Unethical Conduct by IB

Discussion in 'Interactive Brokers' started by TRADERguy, Apr 27, 2006.

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  1. Buy1Sell2

    Buy1Sell2

    yes--it is very foolish to trade the cash. Unregulated etc. Anyone ever hear of Refco FX?
     
    #11     Apr 27, 2006
  2. I don't remember about the color but since the order disappeared and everything including the account window showed I was flat, I assumed it was canceled. I'll update everyone in a few hours after I study the audit trail.
     
    #12     Apr 27, 2006
  3. Looking forward to the update. Never had a problem like this at Oanda, but always afraid there will be a first time.
     
    #13     Apr 27, 2006
  4. Buy1Sell2

    Buy1Sell2

    It's just like on any busy day in any market--sometimes fills are not notified right away or cancellations are not notified right away. Just the nature of the beast. I suspect that the customer has no case. Globex computer much more forthcoming and timely.
     
    #14     Apr 27, 2006
  5. Bad assumption. You screwed up. This was your fault. You used TWS without knowing how to do so. If you don't see the red code, indicating cancellation of the order, you are not confirmed out, and you must take further steps to communicate with IB to status the order, to make sure the order is killed or to determine any open position you may have, and to manage that position until it is confirmed closed. Perhaps IB should be partly blamed for poor TWS documentation, which may have contributed to your lack of knowledge on how to use it and to your error on this trade.
     
    #15     Apr 27, 2006
  6. fhl

    fhl

    He simply said that he didn't remember, he didn't say that it was not red and he didn't respond accordingly/promptly. It is to early to tell if he screwed up.
     
    #16     Apr 27, 2006
  7. Buy1Sell2

    Buy1Sell2

    If he was using the system properly he would have known to look and would have remembered whether the signal and confirmation were given.
     
    #17     Apr 27, 2006
  8. Don't bother, JR is the local IB apologist, they can do no wrong and every complaint about them is unfounded (or posted by a competitor posing a customer).
     
    #18     Apr 27, 2006
  9. Xenia

    Xenia

    Probably a delayed execution report that was sent to your TWS at 10:38:23

    I think that you will find the time stamp for the fill somewhere in your audit trail.

    ( SecurityExchange= IBFX; ... TransactTime= 20060427-XX:XX:XX )
     
    #19     Apr 27, 2006
  10. Htrader

    Htrader Guest

    No its not his fault.

    I cancel dozens if not hundreds of orders during the day. I don't have time to manually check if each one gets the red code, which disappears after a few seconds anyways. As long as the order is removed from the TWS screen and there is no fill, the trader should be able to assume that the order is cancelled.

    Traderguy, try taking the problem to IB management. You have a legitimate case for a refund.
     
    #20     Apr 27, 2006
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