IB Made an Error. Will They Fix It?

The purpose of this thread was not to put "pressure" on IB to fix my problem. There have been many many threads about IB unfairly resolving customer complaints in the past. Although the emotional tone of my posts might have indicated otherwise the primary purpose of this thread was to publicly show IBs response to my problem (good or bad).

I'm a proponent of sharing information and experiences has a consumer. I believe this is good for the consumer and good for businesses. If I was only concerned with putting pressure on IB I would not have posted the outcome has it wouldn't have served my purposes.

Besides, this thread is a success for IB. It was a straight up case where fault was evident. They did the right thing. I'm now a more loyal customer of theirs and everyone who is reading this thread can be more comfortable believing that IB will make the right decisions when disputes arise.



Quote from sprstpd:

I think the first mistake the original poster made was to start up this thread the day of the mistake. It shows an inherent distrust in IB to fix the problem, disclosing it in a public forum. Now I know it is very tempting to do this, as you think it will provide a little extra pressure for IB to deliver on any errors that occurred on their part. However, I wouldn't be surprised that your act of making the issue public has delayed the response time.

I have been guilty of hypothesizing and attributing blame to IB when it wasn't warranted - it is an easy way to deal with unfortunate situations. The key is just patience, even though it seems difficult. IB is not out to hose you. However, when a customer brings accusations to public boards such as this, expect some heat coming from the other side of the ball. Next time, why not just wait for the final IB ruling before taking it to EliteTrader?
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Quote from cohenmichaela:

The purpose of this thread was not to put "pressure" on IB to fix my problem.
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Why did you start this thread the day of your complaint against IB? Don't you think that is jumping the gun a little and putting pressure on IB in a public forum?
 
To be perfectly honest I didn't think a post on ET would affect IBs actions one way or another. I know there are a few IB people who comb the site but I think they normally answer questions technical in nature or about product offerings.

With that in mind my primary reason was that of all the complaints I had seen on ET about IB, all of them were after the fact and normally missing facts as well. I wanted this to be a factual and unbiased (well, has unbiased has I possibly could be) representation of my experience with IB customer service.

Granted my emotions have had the best of me, particularly when I accused IB of an account error when I didn't fully understand my margin situation. I'm human and I make mistakes. The people at IB are human too. In the end I think I'm happy with the results and I hope others who have read this thread will gain an insight into problem resolution with IB.

Quote from sprstpd:

Why did you start this thread the day of your complaint against IB? Don't you think that is jumping the gun a little and putting pressure on IB in a public forum?
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Quote from cohenmichaela:

To be perfectly honest I didn't think a post on ET would affect IBs actions one way or another. I know there are a few IB people who comb the site but I think they normally answer questions technical in nature or about product offerings.

With that in mind my primary reason was that of all the complaints I had seen on ET about IB, all of them were after the fact and normally missing facts as well. I wanted this to be a factual and unbiased (well, has unbiased has I possibly could be) representation of my experience with IB customer service.

Granted my emotions have had the best of me, particularly when I accused IB of an account error when I didn't fully understand my margin situation. I'm human and I make mistakes. The people at IB are human too. In the end I think I'm happy with the results and I hope others who have read this thread will gain an insight into problem resolution with IB.
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I think you did the right thing for posting this thread---If not you'd still be waiting for your money and maybe not even get it. You've handled it like a pro. Your command of the english language is very good to say the least.

As for me, I was in the process of moving a large amount of money to IB. After reading this thread, I'm having second thoughts.
 
I had thought of asking but in the end I decided against it. It certainly would be fair however, I didn't want to open another can of worms for 50 dollars :)


Quote from Raystonn:

Out of curiosity, did they also give you the risk-free rate of interest on the amount they owed you?

-Raystonn
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Thanks kiwi and ddunbar. I appreciate your audience during this experience.

Quote from ddunbar:

I'm glad to know things were resovled properly. Good luck in your future endeavors and good trading!
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