IB trustuworthy?

Discussion in 'Retail Brokers' started by apple, Jul 9, 2012.

  1. apple


    when dealing with IB, feel like they're not trustworthy.
    Submitted fund withdraw and fund deposit request at the same time with different currency, deposit request processed very quickly, while withdraw not processed until inquired, their excuse is it takes more time when they're busy, or when it needs manual approval.

    It sounds like an excuse for them to hold the fund as mcuh as they can.
  2. rwk


    If you're a U.S. resident, withdrawals can be automated. If you're outside the U.S. or need manual processing, expect it to take a long time.
  3. vicirek


    IB is OK; they are just not customer oriented because they assume you are more professional trader and do not need much help and hand holding. If you need more help then broker with higher fees is for you and it still does not guarantee better service.
  4. Kirkx


    With IB you need to avoid doing anything that requires human involvement on IB's part. Their philosophy is to have everything automated and done by computers.

    I'm from Canada and there are no problems with either deposits nor withdrawals, which can be done either as bank SWIFT wire transfers or through our local Electronic Fund Transfer system.

    It seems that your account is located outside N.America, where for some reason IB doesn't offer automated withdrawals.
  5. pbb


    Just to say, I never had any withdrawel problems with IB here (Netherlands). I think it takes three to four workdays at the max (even had it the next day once) for the funds to be in my bank account.
  6. BSAM


    In my opinion IB is the only trustworthy broker out there, all things considered.
  7. WD40


    I have never had problem depositing or withdrawing money.
    Every time I submit a problem ticket, it was answered promptly.
    A few times I needed to made a phone call, I always got a human being at the other end, and my issues were always dealt with immediately and courteously. Some people like to post their IB questions here, and guess what, IB reads this forum, and those questions were answered too. I am impressed. I am happy. If you are not happy, do something about it. eg. LEAVE.
  8. Feel the same way, still when the capital is important I suggest multiple broker diversification.
  9. pbb


    Depends on what you're trading I gues... I am with them since 2003/2004 and still think there is no serious competition. Have tried some on the side and still use some, but my main trading goes trough them (not hf- like but still some little 100 lot's à day) and good liquidity and spreads.

    If they are not to be trusted, who is in my opinion... Maybe I am wrong, but it doen't feel that way.

    Hope some of you back me for that, otherwise point me to something that lead to less then one time I considered them bad after one above average slippage during 'news', which have cost me an extra R.
  10. 1245


    I hate the COB tickets. Buys/sells always backwards.can't easily repeat orders.
    #10     Jul 27, 2012