$52k gone from my IB account. What next, sue IB?

Quote from BlueHorseshoe:

Three highest probabilities:

1. IB identified it as their error and settled with the OP on condition that he keep the settlement confidential. Hence no word here.

2. They are in negotiations leading to a settlement which will include a confidentiality clause, hence no word here.

3. OP has egg on his face and doesn't giv a sh*t enough to set the record straight in 'public.'

As it stands, we are left w/ uncertainty - something with which traders are quite familiar.
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IBj sent me an email last Friday stating he should finish the summary of what happened on weekend. Hopefully he will give a full explanation here soon.
 
Quote from zzzap:

IBj sent me an email last Friday stating he should finish the summary of what happened on weekend. Hopefully he will give a full explanation here soon.
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But, did you get your money back?
 
regardless of the wording of IB's reply, and regardless of the fault, is IB supposed to reimburse--legally speaking?
 
According to the IB customer agreement the risk of IT failure of any kind is entirely on the customer. But noone can tell what a court would decide or what the result of an arbitration would be.
 
Quote from Pippi436:

According to the IB customer agreement the risk of IT failure of any kind is entirely on the customer. But noone can tell what a court would decide or what the result of an arbitration would be.
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true. putting in the contract 'our wiring department might steal away your funds at any time' doesnt mean it will hold on court
 
You have just entered the world of risk.

All brokers are faulty to varying extents. Many of us have chosen IB after wide experience - but that doesn't make them flawless, just better.
 
I'd feel better knowing if it was a server bug or a workstation bug. A server bug won't require any changes to TWS. I guess we'll know soon enough if we see a forced upgrade coming down the pike......
 
Why is this guy even wasting time posting on this site? Take your case to a Very good securities lawyer. If he takes the case, well then you know you have a case. If he declines to take your case, then you don't have a case.
 
Quote from arealpissedgoy:

Why is this guy even wasting time posting on this site? Take your case to a Very good securities lawyer. If he takes the case, well then you know you have a case. If he declines to take your case, then you don't have a case.
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No reason to get a lawyer if you can resolve the issue with IB directly. From what I have read so far on this thread, I would bet that the original poster gets all of his money back. If he were to hire a lawyer, the fees would certainly cut into his funds.
 
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