IB goes down for short periods from time to time. But what can you expect? ALL brokers have downtime, and I'm pretty certain IB is among the brokers with the least downtime. Look, even exchanges have downtime - so it's totally unrealistic to expect a broker to have 100% uptime. Anyone beyond basic understanding of IT and it's infrastructure would agree. IB's message indicates some of the advanced stuff they do behind the scene to have as much uptime as possible - redundancy, copies of accounts and orders on separate systems that can kick in if their main system goes down - all in realtime. The only way to properly deal with the risk of trading online is to have separate accounts with brokers. And of course, what you do is trade with BOTH accounts to avoid tying up money. If you don't want go down the multiple account route you should stop complaining, because that's the least you should expect from a professional trader. All brokers have agreements stating that they might have technical issues and that they're not responsible for trading losses arising because of this. Through the years I have traded with at least 10-15 brokers, and no broker is failure proof - it's the nature of the game. One has to plan for how to deal with it when it happens, and not just whine. Contingency planning is what it's called.
I feel like Iâm in a kindergarten. Kiwi man, you win. Your daddy is stronger than mine! Geez⦠I think most of you missed the point of my thread. I just wanted to hear about people who had a position during IBâs down time and unfortunately couldnât get out and lost money... As simple as that. I feel sorry for a lot of people on this forum, small pathetic, weak menâ¦
Some years ago I had IB go down when I was long 50 contracts on the QQQ's as the Naz started a dramatic 3 day slide. Couldn't get out of the trade quickly, or short against it. My complaint was met with a " Even the Nasdaq goes down sometimes" comment. Good luck getting $ back from these guys.
It makes me think I would never have a lot of money at a retail broker like IB. IB has probably tens of thousands of accounts where alot of them are not active. Some customers might leave after the fiasco but IB will be fine. A prop firm doesn't have this luxury. If that shit happened at any prop firm you can bet your ass that firm would do something immediately to recticy the situation and make their customers as whole as possible. Their livelyhood depends on it. A mass exodus could kill the firm. I have personally had problems rectified for me when shit has happened. Thank God nothing has happened for years where I'm at.
Jd7419, Thank you very much for your input. In a few lines you totally answered my question, talked about your experience and offered a solution. Cheers, I$land