IB Universal Account - useless for european trading?

Discussion in 'Retail Brokers' started by sharktrader, Jun 27, 2002.

  1. There was this long-awaited introduction of IB's Universal Account. Trade all instruments in all currencies through just one account in one TWS!! Great!! Excellent!! A major step forward, a milestone!!

    I've had the pleasure to beta-test and there was nothing I had problems with. Everything was running smooth and I could trade all over the US, Europe, etc.

    At the beginning of this week, it was officially released. It is since then, that during the European morning (approx. until 6am EST) no trading is possible. The account shows a balance of 0.00 in all currencies and no positions are displayed. It is not possible to enter into new positions and much worse not even possible to exit existing positions while they are moving and trading. This is outragous and absolutely incredible. Although I have e-mailed ib in Europe (they came back with the standard "we are working on it" e-mail) and the US (of course, no answer at all from IB US help desk) several times, nothing has happened.

    It is so great, that IB has such a marvellous product with its TWS and now a double whammy with its Universal Account. But it is so sad and really terrible that they don't give a shit about their customers.

    In this particular case, it didn't cost me any money and of course I know I could liquidate positions by phone (with the additional $30 or $50 I had to pay, for IB's failure), but it is the loss of opportunity and the frustration that they are not at all responding to an unacceptable situation that is driving me crazy.
  2. didn't get anything back, but at least it's working today again... hope the fix is not only temporarily...