Not exactly, there’s quite the crucial difference in fact:
Not exactly, there’s quite the crucial difference in fact:
And a lot of doomsayers and FUD
Yes, a broker can do as they want and be ultra conservative (and they probably don’t have a choice if they’re domiciled in EU/EEA), but there’s so many ways they don’t have necessarily have to.
reverse-solicitation/executation-only, increasing existing positions is also explicitly allowed, etc.
https://www.newsd.admin.ch/newsd/message/attachments/58957.pdf (p18 and following)
I think Switzerland was pretty clear they didn’t want to apply Mifid as is.
Recieved the same answer today. Hope I can soon buy VT again!
I have been thinking about opening a second broker account for some time. I might keep IB for Swiss/Euro securities and for the low fees on currency exchange, and open a Charles Schwab account for US etfs. Maybe I’ll get decent customer service, who knows.
same same here:
the answer:
Thank you for contacting Interactive Brokers Client Services.
The warnings, order cancellations or rejections for instruments without Key Information Documents (KIDs) are related to a temporary technical issue on our side which will be resolved soon. We are sorry for any inconvenience.
We have started to make products without KIDs subject to the European Union’s PRIIPs regulation available again to our clients resided in Switzerland. Temporarily restricted products should be automatically available for you again as soon as the update is rolled over for your account. The rollover process has started and is currently ongoing, no further actions are needed from your side.
As the update will be fully implemented, as a Swiss resident you will be able to place opening orders for products (e.g. ETFs) without KIDs again. You will be also able to resubmit your canceled orders if you would like to.
So we have to wait…
Today I got the following message:
seems they changed the rules from 1st of May? Is it possible?
As far as I know VT has not KID. I wrote the support, lets see what they say.
any of you with the same issue or a solution? What would be the backup plan?
I have a feeling the price of VT is going to jump up the moment they fix this.
Are they offering U.S. ETFs to Swiss customers? They restricted them for their EU customers, so I wouldn’t be surprised if they did - or are going to do - the same for Swiss residents.
Here we go
The issue got fixed on my side
And I also got the info from my contact that it was a temporary rollout bug.
What about you?
For me, VXUS & VTI work now. But VT is still giving trade notice lol. I guess I wait.
Still getting trade notices on avantis etfs
Fixed for me as well i can buy my VT again!
Tradable again now….
VT is buyable for me now
Fixed for me too as of this morning
I can buy my ETFs as well. But considering that UPRO has options expiring every Friday, I might actually consider premium harvesting by selling puts on it, mwahaha .
Back at normal.
As you said it was just a matters of time.
For me, it was a matter of unacceptable customer service, given the answer I received from IB customer service (US etfs are no longer available to retail clients in Switzerland). Very disappointing.
I wouldn’t go with Charles Schwabb
You get the customer service you pay for and IB is super cheap.
I don’t mind personally, I didn’t contact customer service and the issue solved itself in the meantime…