ISAs, Forex Gains/Income

[snake86]

Hi guys,

I was wondering if anyone here trading Forex has any idea whether it can be done under an ISA or SIPP shelter. In the US, some companies offer you to partially trade your IRAs (which are similar) from what I have heard.

Any further information or links on how people manage their Tax/Accounting situation when trading Forex would be appreciated. It would make a great discussion on a topic which doesn't seem to have much solid information from my searches.

Cheerio,

Snake.

 

[a0-0b]

Should be possible under SIPP.
I've spent some time looking at this with no clear answer ... until i found this:
PacificTrader Your Ultimate Trading Partner - Trading within your SIPP
But be careful ... as pacifictraders are in administration ... so i'd take it with a pinch of salt.

My understanding of the SIPP arrangement is that the trustee/administrator is responsible for ensuring all transactions are within approved guidelines, and they have control over the Funds - not you. So the ultimate answer is ... it's up to them to decide if you can trade it.

Hi guys,

I was wondering if anyone here trading Forex has any idea whether it can be done under an ISA or SIPP shelter. In the US, some companies offer you to partially trade your IRAs (which are similar) from what I have heard.

Any further information or links on how people manage their Tax/Accounting situation when trading Forex would be appreciated. It would make a great discussion on a topic which doesn't seem to have much solid information from my searches.

Cheerio,

Snake.

 

[vfx]

Forex Trading in an ISA?

Hi, I was wondering about the same question. My colleague in the USA trades Forex in an IRA retirement account. But I have had no success in determining if that is possible in the UK via an ISA or other tax-free retirement account. Perhaps that type of trading is prohibited by government regulations. Does anyone know for sure? Thanks.

 

[fayalac]

Pinch of salt?, you really are polite!

Should be possible under SIPP.
I've spent some time looking at this with no clear answer ... until i found this:
PacificTrader Your Ultimate Trading Partner - Trading within your SIPP
But be careful ... as pacifictraders are in administration ... so i'd take it with a pinch of salt.

My understanding of the SIPP arrangement is that the trustee/administrator is responsible for ensuring all transactions are within approved guidelines, and they have control over the Funds - not you. So the ultimate answer is ... it's up to them to decide if you can trade it.

 

[vfx]

Pacific Trader Co. & Self-Directed Accounts.

That post was about 15 months ago. Maybe the situation has changed...

 

[snake86]

That post was about 15 months ago. Maybe the situation has changed...

vfx,

Still no good information on the taxation when it comes to FX... especially in the UK. Some real life accounts would be appreciated. I understand everyone will put the standard disclaimer of talking to a tax acct. but any guidelines would be helpful.

 

[snake86]

vfx,

Still no good information on the taxation when it comes to FX... especially in the UK. Some real life accounts would be appreciated. I understand everyone will put the standard disclaimer of talking to a tax acct. but any guidelines would be helpful.

Same goes with Futures... in US is predefined, however as far as my interpretation of HMRC laws goes... I can't seem to find anything on taxation of trading futures.

 

[vfx]

Tax-Advantaged Retirement Account Trading.

Are there any UK regulated outfits that offer Forex trading in an ISA etc?
I have searched extensively, but have found none so far.

 

[snake86]

Are there any UK regulated outfits that offer Forex trading in an ISA etc?
I have searched extensively, but have found none so far.

vfx,

You can't trade spot FX under an ISA however you should be able to trade ETFs which are FX oriented, just not the same for me though; but if you have long-term views than its not a bad alternative.

Snake