IRA FUTURES ACCOUNTS ...... I would like to transfer my IRA money so that i can trade emini futures with them.( 2-4 trades per day}. My accountant, who is good but not a trader specialist, has advised me against this because he stated that the internal revenue service can VOID an IRA account if it determines there is "excessive activity" in the account. The result would be that the entire balance in the account would be taxed as regular income. OUCH!!!! DOES ANYONE have some information regarding this? thanks
Advanced Futures accepts Traditional IRAs and Roth IRAs. You must contact Millennium Trust who acts for the trustee of the account. Millennium is one of only a few U.S. trust companies that accepts and administers such highly specialized assets as Futures. You are welcome to call me directly or call Millennium Trust for more information. Millennium Trust: 1-800-258-7878
I've been trading a IRA futures account for years. Your accountant is wrong. I use MTrust.........unfortunately they acquired my account thru receivership of my prior trust company.