Interactive Broker negative account balance EUR/CHF customer group...

Discussion in 'Forex Brokers' started by EURCHF, Jan 30, 2015.

  1. Snbmess

    Snbmess

    I thought you don't need to liquidate anything as your positions always end up in positive territory
     
    #41     Feb 16, 2015
  2. heywally

    heywally

    My condolences to the people with negative account balances. You may have screwed up to an extent in having too large of a position but I still feel badly for you.

    My rule with the futures is to always assume that I am liable for the full contract value with my positions; I think Black Swan, which means I am trading futures less now and typically use the TQQQ and UPRO ETF's instead, scaling in and out. When I do trade futures, I trade mostly the NQ and ES indexes and periodically write the CME requesting either a micro-mini version of those or a "split" of the value per contract.

    With Interactive Brokers, I was never very comfortable with their business model, which is, lots of active and leveraged traders of size, in the same boat, with dirt cheap equity margin also. If the market gets too stormy, the boat has a greater chance of going under, compared to a stodgy Broker like Fidelity (no futures though) or TDAmer/TOS. Yes, there are the commissions, product offerings and solid uptime/data and payouts at IB but those are no longer the driving force in my brokerage choice.

    This currency mini-crash is a small example of my larger fear at IB which yes, "probably" will not happen.

    So I was never very comfortable having much of my capital over there and combined with a recent reversion of their customer service back to "bad" (which indicates some kind of management problem to me), I am pulling the plug on all accounts there. GL.
     
    #42     Feb 16, 2015
    Snbmess likes this.
  3. InfoTech

    InfoTech

    Interactive Brokers does not give you 10 minutes to rectify a margin deficiency.

    Where did you get this idea?
     
    #43     Feb 16, 2015
    Snbmess likes this.
  4. d08

    d08

    Because that has been my experience over the years, it always happened exactly that way.
     
    #44     Feb 16, 2015
  5. InfoTech

    InfoTech

    Then you are either lucky, receiving preferential treatment by IB, or have an inaccurate memory.

    Interactive Brokers does not routinely allow a 10 minute grace period before starting auto-liquidation. To suggest otherwise is to promote a dangerous piece of misinformation.
     
    #45     Feb 19, 2015
  6. loyek590

    loyek590

    I hear ya, I think the class action comes in when they say, inspite of all the small print, ib has routinely auto liquidated me before my account ever went negative
     
    #46     Feb 19, 2015
  7. snbIB

    snbIB

    #47     Feb 19, 2015
  8. mikeman

    mikeman

    Yes, but my council is managing it.
     
    #48     Feb 19, 2015
  9. d08

    d08

    Go and search around ET, everyone who has experienced auto-liq describes given minutes to rectify the situation. There is nothing preferential in my situation and my memory isn't off as I've experienced auto-liq quite routinely.
     
    #49     Feb 20, 2015
  10. mikeman

    mikeman

    Why does the SNB get away with lying to everyone that they will use unlimited resources to protect the peg then out of the blue drop it?
     
    #50     Feb 20, 2015