I logged out, then back in. I get futures quotes... no problem... but when I initiate a transaction, the account field is blank with no options. Sorry to trouble you... Are you sure you can enter an IRA account into the account transaction field for a futures trade?
After clicking BID or ASK to create an order, if I right click and select "Check Margin Impact", I get a pop-up that states "No Trading Permissions". So I assume I cannot execute trades.
I don't have a regular IB account, just two IRA accounts (IRA & roth IRA) and when I place a futures order I can chose either of the two account numbers. I had simultaneous orders open on both accounts and the account numbers were correctly displayed next to each working order. Futures spread orders on both accounts filled, but I cancelled the outright futures orders before they filled.
I also have two IRA accounts (a regular IRA and and SEP) and I've been able to trade futures without interruption -- I just traded the Yen 3 hours ago. From what I've been reading and what I was told by IB support, it is just a matter of time before they turn off the switch. It's a mystery to me as to why some accounts were affected and others were not. Maybe they are just working one server at a time? Gary
They are a truly bizarre company. Not sure I can trust a company like this to keep a significant chunk of money with.
I just read a post on another site (Collective2.com) that I think will be of interest to some of you: "I heard the following from IB today (via chat): As long as you have an open futures position in your IRA account, new positions will be allowed. However, when all futures positions in your IRA account are closed, no further futures trading will be allowed. This would explain why some people continue to be able to trade and others cannot." Let's see how long I can keep the game going by keeping at least one position open... Gary
First thing I thought of as well. Maybe just open some minor spread that's hedged against itself and keep rolling one side right before expiration?
Since IB has not officially written anything about this, other than their web page change showing IRAs cannot trade futures, perhaps there is high level discussion taking place about making it permanent, or restoring with new safeguards. I certainly hope they will publish something explaining their reasoning, even if it's saying we just think it's "too risky". Jack