[SOLVED] I can not invest in US domiciled ETF anymore with IB

Investing / Brokers
152

At least I can trade with my CS UK account.

I think that website will always spell the end of the world for the banking system :slight_smile:

I’m not going to decide whether to use CS based on that. Also CS business is primarily as a broker, not a bank so that should be looked at with this lens.

(And having losses on HTM assets doesn’t matter unless you have to sell them, which isn’t really supposed to happen, it does reduce profitability – but if they make money on their brokerage that’s what the analysis should focus on).

153

Maybe they missed the memo on which CS everyone was talking about? :laughing:

154

Fixed here too!

I think we should all meet for the party of the year!

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155

Accidental market timing - bit of a discount today vs. Friday. :sweat_smile:

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156

fixed here too, yay :confetti_ball:

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157

Isn’t this an overreaction? At no time so far have I said to myself "damn, I missed out on buying 10,000 shares in VT because the stock suddenly went from $93 to $15!”

We talk about a temporary problem to buy VT. The sale remained possible at any time.

I understand the argument of the evasive answer that doesn’t appeal, the rest seems very excessive to me.

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158

Not at all.

The answer I got from customer service at IB was that the only way to keep purchasing US etfs was to reclassify as professional client

I was fortunate to be a member here, to benefit from the answers received by others. Otherwise I would have had no hint that it was only a temporary issue.

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159

Maybe IBKR is then not the right broker for you. You might want to consider to switch to a broker who has more qualified employees. These employees however might then cost also more for the broker. Or you want even consider private banking including a Swiss branch office.

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160

Maybe both. I can’t imagine keeping everything with a single broker, regardless of the quality of their customer service.

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which could be
?  

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None.

There is always a chance to have a bad experience with a customer services because of the lack of knowledge from the one who answered the question or didn’t really understand it (own point of view).

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163

A big thank you to this forum!
Thanks to you I stayed relaxed throughout this story, was prepared for the moment US ETF were blocked and unblocked and never had to reach out to the IB customer service

I mean it!
L.

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164

Well, I got this message on the 3rd May

image
image873×162 6.94 KB

On the same day the “bug” was fixed. I placed a limit buy order for VT. All seams back to normal, but due to the message I keep thinking if I’m missing something here


165

We are certainly missing decent customer service. If there’s anything else, we’ll find out, I guess.

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166

I keep in mind two things

  1. Switzerland is relatively small country for IB. Therefore, knowledge from customer service might be limited.

  2. Compliance regulation is a nightmare for banks brokers etc actually. They have tons of rules to respect, which is counter productive and decrease quality of service.

The good news with this episode is that we definitely know that IB is making a difference between CH and UE wrt kiid regulation.

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167

Fwiw, support has always been helpful and knowledgeable for me (but then I also try to be precise as to what the issue might be). I also wonder if different account size get different support level.

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