This topic describes the different types of IRA accounts that are available.
IRA Margin Accounts
US resident customers 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.
Customers 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: