What I can trade with Roth IRA ?
- Thread starter Walther
- Start date
I think the difference is that the IRA account isn't margined. The IRA account makes an investment in the sub account which has the ability to margin. It's an entity issue. If you were to open an IRA account and gain margin authorization, then you may get the ruler on the knuckles....... ouch!!!!!!
Aren't people in IRA's invested in mutual funds that have the ability to margin or go short?
The only difference is the entity which is going short or margined.
Later,
Cracked
Aren't people in IRA's invested in mutual funds that have the ability to margin or go short?
The only difference is the entity which is going short or margined.
Later,
Cracked
Quote from rcreal:
Visit Millennium Trust (did I spell that right ??) at http://www.mtrustcompany.com and check out your options there.
Use all of your IRA for trading except for $500
I just did the similar transaction, Mil Trust don't even keep the last $500. Other trust beside Mil Trust http://www.lincolntrust.com/
http://www.entrustadmin.com/
found post on trading in IRA...thank Jessie
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As to the question of margin being
illegal in an IRA, while this is true with equities, it is NOT true with
futures or with options on futures. Margin on futures is not borrowed money
as with equities, so it does not represent a "debt", rather it is a
performance bond, so the rules are different. It is quite easy to set up a
futures IRA that will let you trade in any manner you wish. Just contact any
one of the trust co's that provide the "umbrella", then open an account with
any FCM you wish and trade. Millenium is probably the best known for this
kind of IRA, and Lincoln Trust, and Entrust also come to mind as a result of
my own experiences, but there are lots of others. Most of the trusts have
rules stating that only 50% of cash on deposit as margin can be used, and
when the account gets to that level trading will cease, thus there is very
little likelihood that the account will go into debit. Trust me, you CAN
trade naked calls & puts in an IRA, I do it regularly, as do thousands of
other commodity traders.
Good Trading!
Jessie
For stocks - be careful not to break the free-riding rules - easy to do in a cash account without the cushion margin provides.
Smitty
Smitty
Does your IRA have its own tax id number? When you fill out the account forms, what do you put into the tax id number blank? Your personal social security number?
If you put in your soc. sec. number, then when the IRS gets the 1099s, won't they be looking for the amounts to be reported on your taxes?