IB incorrect commission charges

Discussion in 'Retail Brokers' started by Htrader, Mar 1, 2006.

  1. Htrader

    Htrader Guest

    Just a heads up to traders here, IB is having software issues calculating commission charges for some equity trades. I was overcharged about $60 yesterday with certain trades costing alot more than they should. IB says they are aware of the issue, but no fix as of yet.

    Check your trade statements carefully.
  2. did the trades with erroneous commissions have anything in common?
  3. GTC


    Today IB is letting me buy more than what shows in "Buying Power". I did not see this happening last year. IB chat representative has no clues but says that if the system lets me, I can keep trading. You might want to double check your unbundled commissions as well as re-calulate your proper buying power yourself if you smell something fishy.
  4. Htrader

    Htrader Guest

    I'm still on the bundled commission plan, which makes the overcharges highly irregular. They all occured on nasdaq stocks, can't see much of a connection beyond that. During the day yesterday, my account balance looked fine, then overnight after the trading statement was generated, the errors showed up in my account.

    I've been with IB for five years, and this is the first time incorrect charges have appeared on my trading statement.