Hello,
Due to enormous time required to maintain IB plugin because of very frequent changes often breaking backward compatiblity the IB plugin starting from next version will be offered as a subscription service to cover development and maintenance cost.
Best regards,
Tomasz Janeczko
amibroker.com
Hi all,
Personally I don't have any direct experience with Interactive Brokers and I haven't actually seen how the platform works. A couple of my friends opened an account with IB but didn't have a good experience. Since we have an IB representative on this forum, I thought he may be able to explain how things actually work with IB.
One of my friends is a long term commodity trader. He opened an account with IB via Lifestyle Investor Services last year in May. He only placed 3 trades, AUD/USD, Wheat and Corn in the first week of opening the account. Somehow, a few days after his initial 3 trades, he noticed that someone else was using his account to trade other currency pairs. As soon as he found out, he tried to cancel those trades that weren't placed by himself but to no avail. (The IB system wouldn't accept the cancellation)
He then contacted the "broker" Lifestyle Investor Services (his name is Scott Goold) and explained to Scott that he didn't place those trades. He asked Scott to cancel those trades for him but Scott advised him to ignore them. My friend then requested Scott from Lifestyle Investor Services to cancel his account. Scott advised him that he was not able to cancel his account and that my friend would have to ring IB's Sydney number. So my friend rang IB's Sydney number and he was transferred to Hong Kong and the HK customer service rep's supervisor somehow canceled the account for him. But he couldn't take all the money out!!! He had to take the money out in smaller chunks.
Up until today, IB still couldn't resolve the issue for my friend.
Another friend of mine opened an account with IB and she said she just simply couldn't understand how the platform works. She said she was trading options and for some reason for the trades in profit she couldn't see them on the screen. And when closing a position, it doesn't appear on the screen either. As a result, she thought the instruction didn't go through so she tried to "close" the trade again and ended up losing money.
investa
1. Brokers that private label the software, have a dealing terminal where they can place trades on behalf of the client. Depending on the way it is set-up, some brokers also control the distribution of login details.
2. While I dont' know the specifics of the above case, it sounds to me like the currency trades were liquidation trades, i.e. the account went below the maintenance margin and thus, IB reduced the margin exposure by liquidating the currency positions. This would explain why he was unable to cancel them.
3. We issue security tokens to all account holders. If you opt out of the security token then you are restricted to a limited amount of money that you can withdraw at one time. This is a security precaution.
4. I can see no pending case for this customer. You are welcome to send me details by PM and I will look into it.
5. As for understanding the platform. Your friend simply didn't open the account window, audit trail, trade/exeuction window, order pending tab, read the user guide, or call customer service! At the risk of being flamed, and trying not to sound harsh, but this information is very basic and very easy to find - please try the demo on our website, - after logging in I would be surprised if you couldn't find the information within 30 seconds (or even 10!)
Executions are instant and appear in a number of places on the TWS.
We do offer a simpler platform, and I suggest he/she tries Webtrader, this is a far simpler platform which is more similar to the usual online broker platforms.
will look into it. Did anyone report this to our CS desk (pls let me know if you have case/ticket numbers) as I hadn't heard complaints and these issues would usually be escalated to me.
Whats wrong with businesses today?
Want to start an account with IB
Emailed them for application form - no reply
Phoned them - on hold for 15 minutes gave up and emailed them again - still no reply.
Apparently they don't want my custom.
SteveIB, in relation to the shortable stock issue:
Optimistically, if there are indeed shorts available via IB for the asx but the only thing missing is the published list, would it be possible for you to attach a copy of the 150 stocks or so which you mentioned are available for shorting please?
If you attach a list to this thread then IB clients and potential clients can dl a copy for reference. Then we can at least work off that list (eventhough it varies daily) rather than trying to guess from amongst hundreds- it's easier to check the list first than to go through the whole process of planning and charting a short to find it's to no avail when it comes to placing the trade as the stock isn't shortable.
Thanks in advance.
G'day TH
Are you saying I can't apply on a paper application form?
Cheers
dutchie
G'day TH
Are you saying I can't apply on a paper application form?
Cheers
dutchie
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?