Customers of Interactive Brokers file class action complaint over management of portfolio margin acc

[Overnight]

We can certainly agree on that one. They seem to be pushing and pushing the limits. Obviously for them it doesn't matter, the risk management team can make a presentation on "how well we are protecting ourselves" and everyone claps...except the customers.

I just looked, for one listed pharma name (500 million cap), to short with PM, the initial margin is 5.5 times cash. So, to short $10k worth you need $55k in your account. This is indefensible.

Peterffy is worth billions, he can do no wrong. So stick with him or find an alternative. What other choices do you have?

 

[d08]

Peterffy is worth billions, he can do no wrong. So stick with him or find an alternative. What other choices do you have?

Complaining and hoping they listen to long time loyal customers, like a good business would do. IB people are around on ET.

 

[Overnight]

Complaining and hoping they listen to long time loyal customers, like a good business would do. IB people are around on ET.

You are very funny. IB is the big-box retail version of brokers. Do not be deluded.

 

[Gambit]

We can certainly agree on that one. They seem to be pushing and pushing the limits. Obviously for them it doesn't matter, the risk management team can make a presentation on "how well we are protecting ourselves" and everyone claps...except the customers.

I just looked, for one listed pharma name (500 million cap), to short with PM, the initial margin is 5.5 times cash. So, to short $10k worth you need $55k in your account. This is indefensible.

I had to read that twice. My guess is that IB wants standard ETrade type customers instead of the semipros and independents. Petterfy wants to become a trillionaire and kick out the ladder so that nobody else can climb to his heights

 

[Gambit]

Guys, I can only reiterate. There are greener pastures. Plenty of futures firms service semi pro/pro customers and connect to frontier markets. If you're trading foreign options and equities, then it will be a challenge to find a broker but they do exist! But to each his own..