MOC orders being dropped today at IBKR
- Thread starter R1234
- Start date
Same. I was on hold for over 2 hours trying to get some answers about this, but it seems to have been fixed now (at least as of 14:44 EST). I was going to stay on the line to ask what the issue was but I gave up.
So instead of MOC orders to close my positions I did Market orders with execution time set to 4pm EST. It never executed.
TWS says 'order is being held and monitored'. And now I am on endless hold on the phone waiting to figure out what's going on. This is a bit of an annoyance as I did not want to hold these positions over the weekend. Not one bit sorry I moved most of my $ to Fidelity and Schwab.
TWS says 'order is being held and monitored'. And now I am on endless hold on the phone waiting to figure out what's going on. This is a bit of an annoyance as I did not want to hold these positions over the weekend. Not one bit sorry I moved most of my $ to Fidelity and Schwab.
My MOC's have always worked at IB. This is a first.
Hate to keep comparing to other brokers but IB customer service is horrific. They charge commissions and have the nerve to keep customers on hold for hours after their software glitches. Fidelity/Schwab are zero commission and a human is there to help within minutes and they also have the call back feature if you don't wish to wait. Waiting at IBKR meanwhile, you're forced for hours to listen to that maddening background classical music interjected with static noise.
its cb...not ib. check nyse reg file. its size is 20x compared with usual days
On top of all that, IB's system status page was all green for the entire approximately 3 hours this issue was ongoing.
I agree that IB support lately is really bad. One of my last interactions were about an API call which wasn't documented, CS replied basically with "I don't know, what's there is there". That was it.
I had the same issue as I wanted to close a trade on NYSE with MOC order on Friday and it has not filled. I checked the audit trail which proofs I entered the order and send the info to IB. Are they not legally responsible to execute such orders? Is there an alternative to IB? Same low commissions which has MOC orders?
Legally responsible -- I don't think so. If they had not fixed the issue you might have a case. As it happened, you had plenty of time to re-submit the order before the close.
Alternatives to IB -- yes, but the question should be, is there an alternative with a better uptime track record? IB's track record is excellent, as one poster said above "My MOC's have always worked at IB. This is a first." and I agree. I've been trading MOCs daily since 2014.
I would not leave IB because of this issue. If you are going to leave IB for another broker, there are better reasons to do so. Better margins, fees, support, latency, features, etc.