Tue 27 Jun 2006
Ever wondered how or where to open up an IRA for trading things other than stocks, such as futures and forex?? Consider a custodial trust?company that can approve various types of trading accounts for an IRA setup.? I think as long as the broker can prove that there are automatic safeguards in place that prevent the account ever going into debit such that you owe money, then it can be approved.? This is why margin accounts are allowed because most have automatic margin call procedures that prevent you from ever losing more than the amount in your account.
Here are a few:
I don’t have any knowledge of these firms to recommend?one and there may be more, but these are the few I’ve heard of.
June 28th, 2006 at 5:26 pm
You can also go outside of broker related investments. I know of a company called Pensco (link below) that provides the structure for IRA investments in real estate or private placements (such as private equity, small businesses, etc.).
The rules get complicated fast, and there are plenty of safe guards to prevent self-dealing (like you can’t buy a house and rent it to yourself). The biggest pain is that your IRA can’t be used in conjunction with a loan to purchase real estate.
http://www.pensco.com/
I don’t use the company or know anyone who has.