"Classic" IB tech support

[syswizard]

Quote from dst:
This feature is currently not supported; however it seems like a great idea, would you please submit it via our suggestion box? Thank you!
http://www.interactivebrokers.com/en/general/poll/poll.php#list

Let's get "real" ... here is a recent comment from a "roque" IB API forum that it is not censored:

It (TWS API) is a nightmare. If you look at the sample C++ code you will see that they generate a tick size event when a new tick price event happens then they send the same tick size event again. I forget the logic but if you search the forum you will see how people handle it. This is a clue though - how they can screw up the simplest concept in the financial world - a tick - is amazing. The rest of the api goes downhill from there so be prepared to spend 80% of your time dealing with warts.


I would say: despite IB's popularity, the room for improvement is simply enormous. Real sharp people would not let this kind of "mistake" hang around, yet this one has been around for several YEARS now.

 

[originalskunk]

Quote from syswizard:

Real sharp people would not let this kind of "mistake" hang around, yet this one has been around for several YEARS now.

Its not a "mistake". The data feed is designed to update a grid. If anything, people trying to turn a sampled feed into a T&S feed are the ones making a "mistake".

 

[syswizard]

Quote from originalskunk:
Its not a "mistake". The data feed is designed to update a grid. If anything, people trying to turn a sampled feed into a T&S feed are the ones making a "mistake".

No they aren't....they haven't be provided the necessary "tool" to fetch true 1 minute OHLCV bars. Had THAT been provided in the API, then the angst would be reduced. Both API functions reqMktData and reqHistoricalData have been proven to have reliability and performance problems.

Look, I'm not here to disparage IB....they provide more than many other brokers....and we are still in the days of the Wild West with this electronic trading "stuff". One broker that gets high marks from this forum can't even provide reliable DAILY bars using their own platform....and I've complained for 6 weeks now with no fix made or even promised. And they have no API either. So everything is relative....and no question, almost each and every broker has deficiencies with their offerings....and if no one complains, those deficiencies simply hang around.

Three key attributes of a good electronic broker:
1) Do they LISTEN to their users regarding problems ?
This includes communicating and tabulating the reports.
2) Do they ACT in a timely fashion to RESPOND to the reported problems ?
This includes workarounds, suggestions, providing a time-frame for resolution, etc.
3) Do they ACT in a timely fashion to FIX the reported problems ?
This is the toughest....

Being great at #1 and #2, but lousy at #3 does not a great broker make.

 

[mjh]

I'm over all the crap that IB deliverd. I moved on to a better broker and am not 100% trouble free but............I am making more money do to better executions and when I do have a question it gets answered.

Hard to believe that a broker would actually give you support for (in my case) trading close to 1500 contracts/month. Hard to believe that someone who makes a living taking your commision money would actually take the time to hire knowelgable people and friendly customer support personnel. I am so much better off mentally now due to the fact that I have a broker "on my side"

I finally had it with IB when it took them 6 days to wire 10K of my profits to my bank so I could actually spend some of my hard earned money. I finally decided that if I had a car that gave me that much trouble I'd sell it or get a new one--end of story.

Yes I will tell you who I use now when I am with them for more than 6 weeks, just want to make sure they are consistent to be fair.

In any case----SO LONG IB--YOU HACK BASTARDS!!

 

[sprstpd]

Quote from mjh:

I finally had it with IB when it took them 6 days to wire 10K of my profits to my bank so I could actually spend some of my hard earned money. I finally decided that if I had a car that gave me that much trouble I'd sell it or get a new one--end of story.

I have never had a problem with wiring money out of IB. Was there something special in your instance which delayed the process?

 

[OldTrader]

Quote from sprstpd:

I have never had a problem with wiring money out of IB. Was there something special in your instance which delayed the process?

I've never had a problem either. With either wiring to IB or receiving a wire from IB. For years.

When I read a post like mjh's usually it turns out that the guy either did something wrong, there's a special set of circumstances that no one else has, or he just stupid and didn't follow the instructions.

OldTrader

 

[newbunch]

Quote from sprstpd:

I have never had a problem with wiring money out of IB. Was there something special in your instance which delayed the process?

Over the many years I've been with IB, I've probably done a hundred wires and ACHs to and from IB and never had a problem.

 

[sprstpd]

Quote from OldTrader:

When I read a post like mjh's usually it turns out that the guy either did something wrong, there's a special set of circumstances that no one else has, or he just stupid and didn't follow the instructions.

I wanted to give him the benefit of the doubt before saying the same thing.

 

[thrunner]

It is unusual for IB to take 6 days to complete a wiring instruction. However, some wiring transfers are disabled when you tried to transfer funds to another competing institution eg Tradestation RJ O'Brien for the first time. You have to contact customer service before they will allow it.
Try it.

 

[GTC]

Quote from mjh:
I finally had it with IB when it took them 6 days to wire 10K of my profits to my bank so I could actually spend some of my hard earned money. I finally decided that if I had a car that gave me that much trouble I'd sell it or get a new one--end of story.

I also did a lot of wire-in/out to IB. Sometimes, they indeed took more time than other brokers' wire transfers. IB's ACH time-frame is slightly slower than the competition--but still a good option. According to the IB CSR, recently IB has upgraded the security measure that tries to detect unusual activities. It is possible that though the intention is good, it can sometimes cause hiccup and unnecessary delays since it is still not very smart yet.