CFD's in a SIPP

BigC123

Hi all.  I'd be grateful if anyone could help me with this? 

 I have been happily trading CFD's and options within my SaxoBank account within my sipp, but saxo have recently notified me that they are removing these products from their sipp offering.
Can anyone recommend any other brokers and sipp administrators who will allow CFD trading in a sipp?   

I've been searching endlessly and personally contacted all the companies I could find but have not found anyone so far.

All help greatly appreciated and please dont turn this in to a "why would you want CFD's in a sipp" thread!  

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midlandsimon

CFD's along with leveraged FX/ equites are what providers will class as non standard. The standard/non standard investment list was provided by the FCA to providers. This had a big impact the capital adequacy position of providers who had high numbers of non standard investments. It actually costs a provider more in some instances to have you as a client holding a non standard investment than they will make from scheme fees. 

There are some proivders who will still take non-standard investments in some instances but i would steer clear. You may wish to try AllTrust + Westerby trustees. 

Although i would get still get rid of the CFD's from the SIPP and count your lucky stars your moving away from Saxo. Have one of the worst service reputations in the industry. 

Good luck
Simon

LHW99

I believe Trading 212 offer CFD's and were going to offer a SIPP. They are not UK based, but I know nothing else about them

Malthusian

LHW99 said:

I believe Trading 212 offer CFD's and were going to offer a SIPP. They are not UK based, but I know nothing else about them

"Coming soon" since 2020.  I'd cross that off my list. 
@OP: Is switching personal assets into CFDs and switching your pension investments in the other direction an option? (Personally I wouldn't hold CFDs at all but that's not of interest to you. I only tacked that on so my post isn't interpreted as endorsing CFDs.)

BigC123

Thanks for the replies so far guys.  

I'm an experienced trader and am used to going long/short on shares on a daily basis.  I fortunately dont have anything negative to say about Saxo's customer service purely because I've not had much need to contact them.   I opened the account and everything worked and was executed as expected so no issues for me.  
Saxo allowed me to trade CFD's long and short the markets around the world for a decent price within my SIPP, but they are removing that option come October.

Hence why I'm seeking a SIPP provider and Broker that will allow CFD trading.    

Thats all I'm seeking an answer to.

Many thanks