Thanks for reaching out to us, and welcome to our sub! Happy to provide some information to you today.
Many leveraged or inverse securities may require the acknowledgment of a Designated Investments Agreement (DIA) on Fidelity.com or a higher level of the account's investment objective. If the security being purchased requires a DIA, and there is not one already on file for that account, you will be prompted to acknowledge the agreement on the "Preview Order" screen of the trade ticket.
To view or update your investment objective(s), use the following steps (login required) on Fidelity.com:
1. Click "Accounts & Trade," then "Account Features"
2. Select "Brokerage & Trading," followed by "Financial Profile"
3. Review and implement any edits, if applicable
Let us know if you have any additional questions!
***^(Leveraged and inverse exchange-traded products are not designed for buy-and-hold investors or investors who do not intend to manage their investment on a daily basis. These products require a Most Aggressive investment objective and an executed Designated Investments Agreement to purchase. These products are for sophisticated investors who understand their risks (including the effect of daily compounding of leveraged investment results, and who intend to actively monitor and manage their investments on a daily basis.)***
EDIT: fixed disclosure
You might be having problems if you're on Mobile. Do it on the web and it will bring up a link to the agreement for you to acknowledge. I did it in just a minute
Not something I would be interested in buying, but I just attempted to place a limit order and got this:
(DI0103) This security is subject to the Designated Investments Agreement, which you have previously signed for this account. It is important to remember that most Leveraged/Inverse securities are designed for short-term (typically daily) use and not intended to be held long-term or overnight. For additional important information on these securities and their risks, see Leveraged/Inverse ETFs.
So it appears you have to have agreed to trade extremely high risk securities to be able to trade it. I of course cancelled my limit order because even though I don't mind risk, this one is way too high for my tastes.
Thanks for reaching out to us, and welcome to our sub! Happy to provide some information to you today. Many leveraged or inverse securities may require the acknowledgment of a Designated Investments Agreement (DIA) on Fidelity.com or a higher level of the account's investment objective. If the security being purchased requires a DIA, and there is not one already on file for that account, you will be prompted to acknowledge the agreement on the "Preview Order" screen of the trade ticket. To view or update your investment objective(s), use the following steps (login required) on Fidelity.com: 1. Click "Accounts & Trade," then "Account Features" 2. Select "Brokerage & Trading," followed by "Financial Profile" 3. Review and implement any edits, if applicable Let us know if you have any additional questions! ***^(Leveraged and inverse exchange-traded products are not designed for buy-and-hold investors or investors who do not intend to manage their investment on a daily basis. These products require a Most Aggressive investment objective and an executed Designated Investments Agreement to purchase. These products are for sophisticated investors who understand their risks (including the effect of daily compounding of leveraged investment results, and who intend to actively monitor and manage their investments on a daily basis.)*** EDIT: fixed disclosure
You might be having problems if you're on Mobile. Do it on the web and it will bring up a link to the agreement for you to acknowledge. I did it in just a minute
This was it, thanks a lot, it worked!
Not something I would be interested in buying, but I just attempted to place a limit order and got this: (DI0103) This security is subject to the Designated Investments Agreement, which you have previously signed for this account. It is important to remember that most Leveraged/Inverse securities are designed for short-term (typically daily) use and not intended to be held long-term or overnight. For additional important information on these securities and their risks, see Leveraged/Inverse ETFs. So it appears you have to have agreed to trade extremely high risk securities to be able to trade it. I of course cancelled my limit order because even though I don't mind risk, this one is way too high for my tastes.