I even had a quite positive experience with Interactive Brokers. There was a major failure of one of the transatlantic backbones, so I could no more access US internet servers via my habitual service provider. My backup mobile service provider had similar problems. The interesting point here: For European customers Interactive Brokers offers an access via Swiss servers (many European customers trade futures via EUREX, so a login to US server and than back to EUREX would not make sense). The Swiss servers are directly linked to their US operations. The result: During that internet failure, Interactive Brokers data and order execution worked as usual, as their lines were not affected. Took me then 30 min to call up my províder and change the routing to alternative backbones to be able to access US servers (not brokerage) again.
Although the servers of IB are extremely reliable (most failures I experienced were due to failure of the exchange trading systems), I doubt they are able to handle customer requests in the case of a major incidence. The service level they offer (phone and chat) is quite low. Summary: Excellent technology, but service should be improved.
thanks for your reply. Yes, this was the issue. Couldnīt do anything! Your idea with second broker is right, and I know about as I did already to check out as a strategy maybe (same as straddle and strangle with options - but only commissions then).
However, as I know exactly what you mean I can answer you from my position: you are right 100% ...if...IF you would know if your initial position is still running. The problem is that you donīt know - because of data and connection issue - so maybe you think you are long and you open the opposite position for ES maybe with TF. But it could be that the ES is already flattened. Then your position you made to hedge the other one itself is the problem. We can now of course think about this one with stoploss or not, or what distance of stoploss. But the actual problem still persists - you donīt know if you are flat or not.
Referring to the OCO for me itīs clear that I do not anymore brackets. To avoid what happend 8/16.
And referring the liability issue I do transfer all my assets to my wife. Do you know if in US maybe the marriage partner is liable for the dues of the other one??
"Freedom is just another word for nothing have to lose";-)
Last edited by tony2604; August 21st, 2010 at 08:47 AM.
Reason: typing error