Compensation from IB

[DaveV]

... I later found out the problem was not with me, but with the exchange etc ...

If the problem was with the exchange why do you think IB should compensate you?

 

[eastern_warrior]

The problem on the 17th was the exchange. Take a look at the CBOE website

Cboe Options Exchange System Issues Resolved
June 17, 2022 10:30:26

Please be advised that issues impacting OPRA market data for all Cboe options exchanges has been resolved.

All Cboe systems are operating normally.

Cboe Trade Desk+1.913.815.7001tradedesk@cboe.com


Cboe Options Exchange System Status
June 17, 2022 10:09:55


Please be advised that Cboe is currently investigating potential issues impacting OPRA market data on all Cboe Options Exchanges. Will advise.


Cboe Trade Desk
+1.913.815.7001
tradedesk@cboe.com

 

[wastelands]

Issue 1: My daily profit and loss was freezing and delayed for many days, so when I was trading it was causing me to lose money, until the point I had to stop trading until they fixed it.

Issue 2:

Friday 17th I had some open options positions, I had some calls for NVDA. The market turned and broke my point where I wanted to go short via some puts and close my long calls.

No trades where going through, I was stuck in the position. I tried and tired market orders to open my put and closed my call, yet they were not filling either. The stock kept dropping so my call was going down in value and my put that would have been going up on value was not open.

So I was losing a decent amount on both sides. I called IB as the stock kept dropping, after 15 mins someone answered. He was clueless and told me the issue is my end! I later found out the problem was not with me, but with the exchange etc.

Surely I am due some sort of compensation here? I trade daily, I pay $100s per day in commission.

Any thoughts please?

so you closed the call position or still holding ?

 

[tradingpoker]

You lost money just because your PnL froze or didn't display the correct $$ amount? Really?

I use the TWS platform on my desktop. For many days my PNL was freezing and having a delay.

On the platform in the top right hand corner box you have your overall daily PNL and then PNL for each stock/option you are currently trading.

The problem was for both of them, for a few days. In the end IB fixed it.

 

[tradingpoker]

Simply change the broker.
There are hundreds of brokers for you to choose from.
No one force you to choose IB.


Then you don't have to worry about seeking compensation from IB, or about suing IB.

After you have change the broker, then you can put full attention to trading

Not true, I am in the UK day trading US stocks and Options. my options are very limited

 

[tradingpoker]

The problem on the 17th was the exchange. Take a look at the CBOE website

Cboe Options Exchange System Issues Resolved
June 17, 2022 10:30:26

Please be advised that issues impacting OPRA market data for all Cboe options exchanges has been resolved.

All Cboe systems are operating normally.

Cboe Trade Desk+1.913.815.7001tradedesk@cboe.com


Cboe Options Exchange System Status
June 17, 2022 10:09:55


Please be advised that Cboe is currently investigating potential issues impacting OPRA market data on all Cboe Options Exchanges. Will advise.


Cboe Trade Desk
+1.913.815.7001
tradedesk@cboe.com

Correct, this was the issue.

 

[tradingpoker]

so you closed the call position or still holding ?

After 15-20 mins went by and my position now was down a lot, I was able to close it.

 

[tradingpoker]

If the problem was with the exchange why do you think IB should compensate you?

Because that is their issue and not mine. I pay them, not the exchange. Also IB customer support told me the problem was my end. That 15 min convo was very stressful whilst I am watching my account go down. It could have been spent better ways, but he gave me the wrong advice/help.

 

[Bad_Badness]

You broke the dry spell of about 4 months. Another person thinking that trading is somehow like Retail Purchasing. This is trading. You did not read, like most people, all of the disclosures. But also you did not get the gist of what is says.

THIS IS TRADING. Stuff happens. In fact it a happens all the time and you can depend upon it. If it is not accounted for in the "IT setup" part of you trading plan, it should be now.

Best of luck

 

[tradingpoker]

You broke the dry spell of about 4 months. Another person thinking that trading is somehow like Retail Purchasing. This is trading. You did not read, like most people, all of the disclosures. But also you did not get the gist of what is says.

THIS IS TRADING. Stuff happens. In fact it a happens all the time and you can depend upon it. If it is not accounted for in the "IT setup" part of you trading plan, it should be now.

Best of luck

So I should have a plan of what to do when my account can not trade but the market is still open and my positions are still moving against me. The plan would be what?