Account application InterbankFX/Interactive Brokers - arbitration agreement

Discussion in 'Forex Brokers' started by Danny99, Mar 18, 2007.

  1. Danny99



    I will open an account with Interbankfx next week. There is a form called “arbitration agreement”, which is optional, i.e. I don’t have to sign it. It says:

    “I/We (“Customer”) agree that any claim, grievance or controversy arising out of or relating to Customer(s) Account, to transactions pursuant to the Customer Agreement or the breach thereof, shall be settled by arbitration in accordance with the rules of the National Futures Association, the American Arbitration Association, or the exchange upon which the transaction giving rise to the claim was executed.”

    So it doesn’t has to do with arbitrage techniques or taking advantage of temporal delays of the platform. There is also an “Arbitration agreement” in the Interactive Brokers application. My questions:

    -Have you signed this document?
    -Which pros and cons are there? I don’t see any advantage.
    -Can there be problem, if I don’t sign it, i.e. will IBFX reject my application? It would be nice, if you can write your opinion/experience briefly to this topic.