Best brokers for active ISA and SIPP traders

This is a discussion on Best brokers for active ISA and SIPP traders within the First Steps forums, part of the Reception category; hi jason i finally got a call today from FXCM only to be told that retail customers are not allowed ...

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Old Aug 12, 2013, 11:44pm   #17
Joined Oct 2012
Re: Best brokers for active ISA and SIPP traders

hi jason
i finally got a call today from FXCM only to be told that retail customers are not allowed to trade options on any of your platforms.
not too surprised as the website does not even mention SIPPS and when i rang the main desk the person had to check whether FXCM even do SIPPS!
guess my search for a SIPP broker continues.
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Old Aug 20, 2013, 2:50pm   #18
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good news I can trade options in a SIPP. so far i am limited to 3 brokers. IB, Sucden and Redmayne bentley. i know the latter two are established UK options derivatives brokers so now i am checking their prices and looking for an administrator. best to do this by asking broker for list of administrators that will do what you want to do i.e. options and then asking the administrators which brokers they recommend. leavinf this post for those who may struggle to find a genuine options broker for their SIPP.
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Old Jun 1, 2014, 7:51pm   #19
 
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Originally Posted by Original Options Trader View Post
good news I can trade options in a SIPP. so far i am limited to 3 brokers. IB, Sucden and Redmayne bentley. i know the latter two are established UK options derivatives brokers so now i am checking their prices and looking for an administrator. best to do this by asking broker for list of administrators that will do what you want to do i.e. options and then asking the administrators which brokers they recommend. leavinf this post for those who may struggle to find a genuine options broker for their SIPP.
Hi Original OT.

Did you eventually get anywhere trying to set up a sipp account and brokerage account to trade options? If so what combination are you currently using?

There is suprisingly little information online from either the sipp providers or brokers regarding any of this.
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Old Jun 2, 2014, 12:34am   #20
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sipps

Hi
I did get sorted and I am now happily trading option strategies in my SIPP.
I returned to interactive brokers and my experience this time round had been excellent. if you need a sipp administrator let me know.
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Old Jun 2, 2014, 1:25pm   #21
 
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Originally Posted by Original Options Trader View Post
Hi
I did get sorted and I am now happily trading option strategies in my SIPP.
I returned to interactive brokers and my experience this time round had been excellent. if you need a sipp administrator let me know.
Can I ask what type of options you are trading, ie single stock options or Index Options? I have an interactive brokers sipp account but they are telling me I cannot trade Index Options, although I am allowed to trade single stock options. I am just not sure if this is IB or my sipp administrator that is imposing these restrictions.
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Old Jun 3, 2014, 12:49am   #22
Joined Oct 2012
[QUOTE=mcginj;2340888]

Hi mcginj
i trade etfs and stock options. I did try a vix spread but ib would not allow me to so i just bought a vix call instead. i have also bought DIA put options. which index did you try. i would speak to your administrator firstly. mine allows me to trade anything that IB allow.
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Old Aug 11, 2014, 10:14pm   #23
 
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Hi folks
i am also looking to set up a SIPP. I want to trade US options but not sure if this is allowed in a SIPP. I not then hargreaves lansdown seem competitive on fees. I found interactive brokers trading quite complex but that was about 3 years ago.
I opened a SIPP with Hargreaves and Landsdown. Yes, they have a reasonably low trading fee, but they charge a humongous 1.7% fee on currency if the trade is below 10k GBP. To me this is robbery!
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Old Aug 11, 2014, 10:22pm   #24
 
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I posted this question to another thread as well. It would be great to hear if anybody has any experience on the various SIPP administrators that IB accepts.

IB has now a list of approved SIPP administrators (see below). Has anybody experience on using these administrators? Any thoughts about the costs and any limitations to instruments?

https://www.interactivebrokers.com/e...nistrators.php
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