IB Back Office

Discussion in 'Retail Brokers' started by Trader200K, Aug 23, 2006.

  1. I have used IB for several years, like the trades I get and am generally satisfied with the brokerage. However the error this morning showing up the sum of all the forex transactions I made this year as a currently active position in my portfolio really took me aback. I usually stay away from the IB Cheerleaders / Detractors discussion, but some constructive discussion is needed to help IB Management focus in on the issues...or hire someone new that will focus on the issues.

    The forex 'PNL' insertion as a current portfolio entry was a completely juvenile level snafu and calls into question the quality control of back office accounting management. Are there no reviews and testing before rollouts?

    I would applaud the effort to display current cash positions someday on the main TWS page. (Even my wife's Scottrade account does that.) Having multiple "Total" lines that don't reference what currency it refers to could be helped by just saying TotalCAD, TotalUSD, etc.

    I think it would help IB Accounting/IT to get a real trader to double check rollouts in the future so as not to cause their customers to have a heart attack when opening their morning screens.

    We need to get back to the basics...

    T200
     
  2. KS96

    KS96

    You are right. It's a joke!
    I have settled all those trades long ago. They don't exist to me.
     
  3. Bob111

    Bob111

    http://www.interactivebrokers.com/en/software/releaseNotes/Notes_Index.php?ib_entity=llc

    Look at this. There is new builds every month + multiple fixes. many of those changes never documented. Your TWS/API may behave differently from day to day,even if you didn't do any upgrades\changes on your side.
    as TWS became more and more complex -number of glitches grow accordingly. imo-there is will be end of it, when IB developers\QA screw something up big time. And big boys will be hurt and they will sue IB for good chunk of money. And when they win-that's where IB will stop release updates\upgrades every week and start working on quality control.
     
  4. I've had a couple of instances where my positions were incorrect on my screen versus what I know to be correct. Usually this would be if I traded European Index futures after the European equity markets closed the previous day. The first time this happened I took what my screen had to be true and ended up short when I thought I was flat. Mid morning, I suddenly see I'm short instead of flat and (of course) this has cost me about 500 Euros. When I contacted their support staff I was asked if I had a screen shot of what my positions. Since I didn't have a screen shot they couldn't help me. For all the positives of IB, their support has always been terrible.
     
  5. KS96

    KS96

    IB, remove those forex positions from the portfolio, right now! I can see what cash I am long or short at the "market value" section. Are your developers so idiots to listen to those complaining that there is no proper P/L for forex trades? You had gotten it right when you started IDEALPRO. It's all cash, and I can settle however I want!

    Don't try the "Create Portfolio Page" feature(!) :D
     
  6. KS96

    KS96

    thanks