A good SIPP administrator to use with Interactive Brokers UK

timrichards

Anyone know of a good SIPP administrator that you can use with Interactive Brokers UK - and be classed as a professional investor.

My current SIPP provider does not allow me to trade certain US stocks in my SIPP because they don't allow professional investors.

Thanks.

timrichards

I'm looking to trade an OTC stock GBTC

NotaBene12

timrichards said:

I'm looking to trade an OTC stock GBTC

Technically, you are not allowed to trade cryptocurrency assets in a SIPP since January

However, I am not sure whether this restriction shows up in any way on the IBKR platform

You are also not supposed to trade a non-ucits fund but people manage to do that on IBKR via put/call options. So, probably, you can use options to trade GBTC, too

NotaBene12

timrichards said:

Anyone know of a good SIPP administrator that you can use with Interactive Brokers UK - and be classed as a professional investor.

My current SIPP provider does not allow me to trade certain US stocks in my SIPP because they don't allow professional investors

I am having the same issue. Last week I contacted all 3 SIPP adminstrators for IBKR but so far heard only from @sipp. They would not give me a professional investor status

As I said, the restrictions can largely be circumvented via options trading but one can never tell how long this workaround will be there

timrichards

From what I can see, the restriction is not IB's end - it is to do with the SIPP administrator.

Maybe there are SIPP administrators out there who will allow professional status?

Thrugelmir

You need to demonstrate professional status as an investor. 

timrichards

Anyone trading wider product selection in their sipp?

Prism

timrichards said:

Anyone trading wider product selection in their sipp?

Like what? Commodities, private equity trusts, certain infrastructure, foreign stocks?

Those are all allowed in my SIPP (Youinvest) but Crypto isn't

Thrugelmir

timrichards said:

Anyone trading wider product selection in their sipp?

Yes......  

Tolteca87

Got a few foreihn stocks in my SIPP

timrichards

Hey, OK - I'm particularly looking at:

- Leveraged ETFs, like proshares TQQQ

Crypto - or derivatives like crypto ETFs - would be great, but it appears the regulators dont allow them