IB data fees and staff contradictory replies

[OldTrader]

Look genius.....if I calculated it correctly the charge here is about $25 per month ($200 Hong Kong Dollars). This is what you've been whining about both here and elsewhere. Why not just pay $25 per month to get rid of the pop-up?

I suppose you understand that the people you are talking to are not the people who make the decisions on this. So what they are doing is giving you an OPINION as to why it is as it is, and why IB does it this way, etc etc.

The bottom line is that IB wants to cover their data costs. Most people want it....with the exception of you. Frankly, it looks to me like you're out of step here.

Why don't you do as they suggest....make a request for this feature? That's what that venue is for. Don't expect IB's customer reps to make a decision of this type to change something in the software. What's the matter with you? Do you know anything about how businesses work?

For $25 per month your problem goes away. You then take the steps necessary to get them to change (if they want to). Or, you can always go with a different broker. If I was IB I would terminate your account....you're too much trouble over something this minor.

OldTrader

 

[Bob111]

what popup every one is talking about here? i only have subscription to US stocks. after i enter Canadian stock ticker-i got popup-"subscribe for data”. there is check box on lower left corner, saying- “do not show this again" or something like that. once i checked-no more this subscription popup. i tried on next day, day after-no problem at all. i said this before-i know at least 2 guys, who trade thru IB without any data subscription at all. they doesn’t have popup problem too..
imo $25 not worth all research and time Benign spend complaining about all this stuff for like 2 months already..
dude, do you realize that you look cheap and stupid,specially after OldTrader did currency conversion for you?

 

[def]

&uot

Quote from Benign:


def said:


As to the first part, if you read the table carefully, it reads ;Maximum $200 per device". Why did you skip the word "maximum" in your replies? It is the maximum only. That means it can charge less. Of course the bigger the brokerage, the easier you get a deeper discount from the exchange. Now you are charging us the maximum, that is $200, and there is no waiver or discounts unlike the US markets. In other words, you always need to pay for $200 no matter how heavy you trade.

As to the second part, it is silly to assume that a company who charges less than $200 is taking a loss. A business is to make money. A business is not a charity. If it didn't make any money, how could it survive?

As the person who dealt directly with the exchange on this matter and reviews the exchange data bill, I ensure you that they charge us 200 HKD per terminal. If you don't believe me, please pick up the phone or email the exchange. Frankly, I don't like being called a liar. We are not marking up our cost on HK data and are simply passing along the charges. In fact, we don't pass along all the fees. If you read the link carefully you'll also see that we pay for data lines and another 384K HKD per year.

 

[Benign]

Quote from cvds16:
since you seem te be staying Ib must not be that bad ...

Except I still hold an account in IB. I switched back to my old broker for the time being.

Quote from cvds16:

and for what it's worth, when I was trading 10 years ago, I used to pay over 10.000 usd a year just to get real-life data ! my broker didn't provide at all.

Why don't you switch to the most expensive brokers in the world?
Essentially commissions and trading costs are nothing to you.
Go and spend US50 per side to get your real-life data from that broker.

 

[Tums]

can't afford the hk$200 fee?
I don't know what you are trading. It is not the HSI future for sure.

 

[Benign]

Quote from OldTrader:
Look genius.....Why not just pay $25 per month to get rid of the pop-up?

Yes you are a genius. Yes you assume the problem will be gone if I pay $25. Please drink some coffee and read again.

If you still don't see it, let me point it out for you. That persistent popup will show up for EVERY SINGLE market which you don't subscribe data.

If you trade for 4 markets, perhaps you need to pay $100 or more.

You shouldn't mind because you don't face the same situation as mine, and you have the philosophy that "everyone must pay it (no question asked) as long as they can afford it".

If IB asked you to donate $100 each month before you can trade, will you gladly accept it (no question asked)?

I suppose you understand that the people you are talking to are not the people who make the decisions on this. So what they are doing is giving you an OPINION as to why it is as it is, and why IB does it this way, etc etc.

If it is not the right channel to report a bug/design flaw, where should I report?

Where can I report bugs/flaws to the IB technicians?

Of course they don't make the decision but they are the representatives of IB. They will pass through the decisions made by IB to us.

For some reasons IB wants to keep that popup stay. This is what they say. What reasons? Who knows?

The bottom line is that IB wants to cover their data costs. Most people want it....

Want what? Datafeed. Yes everyone wants market data to trade. But you messed two facts up.

Everyone needs market data to trade but not everyone needs IB's market data to trade.

If you care to do some research, IB's market data is unreliable. Some customers complain about IB's market data (eg stale quotes, buggy price charts).

Why don't you do as they suggest....make a request for this feature?

LOL, do you think this is a feature request?

On a second thought, I think you are right because It is IB intention to make someone impossible to trade if they don't subscribe your data. Now you need to remove a "feature" which is wanted by IB.

What is the success rate? Next to zero?

If I was IB I would terminate your account

Thanks for the reminder. You give me one more reason why I shouldn't submit it as a feature request.

I already know IB will revenge by locking up your account when you tries to move money out of them.

Of course you would argue again it is just a small delay. It is perfectly fine for IB to keep your money a bit longer. You won't die because of this, will you?

 

[kiwi_trader]

For crying out loud Malignant (no, sorry, you're doing that with all your whinging and screaming).

Most markets are free so your 4 market argument is complete crap. When the market data providers want to charge IB for the data then they charge us - when its free they don't. Which is kind compared with charting companies that add on extra fees anyway.

If you can't afford 25 bucks then don't trade it or accept the popups.

But lets be realistic.

FUCK OFF and find another broker. IB are bad for you but not nearly as bad as you are for them. You are a waste of their time. Fuck off to Alaron ... you'll love them.

 

[OldTrader]

Quote from Benign:


If you trade for 4 markets, perhaps you need to pay $100 or more.

If IB asked you to donate $100 each month before you can trade, will you gladly accept it (no question asked)?

That's right genius....4 markets might be $100. You gotta pay to play as they say. So what you do is you pay the money to get rid of those pesky popups, and then using the proper channels you suggest that they change TWS to eliminate the popup. Oh, by the way, do you notice that you're the only guy having this problem? Ever wonder why?

If it is not the right channel to report a bug/design flaw, where should I report?

Where can I report bugs/flaws to the IB technicians?

If it were actually a "bug" or a "design flaw", you would open a web ticket. Your problem is it's not a "bug". It's there for a reason....to warn people regarding the lack of market data. So, what you need to do is suggest a change in TWS in the proper venue, the features poll.

For some reasons IB wants to keep that popup stay. This is what they say. What reasons? Who knows?

Again, it's there to warn people of the problem of no market data. Just a point of logic....the fact that you think you don't need the warning doesn't mean that no one needs the warning, and perhaps need it repeatedly.

If you care to do some research, IB's market data is unreliable. Some customers complain about IB's market data (eg stale quotes, buggy price charts).

Research? LOL. I've been an IB customer now for about 8 years. I know all about their market data. You are absolutely wrong in your asertion that it is unreliable. "Some customers" complain about anything....I mean look at you for an example. We got another guy today complaining that his stop didn't trigger at 4:30AM, not understanding that he needed to check a box in TWS to allow triggering outside of market hours. I've learned through reading these boards that people will complain about literally anything. But it sure as hell doesn't mean they are right. And in the case of data...they aren't. Now if you want to talk about "unreliable data", why don't we talk about nearly every quote vendor during a time like Fed announcements, etc....when the markets become busy. I've seen some these lag by as much as several minutes. No lagging on IB's part. I suggest YOU do some research.

I already know IB will revenge by locking up your account when you tries to move money out of them.

Of course you would argue again it is just a small delay. It is perfectly fine for IB to keep your money a bit longer. You won't die because of this, will you?

More bullshit. I've been moving money out of IB for years with no problem at all. They don't "lock" your money up. And in your case, if I were them, I'd pay you to leave.

Let's put it this way genius. If you can't afford $25, or $100 then you need to quit trying to trade and go get a job. This is called stumbling over nickels on the way to real money. It's not going to happen.

OldTrader

 

[Benign]

Quote from damnit:
Get down on your knees and pay the small f#cking fee of $25 bucks and be thankful you are alive.

LOL. It is amusing that you like to blindly follow the wrong logic made by the same person.
Read again. That persistent popup will show up for EVERY SINGLE market which you don't subscribe data. If you trade for 4 markets, perhaps you need to pay $100 or more.
For people who think paying something extra is not a problem, please promise yourself that you will donate IB $100 EVERY MONTH. You can't trade if you don't do. damnit said "it is just a small f#cking fee" so please act now and donate the extra $100 to IB?


For people who say they don't think it is a problem to be forced to pay extra bucks that they don't need, could I kindly ask you guys to make such a feature request:
"IB, please get more revenues through the compulsory payment scheme
I suggest everyone who read it must vote for it. I would like to propose a "compulsory payment" scheme. Every trader have to pay an extra US$25/month for every single market they trade. Doing so will get you a nice ticket (permission) to submit orders through the world greatest broker.
Don't ever tell me you want to refuse this scheme because:
) it is not a big deal
) you can afford it anyway
) the fee is very small
) don't tell me you can't make more than $25 profits per month?
"

If enough people vote for it, I will eat my hat and shut up.

 

[dont]

Quote from kiwi_trader:

For crying out loud Malignant (no, sorry, you're doing that with all your whinging and screaming).

Most markets are free so your 4 market argument is complete crap. When the market data providers want to charge IB for the data then they charge us - when its free they don't. Which is kind compared with charting companies that add on extra fees anyway.

If you can't afford 25 bucks then don't trade it or accept the popups.

But lets be realistic.

FUCK OFF and find another broker. IB are bad for you but not nearly as bad as you are for them. You are a waste of their time. Fuck off to Alaron ... you'll love them.

Now Kiwi, why oh why, won't you get the message and fuck off, you two bit wanker.
Or do we have to nuke that stupid island you call home properly LOL

By the way France may not be in the final but at least the All wets aren't either