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

[BlueHorseshoe]

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 ?

You're French a**hole. They don't need another reason. Lying, freeloading socialists shouldn't be allowed to trade in free, capitalist markets anyway. You can still trade with Saddam. Oh wait, he's worm food. Never mind. Lucky you got 5 years.

(All in good fun ... sort of.)

 

[stoshski]

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 ?

I did not know the scumbag French were allowed to trade our markets. I hope Obama puts and end to this damn it!

 

[shortie]

Quote from stoshski:

I did not know the scumbag French were allowed to trade our markets. I hope Obama puts and end to this damn it!

i hope you are aware that 90% of french were in support of obama. think about that for 1 min.

 

[Hombre]

Quote from moarla:

thats not true. IB:
"One or more users manage a single account."



"Individual, Joint, Trust, IRA, Corporate, Partnership, Limited Liability Corporation and Unincorporated legal structures are available."


http://www.interactivebrokers.com/en/accounts/individuals/individualMain.php?ib_entity=llc#


There was another problem, maby we will never know what the real problem was???

So where is a " single " account included in legal strructures available ?
For two users beeing able to manage a single account , that account has to be join, corp, LLC etc NOT AN INDIVIDUAL account.
Individual account means one person account.
Single account means ONE account.

 

[kiwi_trader]

Quote from stoshski:

I did not know the scumbag French were allowed to trade our markets. I hope Obama puts and end to this damn it!

We all trade each others' markets.

The ratio of scumbags in the population is the same as in the dear old USA but, think on this, there are more people in the USA. The exception to this rule might be Nigeria although it does seem to only be true of the Christian South.

However, a broker can terminate their relationship with you for any or no reason; just as you can terminate your relationship with them.

 

[Mimimy]

Of course they can terminate relationship,
they can open and close account.

What law forbid is hurting customers.
And, when you engage in 5 year of trading with one broker, invest in API trading, have complex positions and then one day (no delay! no explanation!) they say, we terminate relationship, please liquidate and go away, yes this is hurting for no immediate reason!

 

[kiwi_trader]

You might want to read the contract.

 

[shortie]

Quote from Mimimy:

Of course they can terminate relationship,
they can open and close account.

What law forbid is hurting customers.
And, when you engage in 5 year of trading with one broker, invest in API trading, have complex positions and then one day (no delay! no explanation!) they say, we terminate relationship, please liquidate and go away, yes this is hurting for no immediate reason!

Mimimy, sorry to hear about your troubles. Did you recently fund your account in some unusual way? Did you trade from a different country? Did you just trade as usual they just closed your account?

basically, my quesiton is what did you do differently recently that may have caused IB's action.

 

[jeb9999]

Quote from Port1385:

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

Oh, really?

Tradestation closed down the accounts of all customers in Canada without telling them why.

 

[Mimimy]

I traded from another contry wich would be Morocco.

But is it suffisant reason to close everything without further question or any delay or nothing ?

Plus, it was not the first time.

Plus, it is just tradng, no funding or withdrawal of accounts, no bankings in anyway. No possibility of money laundering...

Did the guys at IB decided to say "let's say everything outside good america is suspect and everything in Africa must be terrorist so we close" without thinking ?