It seems to me that there should be a difference between getting your futures liquidated on stock quotes that are "lousy and irrational", and getting your futures liquidated on stock quotes that the exchanges later say were "illegit and therefor busted". On the former, the trader is out of luck, on the latter, I don't really think the trader should be out of luck.
anyone liquidated at a busted price would get their shares back futures were not busted, thus, no refund less margin is your friend
That is scary I don't trade through them just because there are much better futures only deals. Thanks for heads up.
Please note that if things ever really got bad, I suspect that IB would be the very last broker to go down. I trust Ib's risk management systems more than any bank's or the federal reserve for that matter. Not sure what heads up you guys are talking about.
Another one of these, I cant help but to laugh. Why dont you tell that to the S&P who rates IB BBB+(two notches above junk)? The same guys who routinely over rated everything from CDOs to Gov debt think IB is almost junk
Keep the money in a way that the SPIC guarantees it(up to $100k in cash and $500K in securities IIRC). But the issue here is not IB failing and costing you money, is IB failing you and costing you a ton
If I have a million dollar account to trade futures and currencies, which broker do you suggest I use?
You are missing the point go back to the first post. Their risk mngt is so tight on days like last Thursday you very may well have gotten hosed when you should not have. I don't put much faith in any US based ratings agencies, but that's a whole other thing.