SIPP Product at Interactive Brokers

[Mattybuoy]

Well that does sound good. Personally I am going to wait until after A Day before I move anywhere. There are still quite a few things to be clarified about the new regime.

Good luck with your SIPP.

 

[goodtyneguy]

Did IB get around to offering a SIPP product and if so which trustees and adminstrators are they happy to work with?

Thanks

 

[goodtyneguy]

Did IB get around to offering a SIPP product and if so which trustees and adminstrators are they happy to work with?

Thanks

I noticed that IPM was mentioned earlier in the thread, they are expensive for anyone just wanting a brokerage account in their sipp. Anyone know of a more cost effective administrator/trustee?

 

[theoracle]

I noticed that IPM was mentioned earlier in the thread, they are expensive for anyone just wanting a brokerage account in their sipp. Anyone know of a more cost effective administrator/trustee?

SippDealXtra are by far the cheapest trustees I have found. I use them with IG.

 

[goodtyneguy]

SippDealXtra are by far the cheapest trustees I have found. I use them with IG.

Yes, I think they are the cheapest the only problem for me is that they don't allow the holding of physical gold which is a place I'd like to park some cash. By physical gold I mean held in secure storage by goldmoney.com, gold is allowable in SIPPs as long as one does n't take delivery.

This from a representative on the IB thread:

IB is currently designing a SIPP account structure. We are in discussions with several SIPP administrators who will manage the accounts. Until the account is available, and the negotiations have been finalized, it would be inappropriate to discuss which specific administrators will work with us.

http://www.trade2win.com/boards/brokerages/18316-interactive-brokers-149.html

 

[mac!]

Is IB ever going to be able to offer brokerage services within a SIPP account? this thread started in 2005 and since then they are claiming they are investigating and seriously considering opening such a structure. Notwithstanding what seems an overwhelming majority of people willing to sign up they still have not managed to get a SIPP service going.

Does anyone know whether there is hope for them to offer such a service? I can understand there is a lot of investigation to do but 4 years seems like they have no interest in offering a SIPP service...

Any guidance on this woudl be greatly appreciated.
Also, if anyone else has found I solutions for this, pls let me know: basically, I would like to trade stock and index options via a SIPP account. Is there any SIPP-linked brokerage firm that offers this (at competitive rates)?

Many thanks
Mac!

 

[goodtyneguy]

Is IB ever going to be able to offer brokerage services within a SIPP account? this thread started in 2005 and since then they are claiming they are investigating and seriously considering opening such a structure. Notwithstanding what seems an overwhelming majority of people willing to sign up they still have not managed to get a SIPP service going.

Does anyone know whether there is hope for them to offer such a service? I can understand there is a lot of investigation to do but 4 years seems like they have no interest in offering a SIPP service...

Any guidance on this woudl be greatly appreciated.
Also, if anyone else has found I solutions for this, pls let me know: basically, I would like to trade stock and index options via a SIPP account. Is there any SIPP-linked brokerage firm that offers this (at competitive rates)?

Many thanks
Mac!

Hi mac!,

I hope you don't mind but I've responded to your post on the Interactive Brokers thread. Officials from IB post there and it's only fair that they should see my comments.

http://www.trade2win.com/boards/brokerages/18316-interactive-brokers-168.html#post780948

 

[mac!]

Hi goodtyneguy,

thanks for posting my note in the right place. Look forward to receiving a reply by IB and or anyone else who has more information on IB or other providers

Mac!

 

[goodtyneguy]

Hi goodtyneguy,

thanks for posting my note in the right place. Look forward to receiving a reply by IB and or anyone else who has more information on IB or other providers

Mac!

No problem, I'm not so sure if it's the right place but at least IB will see it.

I'm still in the market for a SIPP friendly broker/administrator after being let down by IB. Fortunately my existing broker has extended its range of investments providing some extra flexibilty but still don't accommodate for what I want to do.

I have been in communication with GNItouch whom I have found extremely helpful and I'm now looking to compare them with Moneycorp whom are also contenders for my business. If you like I am prepared to give you my helpful contact at GNI, just send me a PM if you're interested.

 

[Interactive Brokers]

We appreciate your comments and interest in considering us for a SIPP account account (which we currently do not support) and the posts requesting we do so, in this forum. We understand your anxiety that we have not delivered a SIPP account solution to-date.

But we must weigh the commercial/operational/regulatory/ and etc issues in offering a SIPP account versus our other global business initiatives.

We still hope to offer a SIPP account solution in the near future, although we do not want to create any further expectations/anxiety regarding a delivery date for a SIPP account solution. Hence, we will reserve our comments on a delivery date until a SIPP account is close to launch.

Thank you for your patience and understanding.

Hi goodtyneguy,

thanks for posting my note in the right place. Look forward to receiving a reply by IB and or anyone else who has more information on IB or other providers

Mac!

 

[Interactive Brokers]

You heard it here first...we are close to offering a SIPP Account as we will begin to do some testing, shortly.

How it will work, we will offer a SIPP Adminstrator account whereby the SIPP Adminstrator will open a master account with Interactive Brokers. Underneath the master account the respective SIPP Adminstrator can open sub accounts for their individual SIPP accounts.

Every sub account holder will be able to trade online multi asset classes through Interactive Brokers.

If you are interested and believe your SIPP Adminstrator would like to know more please send a private message to [email protected] with your SIPP Adminstrators and your details.

Thank you all for your patience.

 

[Interactive Brokers]

We now offer a SIPP Administrator account at Interactive Brokers UK Limited. That is, your SIPP Administrator can open a master account with us (at no cost). Afterwards, their clients (sub accounts) can trade their SIPP through us.

Our fees:
- $5,000 initial deposit.
- $10 minimimum brokerage fee per month.
- IB brokerage fees applicable e.g., $0.005 per US share (all in), GBP 6.00 per bargain, all in (=< GBP 50,000 in trade value (NOTE: Stamp duty applies).
- Market data fees applicable.

Benefits:
- Trade in over 80 global exchanges.
- Trade stocks, options, futures and etc.
- We support over 40 order types.
- We offer live charts.
- Account protection up to $30 million.

If you want more information contact our London office 020 7 776 7801.

 

[Interactive Brokers]

We now have just signed up an approved SIPP Administrator... Stadia Trustees. Stadia Trustees, is an FSA regulated SIPP Administrator that has completed our SIPP Administrator (master account) application and has been approved to set-up their clients to trade their SIPP’s through us.

Note: Interactive Brokers UK Limited does not support SIPP accounts directly, rather we do support them going through approved Interactive Brokers UK Limited - SIPP Administrator. SIPP clients can only trade in an Interactive Brokers UK Limited - Cash account i.e., trade online in over 80 global exchanges i.e., shares, futures, options, ETF's and etc. Clients need to pay 100% of the value of the transaction (no leverage). Clients can trade long stock (i.e., no stock shorting), long options (calls/puts), covered call, and call/put spreads. To qualify you need good/extensive knowledge of financial products, because we are a non discretionary broker so we do not give advice. Further you should have conducted a minimum of 100 trades in your lifetime.


If you already hold or want to open a SIPP and would like more information about using the following pre approved SIPP Administrator in order to be their client, which will allow you to trade your SIPP account through us, contact them directly for further details about their respective services:

Ms. Emma Bunting
Stadia Trustees Ltd.
Telephone: 01206 273 496
[email protected]

www.stadiatrustees.com


DISCLAIMER: The above does not act as a solicitation for your business from the pre approved SIPP Administrator, nor are you obligated to use the above SIPP Administrator to trade your SIPP through us. That is, if you already hold a SIPP and you have a SIPP Administrator, they can apply to open a master account with us and if approved you can trade through us. Please refer us (tel: 020 7 776 7800) to your SIPP Administrator so we can provide him details about how to open a SIPP Administrator account (at no cost to them).

 

[azcazc]

Note: Interactive Brokers UK Limited does not support SIPP accounts directly, rather we do support them going through approved Interactive Brokers UK Limited - SIPP Administrator. SIPP clients can only trade in an Interactive Brokers UK Limited - Cash account i.e., trade online in over 80 global exchanges i.e., shares, futures, options, ETF's and etc. Clients need to pay 100% of the value of the transaction (no leverage). Clients can trade long stock (i.e., no stock shorting), long options (calls/puts), covered call, and call/put spreads. To qualify you need good/extensive knowledge of financial products, because we are a non discretionary broker so we do not give advice. Further you should have conducted a minimum of 100 trades in your lifetime.

How much do you need to pay when trading futures? You mentioned that there is no leverage allowed but it states on http://individuals.interactivebrokers.com/en/trading/tradingConfiguration.php?p=a&ib_entity=llc that you buy futures on margin in the Cash account. Is this the same in the SIPP account?

Also, is it possible to use the API within the SIPP account?

 

[goodtyneguy]

Moneycorp Markets in conjunction with SIPP administrator European Pensions Management Ltd will allow you to trade with leverage. This is restricted to 20% of SIPP monies, the rest can be traded in a normal cash account.

They have extensive lists of CFDs across many exchanges which you will not get with IB but unlike IB they only offer options on currencies. Their commissions are more expensive but the service is very good. They are a very helpful lot so less experienced traders will be very comfortable with them.

 

[Interactive Brokers]

You can trade futures through your cash account. Cash account is a US definition that covers securities. With respects to trading futures you will be asked to have some collateral in your account to establish and maintain your position.

Yes, you can use our API in your SIPP sub account.

How much do you need to pay when trading futures? You mentioned that there is no leverage allowed but it states on http://individuals.interactivebrokers.com/en/trading/tradingConfiguration.php?p=a&ib_entity=llc that you buy futures on margin in the Cash account. Is this the same in the SIPP account?

Also, is it possible to use the API within the SIPP account?

 

[Interactive Brokers]

We encourage all of our prospects to compare us before they open an account. Hence, unlike other brokers that do not denote their fees on their website unless you provide them your details, we provide complete transparency. That is, if you refer to our website www.interactivebrokers.co.uk you can find our complete list of fees, and it is not necessary to provide us your personal details.

We wish you well with whatever broker you choose to meet your needs.

Moneycorp Markets in conjunction with SIPP administrator European Pensions Management Ltd will allow you to trade with leverage. This is restricted to 20% of SIPP monies, the rest can be traded in a normal cash account.

They have extensive lists of CFDs across many exchanges which you will not get with IB but unlike IB they only offer options on currencies. Their commissions are more expensive but the service is very good. They are a very helpful lot so less experienced traders will be very comfortable with them.

 

[azcazc]

With respects to trading futures you will be asked to have some collateral in your account to establish and maintain your position.

Will the collateral be the same as the margin in a standard account (e.g. E-mini S&P 500 $5625 initial, $4500 maintenance) or is it a different amount in the SIPP account?

 

[Interactive Brokers]

Collateral for futures will be higher than a standard margin account. Stay tuned for an updated table/info for cash accounts in our website.

 

[glyder]

FXCM for FOREX SIPP

FXCM ofer a FOREX trading SIPP.