SIPP Product at Interactive Brokers

This is a discussion on SIPP Product at Interactive Brokers within the Brokerages forums, part of the Commercial category; 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, 6:34pm   #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.

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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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Old Jan 9, 2006, 5:02pm   #22
 
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The US market is 6 times that of the UK hence why I personally think they may not do a SIPP wrapper.

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Old Jan 9, 2006, 6:04pm   #23
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Fair comment. What if all the charges can be put into the wrapper product though? Then it's essentially a no-risk deal from IB's perspective.

We'll just have to see. Personally I would lap it up if happens since my SIPP is currently stuck in a conventional brokerage account and I don't like CFDs. The IB account would be ideal.
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Old Jan 13, 2006, 4:11pm   #24
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