Interactive Brokers and SPY: This product is currently unavailable to retail clients?!

C

chvid

I am getting the following message attempting to trade the etfs: SPY, TLT and DBC:

This product is unavailable to clients classified as retail clients. Note: Invidiual clients and entities that are not large institutions generally are classified as retail clients. There may be other products with similar economic characteristics that are available for you to trade.

I have an interactive brokers account in USD and is placed in Denmark.

I have been trading in and out of these three instruments hundreds of times with no issue; but have had a 2 month break and now I am getting this message.

Is there a way around this?
 
tommcginnis; thanks for the link to the other thread. I just read though it and it is maddening.

Completely absurd that the EU would cut its retails investors from the cheapest and most transparent ETFs on the market.

zdreg; what way around this do you see?
 
chvid said:
Completely absurd that the EU would cut its retails investors from the cheapest and most transparent ETFs on the market.
More...
no it is not . the EU is a protectionist club visivi outsiders like the US and the Far East.
 
tommcginnis said:
https://www.elitetrader.com/et/threads/priips-kid-on-ib.322160/

Sorry, but you been had.

It's not IB's deal, but they should've been telling you for weeks.
I don't know if other brokers acted similarly.
(Nor, how long it might last.)
But it's stupid paperwork for the product, compounded by silence by the broker(s??)....:mad:
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undoubtedly every affected firm is looking for a solution. while silence may not have been a smart pr move one should not let hurt feelings be their driver.
 
chvid said:
tommcginnis; thanks for the link to the other thread. I just read though it and it is maddening.

Completely absurd that the EU would cut its retails investors from the cheapest and most transparent ETFs on the market.

zdreg; what way around this do you see?
More...

That's not what happened, did you even read the topic on it?

EU bureaucrats are asses for implementing this, IB is at fault for not efficiently warning customers but SPDR is where it ends because they're refusing to file the KID as many others already have. Funny how everyone shits on IB but not on SPDR who can actually do something to fix this.
 
truetype said:
Too funny. Europeans love to disparage the US, but G-d forbid they can't trade US ETFs.
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Business is separate from politics. I would trade North Korea if there was opportunity, doesn't mean I have to like the regime.
 
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