Can you beleive IB - no SOX options
- Thread starter iceman1
- Start date
Quote from iceman1:
That's all. Not asking THAT much. I know that sounds radical to some.... but to think that years ago in the "old" days the customer was "always right". Anyone old enough to recall that, or care ?
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The customer was "always right" because the customer was paying 3-10%+ commish. And the reality was that if you didn't have a 7 figure account you got no service.
I was a broker I know
I'd rather be in control of the situation on my end that have my brokerage be in control of the situation when they are obviously having technical problems. Wouldn't you?
In other words, technical problems will happen whether you like it or not. Thinking about and preparing for these type of scenarios seems like a prudent thing to do (for example, have a backup brokerage account).
I like IB and haven't had the problems that others have had, but to any prospective IB clients this is the situation (IMHO):
1) They WILL hold you to the "standard" electronic trading disclaimer: if you have problems like stuck quotes and "pink" order anomalies, etc, that costs you money - too f*ing bad. A trading error that the audit trail shows to be their fault, they will own up to it. Their phone service just won't handle any emergency situations you may have with the TWS, or at least, it will cost you $30 per trade. This is if you pay $10 a month in commish, or $10,000; it doesn't matter. So, word to the wise...
2) They have more than the average number of problems with their Trading Work Station because firstly, as far as I'm concerned, Java just won't get the job done in a reliable manner. And secondly, because they CONSTANTLY change and "upgrade" the fricken thing. I don't use 1/10 of the features it has and I think the added complexity is going to cause more unhappy campers and will hurt, more than benefit IB.
IB, please use some of the ad money you have been spending to pay for a few, just a few, knowledgeable CS phone help people. And tone down the 8-times-a-month TWS upgrades.
Regards,
C (still a happy IB user...for now)
1) They WILL hold you to the "standard" electronic trading disclaimer: if you have problems like stuck quotes and "pink" order anomalies, etc, that costs you money - too f*ing bad. A trading error that the audit trail shows to be their fault, they will own up to it. Their phone service just won't handle any emergency situations you may have with the TWS, or at least, it will cost you $30 per trade. This is if you pay $10 a month in commish, or $10,000; it doesn't matter. So, word to the wise...
2) They have more than the average number of problems with their Trading Work Station because firstly, as far as I'm concerned, Java just won't get the job done in a reliable manner. And secondly, because they CONSTANTLY change and "upgrade" the fricken thing. I don't use 1/10 of the features it has and I think the added complexity is going to cause more unhappy campers and will hurt, more than benefit IB.
IB, please use some of the ad money you have been spending to pay for a few, just a few, knowledgeable CS phone help people. And tone down the 8-times-a-month TWS upgrades.
Regards,
C (still a happy IB user...for now)
==========Quote from iceman1:
you can't see all the positions... and this means with IB's system you cannot trade the options online.
I take very small positons with IB since 1). I don't trust there sub-optimal marginning and 2) there are too many tmes this kind of b.s. glitch can occur as they continue to add more and more needless stuff to their platform (IMHO).
I'm not interested in being somewhere and not being ablt to reach a rep when needed to place an order to close only; what if I want to enter again (open) the same options, I'm not with IB to do what I did many years ago.... call a broker. Further when you call IB they know your name and account number of incoming calls, so if they don't want to talk with you, i.e. cause you've been on their case for example, they just DO NOT pick up the phone. NOW... do you think IB's management does anything
As we speak right now I have been holding for anout 12 minutes Now how the H do you place any viable phone trades that way! Now a guy form tech picks up and he has no idea what I'm talking about.
Years ago when people actually demanded to be treated right as customers and with some regard, this firm would never have gotten this big with it's obvious rotten support and service... IMHO! Its the sign of the times that a firm with little or no real service orientation can succeed, today. Shows the lower standards of society.
Ice
p.s. back on hold
Ice did they fix it???????
Had a similiar problem gettin an option position that i owned on TWS quote screen, every thing else would enter but that liquid position; reported it on IB voice mail, this mourning.
Dont take that personaly ;
never have answered trading desk timely, NEEDS to be improved!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Also did you try the ''rapid order entry'' which you can work ,but appears on top of ''order management ''quote screen, but is separate from it???????
