Interactive brokers outage

[d08]

so brokers only entitle to charge us for commissions and have no responsibility whatsoever? fantastic

They do have responsibility but not in this case. If you submit an order that should execute but does not due to IB's technical problems, you're entitled to compensation.
Data issues are different. You could've still closed your positions without the data.

 

[redharel]

They do have responsibility but not in this case. If you submit an order that should execute but does not due to IB's technical problems, you're entitled to compensation.
Data issues are different. You could've still closed your positions without the data.

How can i close the position if my system was down? pressing anywhere on TWS and nothing was active. please enlighten me

 

[d08]

How can i close the position if my system was down? pressing anywhere on TWS and nothing was active. please enlighten me

I had market data issues but order placement worked fine. Are there other people who couldn't place orders? Also, as suggested WebTrader did work and you should've used it. If that didn't work, there's always the option of chat support or calling them to close positions. It sounds like your positions weren't significant enough for you to get busy.

 

[redharel]

I had market data issues but order placement worked fine. Are there other people who couldn't place orders? Also, as suggested WebTrader did work and you should've used it. If that didn't work, there's always the option of chat support or calling them to close positions. It sounds like your positions weren't significant enough for you to get busy.

let me clarify.
TWS - dead
WebTrader- dead
account management - dead

i should have tried telepathy?

 

[d08]

let me clarify.
TWS - dead
WebTrader- dead
account management - dead

i should have tried telepathy?

Telephone, not telepathy.

 

[redharel]

Telephone, not telepathy.

Good luck with that, there phone lines were crashing

 

[Rickshaw Man]

I had market data issues but order placement worked fine. Are there other people who couldn't place orders? Also, as suggested WebTrader did work and you should've used it. If that didn't work, there's always the option of chat support or calling them to close positions. It sounds like your positions weren't significant enough for you to get busy.

Web trader did not work for me, could not get past the login screen. The mobile app would not launch either.

 

[heywally]

That was a very bad/long and surprising outage, one that for me, required some sort of email or notification from IB explaining what was going on. Accordingly, I'll be pulling some funds from there as I'm paranoid about IB a bit and I tend to overtrade over there anyway.

 

[henry76]

Personally I'm not comfortable placing orders when some of data is down , orders etc can go missing/ get caught up in the mess that's going on , sure mainly no problem but the risk is there if you don't know/fully understand the problem , which I didn't, at the very least I imagined myself caught up in some bureaucratic nightmare where my funds were unable to trade for sometime.

 

[Visaria]

let me clarify.
TWS - dead
WebTrader- dead
account management - dead

i should have tried telepathy?

No, but you could have tried carrier pigeon...worked for Rothschild during Battle of Waterloo 1815. He made a fortune.