I am trying to buy an ETF using my account in Interactive Brokers. I am surprised to see that it is not possible. I am living in Europe and trying to buy an ETF in US dollars.
Their response to me:
UK Retail clients are restricted from trading in US ETFs. Opening orders from retail investors residing in the European Economic Area (EEA) who attempt to enter an opening order that are associated with a product that does not comply with the EU's Packaged Retail and Insurance-based Investment Product Regulation (PRIIPS) will be rejected. The regulation is intended to enhance understanding of these products through the provision of disclosure documentation. This documentation is referred to as the Key Information Document (or "KID") which. The KID provides information such as product description, costs, risks & performance.
This seems to be a new regulation for EU citizens. Anyone else face this issue? What would be the best route for buying into an ETF as a person living in Europe?