Quote from igor123:
On this forum there are many negative threads about IB. I've read things like: orders being filled after cancellation, constant problems logging in, arrogant customer service and so on.
I was considering them, but after reading what some traders have went thru changed my mind.
For example: http://www.elitetrader.com/vb/showthread.php?s=&threadid=67670 and espicialy this http://www.elitetrader.com/vb/showthread.php?s=&threadid=68101&highlight=IB+unethical
At least it's scary, and at most it's a potential disaster.
Well, the "Unethical conduct" thread looks like trader error because I've had an order go pink and stay pink and had to call IB during busy hours to get a status. The wait time for a rep was 2 mins which is very good. Order was cancelled out. And he called me back later in the day to ensure me that the order cancelled. Thought that was nice of him.
However, (and I'm glad you posted Larsen's thread) on Apr 20, 2006, I had a problem just like Larsen. And around the same time. See this thread and see how IB handled it.
http://www.elitetrader.com/vb/showthread.php?s=&threadid=68122
NO broker is perfect. Especially with today's ever evolving technology and markets. Hiccups can and do happen. They've happened at every firm I've been with. (Except Lombard back in '93. but they got bought out by Dean Witter and things went south thereafter.)