Ib Sucks

Quote from RSprengers:

Has anyone experienced this problem with a WINNING trade ?

Just curious:D
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I have had several of these in past years. Some were winners and some were loosers. I think they averaged approximately net flat. If one such trade is net plus or minus $500, I would not put up a fuss; But, $40,000 on one trade like one trader posted here, now that would get my attention.

Catoosa
 
I am looking to take this into a class action suit. My attorney looked over the board and viewed all the complaints. He is currently looking into the possibility of being able to follow through, as arbitration agreements were initially signed with the basic contract. I will know next week, but if this is the case, then he will only work based upon the outcome. Just an FYI, but I will keep the board posted.

I am sure that if he goes forward and during the discovery process he will find more than a handful of clients who have ran into this issue.....

Now all IB had to do was be honest and look at the actual issue I ran into and this can of worms would never have been opened.
 
Quote from kowboy:

When all else fails, attack the customer
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Figured someone would attack my response. Part of the reason I did not reply earlier until I made an effort to find out what happened. I would not have made my comments unless I spoke to the people who would have handled the calls. A serious effort is being made to discredit the firm I work for. If the facts I've posted are proven wrong, I'd be the first to admit it.
 
Quote from CarlErikson:



Yes, a few years back I got some delayed fills (by 2 days) - as I recall, I broke even on those positions. There must have been some winners in there to offset the losers.
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delayed fills by 2 DAYS!:eek:
 
I can't speak for mdmbud's personal situation, but since I started trading futures with IB last september I've crossed about 16,000 contracts on globex and not once have I had a problem with bad trades.

Late reports from globex itself are unheard of.
 
Quote from mdmbud:

I am looking to take this into a class action suit. My attorney looked over the board and viewed all the complaints. He is currently looking into the possibility of being able to follow through, as arbitration agreements were initially signed with the basic contract. I will know next week, but if this is the case, then he will only work based upon the outcome. Just an FYI, but I will keep the board posted.
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Why don't you be a little more patient and try to resolve your problems with IB internally first? Even though dealing with IB customer support can sometimes be trying, in the end they have always been reasonable to me. This is assuming that you can support your claims with convincing evidence. If you can't, then maybe you did leave in a stop unattended and got filled without knowing it?

A class action suit is taking this a litte far, no?
 
Quote from QQQBALL:



delayed fills by 2 DAYS!:eek:
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This was several years ago. I would put in a stock order and then later try to cancel it. I would get a PendingCancel status (the magenta color) for the order. After a few minutes of this PendingCancel status I would call into IB to ask them the true status of the order. They would invariably tell me that the order had been routed to ARCA and that they did not know the status. I asked them if they could somehow figure out the status (i.e., by calling ARCA), but they said that this wasn't possible. Since the order was a DAY order, the next day it was cleared from my TWS, even though its status was still unknown. For these types of orders, I wouldn't know my true position for a couple of days. If IB didn't contact me after 2 days, then I didn't have a position. If they did contact me, then I did have a position.

A few months after these occurrences (after I had complained a lot to several people at IB), IB started to call into ARCA to figure out the true status of orders when this happened. So this hasn't been a problem in years.
 
Quote from CarlErikson:



Why don't you be a little more patient and try to resolve your problems with IB internally first? Even though dealing with IB customer support can sometimes be trying, in the end they have always been reasonable to me. This is assuming that you can support your claims with convincing evidence. If you can't, then maybe you did leave in a stop unattended and got filled without knowing it?

A class action suit is taking this a litte far, no?
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qdz would love this thread. No matter who's right and who's wrong, I find it interesting that nearly all the responses assume that mdm is right and IB is wrong. Is there not even the slightest possibility that the reverse might be the case?

--Db
 
I must say,

Def has always been honest as far as I know and has always been the first to solve problems customers have. He 's helped me out before and I believe Def if he writes he's spoken to the right persons and he checked the log file.

So, if you're out here to try to put negative comments on IB in this way (Telling they mess with trades is very different than complaining about customer service IMHO) I think you're doing something very wrong.

Again, if what you say it's true, I would like Def / IB to solve this matter in a way that satisfies both IB and customer but if not....:mad:

(I'm not an IB customer anymore, but nothing negative on DEF)
 
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