US ETF

[Arindom]

Hello

New to IG platform. share trading.

Just cannot buy US ETF s , its saying complex instrument,  have gone through 3 advisors over telephone but just not getting sorted. Any help will be welcome.

Regards

[Cristiano]

I’ve the same problem with the TVIX on the Nasdaq (Velocity Shares Daily 2x VIX Short-Term ETN), can’t buy it.

Is this related to the Retail or Professional user status?

Thanks

 

[Caseynotes]

32 minutes ago, Arindom said:

Hello

New to IG platform. share trading.

Just cannot buy US ETF s , its saying complex instrument,  have gone through 3 advisors over telephone but just not getting sorted. Any help will be welcome.

Regards

Hi, did you fill out the W8-BEN form for trading US stocks from your My IG web page > Settings?

[Arindom]

2 minutes ago, Caseynotes said:

Hi, did you fill out the W8-BEN form for trading US stocks from your My IG web page > Settings?

Yes I have done that. Something about professional trader?

[Caseynotes]

3 minutes ago, Arindom said:

Yes I have done that. Something about professional trader?

ok, you probably don't want to register as a professional trader. Something rings a bell but can't remember. let me get back to this thread, if not prompt again on Monday when there may be IG staff around.

[Arindom]

1 minute ago, Caseynotes said:

ok, you probably don't want to register as a professional trader. Something rings a bell but can't remember. let me get back to this thread, if not prompt again on Monday when there may be IG staff around.

Thanks @Caseynotes ...... I do want to register, as that's what I joined IG..... investing ETFs

[Caseynotes]

Just now, Arindom said:

Thanks @Caseynotes ...... I do want to register, as that's what I joined IG..... investing ETFs

ok, check the IG etf screener may have more info;

https://etfscreener.ig.com/?cols=AssetClass,Currency,ExpenseRatio,NetAssets,PrimaryExchange,ReturnM1,ReturnM12&filters=GlobalSector,ISA,LeveragedFund,UCITS&map=null&ISA=Yes&search=FTSE 250&page=1&sortCol=NetAssets&sortDir=-1

 

Professional status has some pretty high hurdles to jump through;

https://www.ig.com/uk/help-and-support/accounts-and-statements/my-accounts/what-is-a-professional-client-and-how-do-i-become-one

[Arindom]

3 minutes ago, Caseynotes said:

ok, check the IG etf screener may have more info;

https://etfscreener.ig.com/?cols=AssetClass,Currency,ExpenseRatio,NetAssets,PrimaryExchange,ReturnM1,ReturnM12&filters=GlobalSector,ISA,LeveragedFund,UCITS&map=null&ISA=Yes&search=FTSE 250&page=1&sortCol=NetAssets&sortDir=-1

 

Professional status has some pretty high hurdles to jump through;

https://www.ig.com/uk/help-and-support/accounts-and-statements/my-accounts/what-is-a-professional-client-and-how-do-i-become-one

@Caseynotes So it seems, but then how will I buy the usual ETF s then..... it's not letting me buy the very simple ones like QQQ, SOXX IBB 

[Caseynotes]

12 minutes ago, Arindom said:

@Caseynotes So it seems, but then how will I buy the usual ETF s then..... it's not letting me buy the very simple ones like QQQ, SOXX IBB 

yes, not sure, as said rings a bell but can't remember, it may be something simple like needing to do a first trade person to person via the dealing desk, will come back.

[appress]

I tried to buy the UFO etf but there's something about EU or US law which says that without a published KID/KIID document as an EU citizen you cannot buy those instruments. Whether the same applies to spreadbetting those etfs am not sure...

[Caseynotes]

On 29/05/2020 at 20:20, Arindom said:

Hello

New to IG platform. share trading.

Just cannot buy US ETF s , its saying complex instrument,  have gone through 3 advisors over telephone but just not getting sorted. Any help will be welcome.

Regards

 

2 minutes ago, appress said:

I tried to buy the UFO etf but there's something about EU or US law which says that without a published KID/KIID document as an EU citizen you cannot buy those instruments. Whether the same applies to spreadbetting those etfs am not sure...

Thanks for bumping this up.

[dmedin]

13 hours ago, Caseynotes said:

Thanks for bumping this up.

👍

[umairj99]

Hello,

I have the same issue. I joined IG to invest in ETFs and it is not allowing me to get US ETFs. I am not a professional trader. I only have share dealing account.

[Guest Umairj99]

@Arindom Did you manage to sort the US ETF issue out? I have the same problem and I have reached out to help centre, filled in the form online but still can't get US ETFs. I joined IG to invest in ETFs

[umairj99]

@Arindom Did you manage to sort this issue out? I have the same issue. I can't get US ETFs. I have signed the online form

[richiedharma]

Yes, same here. Seem to be unable to buy US ETFs. IG has got standards before one can jump on US ETFs. Something to do with being a professional trader first. 

https://www.ig.com/au/professional-trading

Any advice on how else to get onto US ETFs from Australia? Maybe another broker perhaps? 

[DanUKAU]

I successfully bought a US ETF but am now encountering the same error described here when trying to purchase an Australian ETF.

 

It seems impossible to get into contact with support to assist which is concerning.

[Farmer2]

Has this been sorted out? Can a UK resident buy US ETFs?

 

[OfentseIG]

9 hours ago, Farmer2 said:

Has this been sorted out? Can a UK resident buy US ETFs?

 

Hi @Farmer2 

Thanks for reaching out. US ETFs are still not available for retail clients. 

We would also like to draw your attention to the Regulation (EU) No 1286/2014 (the PRIIPs) regulation states that all retail clients must be provided with a Key Information Document (KID) prior to the purchase on any security (PRIIP) within the scope of the regulation. This regulation would prevent you from buying any US or foreign denominated ETF. As this ETF is listed on the NYSE exchange, you would not be able to purchase it with IG. 
This regulation covers (inter alia):

•    Foreign Exchange (FX) Transactions 
•    Over The Counter Derivatives 
•    Exchange Traded Derivatives (including ETFs , ETCs & ETNs)

A KID must be provided to all European retail clients. UK retail clients remain subject to these rules at this time.

All the best, 

OfentseIG