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Criteo SA Message Board

  • dudleeuf dudleeuf Jan 4, 2006 2:31 PM Flag

    Answer to Old Question

    Recently, someone posted that his/her broker would not allow the warrants to be purchased within an IRA account. I just ran this question past Schwab, and they assure me they have no such restriction. They also added that they had no idea why any broker would have such a restriction.

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    • AMTD told me that on two different calls. If anyone had a different answer from them, I would appreciate. These are likely in-house restrictions/differences. When we get the warrants, I will test AMTD's IRA software order system with a fake buy order(low price) and see if it accepts the order. Sometimes in-house help is not accurate.

      So I funded my margin account last week with an electronic transfer, and lo and behold, another quirk. Two business days later, my order to buy call options were rejected by the system. They explained that these funds were on hold for five business days before I was allowed to make cash purchases such as options. However, the system allows the purchase of stocks (with margin) immediately. How about that? Weird, but happened on Monday. Needless to say, the option price more then doubled yesterday.

    • That agrees with what I found out when I accessed the IRS regulations for tax deferred accounts. The only investment vehicles that cannot be accumulated for an IRA, Roth IRA or a 401K account are collectables such as stamps and coins. Even options can be traded within these accounts per the IRS.

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