this statement is an archetypal example of the kind of person who posts on ET. the sense of entitlement and some kind of birthright to demand action from others by many ET posters rises to a level of absurdity.
do you do know how to check for someone's posts? the answer to the orginal question was answered if you would take time to read the responses. this statement is an archetypal example of the kind of person who posts on ET.
Obviously, the poster does not know how to check for posts so just tell him to go to Search and type in the name, or tell him that yes def is still around and has posted recently. I'm afraid your post is a more typical example of the "kind of person" [your words, not mine] that posts on ET. That kind of typical poster on ET appears to be rude flamers [my words] like yourself.
Interest is fully explained on our web site. I found the below link which provides a detailed explanation with examples by typing the word "interest" in the search button on the IB web site. http://www.interactivebrokers.com/en/accounts/fees/interestMethods.php cknucks, I actually have a very demanding job which demands my attention on a number of other matters besides this forum. You can also substitute the words "wife/family" with job. I'll also be taking a day or two off (and if I can spare the time slack off and sneak in a few hours of sleep) between now and year end so please accept my apologies in advance if I don't attend to every question posted on this forum
Why jump to this conclusion? For you to gain interest in the amount of $3k in one month, you'd have to have an account balance north of $750K. I don't think that's the case. Therefore, I believe you simply don't understand IB's accounting methods and how trades are reflected. It's not that it's difficult to understand. It's just that IB uses an accounting method common in the professional level of the industry and not the kind you might find @ Schwab or your local bank.
Yeah, it's true. But you know, it's a reaction to certain types of new posters that drives it. I've been reading ET for a lot longer than I've been posting. And you know what I find? The new posters who make generally wild accusations against this or that, with nothing more than anecdotal proof, then demand everyone see it their way or answer them instantly, are the ones who get the ribbing and flames. ~95% of them turn out to be wrong in the end. Mostly because they just don't know what they are doing or talking about. The thing is, their approach to a perceived problem pretty much lets the experienced know what the deal is upfront. At the same time, you also have corporate shills coming in to attempt to defame a competitor by creating a sense that all is not well with their competitor. It doesn't take long to discover these individuals but sometimes new posters with seemingly legitimate concerns are thought to be a shill. The giveaway is usually when a poster refuses to try or explore the suggestions which would remedy the situation or when they create a problem which is uncommon but would be detrimental to a majority yet try to pass if off as if it is a common problem. All in all, they never provide proof and usually demonstrate a lack of knowledge at some point. A knowledge which is common among experienced clients. Because of this, noobs have to go through a hazing of sorts to test their character. BTW, you came out on top with the acknowledgment of your mistake and apology to IB. Nicely done.
Quote from Option Trader: Unless IB did something crooked, I don't think you are right; when the "Accrued Interest" decreased, the "Total Cash Value" did NOT increase the next day. Crooked? I give up.
Some of you are being a bit touchy. Back to business. First a correction: what we noticed the balance did not increase when the accrued interest decreased was not what alanm said either, rather it was "Net liquidation value". This is from the link Def provided: "The results of the above calculations are booked to a special âAccrued Cashâ sub-account, one for each currency. Accrued Cash has the following features and functions: FUNDS FOR TRADING: accrued cash is applied to trading balances, both positively and negatively. WITHDRAWALS: accrued cash does not affect Settled Cash balances and therefore cannot be withdrawn. Positive accrued cash balances do not increase the available funds for withdrawal. However, negative accrued cash will reduce the withdrawable funds. This avoids the problem of accounts being closed and leaving negative balances later on. PATTERN DAY TRADING: accrued cash does not count toward Pattern Day Trading minimum balance requirements. Every day, the new calculations for accrued interest are added to the cumulative accrued cash balances from the previous day." Alanm, you seem to know everything, let's try again: is "Net liquidation value" changed on a day to day basis, or updated at the end of the month?
if you have an IB account you would not ask the question because you would see the value change every minute.