def: âHowever, some of the comments are out of line.â
If youâre referring to my comments, def, I disagree completely with your assessment. IMO, I have been far kinder, with my commentary, than most people would have been after having had similar experiences with IB.
âyou obviously have an axe to grindâ
Guilty as charged. IBâs poor customer support and attention to detail has cost me a lot of money. It is my hope that I can prevent other traders from going through some of the experiences Iâve had them with IB. It is also my hope that, when enough traders leave IB, the management may see the need to improve the support system. Thus, those traders that have remained at IB will benefit, as well.
âyou stated your case, now give it a break.â
Now I think your comments are outta line. If you had been on the receiving end of the same situations as I then I am certain you would be singing a vastly different tune. I guess it all depends on whoâs ox is gettinâ gored.
It is my opinion that IB is, flat out, the worst broker Iâve ever traded with, in regard to customer support. I have never had the types of problems at other brokerage houses to the extent that Iâve had with IB. Itâs unfortunate that you find my comments offensive but I will not keep silent about my experiences.
As far as âgiving it a breakâ, the phrase tends to imply that I am incessantly ranting about IB with every post. Far from it. The issue would not have come up again if it werenât for IBâs poor management of todayâs situation resulting in other traders posts on the subject. Iâve simply responded with sound advice, a little humor, and legitimate commentary about problems that are obvious to every IB client.
These are not small problems, def. Apart from software concerns, I'm talking about consistently long telephone hold times when a trader needs to exit a trade, apathetic, rude, and ineffective customer service, and a general disregard for clientele that permeates almost all communication Iâve had with IB. Sort of a âlove it or leave itâ attitude. You are the one and only exception to these experiences.
âThis is no excuse for IB to go down but if you are trading electronically, this is one of the negative aspects of the business.â
As dottom mentioned already, the issue is not so much IBâs current Globex difficulties as much is it is how quickly and effectively the trade desk deals with a trader's problems. If IB's gonna charge $30 bucks then it oughta staff the trade desk with enough individuals to pick up the phones in a timely manner. Watching thousands of dollars tick away, with no knowledge of whether to offset or not, while you wait on hold only to find that the IB trade desk cannot confirm or deny the existence of an order is inexcusable.
The bottom line is that when you weigh the current competitive costs of other brokers who provide responsive trade desks, many of whom are now equal to or less expensive than IB, depending on your volume and account size, it is very difficult to justify primarily trading with IB any longer.
