Discussion in 'Retail Brokers' started by Port1385, Jun 12, 2008.
Choice E: Volume of clients. There are inevitably a percentage of people at every broker that whine, moan, and b*tch about everything. More clients ----> more whiners.
- they are the biggest broker for et users
- they are not big on customer service (fast, cheap, wide capability but not hand holders)
- they keep innovating and there are issues with elements of the service from time to time (but most of the bleating and whinging here is not in that category).
- all the newbies want to join them because they are so obvious then a proportion bleat when they have the natural learning problems
- all the fools join them too and, man, do they bleat loudly.
The funniest thing is that despite my disparagement of the fools when they get into the bleat spiral I get a lot of inquiries about IB (please don't ask me because I don't work for them and will ignore most pms).
Probably because their customer service is pathetic.
Unhelpful to the point where they act like they really couldn't give a damn about your problems.
Though if you're lucky enough to never need to speak to them they're a great broker.
They are the biggest and the best. All brokers have occassional problems and things happen. Even I complain about them sometimes, but it's pretty rare I can't trade and make money with them.
But if you look, about 95% of the "IB Bitch Threads" can be translated to read "I Did Something to Screw Up, but I'm Still Mad at IB..."
customer service issues imo. better than in the past, but still lagging.
It also depends on what you are trading. I hear alot of people gripe about forex executions. I don't trade forex, so I can't offer any comments. I mainly use IB for trading equity and index options, and from my point of view, IB is hands-down the best broker for my type of trading.
My vote, though, is for "Losing traders frustrated and have only IB to blame."
As kiwi said "they are the biggest broker for et users"
It's fun and predictable to point out the imperfections (which can be quite numerous depending on how, what and where you trade) and watch all the ET-IB evangelists defend their beloved broker. Bottom-line, it's a frickin broker, not the biggest, and not the best for every trader nor for every instrument.
I have been with many brokerages and honestly I have to say that IB ranks actually pretty good. The reps that I've talked to seemed to be very helpful.
IB tries to avoid complete newbie traders, and they offer a complete range of trading products. Many losers want to trade with IB but can't hack it many times. These losers are generally people who make a lot of noise. IB stays healthy avoiding these types of traders. It's utterly smart business practice. Kudos to IB!
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