I am looking for good spread broker that handles IRA

Discussions about brokerage firms for futures, stocks and other tradeable instruments.
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TradingCoach
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I am looking for good spread broker that handles IRA

Post by TradingCoach » Wed Apr 28, 2004 1:46 pm

I only trade spreads, I like electronic access and phone backup.
Any ideas? US markets are adequate. Must be reasonable as I take no advice.

NeueZiel
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Post by NeueZiel » Thu Apr 29, 2004 1:53 am

Helllo TradingCoach...

Are you talking about an Individual Retirement Account? Because if you are, spreads are not allowed in many brokerage firms especially the discount brokerages. Only conservative option strategies are allowed --- covered call writing and mostly recently many firms allow naked puts.

TradingCoach
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yes in an IRA - you can trade futures

Post by TradingCoach » Thu Apr 29, 2004 1:32 pm

I have looked at IB (interactive broker), Advanced Futures. Both deal with an IRA costodian, AF charges a $50 setup fee and $100 fee for every year but yoiu can trade anything in the account including futures spreads.
AF deals with MilleniumTrust for the IRA, their software X_Trader has spread capability but it is quite pricy.
The Millennium Trust website is: www.mtrustcompany.com
You are right about the fact that not every broker offers it and they offer IRA account differently.

Wisdom
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Post by Wisdom » Thu Apr 29, 2004 1:57 pm

Trading Coach,
I can help you. We clear through Man Financial and have a couple custodians to choose from. Millennium is one of them and the same fees apply. You can place orders online or by telephone and we are very experienced with all spread strategies. We can also provide you with some of the best industry rates available. If you have any questions or interest contact me anytime.

NeueZiel
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Post by NeueZiel » Thu Apr 29, 2004 8:37 pm

TradingCoach:

I would like to truly thank you for this thread. Ya learn something new each and everyday......

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