Missing money at IB

Discussion in 'Interactive Brokers' started by shneed, Sep 22, 2005.

  1. zdreg

    zdreg

    goodwill generated by you and def etc.
    cannot be quantified.
    suggestions for improvement in service would never reach ib if not for you guys forwarding input from ET posters.
     
    #51     Sep 23, 2005
  2. lol. a corporation doesn't like to bother with complaints and threatens to retaliate by providing even less customer support - and the response is to take it out on the guy that identified the problem?

    this assumes the facts are accurate as originally posted - and if they are not, as AAA rightly said it should be viewed as an opportunity to clear the record and even enhance reputation.
     
    #52     Sep 23, 2005
  3. tomcole

    tomcole

    Funny comment by the IB folks. I can't imagine what could be more important or warrant more attention from a broker than customer service and addressing customer issues/complaints etc.

    IB's acknowledgement that they ignore customers who complain publicly seems counter-intuitive. In many business, the squeaky wheel gets the grease, or oil, or maybe even rebates!

    I sure hope the original poster says how this was cleared up.
     
    #53     Sep 23, 2005
  4. I am a big fan of IB, but let me make a point here. When I first started with them in 1998, they had almost no help desk, problems with their trading platform and other assorted issues that were a royal pain. Of course, they also were the first to offer good commissions on emini products at a time that most other brokers were trying to rape their clients with the same commission schedule as the pit traded index products.

    Over the years, they have improved their attitude, but every so often I see this arrogance re-emerge. In general, there is just an insular type of attitude towards assisting clients. Def, in general, has been outstanding, but I think this latest episode is pretty despicable. As you say, AAA, this should provide an opportunity for IB to re-affirm its security safeguards, not to go on the defensive and say "hey we are bolting". If thats IB's attitude then so be it. If its not IB's attitude, then they sure as heck ought to do a better job of monitoring how and what their employees say on public forums. No flippant comments should be allowed in matters this serious.
     
    #54     Sep 23, 2005
  5. IBsoft

    IBsoft Interactive Brokers

    Madison, tomcole:

    Your most recent posts highlight one of the points I tried to make. Namely, that our presence here is taken by some as means to provide a customer support. That is not what we are here to do.

    Just think about it; I don't know who you are, what your account number is, or whether you even have an account. (You may be a competitor or a school kid having fun on the internet, for all I know - no offense intended). I don't know your recent activity, what TWS/API etc version you use, I have no access to your logs. I don't even know your real name! Some posters don't reveal their identity even when asked to do so through a PM.

    This is a free public forum. Anyone can join and post virtually anything they please. If your expectation is that your post/question/comment will be quickly followed by a timely and "customer support" kind of response, you will unfortunately be disappointed.

    I am dropping this subject, before this threads gets moved to Chit-chat. I hope we will soon get an update about the original problem.
     
    #55     Sep 23, 2005
  6. ktm

    ktm

    That's missing both points.

    First, IB has no obligation to be here. Posting here is NOT customer support, it is often appeasing someone who is upset in the middle of the night because of a perceived problem. Sure, these guys go out of their way to solve many problems and we are all the better for it but this is far from their real jobs and responsibility at IB.

    Second, the issue is not his alleged missing funds. It is that he creates the thread, posts the headline and makes the allegation that something is awry with IB. If he posts on the 27th page of this thread a single sentence that says it was a misunderstanding/technical error and the money is present, how many of the thousands who viewed the headline are going to drill down and read that? IB is here defending their corporate reputation, when in reality it should not have been called into question.
     
    #56     Sep 23, 2005
  7. tomcole

    tomcole

    Of course, this forum is NO place for any real customer service. IB I'm sure, has lots of phones, emails etc etc for this.

    My point was that I was surprised you would say a squeaky wheel gets ignored and you have other stuff to do besides listen to whiners. I have no idea who this guy is, I hope his money shows up and I am still hopeful someone posts what happened.

    Personally, I dont trade at IB, but like your platform. Threads like this only confuse people like me when the entire matter isnt put out in the open. I would think any financial institution would guard their reputation for integirty zealously and use platforms like ET to show how committed to their customers they are.
     
    #57     Sep 23, 2005
  8. ktm

    ktm

    The "entire matter" needs to be a real matter though, not a misperception. If money was disappearing from any number of accounts in that way, some of the thousands of us who use IB would be carpet bombing ET with threads. It's fine to have a public discussion, but let's make sure we have a real issue to discuss.
     
    #58     Sep 23, 2005
  9. No ones opinion is matters here. As IB-Soft rightfully stated "they ARE running the business". Until one day when , IB competition will figure out how to take some clients away from them, just like IB figured it out eight years ago. I remember the day I left Ameritrade , it was after a call to customer service(nasty answers , arrogance). I left them 10 days later and "letters from President" or "first 20 trades free" that they send me later for many months , did not helped to bring me back.
    Today , when gap between the "cheap" and "expensive" broker drastically shrank , the customer service becomes more and more important when one makes decision with who to trade. I was willing to take all this nasty staff when the difference in commission was 9$( a dollar instead of 10),but will not take this if the gap becomes 20 cents. Even more : I expect someone(maybe even IB) in the industry to come up with firm monthly amount for active traders , kind off "All you can trade" arrangement. Put a 60k person to handle 20-30 clients with firm 5k a month commissions and this will be his only job. Not a bad biz at all. Just a right biz decision , rest is all technicality , just a matter of time. Then you will see some changes , but until then I hope I'm not gonna have a need to call the customer service , I had my share of abuse already.
    IMO , IB-Soft and DEF are very nice and helpful , I just wish similar people would off run the customer help desk. But they are not.
     
    #59     Sep 23, 2005
  10. just21

    just21

    I am sending more money to IB. Working very well for me now. Just waiting for those Brent crude options.
     
    #60     Sep 23, 2005