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Anyone Caught in Interactive Brokers Platform Crash on 1.5.18?
My understanding from IB is that transmitted stop orders rest at the market and not with them.
(I asked about stop orders re another concern with IB - however now they have taken to scrubbing old messages from your message box - beyond a certain age - I can't retrieve that for you. This is another I dislike very much about IB, but with IB its always our way or the highway - arrogant SOBs)
Send them a message asking what happens to your stop orders if IBs computers are down.
(As a side-not you can mention to them that a system status board is supposed to automatically refresh each minute - not days later.)
Interactive Brokers has really taken the cake this time... I just got a e-mail alert saying my account was down ~20k. Freak out because I shouldn't have any open positions - sign in and in fact see that a good chunk of my account is missing, even though I do not have any positions. Phone wait time is incredibly long, and this is all you see on their very difficult to find status page.
To all Traders:
There appears to be an issue with position display for some clients which we are working to resolve. We apologize for the inconvenience.
Guessing it's a transient issue (still haven't gotten through on the phone), but I'd rather my broker didn't misplace 20k and only have this ambiguous status message.
IB has enjoyed a good reputation as a broker on this forum, so experiences like these are troubling.
Naturally, there will be issues from time to time with anyone and anything. But I do occasionally see comments about their attitude....
Anyone else have particularly good or bad experiences, overall? There has to be a reason they are well thought-of. How do the pluses and minuses balance out?
I have been using IB for a few months now with my IRA account, and like them. The TWS platform is pretty easy to get used to, and i have not had any issues with them as a broker. I think pretty highly of them when compared to experiences i have had with other brokers. The commissions are also low which is great, but i agree that getting through on the phone often takes a while. The double security thing is also pretty annoying, but you get used to it.
I do consistently have issues with IB and Ninja trader though. But that is NT's problem in my opinion and my preference for NT is slowly dieing.
Realize we're at risk of hijacking this thread for stuff that should maybe be in broker reviews, so apologies...
IB have generally been pretty good for me, but I have such basic requirements - server side bracket orders with an EMA indicator. I trade on a mix of a Windows laptop, MacBook and follow markets on my phone if I am commuting for example. They seem to be the only folks that can do that (without resorting to CQG Mobile) and the price of the platform / commissions is right. Their performance metrics suck, but when you trade across 3 devices you really need a cloud solution anyway. I just signed up for Tradervue and with the futures.io Elite discount, it's looking like a good answer.
Boy am I glad I decided to be flat today (FOMC day)... Haven't been able to sign in to IB TWS for the past 20 minutes on either my mobile or desktop. System status is all green on their site. This has been a craptastic month - 20k disappearing from account one night, problems with bar data due to rollover and daylight savings times, and now system unavailability... I've been using them for around a year and it had been good, but might soon be time to start looking.
Just choose a backup broker. No need to stress like this. CQG and TT have mobile, desktop and downloadable products.
Matt Z
Optimus Futures
There is a substantial risk of loss in futures trading. Past performance is not indicative of future results.
Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email [email protected]
So sorry to be a party pooper and provide a practical solution LOL
Matt Z
Optimus Futures
There is a substantial risk of loss in futures trading. Past performance is not indicative of future results.
Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email [email protected]
