Have you ever been threatened by Interactive Brokers ? Yes, we did

[mike-claire]

saschabr,

IB never suffered a loss from us. On the contrary, we suffered losses from them when their system was down and it happened more than once. These are the facts, but as always, brokers bear no responsibility, never, except when the SEC washes the dirty "lingerie" of big brokers such as Merrilly Linch and S.S.B. I am laughing when I see that your "democracy" is based on big CHEETS

 

[FasterPussycat]

go try that crap with ANY broker then come back and tell us how you got your peepee whacked again. LOL!

i'll bet IB will be glad to see you go, you sound like a cowboy. :-/

 

[perr]

OK OK Mike and Claire lets go to WAR !!!

Let's see who can make the most " Money".

It's just about money Mike just ask your wife.

 

[mike-claire]

FasterPussycat,

cowboys have never existed here in Europe, except in your Far West. But this is were you come from, don't you?

 

[mike-claire]

Well,

I am wasting my precious time with you guys. IT does not matter.

ADIEU

 

[TriPack]

Originally posted by mike-claire
IB phoned twice and THREATENED US. We were forced to close the position at 4343 with a noticeable loss because IB was waiting on the phone for us to do so. As a result, we decided to close our account immediately after that accident simply because we cannot trust a broker who goes against us. We have been edging our positions before this accident and IB never complained. Today, they decided to do it all of a sudden and without notice. My question is the following: although we know that we cannot hold a position with the correct maintenance amount in our account, is it fair that IB allows anyone to increase his/her future limits without having the starting maintenance margin? Is it fair, legal and respectful vis-à-vis their clients? I doubt so and I would like to submit a complaint to the SEC and COB (Commission des operations boursieres, here in France).

I would appreciate your views on this matter. One thing is certain : IB will never have us again as their clients.

Let's see if I have all the facts: You increased your limits, IB let you do it (their fault) they called you up twice (rather than autoliquidating and locking your account) and told you to liquidate (you say threatened). How did they threaten you? Did they poke you with cushions and make you sit in the comfy chair? Your position was a loser so you blame it on the broker for not letting you hold on longer to hopefully make a profit when you are trading over your limits and their capital is on the line? It is legal (because you agreed to it) fair, because you agreed to it and respectful because they didn't just autoliquidate, but let you have a chance to get out (called twice in fact). Go ahead and complain. The SEC will just laugh at you.

 

[BullFighter]

Originally posted by mike-claire
BullFighter,

la loi de la force et de la violence n'a jamais conduit a la paix. Je te souhaite bon courage parmi tes McDonalds et ta sous-culture de la consommation. Je prefere la terre de la culture et de la tolerance.

mike-claire,

Face it, you are WRONG!

You violated your broker's margin requirements.

Your broker was kind enough to call you. Most would have closed you out immediately.

You came on this board and cried like the little baby that you are.

You insulted all Americans.

And then you resort to your native language to continue your insults.

You have lost all respect.

I will accept nothing less than your personal apology to me, your personal apology to the EliteTrader community, and your personal apology to all Americans!

 

[mike-claire]

TriPack,

they phoned and they THREATENED to close the position immediately. They did not give us the time to close it how we wanted. And we were right at the end of the day. It would have never happended with a European broker, since Europeans are UNDERSTANDING...

 

[TriPack]

Originally posted by mike-claire
And what about IB? Do you believe that it is sane that they allow their notorious system to work like that? What do you think about it?

No it isn't sane. They have a serious controls issue in their software if you were able to get away with that.

The nationalism or rather continentalism in the other reply is just humorous though.

 

[IndexTrader]

mike-claire:

Sorry you lost money on a trade that would ultimately have been profitable, but...

"the margin does not matter"

Of course it does, otherwise all brokers would have gone bankrupt by now.

"We did not have the maintenance requirement. That's all."
Then why speculate in this manner and why blame the broker?

"However, our position was positive and we never caused the slightest problem to IB before. "

Then you sound like you actually made money on the trade?

"We would have closed the position by 22:00 as we always did."
IB's computers can't babysit a HIGH RISK position.

IB's job is to manage THEIR risk. It's your job to manage YOURS.

Listen, you found a loophole in the software which you thought you could exploit. Good for you for trying. But you still cant blame the broker for being overleveraged to the point of having all your position yanked away.

So you lost money today. Hey me too!

Lets have drink. Tommorrow will arrive soon.