GTS, do you need to go through trust company to get futures trading approval, or it can be approved within IB? Thanks for sharing.Yes, IB allows future trading in IRA account...I've been doing it for years.
Regarding margin, futures trading doesn't require a margin account since you don't borrow to trade futures; as long as you meet the initial and maintenance requirements for the contract (which are low) you are fine - you do not have to assets in your ira equal to the nominal value of the future contract you are trading (e.g. ES $50 x 2000 = $100,000)...normal futures margin rules apply (for ES $2875 initial, $5750 overnight)
Thanks Handle. Will read the details on the website.Mid 90s my CPA turned me onto taking retirement monies into LLC. Here is a site that explains.
http://www.checkbookira.com/faq.html
Adios trustee, you can do so much more with it.
It can have rentals, businesses, tax lien notes, trading accounts, just can't do life insurance that I know of or collectables like paintings or old wine, but they may have changed some of definitions, when in doubt call a tax lawyer.
No trust required - you just open the account with IB like normal but select IRA as the account type, its been so long I don't remember the details but it was straightforward/easy.GTS, do you need to go through trust company to get futures trading approval, or it can be approved within IB? Thanks for sharing.