OptionsXpress f*cking me for over 50K

Excuse my ignorance, but I assume a "direct access broker" has a platform that you enter orders on, which are reflected in some sort of message window...and that the same message window will give you confirmations of orders and cancels.? You mention email confirmations, I don't understand how that can possibly be a direct access broker? Even my Schwab account has a real time platform?


Don :confused:
 
Hi don, I use their web page for trading. I don't know if they have another platform. The web page does not have a message window. Just an order status page, and it does not give an audit trail or any other history of the order.
 
Quote from 1011101:

Hi don, I use their web page for trading. I don't know if they have another platform. The web page does not have a message window. Just an order status page, and it does not give an audit trail or any other history of the order.
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That's pretty scary...reminds of the (real) old days of calling in orders, at least we would get the confirm while still on the phone. I'm sure you can find at least a platform at a zillion other brokers. Even the name is an oxymoron (not trying to be funny, really sorry to see something like this).

Good luck with everything.

Don
 
I needed a web platform so I could access through my work's firewall. I was previously on xpresstrade which was fine. Then they merged into optionsxpress last month and it's been a disaster ever since.

Oh man, I would much rather call in all my trades than deal with that shitty web platform, but I don't want to bother everyone sitting around me at work.
 
I would call IB and make them pay! They can't take your money like that! F*ckn IB are a bunch of crooks... :mad:


Just screwin' with you. So many of these threads are about how IB "stole my money...", I almost expect them ALL to be.

Sorry to clog your thread. Good luck with your problem. :cool:
 
Im not sure what the other guy is referring to, yeh the website gives instant order positions, filled, open , cancel all the usual junk etc, the fills are ok even market orders etc - i find em ok


Quote from Don Bright:

Excuse my ignorance, but I assume a "direct access broker" has a platform that you enter orders on, which are reflected in some sort of message window...and that the same message window will give you confirmations of orders and cancels.? You mention email confirmations, I don't understand how that can possibly be a direct access broker? Even my Schwab account has a real time platform?


Don :confused:
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Quote from 1011101:



This is probably going to end up in arb. I will keep you all updated.

I do have a printout of the order status page showing the order as cancelled. And the trade does not show up on my end of day statement from yesterday, so I should have a good case.

su
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Thats all you need right there. The arbitration panel is going to piss on the broker.
 
Found this in their customer agreement:

18. Late and Corrected Reports
From time to time we receive late reports from exchanges and market makers reporting the status of transactions. Accordingly, you may be subject to late reports related to orders that were previously unreported to you or reported to you as being expired, cancelled or executed. In addition, any reporting or posting errors, including errors in execution prices, will be corrected to reflect what actually occurred in the marketplace or exchange.
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Does this mean I have no case in arbitration?
 
Quote from 1011101:

Found this in their customer agreement:



Does this mean I have no case in arbitration?
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No. That is a CYA clause..you got your "out" in the confirm. If they got a late report they still need to let you know you were filled(in a timely fashion). Phone call , email, smoke fucking signals...something.

DK the shit out of it and for goodness sakes get an attorney asap.
 
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