Interactive Brokers is horrible when you have a legitimate complaint. It is nearly impossible to get compensated for their mistakes since their general conditions state that they are never responsible for anything, even when they make a technical error.
They do not allow telephone calls to discuss a complaint. Everything has to be handled through the trouble ticket systems which allows them to avoid any questions they have no valid answer for. Dishonest is the word that comes to mind.
Execution is supposed to be their strong suit, but in my experience it has been disappointing. I subscribe to a newsletter and often others are already in the trade at the recommended price and I never get filled at the same price. I also noticed that an order that does not execute often does execute when I cancel and re-enter it. What is that about?
The TWS platform is a bit too complicated for my taste. I prefer the TDAmeritrade system (which they got through Think or Swim).
The Webtrader is not stable at all. I type in a bid and when I move to the next field, the price already has flopped to the ask instead of the price I want to pay. I have seen this happen several times. Often the value of the field changed back even before I finished typing.
The iPad app is nice, but prone to connection problems.
Prices are OK, but as my commissions are over 15k/year I'd still appreciate a discount but the website nor their call tree does not allow me to contact some sort of account manager.
This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
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