Question to IB

[trader79]

I am trying to trade Eurostoxx futures on Eurex exchange.
I tried placing orders today and my orders were rejected as I don't have Trading Permissions.
I did fill out 'Trading Permissions' section under Trading Services back on Oct. 25th, 02 at 4.30 a.m.

I contacted IB via online chat, I was informed that my request for 'Trading Permissions' on Eurex is still pending and I need to allow few days for them to process.
I posed several questions

When I ask them how to check if I am approved, ahead of time, their answer is

" try to place an order and see if it is rejected".

Again explain the person that I wake at 4 am in the morning to trade Stoxx futures, I can't place orders in a 'Trial and Error' mode" and I ask him if there is a way to know beforehand whether my order is going to be accepted, here is the answer I got:

" once the permissions are approved"

My question to IB is : Why can't you inform me atleast by a simple email notification, if and when my request has been approved?

 

[def]

The help desk can check your trading permissions as well from a database query. The database however does not say when a request will be approved. You can check the permissions you've requested via the accounts menu via the web si

Since the approvals often don't go into effect until the system reset each evening. In essence contacting the help desk to check for you (ie. doing the database query) should be more time consuming than you placing an order.

Since you made the request on Friday at 4 AM (if euro or US time) you may have missed the batch process that took place that day. Thus if you don't have permission today, most likely you'll have permission tomorrow (after midnight US time). If not, PM me and I'll make an enquiry.