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Interactive brokers options app

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interactive brokers options app

Great margins but terrible customer service. I'll continue to use them though because of the savings. I get paid in USD, but am living in Canada, so need to exchange decent chunks of CAD to USD to pay taxes and expenses.

I did a lot of research, and found that the spread charged by IB is extremely small relative to most other choices. What's annoying though is that they have a ridiculous holding time if the bank transferring IN the money is different the bank that you are transferring the money too which I'm guessing will be the case for most forex conversions What's worse is the first few months I was a customer, they never enforced this holding options so I wasn't even aware of it, and acted accordingly.

Then spontaneously, they started enforcing it. So I had a lot of USD that I had converted to CAD that was just sitting there. Meanwhile the CAD was plummeting I think it went from like 1. If I was aware of this holding period, I would've made the conversion at the very last minute for hedging purposes I was using the money on a transaction that would be based on the current exchange rate.

To avoid this wait, be sure to wire the money instead of EFT Customer support is horrible. There is only once when a supervisor in Shanghai responded to me in a professional way. All other occasion, horrible. I think it is their call center in Chicago Very poor customer service! Just spent over an hour on the phone trying to connect to technical support so I can login to my account. From the response I got from them, seems this is rather typical.

They are bonafide horrible in that regard. The wait times to talk to a customer service representative are extensive no-mater what time of the day or night you try to reach them. If you do try to reach them after market hours, you will be talking to a rep in India in a boiler room. For example, I once helped a client open an account at IB.

A mistake was made by App in the setting up of the permissions for trading the various markets of which IB charges fees for the data unlike any of the rest of the big names. By the way, the only way I could request the credit in the first place was by sending them an email, and then waiting about 3 weeks for a response.

They would not discuss the subject of erroneous fee reversals over the phone. I was amazed at the pettiness of IB. You will not run into issues getting a hold of a representative that knows what they are doing. IB has idiots options no common sense dealing with customers. Also IB charges a lot of fees, and in many cases will cost you more in commission than options rest.

Additionally, IB is a nickel and dime firm when it comes to charging many many fees. They charge individual fees for everything. For example, IB charges inactivity fees if a client doesn't trade enough. It charges for each and every piece of market data, unlike the options. IB has a trading platform that is not state of the art like Think or Swim at TD Ameritrade.

IB even charges for an ACH withdrawal if you try to do app more than once per month. When you need assistance expect to be on hold for at least 45 minutes. Especially frustrating is when I had to wait on hold for over 45 minutes to talk to the margin department.

At most firms that department is readily accessible due to brokers often time critical nature of margin issues. The firm is petty in dealing with customer issues. They lost me and a number of my clients because of their way of doing business. Amazing that these guys run a business. I guess anyone who spends all the time doing the application and compliance requirements, is too far in to switch to another broker afterwards.

I think the low commissions are achieved by hiring people you can barely understand as support. And that is when they do get back to you. What the hell is the deal with all the poor reviews? This broker is amazing. It is the best broker that I've ever used. Yes, I know what I'm doing, and I have the funds for portfolio margin privileges. If you need hand-holding, go with a different broker. I've used Scottrade, Fidelity, ETrade, OptionsHouse, TradeMonster, and a few others.

IB is by far the best. Best platform, best commissions. The platform is awesome. TWS is extremely powerful. The brokers rate 1. I honestly can't believe how cheap that is. When I'm using IB TWS, I feel like I am empowered to take whatever position, in any security type I want. Someone here complained about the "poorly documented API". What the heck is wrong with you? Their API documentation is FANTASTIC. I've used other brokers APIs, and they have been riddled with errors, omissions, and inconsistencies Yes, OptionsHouse, I'm looking at YOU!

I literally had a java app up and running, and doing what I want, after only about 6 hours of coding and referring to the TWS API.

Sorry but I had to write this rant after coming across this Yelp page and seeing all the poor reviews. They are without merit. Dealing with Interactive Brokers was an infuriating experience and a huge waste of my time and energy. They started by making several unfulfilled promises--such as once my account was opened and they received cash wired into my account, I would be able to trade immediately. It took 24 app after receiving my cash until I could place a trade.

And there were hours spent on hold to get an explanation. Then I read something they reportedly did to a bunch of their customers a month ago: There's zero outside risk other than the contract becoming worthless; I'm not writing a contract, but buying one!

When I called, IB insisted that this was an exchange requirement, and went into all kinds of explanation about how there is unlimited risk in buying a put on a future because of performance bond requirements. However, the risk department at the CME told me that they must be confusing the risk of selling contracts with that of buying contracts. That's what I had thought as well. It's also clear as day in the CME options on futures brochure, which says no performance-bond requirements for buying puts.

I confronted IB with all of this, and their attitude was basically--well if it's not an exchange rule like we claimed previously--too bad, that's our policy. I asked how they possibly expect to keep futures options customers with this policy, and they had no answer. They later acknowledged in follow-up calls that maybe the exchange doesn't in fact options this, but they don't appear to care.

Two different people at the risk department in the CME suspected the same as I did--that perhaps IB mixed up buying options with selling them? I just don't understand how a major brokerage could be so utterly clueless to do that. I don't understand why anyone would buy options using IB with a cash on hand requirement like this, assuming other firms don't do the same. The only reason I could think brokers is that maybe it's in order to drive away customers.

A reason they might want to do this in an underhanded fashion is that reportedly they disabling futures options trading without notice about a month ago for an entire week. I can't imagine they didn't put themselves at tremendous financial liability for people who couldn't trade and weren't given time to get out of IB.

The customer service of IB is the worst amongst all the brokers I have dealt in the past 30 years. I have been with them options about 3 years now. In the beginning, the customer service was as good as any other broker; however, now it is the worst. The wait time to get to someone either through the phone or chat may take over 45 minutes. This has become the norm for the past year. Furthermore, their transaction cost is much much greater than any discount brokers. Holy Jesus cow, can IB's costumer service be worse???!

I was thinking about transfer my account from scottrade to IB, but the costumer service people in IB must be hating their lives, I CAN NOT understand how they run business in U. I agree with all the good and bad reviews previously posted. Customer service, online help, account setup are ALL horrid.

However, their prices are low. If you are a professional with lots of expensive trades, all-day to work over a problem, other sources of quality options, or use the poorly documented API. For the average investor FORGET IT! Especially if you trade mutual funds.

I've used IB on and off for 5 years, hoping that their customer service would improve. You can wait on the phone for 5 to 10 minutes every time you call in regarding a simple question. Rarely can they answer a question, so you are pushed off to another department where you wait another 5 to 10 minutes on hold. There people are so unwilling to help and are so uneducated about interactive about every possible issue that you have.

They rarely will wire your money when they say they will. I have a current situation in which I finally closed my account and they have cost me 's of dollars in overdraft charges because they didn't send the money when they have told me they would, on two different occasions. What good is an online trading site that does NOT allow you to trade? Everything was working fine until about two weeks ago. I am ok with the bad customer service, the overly complicated website, and the cumbersome "dual authentication" that they choose to use.

I can live with that. But about two weeks ago, their Quick Trade feature was disabled. What that means is that you can either 1 use their Webtrader or 2 use their TWS to trade stocks. No big deal right? First I am unable to login to Webtrader. It just flat out does not accept my login credentials. Ok, so I tried TWS, an old java based system that interactive me to first install JAVA on my machine. Did that and the TWS system just hangs after login. So basically I cannot access any of their tools that would allow me to trade.

Interactive Brokers does a lot of things right. This is overwhelmed by how horrible their margin desk is. Their TWS software showed three wildly different "maintenance margin" values for a particular contract within 24 hours. When I was on the phone with them, they couldn't even tell me what the maintenance margin should be. Then I find out app for IRA accounts, maintenance margin means nothing and they assess based on initial margin every day. So I'm sure their detailed website says that somewhere Finally, they think it's reasonable that they send a margin notice via email at 5: Yea, that's really useful I'll start by saying that the ONLY reason I'm with IB is because there's only 2 companies that would allow me to trade, professionally, with my current AUM.

The other one is substantially more expensive. Yes, the platform sucks and is interactive intuitive, it requires a huge learning curve, you will be filled with frustration months and months after the start of trading. Dealing with your clients' accounts is a pain too; the Model Portfolios are super glitchy and yes, they nickel and dime you about everything. Customer service is terrible too when they reply, it's usually several days later and still without an answer.

As professionals, we require to have Real Time quoates, but if you're a retail client, don't think you can avoid signing up for additional fees, like real time quotes The platform is useless without it. So, the Question is, How much worth it is the super low fees and Margin rates?

But, everything else was included, including all the Real Time quotes, even Level II and Customer service was Phenomenal! Not so with IB. So, if you want peace of mind for just a few bucks more, don't go with IB. As soon as my AUM go up, I'm leaving. Low trading rates except for high volume orders. They nickel-and-dime you with fees for quotes, withdrawals, etc.

Daily exposure fee is interactive. They are quick to liquidate positions to meet margin calls but they can't liquidate fast enough to prevent themselves from losses that they can't recoup? Brokers fees go down if you buy more stock and they go up if you sell stock. They are scamming their customers. Other brokers don't charge exposure fees. Liquidation preferences don't work properly. During margin calls, IB liquidated positions that were set to liquidate last and did not liquidate positions without that designation.

IB allows customers to build positions that result in large negative liquidity after the market closes. Then IB liquidates the newly-created position to itself at very poor prices when the market opens.

The games they play by giving you too much margin, then taking it away, will result in losses greater than any savings that you get from lower commissions and interest. The primary goal of customer service is to give you attitude so you never call back or leave on your own. Interactive Brokers is excellent if you know what you are doing.

Great fee structure, breadth and depth of products available, execution, margin facilities, etc. However, it's meant for professional traders, hedge funds and other institutions. So there is a learning curve, but it's worth it. As an individual trader, I have had a great experience with the firm. The dual authentication system protects your money, so ignore the fools who complain about it. I have had a positive experience with customer brokers and have been with the firm for over five years.

I have never visited a branch location, so I cannot speak interactive the in-person experience, but by phone, they have been great. Ignore the fools who have ranked Interactive Brokers poorly.

IB is excellent if you know what you are doing. Overall great service, the smart phone app trading works great as well. Interactive Brokers Unclaimed This business has not yet been claimed by the owner or a representative. Claim this business to view business statistics, receive messages from prospective customers, and respond to reviews. Here is a HUGE HUGE difference maker. Bottom line, very efficient as long as you do not need to talk to anyone.

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IB TWS Updates for the iPhone®

IB TWS Updates for the iPhone® interactive brokers options app

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