getting my IRA to trade options and forex??

Discussion in 'Professional Trading' started by jasonjm, Oct 10, 2006.

  1. jasonjm


    sigh, I want to set up an IRA somehow to trade at either or interactive brokers

    problems are 2 fold, oanda doesnt have IRA accounts

    IB does have IRA accounts but they are sticky about these accounts trading anything that uses margin (like FX or selling options)

    is there any way where some custodian type company can open a self directed IRA type plan for me and then put my money in one of these broker's "normal" account for me to trade?

    or am i dreaming? ideas please..... thanks very much
  2. nkhoi

    nkhoi Moderator

  3. sim03


    Don't know about selling options, but I know for a fact that you can trade both currency futures and forex in an IB IRA or Roth IRA.
  4. jasonjm


    sim, thats typical of IB

    Great platform and not good support

    I phoned them yesterday and they said no to FX - now people are saying yes?
  5. jessie


    Don't know about forex (wouldn't go near that with a ten foot pole myself...), but you can trade futures & options on futures in an IRA that is held in an appropriate IRA trust account. Millennium Trust is one that some of my CTA clients used, there are others as well, each has its own rules about what they will allow relative to your equity, etc. Whether a particular broker will allow it is, I suppose, up to them (I don't use a retail broker, so really can't recommend one to you, but I know that there are a number of them that will allow a trust/IRA futures acct.) You might want to look at and see if that would work for you.
    Good luck!
  6. GTS


  7. You can trade defined risk options in an IRA at

    And they just got rid of the annual fees too.
  8. sim03


    My mistake. Looking over trade histories for my IB accounts, currency futures are OK, while all my spot forex trades have been outside my Roth IRA. Sorry for the earlier misinformation, delivered with such typical trader's (over-) confidence. :)