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what questions do you have? different IRA Trust Companies allow you to do
different things. ie) Some allow the client to trade the account - others
only allow a approved CTA to trade the IRA futures account.
How much do you have in this IRA account?
This will help determine whether it even makes sense to consider using
futures for IRA accounts. If you're looking to move over a small IRA
($25k - $100k), then overcoming $100+ maintenance/transfer fees,etc. makes
sense however if your idea of small is $5k acct. size - you're wasting your
time.
What is the total amount of capital that you have between all of your
retirement accounts (401k, SEP, Money Purchase/PS, IRA, Roth IRA, etc.)?
Both Trust Companies have a different % they release to the FCM based on the
total aggregate of retirement funds. this will also be on your IRA futures
application.
Once you're able to answer all of these questions you will be able to
determine which Trust Company - (only about 2 out there for retial futures
accounts) is right for you. We use both Trust Companies however that is a
bit unusual for your typical Futures IB. One we use for CTAs - the other
for retail, self-directed futures accounts.
let me know if I can be of further service-
Regards,
Michael T. Herron
President & CTA
Viper Trading, LLC.
web site: www.vipertrading.com
Tel: 1-480-354-1448
email: mike@xxxxxxxxxxxxxxxx
THE RISK OF LOSS EXISTS WITH TRADING FUTURES & OPTIONS. PAST PERFORMANCE IS
NOT INDICATIVE OF FUTURE RESULTS.
Viper Trading, LLC. is a Guaranteed Introducing Broker through Vision, L.P.
& is a NFA Registered Commodity Trading Advisor (CTA).
----- Original Message -----
From: "cwest" <cwest@xxxxxxxxxxxx>
To: "'Omegalist'" <omega-list@xxxxxxxxxx>
Sent: Monday, April 28, 2003 9:35 AM
Subject: Futures & IRA accounts
> I can't seem to find anything definitive about buying/selling Futures in
> an IRA account. I'd appreciate any input.
>
> Thanks in advance
> Colin West
>
>
>
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