London, – September 27, 2010 – IBUK announces the launch of its SIPP Administrators service.
Our innovative SIPP Service provides a simple and smart solution (at no cost) for SIPP Administrators to open and oversee their clients dealing accounts online with Interactive Brokers. Moreover, it provides online dealing privileges to a SIPP Administrators knowledgeable beneficiaries wanting greater control over their self-directed pension plans.
For investors wanting to trade online in stocks, options, etf’s, futures and forex on over 80 global exchanges in a cash account, Interactive Brokers has devised a SIPP Administrator service allowing UK firms only, regulated and approved by the Financial Services Authority to open Master Accounts under which individual Sub-Accounts (SIPP beneficiaries) can be added. To help individual SIPP beneficiaries in their selection, a list of pre approved IBUK SIPP Administrators can be found on our website (click here). Existing qualifying SIPP Administrators are invited to open Master Accounts (at no cost) with Interactive Brokers, in order to take advantage of our offering, which provides its beneficiaries low trading costs and its global reach providing a multi-asset class offering.
How it works?
SIPP Administrators make use of an easy-to-use tool to create additional Sub Accounts and can control or restrict the products any account can trade. Interactive Brokers also supports a flexible and electronic reporting tool-enabling Administrators to tailor archived and current account statements on an individual basis. Investors funding an account in one of 11 base currencies supported by our brokerage service can then convert funds in order to trade products denominated in other currencies.
The SIPP Administrator initiative delivers dealing for beneficiaries using Interactive Brokers award-winning Trader Workstation (TWS) platform, Web Trader and Mobile Trader, which includes over 50 order types at extremely low brokerage costs. Individual Sub Accounts (SIPP beneficiaries) can be opened for a minimum funding of $5,000 equivalent (£3,500) via direct wire transfer. Low cost global online dealing is available e.g., trading in British stocks costing just £6.00 per bargain (all in, up to GBP 50,000 in trade value). European stock trading costs of 10 basis points per trade value and U.S. listed stocks costing just $0.005 per share (all in, respectively). US options dealing $0.15 to 0.75 per contract + exchange fees. A monthly minimum brokerage charge of $10.00 applies. Real-time market data fees and brokerage commissions vary per product and exchange.
For SIPP beneficiaries knowledgeable about the products they wish to trade, Interactive Brokers low-cost and sophisticated technology is a perfect solution. Its SmartRouting technology has proven to deliver better stock and option fills as verified by third-party auditing firm Transaction Auditing Group of New York (TAG), saving customers money on their trades. Interactive Brokers employs the same cutting-edge technology in accessing markets worldwide.
For Administrators wanting to take advantage of Interactive Brokers’ SIPP service to create new value for their clients or generate new business, the company supports a full suite of White Branding tools to allow third parties to customize customer registrations, statements and other informational materials. Further we provide SIPP beneficiary account protection up to $30 million (click here, for more details).
About Interactive Brokers Group:
Interactive Brokers Group, Inc., together with its subsidiaries, is an automated global electronic market maker and broker specializing in routing orders and executing and processing trades in securities, options, futures, foreign exchange instruments, bonds, and funds as a member of more than 80 electronic exchanges and trading venues around the world. The company provides professional traders and investors with electronic access to stocks, options, futures, forex, bonds and funds. Employing proprietary software on electronic exchanges worldwide, Interactive Brokers is continuously integrating its software with a growing number of exchanges and trading venues into one automatically functioning, computerized platform that requires minimal human intervention. Interactive Brokers (U.K.) Limited is authorized and regulated by the Financial Service Authority in the United Kingdom (registration number: 208159) http://www.interactivebrokers.co.uk/
Interactive Brokers UK Limited
Direct tel: 0207 776 7801
The risk of loss in online trading of stocks, options, futures, currencies, foreign equities, and fixed income can be substantial. Options are not suitable for all investors. For more information, read the "Characteristics and Risks of Standardized Options".
Your capital is at risk and your losses may exceed the value of your original investment.
Interactive Brokers (U.K.) Limited is authorised and regulated by the Financial Conduct Authority. FCA Reference Number 208159.
Interactive Brokers LLC is regulated by the US SEC and CFTC and is a member of the SIPC (www.sipc.org) compensation scheme;
products are only covered by the UK FSCS in limited circumstances.
Before trading, customers must read the relevant risk disclosure statements on our Warnings and Disclaimers page.
For a list of IBG memberships worldwide, see our exchange listings.