Forex Trading IRA

A Forex Trading IRA is a special Individual Retirement Account (IRA) that is set up to trade currencies. This is a big advantage for traders that want to day trade tax free; something that cannot be done with stocks. Forex IRA's allow investors an opportunity to diversify into the largest financial market in the world (foreign exchange) without having to worry about taxes. Any trading profits generated inside the IRA grow tax free. [Please note that a forex IRA is only beneficial for citizens or residents of the Unites States. It is not necessary for non-U.S. investors or traders. Foreigners can trade currencies tax free in the United States with a regular account, so they do not need to open a forex trading IRA to operate]. To read about the differences between trading currencies using a traditional IRA and a Roth IRA, click here. You can also go to the Managed Forex IRA section if you are interested in opening an FX managed account inside an IRA.

It's important that you sign up for a free 30-day forex demo before you fill out and submit your paperwork.

Instructions to open and fund a forex IRA or transfer your existing IRA?
If you are establishing a new IRA account to trade in the forex market, transferring your existing IRA assets, or rolling over your 401(k), 403(b) or other retirement account (if you are rolling over your retirement plan assets, also click here to scroll down to read this important section), these are the steps you have to follow:

1. Fill out the following forms:
   
   
   1. Forex individual account form
   2. Equity Trust Traditional IRA Application
   3. Equity Trust Forex form
   4. Equity Trust General Direction of Investment Form
   5. Equity Trust Account Transfer Form (Fill out this form only if you are transferring an existing IRA to your new Forex Trading IRA. Also provide a copy of your latest account statement if you are doing a transfer).
      
      

All applications on this page are in PDF format. You need the free Acrobat Reader program from Adobe to view them. If you do not have Acrobat Reader installed at this time, you can click on this link to go to a website and download it for free.


2. Mail all forms along with a copy of 1 photo ID to the following address:
   
   Equity Trust Company
   225 Burns Road
   P.O. Box 1409
   Elyria, Ohio 44036
   
   Your forex IRA account can take from 2 weeks to 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).

   If you have any questions or have any difficulty in completing the steps above, call us toll free at 305-600-4651 or email us at support@forex-day-trading.com. Please remember that in order to qualify for your free training with us, you need to have your account set up and funded with $25,000 or more. After your IRA is set up and funded and you receive your account number, you can fill out our forex training registration form to sign up for your free training

Instructions to open a forex Roth IRA or transfer an existing Roth account?
If you are setting up a new Roth IRA account or transferring your existing Roth IRA assets to your new Forex Roth IRA, please do the following:

1. Fill out the following forms:
   
   
   1. Forex individual account form
   2. Equity Trust Roth IRA Application
   3. Equity Trust Forex form
   4. Equity Trust General Direction of Investment Form
   5. Equity Trust Account Transfer Form (Fill out this form only if you are transferring an existing Roth IRA to your new Forex Roth IRA. Also provide a copy of your latest account statement if you are doing a transfer).
      
      
2. Same as step 2 above.

Instructions to open a SEP IRA for businesses or self-employed individuals?
If you are opening a SEP (Simplified Employee Pension) for your business to trade currencies or to invest in a managed forex account, please do the following:

1. Fill out the following forms:
   
   
   1. Forex individual account form
   2. Equity Trust SEP IRA Application
   3. SEP Agreement (IRS Form 5305 SEP)
   4. Equity Trust Forex form
   5. Equity Trust General Direction of Investment Form
   6. Equity Trust Account Transfer Form (Fill out this form only if you are transferring an existing IRA to your new Forex SEP IRA. Also provide a copy of your latest account statement if you are doing a transfer).
      
      
2. Same as step 2 above.

Rolling over funds from a retirement plan (like a 401(k) or 403(b)) into an IRA and then using it to trade the forex market.
Usually, companies that have 401(k) plans or other retirement plans do not allow their employees to rollover their accounts until retirement or until the employee is no longer with the firm. If you want to rollover your retirement plan assets to set up your forex IRA and are not leaving the company, please check with your firm's benefit coordinator to make sure that you can do the rollover. The same holds true for government employees and teachers that have 403(b) retirement plans.

How to receive free training when you open a forex IRA.
A common question that our customers have is, "How can I receive your free training by opening a forex IRA if I can only deposit $3,000 a year into the IRA account?" Please read the four suggestions below to get around this problem.

Solution # 1: Transfer the assets from an existing IRA with $50,000 or more to your new forex IRA.

If you already have an existing IRA with $50,000 or more, you can simply transfer the assets to your new forex trading IRA and qualify for the free training.

Solution # 2: Roll over your 401(k) or 403(b) into a new IRA account to trade currencies.

If you retired or left your employer and have $50,000 or more in the retirement plan with that employer, the law allows you to do a tax free direct rollover into an Individual Retirement Account. If you are still working for the same company, ask your benefits coordinator if you can do the rollover. This is another way to qualify for our free, live training.

Solution # 3: Open a SEP if you are self employed or own a business.

Any employer (corporation, partnership, or self employed individual) can establish a Simplified Employee Pension Plan (SEP). This is true even if the business only has one employee. The SEP allows an individual to contribute the most money to an IRA (up to $41,000 a year).

If the employer wants to make contributions into a SEP, the employer must contribute the same percentage for all employees of the business who are eligible. To be eligible, employees must be at least 21 years old, must have worked for the business during 3 out of the past 5 years, and must have earned the minimum required compensation ($450 for the year 2000, which is adjusted annually). When desired, the employer may contribute up to 25% (approximately 20% for self employed individuals) of each eligible employee's compensation. Furthermore, employers may deduct from their taxable income every qualified dollar they contribute to the SEP.

Ex: Let's say you have a business and pay yourself a salary of $50,000 a year, you can contribute $12,500 to your SEP Forex IRA and will then qualify for our free training.

Solution # 4: Open a regular forex account instead of a forex IRA.

If you cannot take advantage of the three options above, then you cannot receive our free training by opening a forex IRA. You might consider opening a regular forex account instead and funding it with $50,000 to qualify for our training.

Using Equity Trust for your Forex IRA.
These flexible trust companies charge a small fee for their services (usually a small set up fee and annual maintenance fee). An IRA to trade currencies has to be established with a special trust company that gives the investor the flexibility to invest in nontraditional retirement investments such as real estate, futures, tax certificates, currencies, etc. Although there are various companies that provide these services to investors, we suggest that our clients use Equity Trust. Since we have been using Equity Trust for the establishment of our clients forex trading IRA's and managed forex IRA's, they are used to working with us and this usually speeds up the setting up of your account.

If you want to trade currencies with any type of retirement account other than the ones described in this section, please call us and we will put you in contact with someone that can help you (305-600-4651). You can also email us at support@forex-day-trading.com.

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