IRA Trading

[Rich Eagle 2]

Does BBT have any relationships with any brokers to provide day trading within an IRA?

 

IB provides this service but does any other broker provide it as well?https://www.warriortrading.com/how-you-can-day-trade-in-your-ira-account/

 

 

[Rich Eagle 2]

They got back to me. They do not offer IRA trading.

[rom30 15]

I don't think that it is possible to "day" trade with an IRA account. However, you can actively trade with an IRA account which is close to day trading.  I have a ROTH IRA with Fidelity and do some trading with it using their Active Trader Pro platform. The platform is not as good a DAS Trader, but you can get by. There are some restrictions/rules about trading with an IRA account. This article describes IRA trading: https://sixfigureinvesting.com/2012/11/top-15-questions-about-trading-in-an-ira/ 

The biggest pain in the rear is that you have to wait for your account to settle after you sell. This takes about 2 days. You can buy share and sell them right away (hopefully for a profit) but you can not used the proceeds of the sale until the transaction is settled. If you use  100%  if you buying power, you will have to wait two day to make another trade. This pretty much limits you to 2 trades per week.

[Rich Eagle 2]

I know Interactive Brokers offers IRA trading. I'm trying to down select which broker I want to go with. One of my selection criteria is IRA (not the primary criteria) trading. I'm still deciding between SpeedTrader and IB. 

[Carlos M. 232]

On 7/13/2018 at 2:22 PM, rom30 said:

I don't think that it is possible to "day" trade with an IRA account.

 

23 hours ago, Rich Eagle said:

I know Interactive Brokers offers IRA trading

Yes you can day trade IRA account but there are some rules that you have to be aware of, that are different then regular Day Trading account. IB does offer IRA trading. I think either one of those brokers are great. I know IB offers IRA trading for sure. I have used IB and SpeedTrader both are really good brokers, you cannot go wrong with any one you pick.

[Rich Eagle 2]

Thanks Carlos. I'm leaning toward SpeedTrader. This is a classic lobster or steak discussion. I don't think I can go wrong with either.

[Serge 0]

IB allows day trading with IRA limited margin, you don't need to wait for settlement date (t+2). You can only go LONG and there's no buying power. Use brokerage account for SHORT.

It's a great way to differ taxes until retirement or better yet use Roth IRA and don't pay them at all. 

https://www.interactivebrokers.com/en/index.php?f=14429