You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
$52k gone from my IB account. What next, sue IB?
- Thread starter zzzap
- Start date
Quote from Lon Eagle:
I would put money on the fact that the order was not created by a manual double click of the mouse.
I could be wrong but just my 2 cents worth.
I don't think that this is the issue though.
Through IBj, we know for a fact that two basket orders were submitted in rapid succession. How else can this happen except for a double click?
Quote from GTS:
.................................
Again, if the double-click was properly handled by TWS the user would have realized what had happened and managed it at that time. Since TWS failed to provide any feedback and concealed the problem with this hidden order that only manifested itself hours later it is unreasonable to blame the user.
I agree with you. I think the OP has a very strong case and would find the arbitration process a lot more sympathetic to his version of the story (especially in the U.K.).
BTW, If this order was indeed a result of a double-click, shouldn't it too have been rejected instantaneously since the OP did not have enough margin in his account to cover this order?
Good luck to the OP, must be very stressful to go through this sort of a situation.
Quote from LMeyers:
I agree with you. I think the OP has a very strong case and would find the arbitration process a lot more sympathetic to his version of the story (especially in the U.K.).
BTW, If this order was indeed a result of a double-click, shouldn't it too have been rejected instantaneously since the OP did not have enough margin in his account to cover this order?
Good luck to the OP, must be very stressful to go through this sort of a situation.
You seem to be missing the point here. IB has already agreed to compensate the OP. No need to arbitrate that. Not sure what "version of the story" has to do with this....there's an entire audit trail there which tells the story.
The only thing undecided now is how IB will compensate the OP. I don't see how IB could compensate him for anything beyond when he should have been aware by any reasonable standard. If he chose to play the market beyond that point, then that portion of the loss should rightfully be his.
OldTrader
there are lots of things you don't see, Oldtrader. You have expressed your opinion. Repeating your opinion on others will not change the outcome.Quote from OldTrader:
You seem to be missing the point here. IB has already agreed to compensate the OP. No need to arbitrate that. Not sure what "version of the story" has to do with this....there's an entire audit trail there which tells the story.
The only thing undecided now is how IB will compensate the OP. I don't see how IB could compensate him for anything beyond when he should have been aware by any reasonable standard. If he chose to play the market beyond that point, then that portion of the loss should rightfully be his.
OldTrader
Quote from ET99:
there are lots of things you don't see, Oldtrader. You have expressed your opinion. Repeating your opinion will not change the outcome.
What things don't I see? Help me out here, since you evidently see something unseen by some of us.
By the way, I thought we all knew that posting on a message board was only an "opinion", and that it would likely not change the outcome.
OldTrader
Even IB's audit trails can and did have bugs. Some of the bugs are reportedly fixed. Regardless, if the case goes to a judge, IB might be able to show joint negligence from both parties and reduce the compensation for the unwanted trade specific damage. On the other hand, OP could also be rewarded for some punitive-damage/pain-and-sufferings for IB's dropping the ball and keeping him in fully dark for so long. If OP can prove IB already kind of knew about clicking/double-clicking issue and did not inform the traders or did not act to correct it in time, then OP has an even better case. These are still moot points. I hope it gets resolved soon reasonably so that both parties can move on.Quote from sprstpd:
Through IBj, we know for a fact that two basket orders were submitted in rapid succession. How else can this happen except for a double click?
I knew one person who (thought) made money from an unwanted trade. However that broker (named starting with "Sc") took all those money back citing him a reason that the broker would have compensated him had it been the other way around.Quote form dont:
2) Should they pay him back?
If he had made money instead of lost would he pay it to them?