SIPP Product at Interactive Brokers

This is a discussion on SIPP Product at Interactive Brokers within the Brokerages forums, part of the Commercial category; As you can tell I'm not busy at work this morning !! Here is my email to Sippdealxtra to get ...

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Old Dec 21, 2005, 12:12pm   #15
Joined Feb 2005
As you can tell I'm not busy at work this morning !!

Here is my email to Sippdealxtra to get them thinking IB CFD SIPP.


Fergus,

FYI - see below correspondence with IB UK.

There are a large number of active traders in the UK who use Interactive Brokers. They are big players in the futures world and very well regarded in the industry.

I know these things take time but it would be great if Sippdealxtra were positioned to offer this option. I for one will be seriously considering any IB SIPP CFD account offering (clearly if competitive).

However, if the IB / Sippdealxtra partnership cannot be brokered then that is life. But just thought you might like to know.

Cheers
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Old Dec 21, 2005, 2:15pm   #16
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garethb started this thread I e-mailed Gerald Perez at Interactive Brokers and he said they are analyzing the likelyhood of offering SIPP and CFD accounts in 2006 and expects to know more at end of January. He asked if any other people interested in opening accounts with IB if they support SIPP and CFDs could e-mail him. I have given him a link to this thread.

I suspect they are costing out any necessary IT costs etc and doing a business case. So if you are interested please e-mail him and let him know you are there and tell him what instruments - eg equities, exchange traded futures, index or stock options and/or CFDs you are interested in.

Regards,


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Old Dec 24, 2005, 6:34pm   #17
 
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I have a SIPP and an IB account, so I'd definitely be interested in combining the two
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Old Dec 24, 2005, 6:48pm   #18
 
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I didnt think active trading was allowed in a SIPP, you can do it but you get taxed, thought they were supposed to be for longer term investments:

"You should, however, make sure that you are not deemed to be "trading".

Otherwise, the Inland Revenue would tax the profit made by the SIPP and could ultimately take away the SIPP's tax privileged status. "

Tell me if im wrong.

Ive noticed that alot of trading sites do offer SIPPs so i could well be wrong, however i dont
think the goverment would want to encourage people to actively trade securities in a SIPP as
we all know that 90-99% of all active traders lose.

Last edited by donaldduke; Dec 24, 2005 at 7:06pm.
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Old Dec 26, 2005, 11:39am   #19
 
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As far as I'm aware there ar eno restrictions on trading within a SIPP.

In fact several SIPP providers have positioned there products to do just that.

JonnyT
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Old Jan 5, 2006, 2:57pm   #20
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garethb started this thread Just a reminder - If anyone else wants to see IB providing SIPP accounts with options and/or CFDs then post here and send a "Happy New Year" e-mail to Gerald Perez at IB letting him know you are interested.

gperez@interactivebrokers.com


Happy New Year


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Old Jan 9, 2006, 2:38pm   #21
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I don't think SIPP provision goes against the IB business model. They already offer IRA accounts in the US, which are basically the same thing. The question is more likely to be can they make it pay, and/or find a suitable trustee/administrator.

CFDs I believe do not fit into the IB model. Their whole thing is about getting access to exchanges, not OTC. That might not stop them though ...
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