Wow, this last outburst is so full of inaccuracies that it's beginning to seem like you actually do have some sort of agendum, as opposed to just being someone who, like me, feels compelled to speak up when you feel IB is being unfairly maligned. It feels a bit strange saying it for the 4th time in this thread, but once again, I have never said that IB would steal anything from their customers. I have said that if you screw up badly enough that IB has the legal right to take control of your accounts, you can expect them to make as much money off you as they legally can. Your suggestion that cynicism equates to immorality is pretty bizarre. I'll just have to assume it indicates confusion, and leave it alone. If you're cynical it probably means that you're more moral than most people, not less. The fact that you are just sticking your fingers in your ears and shouting about accusations of theft as opposed to dealing with the facts regarding my statements here (which have been very specific, dealing only with those situations where IB can legally take control of your account) is a bit of a letdown, after your high-on-the-horse pronouncements in this and other threads. Once again, I point out the difference between illegal and unethical. In this case your repeated imputations regarding my comments are clearly unethical, but not illegal. Lastly, I wasn't going to say this, but it was interesting that one of the most respected ET members chimed in confirming that IB has engaged in sharp business practice in the past. That basically shut the thread down, since most of you guys respect RM enough to keep quiet once he speaks.
Yeah the point of speaking in generalities is that it describes the majority of situations. In my experience, the majority of businesses will come up with any legal way possible to make money off you. That is a generality based on my experience. It is worth mentioning in this thread. That is my fucking point you twit. What are you having trouble with?
One last time, if you have a single fact regarding IB taking advantage of a customer by trading against their margin liquidation....please present it. By the way, I notice that you have managed to completely ignore the two posts by customers whose accounts have been liquidated, who actually had something factual to say about the situation. I guess it didn't fit in with your view eh? Facts evidently simply get in the way of your contentions. Perhaps you could address those two posts, one by Wayne Gibbous and one by Lobster, and explain to us how your worldview about business ethics is somehow superior to their fact based posts about their personal experiences regarding the exact type of situation that this thread is about. OldTrader
A "generality", IF true, may describe a majority of situation, but whether it describes any SPECIFIC situation is questionable. And that's what we're talking about here....a specific situation. So unless you have some type of FACT that links IB's situation to the generality, your :"fucking point", is completely irrelevant. Further, like I said before, even your generality is questionable in an ethical sense, which is what we're talking about here. But as I said in my last post, and which is even more clear after YOUR latest post, there is really no point to getting into a deep discussion with you about your "fucking point" since you have next to no respect for FACTS as illustrated here in this thread. By the way, if you do want to discuss some facts, perhaps you could address Wayne Gibbous post or Lobsters post where they explain their situation when there accounts were liquidated. I won't hold my breath though. What I expect from you is more of the same....generalities that have nothing to do with this SPECIFIC situation. OldTrader
Thank you for admitting that your earlier statement regarding my 'accusation of IB stealing from their customer accounts' was false. Contentions are exactly what I have been making in this thread. I have never suggested, in this thread or anywhere else, that IB steals money from its customers. My comments regarding the likelihood that IB will take full advantage of the situation if a customer screws up so badly that IB can legally take control of his account stands. In my opinion, this is a truism in business, and especially in the brokerage business. I have never claimed anything else in this thread, your hysterics notwithstanding. Since you're clearly an attack dog, I'll let you have the last word. I know you don't have the self control not to take it. That's how people like you 'win'. I think I may start calling you Old Yeller. Yeah, that's it... Old Yeller!!!
Let me correct you. I did not say any of my statements were false. Actually you claimed that IB would trade against their client on a margin liquidation. That equates to stealing. Perhaps you just don't like the way your words sound when they are summed up. LOL. That's your speed isn't it? When you don't have an argument, call someone a name. I notice that again, you have failed to address the two posts that discussed the exact margin liquidation circumstances, neither of whom thought they had been taken advantage of. Nope, easier just to call a name and move on. LOL. By the way, there is no "winning" here. That's what people like you do. You destroy by innuendo. No facts. Call a few names. Change the subject. LOL. All behind the anonymity of the internet. OldTrader
I never accused IB of doing anything illegal. I merely made a pertinent general statement. Frankly, I go into the game expecting that kind of crap from any broker. I am surprised there is really a question of whether or not it happens. These (meaning brokers/businesses in general) aren't a bunch of guys running around in white cowboy hats looking out for us. Do you think that they are? I can accept something at face value for what it is. I can accept that fact and carry on smartly. I am not saying IB is any worse than any other business out there.