Home > Brokerage Firms > Retail Brokers > IB wait times suck

IB wait times suck

  1. Rarely call during the day, but wait times are quite long. Not good
     
  2. I know they can sometimes be unacceptably long, and that universally prompt customer service isn't exactly IB's forte, but to be fair it is the week between Christmas and New Year ... " just saying" ... :confused:
     
  3. ...What was the call about...tell all the exact, specific details o_O -- i'm bored,
     
  4. I can get my broker on the phone in 5 minutes to an hour almost everyday. If I need general advice on an options strategy, I get it. I had a half hour call yesterday discussing connectivity, options selling and general strategy advice. All actionable information. I don't get trade recommendations of course but the advice I get (assuming I take it) generally keeps me out of trouble. Unless you're trading Zambian index futures, there are plenty of options. Sometimes the grass is greener on the other side... Just gotta look around folks.
     
  5. Who do you use?
     
  6. Now I'll look like a shill :)..just kidding. Bob Morse, Lightspeed trading. I make no money off this. I'm just a satisfied customer and I prefer to do business with companies that treat me well. That is all. Reach out to Bob. He may be able to help you out.
     
  7. I'm just curious. What do you IB guys and gals do if you need to get out of a trade and TWS is down? Can you get through to the trade desk in a timely manner?
     
  8. And I’m sure if lightspeed is down you’ll get right through.
    I agree with Xela, half the world is on holiday this week.
     
  9. I don't think this is a holiday issue. There are numerous threads on the issues with IB along with some horror stories. All I'm suggesting is that people should investigate their options. Some people might want a higher level of service and it is readily available. To those that are happy with IB and its level of service, don't switch!
     
  10. I'll dissent a bit Xela. If people are still trading, the broker needs to maintain their level of service. What if issues arise? No broker is perfect and I'm sure lots of folks are leaving for the holidays but IB has the funds to maintain staffing. It's not a one man shop like Deep Discount Trading.
     
  11. Never call Interactive Brokers
    Use their support chat, it's very fast and efficient.
     
  12. There's no question that IB has customer service issues and I'm not going to defend that. Not that it proves anything (finite sample) but I would guess that it might be a holiday issue because for the 8-10 times that I called this year, the wait was at worst, a few minutes.
     
  13. I think that in nearly 20 years, I've only experienced a couple of times that IB was down. The bigger problem was my ISP going down. For that reason, I have a small account elsewhere as well as two ISPs so that either one going down doesn't shut me out. For hurricane power outages, it was find the local wifi :(
     
  14. the original business model of IB was to be highly computerized.have experienced traders, low costs and little hand holding. over time as online trading became extremely popular and the rest of the industry was slow to adjust there was a flood of inexperienced investors who opened accounts, the demand for customer service skyrocketed. as usual the ones to complain are inexperienced and generate little commission. more than one idiot on ET was grumbling about a $10/month minimum commission requirement and talking as if they doing IB a favor by having their account there.

    by the way till this day there are retail firms that that don't allow most of their of clients to trade between 9:20 and 9:30 am est just prior to the regular trading session.
     
  15. +1

    The grass is always greener. Service for nickel & dime customers is hit-or-miss at most/all brokerages. IB has no monopoly on "please continue to hold."
     
  16. +1
    plus it says nothing about the level of expertise of reps at other firms.
     
  17. FWIW, the primary reason for my needing IB's customer service multiple times this year was upgrade issues. Given that I do what I do on the platform and I rarely utilize all of the new fangled new stuff, I rarely upgraded an existing version until the ultimatum comes that my version will no longer be supported.

    That happened earlier this year and much to my chagrin, I ended up with a version that auto upgraded. Almost every time that occurred, it blew out my configuration. As a small example, one time I had to shift from font size of 16 up to 25 to see the letters and numbers. With the next "up"grade, I had to shift back to 16. That was one of the easy ones.

    The reps were competent and patient with me. But it sucked up time. Fortunately, they have a version that does not auto upgrade and now I'm back to living with what I need and works consistently and I've kicked the customer service phone habit. I hope that I'm cured! :D
     
  18. +1
    I totally agree.
    I contacted IB a few times, and everytime through chat, and service was fast and accurate.
    Last time was 1 week ago.
    Phone calls are so 80' ;).
     
  19. more likely there is an internet interruption e.g. data feed from the exchanges
    what is a timely manner in a fast moving market?

    there is no retail trading desk capable of handling a massive inflow of calls in a timely manner.
     
  20. Fair point...
     
  21. Inclement weather is a real problem. Did you try turning your smart phone into a hotspot? I use that as a back up. And I bought business class internet fwiw.
     
  22. Primary connection wired, backup mobile (3G/4G). Mobile towers have generators in most places. Also good to live in a place that has diesel generators in the basement.
     
  23. There are times when you need to call. For me it was getting the security card shipped to me, I don't remember why exactly but I needed to call in.
     
  24. During the GFC I only had one ISP. Because of the volatility, it was not unusual for me to have 15-20+ open orders at a time. My ISP went down and I was a bit freaked. Oddly, the fills I got during the outage were in my favor. Murphy's Law dictates that such fortune should not occur.

    Since then, I have carried two ISPs and consider the add'l fee to be the price of peace of mind.
     
  25. murphy's law works in reverse for traders. most trader's would be more profitable if their ISP
    were down 95%of the day.
     
  26. LMAO. I have no smart ass retort for that. :D
     
  27. This isn't and has never been IB's model. Also - if you need general advice on options strategy from your broker, you're asking for trouble IMHO.
     
  28. I agree. I didn't mean general advice like "what's the difference between a put and a call or how do I put on a vertical spread?" but I can see how you interpret my comment that way.

    Just comparing and contrasting. And I believe Lightspeed offers discount rates as well equal to IB or better. I'm speaking about the level of customer service. At the same commission rate or cheaper.
     
  29. I don't want to just shill for Lightspeed here. There are other brokers who offer some of what IB offers at lower prices. You honestly would be shocked at what rates are available with no volume requirements whatsoever. I'm talking about regular SIPC firms and not prop.
    Some prop firms offer a range of markets similar to IB and at lower rates. The one advantage of IB has always been its breadth of offerings but there are similar firms. It pays to look around folks.
     
  30. you have not mentioned essentials including the quality of trade executions, price improvement and the ability to go short.
     
  31. These guys are running HFT strategies on options. They have server racks close to the exchange matching engines and have an execution desk as well. I'm guessing trade executions are not much of an issue if several prop groups are using them.

    Lightspeed offers infrastructure for HFT as well (HFT gateway, server colo etc..). Free high quality front end IIRC. Livevol X.

    People are making money using these firms and what they offer. IB offers deep discount pricing but their rack rates can't compare to some firms. Compare and contrast that's all I'm saying.
     
  32. I have always challenged anyone who claimed there is a broker which offers similar markets to IB at lower rates. Let's forget about quality of trades. I am fine if that broker executes my market order after one hour !!!!!!. Let's stick to the commission and the margin rate. Just name one broker and I will post my commissions with IB and then we can talk. I am just trading US equities and options and I believe any broker should cover those. I am not trading ivory future !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!.
     
  33. Guys, I've pmed the gentleman who asked about rates but with all due respect, I'll simply back out of this conversation. I'm not sure Baron appreciates people posting broker rates publicly and I don't think brokers do either. If anybody is interested, just reach out to Lightspeed or just call firms in Chicago, London, NYC. Compare and contrast. Trade where you're happy folks.
     
  34. For the every day Joe, IBKR's low rates (50 cts per 100 shares) are better for <1,000 share orders plus the ability to scale in and out. The $4.95 flat rate guys are better for larger trades. So best commission depends on the nature of your trading.
     
  35. why do you care what brokers think? as to Baron you haven't even tested the waters. your posts on the subject of quality of execution have continually danced around the issue.
     
  36. your statement is correct for the everyday joe.
    however, what good is best commission if the order does not get executed or is filled at a sub-par price.
     
  37. Umm..my executions are great. The guys who run HFT strategies have no complaints and consistently get executed where they want in the complex order book. The rebate guys are doing fine. What else is there to say? They're rebate trading or spreading on an active basis and doing well.
     
  38. And its all DMA not smart routed of course so they can get the rebate and I'm guessing here but also to capture more of the spread. No PFOF if it is DMA IIRC. But you can always check their 606 report to verify.
     
  39. My reply was based on the assumption that one is getting fair price execution from whatever broker one is dealing with. If there's PFOF or some other reason for a sub par fill then that's a different story.

    500 shares round trip at IBKR costs $5, as long fills as fills are 200 shares or more (the $1 minimum ticket). At tastyworks, it's a flat fee of $5 to open with no closing commission. Clearly, one's trade size determines which one is cheaper to trade with.
     
  40. Are you joking? 1 h wait times norm...
     
  41. charles krug is a pro trader. you are not an a pro trader, maybe not even an active trader.
     
  42. haha, that is great, good for him ;) are you or him paid by IB? ;)
     
  43. They claim 1-3 minutes hold time on the recording, and 15 minutes later increase it to 15 minutes.

    nice.

    spend some more of those billions on CS petterfy
     
  44. Given the current state of the markets , I'm convinced IB is charging TOO MUCH
     
  45. Can you elaborate on that?
     
  46. waited 20 min to get an agent, now another 30 min to get a tech on the line, all to report a fukking bug in THEIR platform

    I think they make enough money not to waste our time like this
     
  47. NEVER picked up. nice. good job guys
     
  48. dare ya to call and get through today before 20 minutes.
    but the recording says 3-5

    liars?
     
  49. I have this every second day.... heh... They should pay me/us for debugging ;)
     
  50. Yet another "I want Chevy prices but Cadillac service!" thread. If you have a meaningful sized account, there are numbers you can call at IB, as at any broker.
     
  51. most programs come with bugs. try first to find a quick workaround.you report them. IT departments prioritize getting rid of them.if it is a major bug it is cleared up within hours or a day. if it is a minor bug it could take a month. don't phone them. you are wasting everybody's time. send a message. they read them. if they receive a lot of messages they understand the situation and how to respond. it is a process. it takes time.

    too many whiners lately on ET.
     
  52. God bless poster SoesWasBetter. Thanks for banning me.
     
  53. We cant all be big swinging dix like you
     
  54. Nor will you ever, if you spend your days whining.
     
  55. apparently ., you're 100% automated else you wouldn't have time to give me all this free great advice
     
  56. 15 minutes and holding

    but

    "your wait time is less than 1 minute"

    they cant even get their phone system to work?

    holy shit? hold on

    SS 10,000 IBKR

    thanks in advance
     
  57. If you've been shorting since you first b¡tched about IB, your entry price is much, much lower.
     
  58. I was long. Thanks for asking. terkee

    hope you got my INTC short call in the other thread
     
  59. Long,... yet selling-short, not selling a long.... Perplexing. Must be a new order type I don't know about!
     
  60. lots you dont know about, that's clear to everyone
     
  61. DARE you to call IB and get through to the help desk

    This is criminal idiocy

    They make billions and cant afford someone to answer the phone?
     
  62. god help you if you have a trade issue.

    expect to lose money
     
  63. INTC....another LIVE winner.

    Documented. over 50 cents since my post

    but I didnt short.

    I bought the put for 42c and now its 68

    nice, 4 me

    ps IBKR also down 50 c since my post.

    I post more winners in a day then the rest here do in a month
     
  64. .80 (just traded 87) bid now for a double. in less than an hour

    eom

    thanks for playing the home game

    can I ask a question.? whats it like being a basher and having the bashee toss winners in your face over and over? never happ to me . so I'd like to know
     
  65. $1 now for the .42 entry

    wow

    INTC down a buck since my tout .
     
  66. banked in the 90's for better than a double in an hour.

    i enjoyed
     
  67. Not sure you want to make that bet with me. I talk with my coverage when I want to. In fact, I visited in person at HQ in Greenwich last month.

    But if I haven't dissuaded you, we can agree on an escrow account, and I'll make the call while you watch on Skype. I'll put $100k on the table.
     
  68. BOOM INTC ripping.

    My profits safe and warm. Banked. Thats how its done kiddies. Live. Realtime. Not your after the fact bs
     
  69. Did you fix the leak?
     
  70. PM me when you're ready to put up the money. Till then I'll stop reading your posts. Thanks.
     
  71. lol. fraud
     
  72. Still impossible to get through in a reasonable amount of time.

    Hear holiday staffing extended to April
     
  73. Their interface is horrible too. I simply cannot stand TWS or their web interface.
     
  74. I am trying to set different PRESETS for each and every futures.
    PRESETS include setting setting Quantity, Target order, and Stop order (ie bracket order).


    Under CONFIGURE --> PRESETS ---> FUTURES,
    I have created diffferent TICKERS for the various futures.

    I managed to set some of the futures PRESETS based on the TICKERS I have created.

    However, there are some futures PRESETS which I cannot change to whatever TICKERS I want; it will DEFAULT to a particular PRESETS.
    Any idea what is the problem?
     
  75. called IB and put on hold . a disgrace.


    [​IMG]
     
  76. Nice short VUZI quick 40 cents on 10,000

    The realtime service gets the entries.
     
  77. Soes can't see this post cause he has me on ignore...for what reason I have no idea ....for being nice to him I guess and respecting his wisdom...but can anyone here post me the link where he said he shorted VUZI today cause I sure as hell can't find it.

    Now Soes... you call everybody a fraud. Where did you call out VUZI?