Hi Again I finally got a reply to my complaint about rediculous fills today. I complained about fills taking minutes. when I explained the problem, and asked them if there could be a problem with the trading platform etc. they asked to see an execution record. When I gave them one they wrote back and said ,It shows the record right here ,THE TRADE STANDS! I said nothing about anything standing. I need help. This only shows that they are having multiple complaints on this order and can't do anything about it so they are telling people to shove! I have been searching the forums, and this is a common complaint with IB. Everyone feels that IB is getting too large too fast and are cramming too many customers per server. If you are looking for an online broker, Keep looking!
This is really wierd. Many people on this forum trash IB, but I have been using them for about 3 years now and have had only minor problems. I use the API and it works very well. Strange.
Yeah I know; makes you wonder sometimes. I've been with them going on 2 years now and would never switch to anyone else. A very few minor glitches here and there but overall a great experience. TWS and its API work great, fast fills and great commissions. If you want a broker who'll sit there and hold your hand all day, go to Schwab and pay 29.95 a ticket.
I'll agree that IB is not 100% perfect but there is no guarantee that other online brokers are not having similar (or worse) issues. The laws of probabilities just have these IB posts show up more on a forum like this one because many of us use IB and many of us do trade a high number of transactions. The beauty of it all is that you can take your business elsewhere if you believe that will improve your future trading experiences. I have also experienced problems, with fills, or with the user interface. With fills, many of these times it is probably not IB that is at fault, they are merely the conduit to the markets. Many of the respectable traders on this site who have used IB for several years find that their fills are good and that IB's service is improving, not deteriorating. I can only hope this impression is valid and that I will see good service going forward. Just like these markets, nothing is linear and perfect. Anybody want to plug another broker here that is similar in cost and as robust as IB. I am always interested -- I am sure shovel53 would like to hear as well. Cheers, dB
Generally speaking, when I have had a slow fill with IB it has been with a relatively illiliquid stock or the stock was actually moving up and down and IB's system gave me the better price even though it hadn't yet showed up on TWS. Of course, in the first case I can't really blame IB and in the second I can only thank them.
I was at 2 other brokers before IB and used their stinking webpage-based forms. You sit there staring at "webpage found . . . waiting for reply. . ." while the market moves away from you. Never again. TWS rocks!
Doesn't sound right. I enter and cancel 1000's of orders a week, with rare problems. Are folks confusing fast markets and illiquidity with IB problems or is it something else?
shovel, everyone here does not believe IB is getting too large. it. if anything it has gotten much much better over the past year (especially for active traders). wasn't it last week someone posted and said they won't open an account with IB because they want to get through to customer service within a few rings. I challenged them and they responded that they called the next day 3 or 4 times and got someone who was helpful straight away. The fact is that our customer service stats have improved greatly in terms of response time, information provided, fewer complaints, etc. It does ofcourse happen that a reps gets a mail, reads the question too quickly and doesn't give a proper response. if that happens, resend it and ask for them to please re-read the question. If you want, send me a PM with the details and on monday I'll ask someone to specifically look at your query. odds are that your order sat on the bid and didn't get filled because it wasn't hit, with the proper details, I hope to confirm that.
I've noticed and greatly appreciated the quick phone response time. Every time I have called lately someone has answered within a one or two rings!
I have no complaints about IB. TWS is pretty quick. The API on it is good. Customer service? I wouldn't know - I've only needed to speak with them once and that was fine. I often read posts where IB is being complained about, but can not re-inforce any of the negative comments made because my own experience has been nothing but good, and long may that last! Best Natalie