So you are on hold and the operator says "Your call is important to us, please hold the line and we'll be right with you" ... then it rings... and rings............................. and rings.................................................. and then you say $#%#@ @#%# @%#% and hang up sound familiar?
I constantly hear statement that IB is not a place for people need hand holding. can anyone clarify what is considered hand holding? thanks.
Find a full service broker and ask you about the things they will do for you. That's hand holding. IB was one of the original discount brokers (Brown was another who were even stronger on not hand holding). Their business model is low cost, high automation, high speed, broad access --- and minimal customer service suited to experienced users. If you are in the house/building land business these are the guys who know the business and don't want you greasing or sweet talking them. Just the facts Ma'm.
I've been an IB client for a while, but lately its no end of hassles. The last thing they did was stuff up a cash settlement on a futures close out, they admitted to the mistake(only after I pointed it out though) (weird how the mistakes are always in their favour no?. Then the next thing I know they change my statement retrospectively. MY advice print your statement out daily! That made my skin crawl. DAV on ET insists they don't do it. But yet they did it. I am becoming a bit scared. Are these guys in trouble or about to put me in big trouble. I've sent customer service a request for an explanation, but that can take a while.
About the 'cheap service for cheap customers' : Maybe I am a cheap customer not to want to give my main broker the value of a new fancy sports car each year in terms of commissions. Well, ask yourself, if you are able to enter manually an order in IB's TWS and will you assume the responsibility for your trading mistakes (like buying too high) Yes? No? Is IB stealing your money? (I had one who tried, but IB is ok for the moment) Very cheap Dave
I generally don't have a problem with IB. But if they do not give me a reasonable explanation for changing my statement after it has been published. And for stuffing up the settlement. Then they me be too cheap for me. I have had bad service from a broker before, believe me it always ends up costing you money.