OK, I found more information on the issue. When trying to enter a trade manually via the web interface I get the following error:
The system is unable to complete your request at this time.
After getting this error for some time I tried to switch into QuickTrade interface. Here the system gives more verbose message:
ERROR REPORT:
"BUY 1 IVV ARCA" No Trading Permission, Customer Ineligible; Ineligibility reasons: This product is currently unavailable to clients classified as retail clients. Note: Individual clients and entities that are not large institutions
generally are classified as retail clients. There may be other products with similar economic characteristics
that are available for you to trade. See:
https://kb.clientam.com/article/3203It used to work before. It seems that IB stopped many retail clients from trading ETFs. They reply with this message:
Unfortunately there is nothing that can be done at the moment. Our legal and compliance team is going through the retail account to see who may be eligible to be set as professional and therefore trade ETFs again.
Is anyone else experiencing the same issue? Is there a way out beside having 500k EUR account balance as they mention in the link:
https://kb.clientam.com/article/3203 ?
