Brokers offering futures in IRAs

Discussion in 'Order Execution' started by SideShowBob, Jul 29, 2008.

  1. I know Interactive Brokers and Tradestation offer futures trading in IRAs. Is anyone aware of other futures brokers offering IRA accounts, specifically those which will allow trading in pit contracts (mainly CBOT and CME)?

  2. nkham


    OXPS does as well.
  3. They look to be all electronic though -- do they offer pits? In most cases you can simulate the pits by using electronic trading but unfortunately I've found sometime the electronic contracts are more volatile, taking out stops that are not hit in the actual pit.
  4. I know you can trade futures in an IRA with Open ECry and I know OEC offers pit traded contracts... But, not sure if you can trade pit traded contracts in an IRA. Worth a call or email to find out though.
  5. i don't think it's ethical to even to allow gambling with your IRA or tax payers money with your IRA tax deductions.

    given the poor statistic returns with futures and options, majority must lose...IRA are for buy and hold not for gambling

  6. Retirement funds like IRA are the only reason people eve n have a brokerage account,.

  7. C99


    check w/ alaron.

    I couldn't find any IRA info on their site, but I do know they can do pit contracts. good people, worth a call. not the cheapest but getting your order into the pit never is.
  8. many to most brokers allow IRA trading. You can trade any futures account pit or electronic that you could normally trade.

    The complexity though, is that the account is setup through a trust - by law. There are several, but the biggest is

    and is used by most futures brokers.
    There is 1 or 2 other trust companies that will keep much of your money at the trust company.

    millennium only keeps $500 or so, and is by far the best choice. They all charge annual fees.

    Futures brokers cannot act as your IRA as places like Fidelity or Vanguard can.

    You choose a broker, tell them IRA, and they will tell you what to do.

    But once set up, it is quite painless and you control the trading in your account.

    If you plan to use this as a learning account, you CANNOT deduct any losses and you risk your retirement money. I would only do this if you are already at least breakeven. If you are still learning, the tax deductions of losses are more important to you.

    The good thing though, is there is no annual reporting of your trades, so that part is a nonissue. And your profits grow untaxed until retirements, which helps grow your account faster, IF you are already profitable.
  9. foo


  10. cstfx


    Correct me if I am mistaken, but aren't the only futures you are allowed to trade in an IRA account are cash settled futures?
    #10     Jul 30, 2008