DT-waw, To summarize, you are complaining about IB's customer support - the same guys who have helped lower your trading commissions and the same guys who will be adding your functionality requests to the TWS. UNBELIEVABLE!
Dear DT waw, I think we should discuss this on the phone---e-mail has not been an effective format for your questions, nor for my answers in addressing your questions. Please allow me the opportunity to address the topic more fully with you and your partner Przemyslaw. Pass me your number and I will be happy to call and discuss. John Seeberg 203-618-5991
dt-waw, It is inappropriate to post PMs here, especially private conversations with brokers about something very specific to what you are trying to do. If you had a question, you could certainly summarize your interactions with IB and ask if anyone here could shed some light on Forex regs or how to do what you are trying to do. I have personally dealt with John Seeburg and def on a number of issues and found them to be very helpful. They are both very conscientious, honest and diligent about their work. I'm sure Steve is too. They have to balance their own compliance as a broker with your needs, and it sounds like they've gone more than the extra mile to try and accommodate your needs. It's a shame that you feel their efforts deserve to be diminished here in this manner.
Sorry, man... We luv IB here. The answer is simple - If U R unhappy then use another freakin broker. Oh, there isn't another one with features like IB? Then thank your lucky stars for IB. Nobody is perfect. JMHO Good trading to you and good luck. C
If you want a professional answer, you need to contact an expert in the regulatory field, ie a lawyer who specializes in security regs, not a broker. YOU did not do your homework; don't blame IB for your failings. I've had a few dealings with IB on my account and they were all handled professionally and all my questions were answered. But, I did not ask questions pertaining to regualtions. DS
DT-waw IB is a rock bottom cost broker with an execellent range of services for professionals who know what they are doing. If you do not know what you are doing then it is better that you go to a broker who has the time and all the extra staff to explain all these things to you. And then pay accordingly their much higher fees. In the bargain you will get a far smaller range of services. Stop winching and whining like a child, IB has bent over backwards to accomodate you. You are most ungratefull. Sherlock
No, as I said earlier I know for sure that our business doesn't have to be regulated, the question is will IB open Professional Advisor Acct (capability to manage more than 15 accounts) without being registered with NFA or SEC or other local body - because there's no such requirement for us. If IB has it's internal regulations - non-registered entities cannot trade FX spot for more than 15 customers - OK, so IB will not have any of our investors as customers. Summary: (1) month ago I was told that I can maintain both long and short positions on multiple master sub-accts. today I got the info that it's impossible to divide the master acct (2) month ago I was told that allocation profiles do work with IDEAL Pro, now I know they aren't programmed yet (3) I cannot trade on FX spot for more than 15 customers without being registered with NFA or SEC (4) 4 months ago IB promised to extend IDEAL Pro to 24h. Still not implemented. Thank you very much, we we'll use different broker. End of story
You are changing the wording a little and the question a lot by adding: "...there's no such requirement for us." To me that is a very different question to the one you claim in the beginning of the thread you asked. Your first question did not say you were not regulated. DS