IB as a business client

Hi there,

has anybody dealt with IB as a business client?

Like many people I am satisfied with the pricing and tradable markets yet unsatisfied with the service.
Thinking about founding a legal entity to trade my money like e.g. trading as a LLC.

I wonder if one receives any better treatment like knowledgable customer service for business clients and a lower waiting period when calling them?

Feedback is appreciated!

 

They used to have a program that gave priority in customer service to big accounts.

 

It's crazy. I would gladly pay an extra high fee in case of an emergency just to get somebody on the phone or chat.

 

It may still exist.

 

The customer service with IB is kind of a lottery. I was lucky a couple of times and got very helpful people. If you don't get a useful reply delete the ticket and start a new one, eventually you will hit someone that can help you. I had to resend tickets a couple of times until I got someone that was able to help.

 

My account is not big. Taxes on retail trading merely got so crazy in my backward country that trading as LLC is more efficient ...

 

What kind of emergency are you you talking about?

 

Any bad situation that requires immediate contact like e.g. unexpected liquidation due to an error. Fortunately I didn't have an emergency situation so far but I am working on an automated system and it would feel way better to know that I could reach somebody if I really needed.

A couple of times I needed to contact IB urgently to lift the price cap which they only do on a case by case bases. That lead to missed opportunities due to the queue (phone/chat). Obviously it makes me think what if it wasn't a trade opportunity but an emergency due to a technical issue...?

I would have guessed/hoped that as a business client you get a different number to call (although the amount of money I trade with will be same whether via retail account or via LLC account).

 

What if you could get a great support team and a dedicated sales rep and not pay more at another broker?
https://www.elitetrader.com/et/threads/freedom-from-platform-fees-summer-promotion.375040/

 

It still exists.

It does not matter whether you are a business or an individual. What matters is the income you generate for IB.