The name of the game is playing with Intel, there is money to be made on the spreads. Can I legally trade often in an IRA? Man, I have spent hours trying to find this damn thing out, a CPA/financial planner has got to have the answer on this.
2007-01-28 12:48:28 · 3 answers · asked by Johnny Wad 1 in Business & Finance ➔ Personal Finance
Yes you can day trade, but you can't use margins because of the $4,000 a year cap.
Also your buy and sell fees count toward the cap.
2007-01-28 12:54:55 · answer #1 · answered by gregory_dittman 7 · 0⤊ 0⤋
Yes, you can move it to a brokerage account as a "self-directed IRA".
But it is a monumentally bad idea. IRAs are for long term savings, not day trading.
2007-01-29 12:42:51 · answer #2 · answered by Quixotic 3 · 0⤊ 0⤋
you can only if your IRA allows it,but there are limitations for times allowed between trades that they freeze the invested portion limiting trade frequency
2007-01-28 21:01:10 · answer #3 · answered by crazy b 3 · 0⤊ 0⤋