no ira not my only income as i'm professional daytrader but i do trade my ira a few times a week. it riduclous to even think that somebody can't role there ira as much as the law permits. thats why they have the cash only rule in your ira. you can only turn it over once every 3 days but i see ib has gone around that rule. the only way i can even remotely seeing the irs would ahve a cas eif you day your ira exclusively and it was your only soource of income
good question from above. if one has 100k in a roth ira can't he transfer 1/2 to another roth ira. i know you can ahve multiple ira's why not roth ira's
You can have multiple same-type IRA accounts (Traditional, Roth, Rollover, Coverdell ESA) with different brokers. However, you cannot exceed yearly contribution limits (all brokers' IRA accounts)combined. When you partial-transfer IRA account form broker#1 to a broker#2, you need to make sure that i)the broker#1 has any problems with partial transfer-out. (Most brokers should not have any problems with it.) For your own easy checks and balances, you should try to transfer cash-only.
If the IRA custodian is not broker-affiliated then I see no reason why you couldn't have multiple brokerage accounts. For example, North Star Trust Company lets you open brokerage accounts with a ton of different brokers. You can hold your IRA investments in cash, a commodities account, whatever. You can chop and change brokers and move your money around between different brokerage accounts as you please. There is no rollover to worry about because the money has never left the IRA. In essence, when the IRA custodian is neutral, you can open and shut brokerage accounts, pull money out of one account into cash, stick it in another broker account, as you please. The entire time your money remains under the umbrella of being an IRA at North Star. Because it's never the broker who is the custodian for the IRA. There are other trust companies too. Millenium comes to mind. Google for others. Perhaps contact them to ask questions. By having most of the money in brokerage accounts within the IRA, it gives added peace of mind that if the custodial trust company ever went belly up or committed fraud, your money is physically held in segregated accounts at a brokerage house where they couldn't get it. Professional advice would be a good idea, but it might be worth making some inquiries of these independent trust companies. Their main marketing jist is that they provide mucy greater flexibility than most traditional firms when it comes to IRAs.