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Options trading in a SIPP


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Currently the only broker to offer options trading in a SIPP in the UK is Interactive Brokers whom I use. This is done through one of three SIPP trustees, one of which is Options Pensions, who IG use for their SIPP. As IG now have the tastytrade platform to trade options in a taxable account, would it be possible to join up the tastytrade platform with the SIPP provider and compete with Interactive Brokers by offering options trading in a SIPP. Covered Calls and Cash Secured Puts are both suitable in a cash trading account within a SIPP. I would certainly be interested.

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When I emailed them last year asking if they allowed option trading in an ibkr acct, they said only if I had “ sophisticated/ professional “ status , I appreciate these two requirements are totally different though….based on FCA definitions….

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Yes they are very different and the actual form they ask you to complete is a self certification sophisticated investor self designation and not a professional client application form.

 

btw if you are still interested in trading options in a sipp, try atsipp. They will let you use IB to trade options without a professional or self certificated designation, which is sensible in my view as no sophistication is required to trade covered calls and cash secured puts in a cash account

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the reason I contacted optionspensions  was as a last resort for an options enabled sipp since atsipp stated to me that they were no longer offering options trading in an ibkr sipp for NEW customers - bummer!

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