Setting Up An IRA Trading Account through Forest Park
Setting Up An IRA Trading Account through Forest Park
In the US, there are thousands of people using their Traditional IRA and Roth IRAs to trade in the Forex (FX) market. In many instances, these traders have to find a custodian for their retirement account that permits self-directed trading and an FX broker that works with that custodian.
But this isn’t as straightforward as most people may think. In fact, it can be downright daunting and endlessly frustrating.
Setting up your own self-directed IRA for Forex trading
Without guidance as to which custodians allow for this type of investment and which FX brokers will work with which custodians, this can be a daunting, frustrating and expensive process. And many would-be investors have lost a lot of time, money and patience trying to navigate these waters on their own.
As in many areas of life and business, knowledge is power. Knowing which custodians to contact and which brokers accept retirement account clients is a big piece of the puzzle. The main custodians that offer self-directed IRAs and are integrated with regulated US Forex brokers are Midland IRA, Equity Trust and Millennium Trust. These custodians can assist with you with set up, rollover or conversion of your Traditional IRA, Roth IRA, 401(k) and other retirement plans and will complete the paperwork to open an FX trading account in the name of your Traditional IRA or Roth IRA.
Once you have created your self-directed Traditional IRA or Roth IRA, the next step is open an FX brokerage account in the name of your IRA. To do this, you will want to follow the specific instructions provided by both the broker and your custodian. Regardless of your custodian or FX broker, the process is simple and your custodian should be able to help you execute on your plans to open an IRA account with your chosen FX broker.
Take control of your retirement savings
If you are looking to manage your own retirement investing, Forest Park FX can help. Through our relationships with the aforementioned custodians and US-regulated FX brokers, we can help you form and utilize a self-directed Traditional IRA or Roth IRA which, in turn, can be used for FX trading.
For more information on how to trade FX through a self-directed Traditional IRA or Roth IRA, please contact [email protected].
Forex trading carries significant risk of loss. Forest Park FX has not independently verified and does not endorse the content contained on any third party links.
