IB: "...terminate our relationship with you..."

[ML_QUANT]

It seems maybe someone who could not have opened an account directly does so through a 3rd party in US.
Then since the person from overseas does all the tradings, IB picks it up....simply that although legit but IB is avoiding any potential problems.

 

[Port1385]

This is more examples of IBKRs problems. I know that other brokers such as Tradestation wouldnt do this to you.

 

[NY_HOOD]

for some reason the OP is not telling us what country the alernate login was located in? what country was it? whats the big secret?

 

[IV_Trader]

Quote from NY_HOOD:

for some reason the OP is not telling us what country the alernate login was located in? what country was it? whats the big secret?

Nigeria

 

[Mimimy]

Hello,
I have exactly the same problem,
IB terminate and IB don't give ANY explanation!
Crazy.
We are going to fill an official complaint against them, no choice.
What do you think ?

 

[shortie]

Quote from d08:

Having a similar issue, added another user (family member) in the same country (in EU), now in liquidation only mode for over 2 weeks. Calling every other day and they keep promising to fix the issue (promise to call back as well while never doing it).
This seems to be a way to get rid of successful short sellers, next thing will be keeping only the losing traders to prop up the MM business and achieve even higher profit margins. It's the only possible reasoning I can see right now.

Why I don't just leave IB?
I programmed my systems using the IB API in good faith, thought it was a safe bet. Obviously I was wrong.
The guys who praise IB for actions like this will find themselves in a similar situation at some point, then it won't be so awesome.

looks like the problem is not the shady country, it is the secondary user.

 

[bali_survivor]

Quote from Mimimy:

Hello,
I have exactly the same problem,
IB terminate and IB don't give ANY explanation!
Crazy.
We are going to fill an official complaint against them, no choice.
What do you think ?

Just nonsense and wasting your time. (and money)

You do not have the constitutional right to be a customer. If someone does not want to have you as a customer there is nothing you can do about it.

 

[flytiger]

Don is right.

The stuff is going to hit the fan. they are backing away, as are all of them.

 

[Mimimy]

I am French, I have been a customer with them for 5 years.
No problem whatsoever, no question from them.
Opening accounts and they say ok, all is right.
And then one day,
they say, we close, we have no explanation, you can t do anything, please liquidate and go away.

I have no right to anything ? You sure ?

 

[shortie]

Quote from Mimimy:

I am French, I have been a customer with them for 5 years.
No problem whatsoever, no question from them.
Opening accounts and they say ok, all is right.
And then one day,
they say, we close, we have no explanation, you can t do anything, please liquidate and go away.

I have no right to anything ? You sure ?

was there a secondary user in your case?