Trading Futures in a 401K

[Real Money]

Hi guys. I have a company 401(k) at T-Rowe Price that is starting to show a balance of about $6000. My question is this:

When I quit my job and the vested amount (let's call it $7,000) is released from the company investment scheme, is it realistic to have this transferred to a U.S. broker and then be allowed to trade CME, CBOT products?

 

[cafeole]

I transferred mine to an IRA and trade futures in it.

 

[cafeole]

BTW, not all brokers can actually manage an IRA. For those that don't, you will probably be paying about $300 management fee per year through a third party.

 

[Real Money]

I think I could run the account up HARD using my E-mini daytrading skillz lol. Would be fun to trade the smaller size account too.

 

[ElectricSavant]

You are correct...Milllennium Trust Company...Right?

BTW, not all brokers can actually manage an IRA. For those that don't, you will probably be paying about $300 management fee per year through a third party.

 

[Real Money]

Hmm. I'm looking on their website but they aren't talking about index futures .

I think I found it, Self-Directed IRA. This is what I had heard of. Thanks!

 

[cafeole]

You are correct...Milllennium Trust Company...Right?

That is one of them.

 

[ElectricSavant]

Midland is the other one...

That is one of them.

 

[cafeole]

Millennium only manages the IRA. They are not a broker. You have to check with futures brokers about how they handle the IRA. Tradovate uses Millennium. Others probably do to.

BTW, Tastyworks does not require an outside manager, but they do not offer day margins.

 

[cafeole]

Midland is the other one...

Yep