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

Discussion in 'Interactive Brokers' started by chvid, Jul 5, 2018.

  1. 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?
  2. tommcginnis


    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:
  3. truetype


    Too funny. Europeans love to disparage the US, but G-d forbid they can't trade US ETFs.
    SmallFry, jys78, SteveH and 2 others like this.
  4. chvid


    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?
  5. zdreg


    no it is not . the EU is a protectionist club visivi outsiders like the US and the Far East.
    avasfx likes this.
  6. zdreg


    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.
  7. chvid


    zdreg; wise words - I will be armed with patience.
  8. d08


    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.
  9. d08


    Business is separate from politics. I would trade North Korea if there was opportunity, doesn't mean I have to like the regime.
    sle likes this.
  10. chvid


    d08; I did read the thread, I just see things differently.
    #10     Jul 6, 2018