Hey any one trading from a self-directed IRA through PENSCO. Trying to find out if this approach would prove beneficial towards trading. Thanks.
Hello there, You can trade futures through your IRA account. However, most of them only allow you to trade with a certain percentage of your IRA account.
I looked into this earlier in the year with PENSCO and they were not allowing futures trading through their self-directed IRAs at that time... their focus is marketing SD IRAs for investing in property and businesses. When I pressed their compliance officer for an alternative I was directed to Millennium Trust. As it happens I never moved forward with it, but hopefully this will give you a head start. http://www.mtrustcompany.com/ira.html
Yes, txuk is right, Millennium Trust is a good IRA company to go with. Last time I checked, they allow you to trade with all but $500. There's also Lincoln Trust, Entrust, and North Star Trust to name a few other alternatives.