IB withdrawing funds

Discussion in 'Retail Brokers' started by zentrader, Sep 11, 2001.

  1. I think it may be prudent to withdraw funds from my futures a/c until the current situation settles down a little.

    Has anyone been in touch with them today to find out if there will be any delays in getting a wire transfer? I can't get through to their help desk at the moment.

    Thanks.
     
  2. Just got word from the help desk that there will be no delays. The australian market has held up well in the last 30 minutes, the key test will be japan.

    If they can re-open the stockmarket on thursday I won't bother taking any money out, if it won't be until next week the ramifications may be more serious.
     
  3. roger2

    roger2

    panic leads to even more irrational behaviour

    what kind of "ramifications" are you expecting?

    today's events are a terrible catastrophe, but it's over

    our government and our financial systems are intact (as are those of other nations), it would require much, much more than the loss of the WTC to disable our economy

    as far as re-opening US markets, I hope they do wait for a while -I would view that as a prudent, positive sign, not as a reason to withdraw funds

    the bear market and these terrorist actions are two seperate events. the bear market was inevitable after the unprecedented bull market we experienced for several years - it is a necessary and not unhealthy thing.

    IMO, IB is not going to lose your money, I am not withdrawing mine
     
  4. Sanjuro

    Sanjuro

    Why would you withdrawl your funds?
    Isn't it insured up to 500k?
    I don't think IB will go out of business.
     
  5. def

    def Interactive Brokers

    IB's help desk in the states is located in Chicago and the building was evacuated yesterday and thus could not answer calls. All operations are running normally. If they keep the building closed today, I'm not sure what will happen with calls, but chats should be operable.

    Treasury operations are normal. If you care to withdraw funds go through the normal channels on the web site.

    Otherwise, all funds are safe.
     
  6. tradex21

    tradex21

    I think IB and every other financial institution in the United States is going to be just fine.