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Saved by the EU (again)


Green Devil

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Green Devil

Trying to trade some US ETFs today, i find today that my broker has now blocked all EU customers from trading US ETFS!

WTF?

Apparently the EU changed the rules for our own protection, off course there are EU based equivalents but the fees are far higher and the markets are illiquid.

https://www.elitetrader.com/et/threads/priips-kid-on-ib.322160/

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longtomsilver

As a retail investor we can trade the ETFs that hold a relevant key information document (KID). Otherwise they are only open to institutional and professional investors. I very nearly signed the paperwork to become a professional investor (as I met a few of the criteria, including working in finance for a few years a long time ago but excluding the €500,000 of funds sadly) however the small print exclaims that you lose FSCS protection and the guarantees that come with it. 

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Inoperational Bumblebee
On 20/07/2018 at 21:49, longtomsilver said:

As a retail investor we can trade the ETFs that hold a relevant key information document (KID). Otherwise they are only open to institutional and professional investors. I very nearly signed the paperwork to become a professional investor (as I met a few of the criteria, including working in finance for a few years a long time ago but excluding the €500,000 of funds sadly) however the small print exclaims that you lose FSCS protection and the guarantees that come with it. 

Might be worth doing so with just the one broker? Or does it not work like that?

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