Compensation from IB

T

tradingpoker

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?
 
tradingpoker said:
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?
More...

@def
 
tradingpoker said:
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?
More...

Getting compensation from IB?? Hahahahahahaha!!! You will be more likely to be hit by lightning than to get compensation from IB. Unless there were some major defects with their system that caused the delay in relaying your order to the exchanges that they should've been able to detect and repair but didn't, you won't get a cent in compensation.

Most likely IB will blame it on the exchanges.
 
tradingpoker said:
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?
More...
Change vendor?
 
Two thoughts:
1. There are separate party software that works with IB, which maintains positions, equity, etc., that mostly would not be impacted if IB could not calculate properly.

2 For 20-30 years, I would always have a 2nd trading account with another firm, just in case of some issues preventing initiating or closing a position in main trading account

But the past few years, I just have an account with IB. I tried 2 or 3 other firms, but after a few trades, it was clear IB had far superior technology. I literally placed buy rather than sell orders at the new firms, as well as trading in the wrong instrument. Possibly learning and spending time with the other firms would have corrected that, but the cost of the learning curve would likely not reach the amount I "might" lose someday due to an IB problem,

Also, the markets, technology, etc., do not "know" your position, so in theory it is just as likely that preventing a trade would result in a profit/saving, rather than a loss. I've experienced that as well.
 
tradingpoker said:
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?
More...

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
 
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