Links coming up shortly. No, the point you are missing is twofold. One paragraph 30 only refers to IB systems and software. The other is the strigency of IB's language as oppossed to just stating something ambiguous. Links: Lind waldock, which I used to have an account with. Go to their website lindwaldock.com. Navigate to open an account. Then navigate to self directed. Then nav to open an account. Then download their PDF forms. For Goldman: http://www2.goldmansachs.com/disclaimer/ It's the exact same wording on their account forms which are also available by PDF and refers to their online trading interfaces. And yes, this type of disclaimer is boilerplate for all brokerages who maintain an electronic trading interface for their clients. It used to be worded differently 15 years ago when you could only reach your broker by phone. But they indemnified themselves in similiar manner. Hey, have fun reading Etrade's legalese: Scroll down to section 7 https://us.etrade.com/e/t/estation/help?id=1209031000 Are you willing to go on record that the 1st paragraph bars them from "intentional acts?" They can shut off service and claim that they did so for system upgrades. How could you prove otherwise?
Guys, if we want IB to respond to questions here we have to avoid giving the threads over to those whose entire ET life seems devoted to amplifying (to the ridiculous) any thread that has a problem at IB.
ddunbar, actually i had left it earlier at the best possible way, i will try again because I am not intending to go into detailed discussion of credibility and difference between disclaimers excluding the liability for the content on the website, its not relevant. take care
A scenario is an initial order of 45,000 units with two profit-taking levels, after a partial fill of 25,000 units at the first profit-taking level the order now becoming 20,000 units. Later even the market price has once reached and passed the second profit-taking level but it cannot be filled due to below the requirement of minimum order size. Finally the price could reverse (Not uncommon in FX market!) back to a level of far below its initial entry price point, producing a losing position with 20,000 units. And the trader is still required to close the losing position by using IDeal conversion with extra commission. Please correct me for anything wrong in the above hypothetical case.
Hi all, I had the same problem today. Just starting with IDEALPRO. Tried to sell 25.000 eur at market. At first only 10.000 was filled. The other 15.000 was not filled at all. So I could not take full opportunity of the market at the moment I wanted. Later on when closing the position I had to use IDEAL paying more than necessary on commissions and spread. regards, Ivo
As I learned that 25,000 units (or USD Value?) is a minimum order size, your 10,000 units of partial fill should be a problematic issue, imo.