IB Policy: We don't confirm trades or position

Discussion in 'Retail Brokers' started by Trader.NET, Dec 18, 2003.

  1. After being burned by IB technical glicth Tuesday, I'm very careful about what's going on with my orders on TWS.

    Today, through the online chat, I contacted IB for confirmation of my position and open orders after some strange errors again. The guy replied with this disclaimer first "Per IB policy, we don't confirm trades or positions". Then he told me my position and open orders from his screen and from Globex.

    Is this a new policy?

    If IB can not confirm our trades or positions, who else can? GLOBEX? How can we contact the exchange directly?
  2. Daryn


    I have heard the exact same line from another broker. Basically it called CYA. Whatever goes wrong is the customers problem. Which makes you wonder who does know what your positions are?

  3. Brokers always hedge because they never know when an exchange will add/delete a position overnight once the books are cleared.

    Once back in Dec 1998 Waterhouse didnt confirm a fill for 3 days!
  4. It is not surprising you heard someone said something like that. Not surprised, only representatives of piece of shit "they" say somehing like that.

  5. I had a CBOE order which was cancelled per the TWS (Red Bar) and never showed up on the executions report. I open TWS this morning and the trade was posted to my account. First bad deal I've had with IB in 3 years.

    Total PIA
  6. I hope that IB customer service will be able to explain what
    happened. No more unresolved issues of that type, please !

  7. ASAP ?

    they do have european and even HK ( DEF ) offices

    besides those in the USA