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Is there a way to get around the block that the EU has put up to trading US ETFs like spy, gld, nugt

I am a US citizen living outside the US in Europe. I trade using Ameritrade. Is there a way to get around the new EU rule prohibiting EU residents from trading US ETFs?

Answers

  • Here's a link from a UK site that explains a lot:

    https://www.justetf.com/uk/news/etf/us-domiciled-etfs.html

    I'm not familiar with this issue, and I'm not a lawyer, but the article suggests that EU brokers cannot offer US ETFs because the ETFs haven't provided disclosures required by the EU. But it doesn't specifically say that EU residents can't own them - although that might be true, too. It also seems to say that EU brokers CAN allow clients trade these funds if they are professional investors or "sophisticated" private individuals of high net worth.

    It seems to me that if you are a US citizen, and you are trading from a US-based brokerage account, the EU rules wouldn't apply to you, unless maybe you are trading through an EU-based Ameritrade office that has to comply with EU rules. If that's the case, maybe you could switch to a broker not bound by EU rules.

    What does Ameritrade say?

    In any case, you should probably get legal and tax advice before moving forward.
  • sixsix
    Thank you; markd, for your comments and suggestions. I called Ameritrade which is US based. They informed me that according to EU rules I am unable to trade ETFs and mutual funds but I am able to trade single securities.
    --george
  • Boy, I don't get that at all. Maybe talk to Fidelity or Schwab or maybe a regional broker who doesn't do business in the EU?
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