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SIPPS and Forex??

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Comments

  • k6chris
    k6chris Posts: 787 Forumite
    Part of the Furniture 500 Posts Name Dropper Photogenic
    mantissa wrote: »
    Hi,

    I have been playing with demo accounts on FXCM and have been doing very well.

    I have a pension with SW and it lost 25% last year. Does anyone know of a way to put my pension fund into a sipp and be able to use Forex (preferably FXCM) as my means of investment??

    Thanks in advance.

    Phil

    Late post, but yes you can and an example of how to do it can be found at sippfx.com

    I am doing this and the process of opening the required accounts is quite straight forward.

    Chris
    "For every complicated problem, there is always a simple, wrong answer"
  • Freefox
    Freefox Posts: 2 Newbie
    Hi All,

    Really interesting thread :)

    I've been trading Forex successfully for ages now and was thinking I should really start to see if I can transfer that knowledge to trading my UK SIPP which is held at selftrade.co.uk.

    Bit confused as to what instrument I trade though? There seems to be loads of derivatives – ETFs, ETCs ETNs etc. Plus some that seem to offer extra leverage – 2 or 3 times a Long or Short position!

    Anybody give me a bit of direction as to what symbols/instruments I should be trading in my SIPP account to trade Forex?

    Any help appreciate.
  • Freefox
    Freefox Posts: 2 Newbie
    Anyone trading Forex in their SIPP that can help with this?

    Freefox wrote: »
    Hi All,

    Really interesting thread :)

    I've been trading Forex successfully for ages now and was thinking I should really start to see if I can transfer that knowledge to trading my UK SIPP which is held at selftrade.co.uk.

    Bit confused as to what instrument I trade though? There seems to be loads of derivatives – ETFs, ETCs ETNs etc. Plus some that seem to offer extra leverage – 2 or 3 times a Long or Short position!

    Anybody give me a bit of direction as to what symbols/instruments I should be trading in my SIPP account to trade Forex?

    Any help appreciate.
  • NuttyProfessor
    NuttyProfessor Posts: 5 Forumite
    edited 28 September 2012 at 10:36AM
    Hi,

    Is anyone still trading FX through a SIPP? I am very interested in doing this myself, however a check of the HMRC website seems to state that trading inside a SIPP will be taxed. I.e. there is no benefit to trading inside a SIPP.

    HMRC "Badges of Trade": hmrc.gov.uk/manuals/bimmanual/BIM20205.htm
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