IRA Account Types
Instructions
This topic describes the different types of IRA accounts that are available.
IRA Margin Accounts
- US resident clients may open cash or margin Individual Retirement Accounts (IRAs). The following rules apply to IRA margin accounts:
- IRA margin accounts are afforded all the benefits of a margin account, such as the ability to day trade and the ability to trade multiple currencies and multiple currency products, but are subject to the following limitations:
- IRA accounts cannot borrow cash (i.e. have a debit balance or short stocks).
- IRA accounts may be opened in any base currency, but when trading in a non-base currency product a currency trade must be executed first as you cannot borrow currencies.
- IRA accounts can only cross-margin single stock futures, not stocks and options.
- IRA accounts cannot borrow currencies.
Clients are advised to consult a tax specialist for further details on IRA rules and regulations.
IRA Account Types
When you open an IRA account with us, you must select a type of IRA account. The following IRA types are available:
- Traditional
- Traditional Rollover
- Traditional Inherited
- Roth
- Roth Inherited
- Simplified Employee Pension (SEP)
- Simplified Employee Pension (SEP) Inherited
Additional Resources
Learn About the Client Portal Interface at IBKR Campus