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Thanks Grover and Sid, much
appreciated !!
D, I read that article ( or a very similar one ) a
couple of years ago, was quite surprised to learn that most of these IRA
restrictions are still there because the *brokers* choose to leave them in
place
( annoys me no end when other people, gov't,
etc feel the need to protect me from myself 8 -
)
For anyone interested, in addition to IB, Think Or
Swim now also has a "restricted margin IRA" which appears similar to
IB's as far as T+3 goes but seems to differ a bit when it comes to the highly
leveraged stuff. FYI, I have pasted a couple of my communications with them
below. Thanks again!
Steve
******************************************************************
Hi Steve,
Thanks for following up. In an IRA
account we will allow you to trade any option strategy where the risk can be
defined. That means credit spreads, calendars, irons, butterflies, diagonals,
covered writes and even cash secured naked puts are fine with us. We can?t allow
for naked short calls or short stock, or futures/forex
trading.
Please let us know if we can be of
further assistance.
Sincerely,
Adam
Adam
Evans
Client
Liaison
866 839 1100
773
435 3232 fax
thinkorswim,
inc.
600 west chicago avenue,
suite #100
chicago, IL 60610
Member FINRA
| SIPC | NFA
trademark, all rights reserved
----------------------------------
This e-mail is sent by a financial
firm and contains information that may be privileged and confidential. If you
are not the intended recipient, please delete the e-mail and notify us
immediately.
-----Original
Message-----
From: Steve Dugas
[mailto:sjdugas@xxxxxxxxxxx]
Sent: Tuesday, October 21,
2008 10:50
PM
To: Support
Subject: Re: Restricted Mergin
IRA
Thanks you Christian! Does the
restricted margin IRA allow trading ( and shorting ) of
futures?
----- Original Message -----
Sent:
Thursday, October 16,
2008 10:55
PM
Subject: RE:
Restricted Mergin IRA
Hi
Steve,
Thank
you for the email. You are correct; the restricted Margin IRA allows you trade
funds in you account without having to wait T+3 days for the trades to settle.
Also, you will be happy to learn that we offer three free Mutual Fund trades
per month.
Feel
free to contact us anytime.
Best
regards,
Christian
Christian
West
Client
Liaison
773 244 6823
direct
773 435 3232 fax
![]()
thinkorswim,
inc.
600 west
chicago avenue,
suite
#100
chicago,
IL
60654
Member
FINRA | SIPC | NFA
trademark, all rights reserved
----------------------------------
This e-mail is sent by a
financial firm and contains information that may be privileged and
confidential. If you are not the intended recipient, please delete the
e-mail and notify us
immediately. |
-----Original
Message-----
From: Steve
Dugas [mailto:sjdugas@xxxxxxxxxxx]
Sent: Thursday, October
16, 2008 8:52
PM
To: iraaccounts
Subject: Restricted Mergin
IRA
Hi - I see that you have a
restricted margin IRA. Is this similar to that of Interactive Brokers, where
the margin is available to cover me during the trade settlement period so I do
not have to wait 3 days to reverse positions? Thanks very
much!
__._,_.___
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