Dear Trader friends, Dear Mr. Thomas Peterffy, Chairman of Interactive Brokers LLC, I am reporting a very bad experience with an IB¡¯ customer support person in New Accounts Department, Interactive Brokers, Canada as following: On March 19, 2007: I submitted an online application to opening a new account with IB. On March 19, 2007: I setup the EFT instruction for funding. On March 24, 2007: I mailed all documents to IB except the $1 check. On March 26, 2007: I deposited US$8,000 into my account with the EFT instruction. On March 29, 2007: I send an email to IB for requesting to waive the $1 check because I have deposited the fund US$8,000 in my account with EFT instruction. The EFT instruction should be more powerful than the $1 check. On April 03, 2007: IB rejected/closed my account due to the $1 check even though the fund US$8,000 is still in my IB account. On April 04, 2007: IB emailed me that ¡°IB is not the broker for you and you would be better served elsewhere¡±. Dear Trader friends, IB is very happy to reject/close my account in short time. This means that IB does not really care their customers. I and my clients have had more than ten accounts with IB. Could you advice me that I should close all accounts and go elsewhere? Could you recommend some better brokers? Dear Mr. Thomas Peterffy, Chairman of Interactive Brokers LLC, I am expecting that IB can improve your customer support services. IB¡¯s customers should be IB¡¯s first priority. Your customer support person should try their best to help IB¡¯s customers to open/keep accounts, rather than reject/close accounts. If you feel that the IB¡¯ customer support person in New Accounts Department, Interactive Brokers, Canada is not qualify, you should fire him immediately because IB¡¯ customers will not like the person to service them. If you also think ¡°IB is not the broker for you and you would be better served elsewhere¡±, I will have to close all accounts and find another broker. Thank you very much! HappyFXTrader
Based on what you have written here, I think probably IB is correct in suggesting that you would be better served elsewhere.
Why didn't you just send the $1 check like they requested? Close your accounts and go elsewhere. I'm sure that will show them!
I suspect that there is something missing here that you decided not to share, I'm guessing you sent them an irrate email or otherwise acted unprofessionally and they decided that they didn't want you as a customer. What aren't you telling us?
In daytrading business you will lose 10s or 100s of dollars due to technical issues every month depend your account size, and they happen over and over again But that $1 won't happen very often and IB has right to turn away crybabies as tradestation and others doing....afaik I had your problem while ago, but IB is a huge and successful business and i'm sure they are willing to take you back if you nicely make a request again
HappyFX: I wouldn't want you as a customer either. Nothing worse than whining complainers! Go and be happy elsewhere.
I thought he had a bad experience. this is merely admission of rejection.... If you dont play by their rules, then you dont get their benefits. Boring..... Time to go play ball....
HappyFxTracer, I am sorry that you had problems with IB bad customer service. IB has a bad reputation about their customer service and has many complaints. You can read about them here. http://www.elitetrader.com/br/?action=view&R_FirmID=43 You can also post your bad experience about IB on the link and share your bad experience with everybody. http://www.elitetrader.com/br/?action=view&R_FirmID=43 P.S. I never did like IB. Their customer service treated me very poorly also. So I quit them.
A lot of truth in that statement. There's no point in staying with an organization that treats its CLIENTS like shit. JJ