Yes, indeed. Individuals who own self-directed IRAs (which are controlled by the individual investor) and Roth IRAs (which are funded with after-tax dollars) can trade in the forex market.

To do so, they must create a special account, though. Technically, they open either type of IRA with a forex broker, and then roll over funds from one of their existing IRAs into it. The broker becomes the account's custodian. Forex IRAs can either be self-directed by the individual opening the account, or managed by a professional forex manager.

What's the advantage? Basically, you're able to day-trade tax-free. Plus, using forex within a retirement plan also provides diversification to an investor's portfolio.