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Interactive Broker negative account balance EUR/CHF customer group...
- Thread starter EURCHF
- Start date
They advertise they have an automated system in place to prevent margin calls. But in this situation it didn't or couldn't work. It seems unfair to lay the cost onto the clients for this very unusual event that resulted in traders and them seemingly not being able to get out of the trade. Perhaps they should concentrate on the 100 million, ten large futures traders oversees and leave the "little guys" from having to consider bankruptcy under these circumstances as many other brokers have decided to "forgive" negative balances. If they don't want to make a policy that sets a precedent just don't pursue the 25 million of losses in the US. IMO.
I still haven't received any info from IB, after sending in my formal complaint over a month ago.
What should be the objective of a formal complaint? Does it somehow alter IB's course of action?Have your lawyer write
David M. Battan
Executive Vice President
Legal/Compliance
Interactive Brokers Group
1725 I Street, N.W.
Suite 300
Washington D.C. 20006
None at all at this point. It's just an auto liquidation issue for me.
Do you want money back or erase or reduce a negative balance? If you feel you aren't being treated fairly and your broker isn't responding then you can go forward with an arbitration which in my case would have cost me 25k to 100k, or complain to Commodities Futures Trading Commission on there web site.None at all at this point. It's just an auto liquidation issue for me.
Ok thanks mikeman. I'll pursue those avenues.