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Interactive Brokers not allowing futures trading in IRAs


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Interactive Brokers not allowing futures trading in IRAs

  #51 (permalink)
 
jackbravo's Avatar
 jackbravo 
SF, CA/USA
 
Experience: Beginner
Platform: SC
Broker: Stage 5
Trading: NQ...uh..ES actually
Posts: 1,337 since Jun 2014
Thanks Given: 4,362
Thanks Received: 2,400

Yea, I requested an exemption to my account since I overtrade like a maniac. We'll see. If not, I've researching other brokerages. I'm liking Stage 5 right now, looks like they're good folks, good margins and fees, and I like that FT71 does webinars here. Only negative is someone else has to house the IRA, which will cost 300$ a year.

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  #52 (permalink)
 
ElChacal's Avatar
 ElChacal 
Houston, TX
 
Experience: Intermediate
Platform: NinjaTrader TWS Barchart
Broker: IB / IB
Trading: SPY, QQQ
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Man... this is a buzz kill I should have learned to use Tradestation instead of Ninja. Data fees are low and no crazy initial margins.

Ninja brokerage seems to have low commissions but they don't even show you a phone number. Besides, the data feed is expensive.

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  #53 (permalink)
 Futures Operator 
New York, NY
 
Experience: Intermediate
Platform: Sierra Chart, thinkorswim
Broker: Amp-Rithmic/TT, IB
Trading: CL, GC, NQ
Posts: 601 since Nov 2010
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FWIW, IB chat rep today said 3x posted exchange initial overnight margin effective 4/15, no idea what time it will go into effect.

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  #54 (permalink)
 
jackbravo's Avatar
 jackbravo 
SF, CA/USA
 
Experience: Beginner
Platform: SC
Broker: Stage 5
Trading: NQ...uh..ES actually
Posts: 1,337 since Jun 2014
Thanks Given: 4,362
Thanks Received: 2,400

no effect on trading today so far

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  #55 (permalink)
 
jackbravo's Avatar
 jackbravo 
SF, CA/USA
 
Experience: Beginner
Platform: SC
Broker: Stage 5
Trading: NQ...uh..ES actually
Posts: 1,337 since Jun 2014
Thanks Given: 4,362
Thanks Received: 2,400

ok, from I can tell today, the triple margin is for both day and overnight margins. So for daytrading, they're tripling the daytime margin not the overnight margin. However, to initiate a position you need full margin, so you have to scale into positions.

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  #56 (permalink)
 Futures Operator 
New York, NY
 
Experience: Intermediate
Platform: Sierra Chart, thinkorswim
Broker: Amp-Rithmic/TT, IB
Trading: CL, GC, NQ
Posts: 601 since Nov 2010
Thanks Given: 2,039
Thanks Received: 258

I thought IB's IRA futures margins were already at full overnight exchange or higher for some contracts anyway, no lower for intraday?

Is there a specific place we can see the actual IRA futures margins for all contracts?

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  #57 (permalink)
 
jackbravo's Avatar
 jackbravo 
SF, CA/USA
 
Experience: Beginner
Platform: SC
Broker: Stage 5
Trading: NQ...uh..ES actually
Posts: 1,337 since Jun 2014
Thanks Given: 4,362
Thanks Received: 2,400

i have no idea. just writing down my observations. i'm not sure that they're organized enough to have accurate documentation. according to their website, you're not supposed to be able to trade futures at all

https://ibkb.interactivebrokers.com/node/188

so, really, I have no idea, and their customer service is really pretty terrible.

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  #58 (permalink)
 
empty's Avatar
 empty 
Louisville, Kentucky
 
Experience: Intermediate
Platform: Sierra Chart, TastyTrade
Broker: Various
Trading: Futures, Options
Posts: 100 since Oct 2012
Thanks Given: 1,938
Thanks Received: 195


ElChacal View Post
Man... this is a buzz kill I should have learned to use Tradestation instead of Ninja. Data fees are low and no crazy initial margins.

Ninja brokerage seems to have low commissions but they don't even show you a phone number. Besides, the data feed is expensive.

Keep in mind with Tradestation your money will be in buckets each with it's own account for Futures, Forex, Stocks, Options.

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  #59 (permalink)
 lverr 
Santa Cruz, Ca
 
Experience: Intermediate
Platform: tradestation
Trading: ES
Posts: 3 since Mar 2012
Thanks Given: 4
Thanks Received: 1

tI use Tradestation for my futures trading in my IRA. The custodian is Advanta. I am very happy with both. I previously traded ETF's but switched over to futures last year. The transition was very smooth.

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  #60 (permalink)
 
ElChacal's Avatar
 ElChacal 
Houston, TX
 
Experience: Intermediate
Platform: NinjaTrader TWS Barchart
Broker: IB / IB
Trading: SPY, QQQ
Posts: 414 since Nov 2014
Thanks Given: 471
Thanks Received: 278



empty View Post
Keep in mind with Tradestation your money will be in buckets each with it's own account for Futures, Forex, Stocks, Options.

Thanks. Don't mind my comment, I actually got confused with the initial margins for "Equity day trading" which is actually a FINRA rule. I already know Ninjascript enough to start learning another language.

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