LONDON–(BUSINESS WIRE)–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
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
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) www.interactivebrokers.co.uk