IB: missing CHF, check your statements.

Awhile ago IB had an interest rate calculation problem. It affected all accounts and it took them awhile to settle everyone's accounts properly (I am guesstimating it took about 3 or 4 days).

It sounds like this time everyone here has a legitimate complaint and I'm sure IB will fix the problem as soon as they figure it out on their end. I doubt it will happen on a weekend though. Personally, I wouldn't be worried about the discrepancies in totals. IB has had various problems over the years and in my opinion they have always been fair in sorting them out. But sometimes it takes longer than one would like. Good luck.
 
Quote from brandon12:

were's ib steve or def to answer if this is true. i haven't seen any problems in my account
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I'm here. Keep in mind I don't scan every thread on this forum 24/7. I assure you if there is a problem with the statements, it will be corrected with the utmost urgency.
 
def, while it may be reassuring to hear from someone who is part of IB's senior management, why do you suppose that, all too often, too many of your CSRs don't seem to share your consistently professional attitude?

After all, outside of ET, it is the CSRs who are the primary, if not the only, points of contact between your organization and your client base. It's hard to imagine that generally assuming that the client is always wrong, unless and until proven otherwise, would be good for business.
 
I had several problems with "missing money" and other various statement issues during my relatively brief stay with IB. I have used a few other brokers and never had any of these issues anywhere else.
 
So I talked to IB chat regarding one of my accounts. It seems to be that there was a "cut off problem" when calculating the balances on Friday.

I'm still a little puzzled with the entire event and I'm not completely sure the accounting is correct.

It would be nice if IB issued a statement at the time of the problem so people are not shaking their heads wondering what just happened.
 
Quote from benitez17:

I had several problems with "missing money" and other various statement issues during my relatively brief stay with IB. I have used a few other brokers and never had any of these issues anywhere else.
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I highly doubt you had a problem with "missing money". On the whole our statements and accounting have been exceptional. Unless a system wide issue with statements (which have always been resolved promptly accurately) most of those contesting statements have been from people who have not understood them. To make things more clear, we are launching new statements which can currently be viewed as beta statements via account management.

As for this particular case, from what I understand there was an issue between the sweep from commodities to securities accounts on Friday that has been resolved and should be correctly reflected in the weekend statements. Log onto your TWS, check the account positions/equity/cash and if you think there is still a problem, please start a trouble ticket.

late_apex, I don't want to turn this into a CS thread but I don't think that is generally the case. However, I won't deny that we have work to do to improve our CS and efforts and resources are being put into place to improve the service. If you have an unpleasant experience with an account rep, please avail yourself to the rating system via account management. Comments are reviewed by senior CS mgmt and are taken seriously.
 
i agree with def. i've been with ib many many years and i've never had a problem. there's been many attacks on ib over the years and many are from jeoulous competitors. to even assume ib would steal money is insane as they'd be out of business in a sec. no doubt ib's customer service needs huge improvement but i've found there system as stable as anyone's out there over the years
 
Quote from brandon12:

i agree with def. i've been with ib many many years and i've never had a problem. there's been many attacks on ib over the years and many are from jeoulous competitors. to even assume ib would steal money is insane as they'd be out of business in a sec. no doubt ib's customer service needs huge improvement but i've found there system as stable as anyone's out there over the years
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I agree with this. I've never seen IB off as much as $.01. I further think that CS gets a bad rap, unless you're one who thinks the entire North East needs to get a personality!:D

OldTrader
 
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