and when you factor in how much i am paying for data that keeps going up every year (and they keep changing subscription packages to get more revenue by making me pay extra for one item i use by bundling it with another bigger bundle to get more money) and the amount of commissions they get at the end of the year from my account it is just obscene, especially since actual real time futures data is free on the net......http://www.investing.com/commodities/brent-oil-streaming-chart just not in a good mood today, you dont fuck with the funds number 1 rule!
The guy is risking a fill on 240 to move the thing a nickel or two. no the firm isn`t because there are 30 contracts at that price that aren`t his, and/or he will pull the order if 5 contracts get hit, it is pure manipulation and it goes on in the open to move price and nobody does anything about it - the point is that regulation is non-existent these days: http://www.youtube.com/watch?v=ed2FWNWwE3I
if someone really intends to buy or sell a large block order they will either just do it (not place it five ticks above or below price to advertise to other algos/traders) or they will conceal via iceberg or algo program to acquire a real, legitimate position. This is pure manipulation, and the fact that it has increased in frequency means it is highly effective and profitable, (but it is illegal)! The SEC & CFTC are a joke!
I don`t think you guys realize the magnitude of what happened today at IB, a 'software glitch' is showing that you have a negative pnl on a chart toolbar going from p.m. to a.m. which happens more than I like at IB, but one can easily check account balance to ensure no account malfeasance. But to be logged in late the night before, go to sleep, wake up and be showing no cash in account, and a negative account balance, not only on Trader Workstation, but to separately log in to Account Management and it too shows no cash, and a $4,000 negative account balance is just unacceptable. This has severely shaken my confidence in keeping any money with IB.
In fact, since IB is an advertiser on this site which seeks new business from traders, a rep from IB should come on here, and provide a detailed explanation for all to see, just what happened today, and what measures IB is going to put in place to ensure this never happens again to anybody else.
Agree totally...you can have glitches and good customer service or smooth operation and lousy customer service but to have BAD glitches and LOUSY customer service would be the end of a relationship for me. I sometimes think IB actually takes pride in their lousy customer service!
BlueStreek The worst thing will be is after everything you said...you will continue using IB considering you stated you have "many" accounts. Simply, you can easily move your funds elsewhere without impacting your trading. In contrast, if this was your "only" account and you didn't have enough funds to open a new account with someone else...than I would understand why you had to stay with IB. My point, the best way to complain is to stop being one of their customers.