Best brokers for active ISA and SIPP traders

Jason Rogers

Senior member
2,772 93
Hi Jason, just phoned Phone: +44 207 903 6150, to get the ball rolling, but the most unhelpful guy! He says that I need to first find a SIPP provider, who in turn will allow me to trade with FXCM

I asked can you provide me with a list of sipp provider?
he says he cannot give advise!

all i want is a list of sipp providers who use fxcm

Hi Forex,

I apologize on behalf of my colleague who took your call. If you email me at [email protected] I can give you a list of SIPP providers and arrange a follow up call for you with one of my colleagues who can help you in setting up such an account.

Jason
 

Original Options Trader

Junior member
27 0
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.
 

Original Options Trader

Junior member
27 0
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.
 

mcginj

Newbie
2 0
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.
 

Original Options Trader

Junior member
27 0
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.
 

mcginj

Newbie
2 0
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.
 

Original Options Trader

Junior member
27 0
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.
 

ammentaja

Newbie
4 0
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!
 

Original Options Trader

Junior member
27 0
i think INTERACTIVE BROKERS are excellent. their fees are really low and they have some great tools especially for options trading. i like that fact that i can trade UK and US Equities and chart them.
 

ammentaja

Newbie
4 0
I am convinced that IB is excellent. I have been using IB for about 5 years now. I was hoping if someone could share their experience in setting up a SIPP account with the IB approved administrators and trading their SIPP money with IB

Stadia Trustees Ltd
Berkeley Burke
Corporate & Professional Pensions Limited
SIPP Willow Trustees Limited
SIPP (Pension Trustees) Ltd
Carey Pension Trustees UK Ltd.
European Pensions Management
NSS Trustees Limited

These administrators can be found in this IB link:

https://www.interactivebrokers.com/en/?f=/en/accounts/individuals/sippAdministrators.php

Thanks in advance!
 

Original Options Trader

Junior member
27 0
Hi there
I decided to go with corporate & professional pensions. they are a small family firm and their charges were low. they set everything up and i have now been trading with IB through them since jan this year. pleased with the service.
 

norilsk

Newbie
8 0
SIPP with IB - any advice on trustee?

Hi there
I decided to go with corporate & professional pensions. they are a small family firm and their charges were low. they set everything up and i have now been trading with IB through them since jan this year. pleased with the service.

Hi Original Options Trader,

I saw your post on Corporate & Professional pensions, SIPP trustee with IB. Could you please share if you are still happy with their service?

Thank you so much in advance!
 

Original Options Trader

Junior member
27 0
Hi Norilsk
Sorry for the late reply. Yes I am happy with them still been good. are you trading options?


Hi Original Options Trader,

I saw your post on Corporate & Professional pensions, SIPP trustee with IB. Could you please share if you are still happy with their service?

Thank you so much in advance!
 

rotatorcuff

Newbie
1 0
Trading Options in a SIPP

Hi there
I decided to go with corporate & professional pensions. they are a small family firm and their charges were low. they set everything up and i have now been trading with IB through them since jan this year. pleased with the service.


Hi OOT

I have the same setup as you. What type of option strategies are you trading?
IB won't let me trade any debit or credit call spreads on single equity options and not on almost all index options, the exception being SPX becasue it is US and European style exercise. I can't even do call spreads on the FTSE100 index options even though that is also European style exercise. Debit call spreads are limited risk but it seems that IB's system doesn't recognise this, and it's not allowed just because there is a blanket ban on selling calls irrespective of the fact that there is a long call covering the risk in a spread trade.
IB says that the only way they would allow these trades if the account was a margin account but a SIPP account from C&P pensions is cash only. Are you trading options strategies where none of them involve a short call leg?
 
 
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