A few years back IB backed billed me a few hundred dollars for a 3 or four months ICE data fees. When ICE massively increased the fees. IB were slow in passing over the fee increase. I used the data during that time so i wasnt too bothered.
Looks like IB has removed the back billing charges for which I am very pleased. I am back to being a pleased customer.
Looks like IB has removed the back billing charges for which I am very pleased. I spoke to soon - they are not going to credit me back for the double billing or even speak to me about as I requested. I had overwhelming evidence clearly proving my case and received what looks like a generic email saying in so many words - "we are never wrong". I am Xfering most of $ out and keeping their data feed disabled.
It's not a lot - $48 - it's just the principal of it - and I do fine grain accounting on everything related to trading. There are 1 of 3 futures broker I use, they do save me about $750 annually over my next lowest priced broker so I will still use them. I figure as long as keep my data feeds shot off this won't happen again.
I don't know what happened to IB as I don't use them, but have you ever considered a scenario when the market reopens 10% lower because there are no bids? I was not trading during dot-com bubble but wasn't that essentially the case one day? Who cares VIX is low. There is so much dumb flow going to ETFs recently that everywhere you look at you have signs of melt-up/euphoria. So the higher it goes, at these levels you should brace yourself for a serious correction. The smart broker that wants to protect his own and his clients money thinks a couple of steps ahead. Like wise smart active managers will not participate in that rally regardless how low vix is and if there is 30-50% upside from here (who knows), even if that means losing clients that decide to pull out their $$$ in order to join winning (paper profit) ETFs for what is ultimately going to be (sooner or later) a top tick.
I definitely feel confident keeping my cash at IB, but shit, it gets really hard to properly implement a trading model when they choke off your buying power, when you most need it. My models adjust much slower than theirs do. Lol NO DAYTRADING DISCOUNTS