If IB's Website Contains Falsehoods, Customers are SOL

Quote from sprstpd:

I have been compensated by IB before due to an IB system error.
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My loss was also caused by "an IB system error", i.e., by their failure to bring to my attention that they had received a rejection notice from the floor about my order.

I hope that I likewise am compensated for IB's system error, and I shall post here what IB's resolution of my request is.
 
I do not trade pit contracts.

You mean to tell me you expect to wait 15 minutes for a fill report during normal trading??

If the answer is yes, I suggest you will have bigger problems than a missed trade at some point.
 
In 2000 I lost some money on
with IB as my broker

however I made 40 X the amount I lost
in the course of the yr using them

and did not let the incident affect
my trading.

by the way
if I had a backup broker this would not have happened so it could be said it was my fault


hope you are able to recover from this like I did
and did not lose that much in trading funds
 
Quote from stock777:

I do not trade pit contracts.

You mean to tell me you expect to wait 15 minutes for a fill report during normal trading??

If the answer is yes, I suggest you will have bigger problems than a missed trade at some point.
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Yes, in pit contracts this is not uncommon.
As to how long it would/ or should take in the IB pit system, there is no history of which I am aware to let us know.
 
Quote from himself:

My loss was also caused by "an IB system error", i.e., by their failure to bring to my attention that they had received a rejection notice from the floor about my order.

I hope that I likewise am compensated for IB's system error, and I shall post here what IB's resolution of my request is.
More...

From what you've posted you didn't incur any loss.

Life goes on and a real trader accepts occasional glitches. To go on and on about it for 2 days suggests to me you're probably not a full time trader as you'd not divert so much time & effort to this. When you sign on with any firm to trade you're bound by the agreements and all the fine print.
 
The interesting question is this. Is there so much free money laying around in the pit, that you'd subject yourself to longs delays in execution?

With so many instant fill contracts now, I must assume that the lure of free money is what drives this.
 
Quote from himself:
I'm out $480, and they are telling me to stuff it?
I don't think so!
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IB will probably lose more than $480 in commissions from you alone, and will definitely lose more than $480 in the wake of this thread.
Perhaps it's an accounting issue?? :confused:
 
Quote from stock777:

The interesting question is this. Is there so much free money laying around in the pit, that you'd subject yourself to longs delays in execution?

With so many instant fill contracts now, I must assume that the lure of free money is what drives this.
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It is usually explained that the delay is not in the execution
itself, but in the reporting back after the actual pit execution.
 
Quote from himself:

I hope that I likewise am compensated for IB's system error, and I shall post here what IB's resolution of my request is.
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My compensation came before they had a strict user agreement. I believe now I would not have been compensated for what happened. I am just saying that IB has been known to compensate for problems before. Whether your particular situation merits compensation is not clear to me.
 
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