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Forex brokers with IRA accounts




IRA accounts can be opened with the following brokers:

ATC brokers
FastBrokers
FOREX.com
FX Solutions
FXCM
FXDD
Gain Capital (Forex.com)
GFT
Interactive brokers
Lightspeed
MB Trading
PFGBEST
thinkorswim
TradeStation Securities
Zecco Forex

Did we miss any Forex broker who open IRA accounts?
Please suggest by adding a comment below.

What is IRA account?

IRA (Individual Retirement Account) - is one of the investment account options available to Forex traders in U.S. that allows them to avoid taxation of their trading income and also save for the retirement.

There is a whole set of rules and requirements for IRAs. If you have not decided on whether an IRA account is for you, consider consulting your tax advisor. Also you can find information about IRA accounts at U.S. Treasury and IRS.

Traditional self-directed IRA & Roth IRA

There are two main types of IRA accounts:
- Traditional self-directed IRA - set in between a broker and an individual and controlled by an individual. The contribution is made with pretax dollars. The balance on the account accumulated tax-free until the funds are withdrawn at retirement, where the taxes on profits should be paid.
- Roth IRA - could be opened through a broker, bank or a mutual fund. The contributions are to be made with after-tax dollars. The balance on the IRA is accumulated again tax-free, and if withdrawal of funds is made at the retirement age, you won't have to pay any taxes.
There is also an option to open a professionally managed IRA account.

Pros and Cons of different IRA accounts

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Broker discussion area

trader

September 28, 2011

thinkorswim and zecco don't offer IRA for Forex.
All others I checked work through a Trust that charges $200 per year maintenance fees. You should mention that :)

trader

October 25, 2011

I spoke with the three IRA Custodians that I could find that allow customers to trade FOREX. All three indicated that they would set up accounts with any broker that would accept "trust accounts". They generally expected the broker to be a regulated US broker but that might not be an absolute rule - I didn't press them on it. The three I found are Equity Trust (www.trustetc.com), The Entrust Group (www.entrustiraadmin.com), and The Millennium Trust Company (www.mtrustcompany.com). They all have different fee schedules. For a small account ($0-$15K) I found Equity Trust to be the cheapest at $190/yr maintenance with a $50 initial setup fee.



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