Experience with Interactive Brokers SIPP

caldi9

Good evening,

has anyone had any experience with a SIPP that is indirectly managed through Interactive Brokers? There is dedicated administrators IB list:

https://www.interactivebrokers.com/en/index.php?f=1228

Thanks

ColdIron

A brief glance and they look like a CFD/options setup, I won't be banking my retirement on them. Why would you use an outfit like this when there are many well established and mainstream providers to choose from?

• Note: Interactive Brokers (UK) Limited does not support SIPP accounts directly, rather only through one of our pre approved SIPP Administrators

caldi9

Because I mainly invest in stocks, in particular non-sterling ones and I will not pay some provider 1.5-2% for FX.

EdSwippet

ColdIron wrote: »

A brief glance and they look like a CFD/options setup, I won't be banking my retirement on them.

Beneath the somewhat over-glamorous web site, Interactive Brokers are actually a decent, reputable and cost-effective provider for some cases where traditional mainstream providers don't work well. They are particularly useful for folk who move around between countries, and so have a good following in the expat communities.

That's not to say Interactive Brokers are necessarily particularly suitable in this case. Just that they are not anything dodgy or less than above-board. They do have a heap of add-on features that an average retail investor would probably want to ignore, but aside from those they can still be used to trade stocks and ETFs on various exchanges readily and economically.

caldi9

Thanks - anyone who has his/her SIPP through IB?

caldi9

Fwiw: fees range from 400-450 for each SIPP admin through IB. Don't see how that is competitive at all.