You (hopefully!) won’t be looking for cheapest. You should be looking for a trustworthy broker in a trustworthy jurisdiction. Many if not most trustworthy jurisdictions will either have similar regulations in place. Even if they don’t, their brokers may not offer U.S. ETFs reasons.
Maybe you will be able to do it in the U.S., if you can get to open up an account with a U.S. broker. That leaves the question: how are you going to move funds in and out of it?
You can buy VWCE or VWRL at IBKR.
The „backdoor“ into VT through assigned options (as someone mentioned above) is something I‘d never recommend - unless someone specifically asked for it.
This has been discussed to death in this forum over the past 5+ years. I think people went as far as asking the federal authorities for their interpretation.
I don’t think IBKR is being explicitly advertised in Switzerland so would be eligible for reverse-solicitation to begin with. And secondly, there’s the execution-only opt out.
Yuh is very different, it couldn’t claim it wasn’t advertising those ETFs when they’re part of a small list of ETFs being able to be traded. It’s definitely not the same as IBKR, SQ or PF which are real brokers.
I vote for keeping calm and drinking some chamomile tea. As far as I can see, this still might turn out to be just some administrative issue, doesn’t it?
I truly hope you are right. However, the response I received by customer service is most likely a “standard” response (I don’t think the wrote it for me expressly). The fact that someone took the time to create a standard response mentioning Swiss residents has me worried.
I get that. Not that this helps much, but given the demand for cheap and more diverse US ETFs, the EU and CH will come under pressure sooner or later, no matter what. Protectionism never succeeds in the end.
It’s not like you can’t open an account to a swiss broker, but more like they don’t want to open one for you as it implies a s*** lot of paper work for them in order to comply with FATCA, and other specific legislation for US citizen.
For FATCA, it seems that Switzerland is negotiating with the US to apply the model 1 instead of the model 2 of FATCA which should be a good news for US citizen in Switzerland (it will be easiest to open a bank account for instance).
Thank you for contacting Interactive Brokers Client Services.
The warnings, order cancellations or rejections for instruments without Key Information Documents (KIDs) were related to a temporary technical issue on our side which should have been resolved in the meantime. We are sorry for any inconvenience.
As a Swiss resident for now you should be able to place opening orders for products (e.g. ETFs) without KIDs. You can also resubmit your orders if you would like to.
If this matter requires further discussions, please let us know.
Best regards,
IBKR Trade Desk
It’s not working yet, but today seems to be maintenance day.
Maybe it depends how one asked the question. Would you agree to share it with us @SwissMousse and @donato ?
I have the same issue, order has been canceled for reason of “no trading permission” and would like to write the support too.
Mit dem Lesen und der Teilnahme an diesem Forum bestätigst du, dass du die Forum-Richtlinien gelesen hast und damit einverstanden bist sowie den Haftungsausschluss auf http://www.mustachianpost.com/de/ akzeptierst.
