ETF Scanner vs ETF on Platform

[Guest MIvanova]

Hey - is there is any reason why some of the ETFs from ETF Scanner are not available on the platform i.e. the search tool doesn't find them. Or I'm doing it wrong?

Examples might include, say majority of Utilities ETF eligible for ISA

Thank you

[JamesIG]

When you first go to the etfscanner.ig.com you'll be asked if you want to see all ETFs or just ISA eligible ones. This is because legally some ETFs are not UCITS or ISA eligible. 

[Guest Igi]

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Posted just now

I have found that UK brokers do not allow purchase of ETFs whether inside or outside an ISA wrapper unless they have "UCITS ETF" in the name.

The problem is that the EU considers ETFs to be "Collective Investments", requiring special regulation and approval. Such approved ETFs must have "UCITS ETF" in the name, while the use of those letters by non-approved ETFs is not allowed.

Thus using https://etfscreener.ig.com and applyinhg the advanced filter "UCITS" should limit the results to eligible ETFs.

https://www.handbook.fca.org.uk/handbook/COLL/6/9.html lists these regulations.

[Guest Igi]

11 minutes ago, Igi said:

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Posted just now

I have found that UK brokers do not allow purchase of ETFs whether inside or outside an ISA wrapper unless they have "UCITS ETF" in the name.

The problem is that the EU considers ETFs to be "Collective Investments", requiring special regulation and approval. Such approved ETFs must have "UCITS ETF" in the name, while the use of those letters by non-approved ETFs is not allowed.

Thus using https://etfscreener.ig.com and applyinhg the advanced filter "UCITS" should limit the results to eligible ETFs.

https://www.handbook.fca.org.uk/handbook/COLL/6/9.html lists these regulations.

I should probably add that the above restriction only applied because I am a non-professional investor. If I had filled out the broker's forms, signed away certain rights, and had this had been accepted, then I was told that I would be able to buy the non UCITS ETFs I wanted. However it seemed better to take out an account with a US broker instead.

[Guest JLB]

Hey,

What US broker did you find that accepts UK citizens.

 

[Guest JLB]

Hey

What US broker did you use that accepts UK citizens?