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Jim Dean

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Joined: 10/11/2012
Location: L'ville, GA

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Subject : OmniVest and IRA Accounts
Posted : 3/22/2013 9:41 AM
Post #24781

Afaik, the OmniVest/TP combination is not yet able to properly handle an IRA account (please correct me if necessary).

That is, for an IRA account, regardless of account size, there is a mandatory day-of-trade-plus-three-business-days delay imposed any time a position is closed, BEFORE those funds are available again for opening new positions. The delay is less (one day instead of three) for Options trading in an IRA account.

OmniVest needs to be able to properly track what's going on for an IRA account, so that we don't have to continually update the current account balance. That is, when OVest closes out a trade in an Account designated as an IRA account, OVest should keep track of when those funds will become available and NOT presume they can be used the same day to open new positions.

Ed could you please comment on whether this is already planned, and if not, what you would consider the priority to be? Reason ... I'm considering a rollover of a pension plan into a GX Trader IRA account specifically for use with OmniVest.

Thanks.
Deleting message 24781 : OmniVest and IRA Accounts


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