Managed
Forex Trading IRA
A managed forex
trading IRA is for an investor who wants to enjoy the tax deferred benefits
of an IRA and wants to have a professional forex manager trading his account. If you want to trade your own money, go to our regular
forex IRA section instead.
To open a forex managed IRA, a customer must complete the managed account
forms, the forms for the trust company that is going to maintain the
IRA, and the forms for the forex broker that the manager uses to manage
the account (if the manager is not the same as the broker).
The trust companies that we normally work with are Equity Trust and Millennium Trust, but there are others as well.
To set up a managed IRA account, the investor usually completes the account application forms for the brokerage firm where the account is going to be opened, as well as various forms for the trust company. All the forms are then submitted to the trust company who submits the completed account applications forms to the brokerage firm.
Our managed IRA customers have
access to the managed account program, FX Bot.
To participate in this program, an IRA of $10,000 or greater is required. Since a new IRA has a yearly contribution limit that's less than $10,000, you won't be able to be use it to participate in the Forex Bot program. You will need to either use the funds from an IRA with $10,000 or more, or rollover a company retirement account with $10,000 or more into an IRA.
Call us for the necessary instructions to set your managed forex IRA up.
Your managed IRA account can take from
2 weeks to be set up (if you are setting up a new IRA) to 6 weeks
(if you are transferring an existing IRA or rolling over your retirement
plan assets to fund your managed account).
If you have any
questions or have any difficulty following the instructions above, call
us toll free at 305-600-4651
or email us at support@forex-day-trading.com.
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