[Request] - ARK Innovation ETF - ARKK - [NON COMPLIANT]

Ah is that what you meant by ‘ibank’?

I mean the rules are totally arbitrary anyway. I cannot buy an ARK ETF unless I’m accredited but I can by all of the individual components?

I think the Stake offering is very good if you are only after US ETFs and Stocks.

Agreed on the arbitrary nature of the rules - seems kind of silly to be an issue in 2020.

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Alright finki, let’s be friends - think we had a mix up in communication.
I work in fin markets, but not equities but it sounds like you have extensive exp with equities and in particular, scaling/running retail equities brokerage businesses. What are your thoughts on Robinhood’s delayed entrance into the U.K? With Revolut/Moneybox/Monzo building out their ‘one stop shop’ platforms, do you think they risk becoming distracted/trying to do too much relative to Robinhood/Freetrade, who can focus on their core offering?

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From what I have heard Robinhood has plenty of issues with UK regulators. Following a couple of major mistakes in the US it got on the radar of UK and Australian regulators in a bad way.

The errors were going to require so much time and money to fix that the push into new markets became a poor opportunity.

Regarding the accredited investor thing, is that something Freetrade could add to make these foreign ETFs available? maybe make it available to Plus subscribers? I don’t know much about the rules on these things

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Yes no reason why Freetrade couldn’t great a way of assigning accredited status to investors but this would seem a low priority compared to other things.

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Would probably be worth doing longer term though, as there’s loads of requests on here for US etfs with no KIID

Yes but Robinhood would have to build out an accreditation methodology whereas one already exists with Stake so there would be competition in that sphere.

I suppose IBKR, Tastyworks, Firsttrade will also do if you don’t want to invest $30K in Stake

Yes but IKBR, I can’t speak for the others, is a pain as you have to have used their platform for a year amongst other things. IKBR mandate €500,000 which is very annoying considering the FX rate changes can push you just outside this.

I’d just stop re-visiting this thread. Lots of arrogant people talking down to you.

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I am not sure if I am missing something but I have an account with TW and it allowed me to access US ETFs with no issues and without any min. amount mandate. I think it’s the same for IBKR and FirstTrade.

TW is a US brokerage platform right? Are those actual ETFs or just CFDs?

IBKR definitely requires accreditation:

https://ibkr.info/node/3298

Yes TW is US based broker. I just checked with them and they do offer US ETFs. I think they don’t have any restriction as of yet. Possibly, it will come sometime in future.

I think they manage to get away with it because they are a US based broker and only ask for a SSN/ITIN. I’m not sure if this is legal or not but it is definitely treading the line.

Can we have this ETF on Freetrade? Will be great to have this as it is on the platform

None of these are available on Freetrade to add due to EU regulations mandating ETFs provide a KIID (which ARK do not).

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Oh no, thanks for the heads up anyway.

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Will this change after January 2021?

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