Quote from ZBEAR:
Sure IB has "Cheap" transaction costs - But are they really ?
If you have a $$$$$ "ACCIDENT" That could cover a hell of a lot of commissions
with an amenable Brokerage in my book.
And this is just "ONE" of the "MANY" Horror stories I've head about IB.
No Thanks IB - I left and I'm glad I did.
This is starting to sound like a Flame - guess it's the Coffee's fault. har har .
ok, it's flame time.
IB's so called cheap transactions costs are bullshit when it comes to the bottom line.
The bottom line is that this company screwed up so many times, I payed dearly.
I lost 40 grand in one day cause these goons couldn't call globex or someone to get me out of my position. My stops didn't work as they were held on IB's servers. Globex was not having a problem at all. IB was having a problem. They had (and probably still do have, despite promises) only one connection to globex, that goes down and yer screwed.
I didn't get an apology from these guys, instead they treated me like shit on the phone with the exception of the vp who was at best duplistic.
Heres a few more things.
One day they called me and said that I had duplicate fills on a buy yesterday, so i'm actually long the futures at a small but not insignificant loss. Duplicate fills, he couldn't explain. The market is tanking so I immediately sell to cover to make sure there is no more loss.
I get a phone call the next day, uh sir, actually there was no duplicate fills and you had no position on, so when you covered yesterday, you went long. this time it's a significant loss.
This went on for several days and I was unable to trade due to not knowing what my real position is.
Eventually IB owned up that they screwed up big time and they payed for some of the loss.
This happened several times, sometimes they owned up, and sometimes they didn't.
By then I was pissed and untrusting.
If anyone has a problem with me giving them shit, realize that they get what they give.
I'm sure there are a rare few nice, intelligent, and just people at IB. BUT I AINT EVER MET ONE on the phone or in chat.
edit:
these are just a few of the problems i experienced at IB. I experienced these same problems and more numerous times, but on a smaller scale.
personally, i'll take this grievance with me to the grave unless IB pays back the losses they caused.
i also will rant and rave and flame them with cause until I see my money.
Note, this is from a guy who gave them over 100,000.00 dollars in commissions so far.
whether I have legal recourse or not, this company is unjust.
i still can't beleive to this day that these assholes couldn't call globex to get me out of a position (and i here def talking about how they do big volume) or the least they could have done was offset the position in QQQ stock. but they don't give a rats ass about their customers, so they gave me the run around for about 5 hours until their link to globex came back up.
also, if i ever find out i have a case against them, that they actually had the power to get me of that position, i'll sue.
this company sickens me.
I also got zero response from this company about my grievances, and I worded them very nicely at the time.
. that they even TRY to pull this crap is proof that no one is watching and that they regard their clients as sheep - consider me fleeced! 
(at least for the time being).