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Missing money at IB
- Thread starter shneed
- Start date
Quote from ktm:
I hope you jackasses are happy with the potential results of your "strategy". It was only a matter of time before a few blew it for the masses.
lol. a corporation doesn't like to bother with complaints and threatens to retaliate by providing even less customer support - and the response is to take it out on the guy that identified the problem?
this assumes the facts are accurate as originally posted - and if they are not, as AAA rightly said it should be viewed as an opportunity to clear the record and even enhance reputation.
Funny comment by the IB folks. I can't imagine what could be more important or warrant more attention from a broker than customer service and addressing customer issues/complaints etc.
IB's acknowledgement that they ignore customers who complain publicly seems counter-intuitive. In many business, the squeaky wheel gets the grease, or oil, or maybe even rebates!
I sure hope the original poster says how this was cleared up.
IB's acknowledgement that they ignore customers who complain publicly seems counter-intuitive. In many business, the squeaky wheel gets the grease, or oil, or maybe even rebates!
I sure hope the original poster says how this was cleared up.
Quote from AAAintheBeltway:
With respect, I think you are missing the bigger picture. Let's look at this thread. You don't like the fact that he posted a problem. I can understand that, but it also gives you the opportunity to reassure thousands of clients and potential clients when you are able to demonstrate a speedy solution.
More generally, if I were running a business, any business, and I had the opportunity to monitor my customers' comments, problems and suggestiosn, as this forum gives you, I would consider it invaluable. Of course, that doesn't address the issue of you and def doing it on your own time.
Frankly, I am amazed that other brokers who cater to traders are not a presence here. Even some who advertise, like Cyber, don't seem to bother to have anyone actually watching the boards. Somehow though, a guy like Jerry Medved, who runs pretty much a one man shop, is on here all night and will fix a problem in real time.
I am a big fan of IB, but let me make a point here. When I first started with them in 1998, they had almost no help desk, problems with their trading platform and other assorted issues that were a royal pain. Of course, they also were the first to offer good commissions on emini products at a time that most other brokers were trying to rape their clients with the same commission schedule as the pit traded index products.
Over the years, they have improved their attitude, but every so often I see this arrogance re-emerge. In general, there is just an insular type of attitude towards assisting clients. Def, in general, has been outstanding, but I think this latest episode is pretty despicable. As you say, AAA, this should provide an opportunity for IB to re-affirm its security safeguards, not to go on the defensive and say "hey we are bolting". If thats IB's attitude then so be it. If its not IB's attitude, then they sure as heck ought to do a better job of monitoring how and what their employees say on public forums. No flippant comments should be allowed in matters this serious.
Madison, tomcole:
Your most recent posts highlight one of the points I tried to make. Namely, that our presence here is taken by some as means to provide a customer support. That is not what we are here to do.
Just think about it; I don't know who you are, what your account number is, or whether you even have an account. (You may be a competitor or a school kid having fun on the internet, for all I know - no offense intended). I don't know your recent activity, what TWS/API etc version you use, I have no access to your logs. I don't even know your real name! Some posters don't reveal their identity even when asked to do so through a PM.
This is a free public forum. Anyone can join and post virtually anything they please. If your expectation is that your post/question/comment will be quickly followed by a timely and "customer support" kind of response, you will unfortunately be disappointed.
I am dropping this subject, before this threads gets moved to Chit-chat. I hope we will soon get an update about the original problem.
Your most recent posts highlight one of the points I tried to make. Namely, that our presence here is taken by some as means to provide a customer support. That is not what we are here to do.
Just think about it; I don't know who you are, what your account number is, or whether you even have an account. (You may be a competitor or a school kid having fun on the internet, for all I know - no offense intended). I don't know your recent activity, what TWS/API etc version you use, I have no access to your logs. I don't even know your real name! Some posters don't reveal their identity even when asked to do so through a PM.
This is a free public forum. Anyone can join and post virtually anything they please. If your expectation is that your post/question/comment will be quickly followed by a timely and "customer support" kind of response, you will unfortunately be disappointed.
I am dropping this subject, before this threads gets moved to Chit-chat. I hope we will soon get an update about the original problem.
Quote from Madison:
lol. a corporation doesn't like to bother with complaints and threatens to retaliate by providing even less customer support - and the response is to take it out on the guy that identified the problem?
this assumes the facts are accurate as originally posted - and if they are not, as AAA rightly said it should be viewed as an opportunity to clear the record and even enhance reputation.
That's missing both points.
First, IB has no obligation to be here. Posting here is NOT customer support, it is often appeasing someone who is upset in the middle of the night because of a perceived problem. Sure, these guys go out of their way to solve many problems and we are all the better for it but this is far from their real jobs and responsibility at IB.
Second, the issue is not his alleged missing funds. It is that he creates the thread, posts the headline and makes the allegation that something is awry with IB. If he posts on the 27th page of this thread a single sentence that says it was a misunderstanding/technical error and the money is present, how many of the thousands who viewed the headline are going to drill down and read that? IB is here defending their corporate reputation, when in reality it should not have been called into question.
Of course, this forum is NO place for any real customer service. IB I'm sure, has lots of phones, emails etc etc for this.
My point was that I was surprised you would say a squeaky wheel gets ignored and you have other stuff to do besides listen to whiners. I have no idea who this guy is, I hope his money shows up and I am still hopeful someone posts what happened.
Personally, I dont trade at IB, but like your platform. Threads like this only confuse people like me when the entire matter isnt put out in the open. I would think any financial institution would guard their reputation for integirty zealously and use platforms like ET to show how committed to their customers they are.
My point was that I was surprised you would say a squeaky wheel gets ignored and you have other stuff to do besides listen to whiners. I have no idea who this guy is, I hope his money shows up and I am still hopeful someone posts what happened.
Personally, I dont trade at IB, but like your platform. Threads like this only confuse people like me when the entire matter isnt put out in the open. I would think any financial institution would guard their reputation for integirty zealously and use platforms like ET to show how committed to their customers they are.
The "entire matter" needs to be a real matter though, not a misperception. If money was disappearing from any number of accounts in that way, some of the thousands of us who use IB would be carpet bombing ET with threads. It's fine to have a public discussion, but let's make sure we have a real issue to discuss.
No ones opinion is matters here. As IB-Soft rightfully stated "they ARE running the business". Until one day when , IB competition will figure out how to take some clients away from them, just like IB figured it out eight years ago. I remember the day I left Ameritrade , it was after a call to customer service(nasty answers , arrogance). I left them 10 days later and "letters from President" or "first 20 trades free" that they send me later for many months , did not helped to bring me back.
Today , when gap between the "cheap" and "expensive" broker drastically shrank , the customer service becomes more and more important when one makes decision with who to trade. I was willing to take all this nasty staff when the difference in commission was 9$( a dollar instead of 10),but will not take this if the gap becomes 20 cents. Even more : I expect someone(maybe even IB) in the industry to come up with firm monthly amount for active traders , kind off "All you can trade" arrangement. Put a 60k person to handle 20-30 clients with firm 5k a month commissions and this will be his only job. Not a bad biz at all. Just a right biz decision , rest is all technicality , just a matter of time. Then you will see some changes , but until then I hope I'm not gonna have a need to call the customer service , I had my share of abuse already.
IMO , IB-Soft and DEF are very nice and helpful , I just wish similar people would off run the customer help desk. But they are not.
Today , when gap between the "cheap" and "expensive" broker drastically shrank , the customer service becomes more and more important when one makes decision with who to trade. I was willing to take all this nasty staff when the difference in commission was 9$( a dollar instead of 10),but will not take this if the gap becomes 20 cents. Even more : I expect someone(maybe even IB) in the industry to come up with firm monthly amount for active traders , kind off "All you can trade" arrangement. Put a 60k person to handle 20-30 clients with firm 5k a month commissions and this will be his only job. Not a bad biz at all. Just a right biz decision , rest is all technicality , just a matter of time. Then you will see some changes , but until then I hope I'm not gonna have a need to call the customer service , I had my share of abuse already.
IMO , IB-Soft and DEF are very nice and helpful , I just wish similar people would off run the customer help desk. But they are not.