My Experience With Interactive Brokers

Went through some of the records for a start.

10th March 2008. Was short Wheat. Stop was 1136.00. Stop was in at time of Entry.

I was stopped out at 1145.00. 9 points extra $450.00.

5th June 2008. I wanted to short Silver (had entry entered at the beginning of the day). Entry was for 1660.5. Entry was triggered at 1652.00. Over $400 slippage.

19th May 2008. Was long Coffee. Stop was at 1.3600. Got filled at 1.3500. $375 slippage.

Just a note.. A friend who took the same trades on another broker did not have this slippage.
 
Quote from dimmi:

Hi Kiwi.. I bet you trade Currency futures predominantly, don't you? ;)

By the way, no need for such hostility my friend. Try and be civil.. you will get further in life and be happier.
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Not hostile. Actually very happy. Unlike you. Why? Because I understand how my markets work and how to trade them and you don't. Actually its several years since I last trade currency futures so I guess that makes you wrong in yet another way.

I just think that your post proves that you are another fool. More than that you are inexperienced. So you blame the broker because you don't know how the markets behave and what you are doing.

All the experienced futures trader (I have traded them all except palladium) just look at your thread and go "there's another newbie ... hope he trades my market."
 
I confirm - IB changed to worse.

I had bad experience with them very recently, but I'll spare details.
I think it's just because they grew too big. I think that's why their customer support sucks. They just don't care anymore.
Even a small problem can grow to a big one if noone there cares to help.

It is not emotional - it's business.
Other brokers offer better services.
I moved my money out and I am happy.

I do not recommend IB to anyone anymore.
 
Why the hell are you entering these thin markets on a stop? At least use a stop limit. Exit on an open stop if you have to, but don't ever enter a thin market that way. I bet you had your order right above/below major support or resistance, and the market gapped over your price. You'd need to post a time and sales for anyone here to give an honest assessment of whether IB really screwed up. If there were several trades at your price in stair step fashion, and you weren't filled for quite some time, then they most definitely screwed up. You can prove this via time and sales, and they will credit you for it. If you can't prove it, then they will assume it was your fault. If it was a pit traded contract, then it was likely out of their hands once they sent the order, and they probably won't credit you for that. Some slimeball in the pit may have just sat on the order. This is why I stopped trading via the pits a long time ago.

I'd recommend contacting customer support, and demand an audit of your trade log vs time and sales. They will do this BTW. It may take awhile though.


Quote from dimmi:

Went through some of the records for a start.

10th March 2008. Was short Wheat. Stop was 1136.00. Stop was in at time of Entry.

I was stopped out at 1145.00. 9 points extra $450.00.

5th June 2008. I wanted to short Silver (had entry entered at the beginning of the day). Entry was for 1660.5. Entry was triggered at 1652.00. Over $400 slippage.

19th May 2008. Was long Coffee. Stop was at 1.3600. Got filled at 1.3500. $375 slippage.

Just a note.. A friend who took the same trades on another broker did not have this slippage.
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Quote from Jayford:

Why the hell are you entering these thin markets on a stop? At least use a stop limit. Exit on an open stop if you have to, but don't ever enter a thin market that way.

I'd recommend contacting customer support, and demand an audit of your trade log vs time and sales. They will do this BTW. It may take awhile though.
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Wheat and Coffee were exiting a trade (stop loss). Silver was an entry.

Thanks for your advice I will ask if they can do the trade log vs time and sales.
 
If your friend had the same stop then it sounds like others might have too.

Who gets filled first depends on where you end up in a potentially very ugly queue. So when you get time and sales then remember that. You might want to add Lumber and Palladium to your list of favoured markets.
 
The title of this thread has been changed, without any explanation. It was originally an unfair smear denigrating IB. The title has been sanitized for some reason. Perhaps IB complained. Perhaps its customers complained. Perhaps the original poster decided his accusations would have more credibility if he self-censored them, or perhaps he was suddenly attacked and overcome by his own guilty conscience.

It is absolutely clear to me, from reading this thread, that this guy lacks the knowledge required to assess whether a broker correctly processed his order. Most, though not all of the accusations against IB on EliteTrader, in my experience, come from people who have no idea what they are doing or what their broker is doing.

Just sharing my experiences.
 
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