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IRA Account Types

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:

• Traditional
• Traditional Rollover
• Traditional Inherited
• Roth
• Roth Inherited
• Simplified Employee Pension (SEP)
• Simplified Employee Pension (SEP) Inherited