It's not only IB...but its the African gentleman that needs to be compensated from 7th... My earlier post was reasonable and "gentle", read it again 7th.. http://www.elitetrader.com/vb/showthread.php?s=&postid=748204#post748204
Suggestion to IB: Refuse to open his account and send him his money back with 14 days interest at current money market rates. This piddely 5k account will no doubt be a lot more trouble than it's worth.
Yes your earlier post was reasonable and gentle. However it did not solve anything. There is a quite simple problem. One of the industry leader accept new client's funds before the account approval. And now this new client is in terrible waiting period (now in 16 th day). Worst is, a mentioned new client still has no clear answer about his situation from the industry leader. The only answer "the Compliance Department is reviewing your account for approval. Once we complete our review of your account, you will receive notice that the account has been approved". Interesting is === Funds transferred from another respected U.S brokerage firm (this firm also required all the same documents as the IB --- but never let the client in such unclear situation).
7th What is unclear? they are working on it? Do you expect them to promise your client a date? This translation and/or verification and other processing could take 60 days, and could be dependant on 3rd parties out of IB's control. For example a governement agency could take several months to verify a signiture... By the way the person working on your application, must go to the bathroom now, would you like a report when he or she gets back? Michael B.
Your suggestion is more likely to an ethnic rejection by unconventional methods. I am quite sure IB is fair enough. I read the all IB reviews on this site and other big sites and never found such a rejection. The all reviews simply sign one thing : They are reliable and fair enough both platform and commissions.
by the way... compensation to a speculator is nil? The cost of funds at Africa's 10% is also questionable damages...assuming you are to pay the costs to prove it.. As far as your public threats to IB...could this be questionable?
WRONG! I am of Eastern European origin. I have NO ethnic bias. Be a man and work out your problems with IB, not on a message board!
Sure it could take even more than 90 days. There is no problem for IB (they already have the clients funds). Can you frankly say, a new clients of IB can wait such a longer periods before sending their funds ? ... They can simply look another firms in the market with their funds.