gurzilla, Can you update us on what happened to your position? Was IB able to get to the bottom of it? Was it a virus on your computer, a mistake by IB's accounts department or an identity theft issue? Thanks, -kk70
IB refunded the transaction. No virus on my computer. No identity theft; IB was the only account I had a problem with. IB closed my account for good. However; they have not sent me my money!!! I will take my business elsewhere.
gurzilla, I think it's a good idea that IB has frozen your account - for your own protection. If all brokers froze accounts that traded a "pump and dump" stock, then it becomes easy to see who profitted from the scam and equally easy to take action against them by seizing their accounts. There is a greater possibility that victims will be refunded if all accounts that traded the manipulated stock are frozen and investigated. Also, installing a minimum time limit for wiring funds out and/or closing an account makes it difficult for crooks to quickly steal and disappear.
Can you really blame them? If you cant reliably secure your own PC you really shouldnt be trading, you're a liability to them just be glad they return the funds to you. Just being honest.
Jorge: Did you get an email explaining what happened? It would be nice to know why they felt they owed you the money on the bogus trade but elected to close your account. Did they tell you they were sending the account balance or do you have to request it? Jack
Someone used my retail account to trade as well a few years ago. I was not so mad due to that but that the person outperformed me by 7.8% for the period I followed along...
rather be stupid but safe than smart but poor. besides, windows is crap for the masses with no taste, cant blame u if u own it.
Very vague email from them stating they were returning everything to the way it was before the trades. They said they would send a check in about 40 days.