Best Broker for IRAs

[Opra]

You can trade stocks, futures and options and currencies all in one IRA account if you are approved. No other brokers for retail traders I know of offer that. Viva IB.

 

[Spunky]

Quote from yip1997:

The problem with IB is the minimum trading commission or monthly charge. If you invest long-term with your IRA account and make very little trades each month, they charge you $10 each month. Otherwise I don't see any reasons why not use IB since you have been using IB for your regular trading account (and assume you are comfortable with their service and their platform).

TOS is great for option traders too.

Why do people complain about $10 a month inactivity fees when IB will pay you 30 times that much interest each month.

 

[RichardRimes]

Quote from Opra:

You can trade stocks, futures and options and currencies all in one IRA account if you are approved. No other brokers for retail traders I know of offer that. Viva IB.

are you sure about futures in an IRA? don't futures require a margin account? I believe IRA's can not be margin accounts...how do they get around it?

 

[illinimatt81]

These are all great thoughts, I am thinking IB might be best for my situation given I trade enough and have been satisfied.

 

[GTC]

At IB, you cannot convert regular-401k to Rollover/Traditional IRA to Roth IRA or vice versa in case you need it.

 

[Spunky]

Quote from RichardRimes:

are you sure about futures in an IRA? don't futures require a margin account? I believe IRA's can not be margin accounts...how do they get around it?

Here is what IB states on there web site.

"US resident customers may open cash or margin Individual Retirement Accounts (IRA). IRA margin accounts may never borrow, but are afforded all the other benefits of a margin account such as the ability to day trade, and the ability to trade multiple currencies and multiple currency products"

Yes that includes futures. I do it everyday

 

[yip1997]

Quote from damnit:

If you cannot afford a 10.00 charge per month then you need to stop funding your 401k and start saving. This fee is nothing compared to what many charge for advisory of 401k's.

I didn't complain. I just tell the fact. Some people use IRA for long-term investing, and never trade with their IRA accounts. Don't understand why you think I can't afford $10.00 charge from my comment.

In fact, I have an IRA with IB, and I think it is great. I can trade future and future options with that account.

 

[Spunky]

Quote from GTC:

At IB, you cannot convert regular-401k to Rollover/Traditional IRA to Roth IRA or vice versa in case you need it.

Yes you can convert regular 401k to rollover IRA. I have done it

 

[yip1997]

Quote from RichardRimes:

are you sure about futures in an IRA? don't futures require a margin account? I believe IRA's can not be margin accounts...how do they get around it?

I trade future option with my IB IRA account.

 

[Gregarious]

IB rocks in trading everything in IRA except for shorting stocks, since it by law cannot have Margin. With Ultrashort ETF's, futures and puts this has never been an issue in my IRA.