show me a broker that does not have this problem from time to time? You need to be prepared when it does happen. All the bitching and moaning does nothing! That was my main point!
Thanks. Anyway the system is still unreliable now. The status is still red. 1 hour is coming, and the issue still hasn't been resolved. I chose to leave IB some time ago due to some small issues. The issues themselves is minor, but what's important is how IB handles its business in those issues. Opinions and suggestions have been given but IB didn't listen any at all. Together with the connection problems reported by different members in the past 6 months, I confirmed my decision ot leave. Now IB experienced big downtime. It appeared to prove my observation is right. Well I may be wrong. But one thing is certain. IB quality seems to be deteriorating. Is it just an ad hoc event? Or is it just one of the series breakdown in future? Let's see.
PLZ READ THEIR RULES BEFORE OPENNING ACCOUNT WITH IB. AND PLZ READ THIS CASE OF "Mr DEV17" CLICK> http://www.elitetrader.com/vb/showthread.php?threadid=51251 IB IN MESS > http://www.elitetrader.com/vb/showthread.php?threadid=53285&perpage=6&pagenumber=9 In mess again> http://www.elitetrader.com/vb/showthread.php?threadid=53285 MESS NOT CLEARED> http://www.elitetrader.com/vb/showthread.php?threadid=53285&perpage=6&pagenumber=10 Click> http://elitetrader.com/vb/showthread.php?threadid=109534 Click> http://elitetrader.com/vb/showthread.php?threadid=109674
IB RULES: IB calculates initial margin requirements at the time of each trade, maintenance margin requirements on a real-time basis, and Reg T margin at the end of each day, and will LIQUIDATE POSITIONS on a real-time basis if there is a MARGIN DEFICIENCY. Real-time margining allows IB to maintain low commissions because IB does not have to spread the cost of credit losses to customers like other non-automated brokers. All of the calculations below as well as other real-time account statistics can be found in the TWS account window. For a detailed description of the account window and its underlying calculations, see the TWS User's Guide. It should be noted that all liquidation are subject to the normal commission schedule. Advisor clients will not be subject to advisor fees for any liquidating transaction. New Position Margin Calculations Upon submission of an order request, a check is made against real-time available funds. If available funds including the order request >=0 the order is submitted, if it is negative the order is rejected. The following calculations are used to determine available funds: Securities available funds = Securities equity with loan value - Securities initial margin requirement. Commodities available funds = Commodities net liquidation value - Commodities initial margin requirement In addition, you are required to have a minimum of $2,000 or USD equivalent of securities equity with loan value or commodities net liquidation value to open a new position. Maintenance Margin Calculations On a real-time basis, excess liquidity is checked to ensure that it's >=0, if it is negative the account is subject to liquidation on a real-time basis. The following calculations are used to determine excess liquidity: Securities excess liquidity = Securities equity with loan value - Securities maintenance margin requirements Commodities excess liquidity = Commodities net liquidation value - Commodities maintenance margin requirements Reg T End of Day Margin Calculations At the end of each US trading day (15:50-16:00 ET), a Special Memorandum Account (SMA) is checked to ensure that it's > =0, if it is negative the account is subject to liquidation. In addition, no cash withdrawal will be allowed that causes SMA to go negative on a real-time basis. SMA is calculated for all securities (stocks and options) regardless of country of trading as follows: Special Memorandum Account=Maximum ((Equity with Loan Value - initial margin requirements*), (Prior Day SMA +/- change in day's cash +/- initial margin requirements**)) * Calculated at the end of the day under US margin rules. ** Calculated at the time of the trade under US margin rules. Margin Models Margin requirements are calculated either on a rules basis or a risk basis. For rule based margin systems, predefined, static calculations are applied to each position or predefined groups of positions (âstrategiesâ). The following instruments are margined using rule based margins: US stocks, index options, and stock options Canadian stocks, index options, and stock options Dutch index and stock options The calculations for each of these products are described under the Trading/Margin pulldown menu. For risk based margin systems, exchanges consider the maximum one day risk on all the positions in a complete portfolio, or subportfolio together (for example, a future and all the options delivering that future). The general calculation method is as follows: Exchange assigns scanning ranges for price movements, volatility shifts, and other risk directions. The ranges are based on observations of historical performance of the underlying instrument. Every instrument (stock/option/future) is valued over the ranges of price, volatility, etc. The resultant value matrix is distributed to Interactive Brokers on a daily basis. IB values the (sub)portfolio over the matrix and determines the worst case scenario loss using standard models approved by the exchange. The margin is calculated as the difference between the current portfolio value and the worst case value Margin requirements for each underlying are listed on the appropriate exchange site for the contract. A summary of the requirements for the major futures contract requirements as well as links to the exchange sites is available on our Futures Margin Requirements page. Restriction on Leverage There is a real-time check on overall position leverage, as follows: The Gross Position Value cannot be more than 50 times the Adjusted Net Liquidation Value. Alternatively, this can be expressed as: 2% securities gross position value > Net liquidation value - Futures option value Liquidations may occur if the Gross Position Value exceeds more than 50 times the liquidation value. Universal Account Although the Universal AccountSM should be viewed as a single account for trading and account monitoring purposes, for regulatory and segregation purposes, there exists a separate securities and commodities account. If there is a margin deficit in either your securities or commodities account, cash will be immediately transferred to protect the margin deficit. At the end of each day, any excess cash in your commodities account will be swept to your securities account. Margin What Ifs Margin "What Ifs" may be tested through the TWS Demo or by creating an order and choosing Check Margin under the Orders menu before you transmit an order.
By Bitstream. "what innit for you to post this?" Nothing innit for me at all!! I Just like giving help to those that need advice about TRUTH!! Its also the season of GOOD WILL!! http://elitetrader.com/vb/showthread.php?threadid=86039&perpage=6&pagenumber=1 http://elitetrader.com/vb/showthread.php?threadid=86039&perpage=6&pagenumber=2 http://elitetrader.com/vb/showthread.php?threadid=86039&perpage=6&pagenumber=3 http://elitetrader.com/vb/showthread.php?threadid=85044 IB less and less reliable http://elitetrader.com/vb/showthread.php?threadid=93011
Does nothing? An excuse really. You want everyone to shut up so IB looks perfect to other potential customers. Well we are not paid by IB so we have no obligation of hiding its problems. Connection problems have been reported many times recently. Finally a global and so looooong downtime comes. New and existing traders (not trading at that period) will not realise this global and so loooog downtime if we don't report here. A good pre-warning for another big downtime. Stay tuned.
so those that say have a back up account only makes sense if backup account is capitalised same as primary account to be able to hedge positions, why do that with hedge funds doing nothing and how many can afford that luxury. get a reliable broker and no broker is 100% reliable all the time.
$52k gone from my IB account. What next, sue IB? http://elitetrader.com/vb/showthread.php?threadid=107347&perpage=6&pagenumber=1
Date Registered: 09-05-07 61 post http://www.elitetrader.com/vb/search.php?s=&action=showresults&searchid=2123938 3 pages of threads ALL against IB, blaming for all kind of stuff... i doubtâs, that you have time to trade anything.. Iâm not in love with them either, but from my experience they waaaay better than a most of discount brokers. not to mention array of products and markets IB offer.. Show me another broker, who will have list of same products at same price. Can you? If you canât, i suggest you to STFU.. how long you are with IB?