SIPPS and CFDs

[seancass]

I once traded my SIPP via CFDs at IG markets but now IG markets have withdrawn CFD trading in SIPPs.

Do any members know of a SIPP trustee that allows CFD trading via one of their listed Brokers? In short, I'm looking for a new trustee/broker pair that will facilitate CFD trading in a SIPP.

Many thanks.

Seancass

 

[Dannygee112]

James Hay is the SIPP adminastrator and we handle the set up process.

Daniel

 

[ebt1f]

I once traded my SIPP via CFDs at IG markets but now IG markets have withdrawn CFD trading in SIPPs.

Do any members know of a SIPP trustee that allows CFD trading via one of their listed Brokers? In short, I'm looking for a new trustee/broker pair that will facilitate CFD trading in a SIPP.

Many thanks.

Seancass

http://www.pointonyork.co.uk/ offer CFDs in a SIPP and permit the CMC Markets platform.

 

[anley]

Leverage with pension money is never a good idea.......

 

[Dannygee112]

Low trading cost, direct Market access with pension money I think is a more reliable way to invest.

 

[advfntrader]

whos the best broker for SIPP then ? sippdeal ?

 

[Mr Swing]

IPM Pensions will act as Trustee to your SIPP. They say they will entertain numerous trading platforms (as long as the broker will trade SIPP funds).

They specifically told me they would let me operate a CFD SIPP with the GFT platform (GFT are ok with this too). IPM's charge for this is not the cheapest though - £540 plus VAT = £648 per annum.

With regard to leverage: like all things, be sensible. I would look to trade 30% of my fund or less using this more aggressive vehicle and leave the rest in a high interest cash account. Plus: I rely on system trading with proven expectations ie, 10% or greater out of sample expectation with approximately 20% historic drawdown.

Hope this helps. If anyone can come up with a sensible SIPP fee and a good CFD Broker combo, please post!

 

[CJKELLY]

Hi. I recently had a conversation with someone who advised it was possible to use back to back cfd trading to withdraw funds from a SIPP. Do you know if this is possible and how it works? Any feedback would be greatly appreciated. Regards, CJK

 

[britkid99]

Hi. I recently had a conversation with someone who advised it was possible to use back to back cfd trading to withdraw funds from a SIPP. Do you know if this is possible and how it works? Any feedback would be greatly appreciated. Regards, CJK

I assume you mean to take, say, a long position in the SIPP and a opposite short position outside the SIPP. In theory, yes this would drain money out of the SIPP into your account. BUT ONLY IF you get the direction right of course.

If the SIPP position 'wins' you would effectively be adding money to the SIPP that is tax paid, and you would incurr two sets of commision charges as well.

Brit