New Reviewer

$3000+ debit when I closed account

I recently closed an account with UBC because nothing on the trade station had worked for a week. My balance was about $32000. Instead, UBC sent me a check for about $29000 and showed a debit of about $3000. I had not traded any positions in weeks and did not owe any money to UBC. When I did trade, I never held a position longer than one day. I never held a position overnight, and never over a weekend. I cannot access UBC because the account has been closed. For that reason I've filed a complaint with the US Securities & Exchange Commission and the US Attorney General in Washington, DC. To keep other Americans from experiencing this, my experience with UBC will be posted on YouTube Facebook and Twitter and a blog site I write. I assume you thought I would be easy to rip off because I was just a small trader. Wrong! I'm going to raise a *** storm like you won't believe.

User's recommendation: Avoid UBC like the plague.

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ID
#3413920 Review #3413920 is a subjective opinion of poster.
Loss
$3000
Preferred solution
Full refund
New Reviewer

I wish you call me on 041955****

I wish you to call meI can discuss my superannuation with you. Not resolved yet I dont need lawyer. I need you to send me my annual statement for july 2020 to july 2022 so I can do my return tax I mean July 2021
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ID
#3254172 Review #3254172 is a subjective opinion of poster.
Location
St Kilda, Victoria
New Reviewer

Help with account

I need to understand my margin account. I just need help with my margin account. I keep getting messages that they might sell my account if the funds are too low.
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ID
#3233696 Review #3233696 is a subjective opinion of poster.
Location
Los Angeles, California

First call to them got disconnected by them

Starting new account and unable to even speak with them about it. Not a confidence builder by any means
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ID
#3120691 Review #3120691 is a subjective opinion of poster.
Location
Destin, Florida
New Reviewer

Acccount funding

Well my issue is that I found the agents to be knowledgeable and helpful with each area of need ... they walk me through the process and were patient when they needed to be... also they were glad to assist you can tell in their voice as well... over all I was able to get my issues resolve ..Thank You IBKRS Like

User's recommendation: Keep on training don't let bad apples get you in the RED...

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ID
#2687068 Review #2687068 is a subjective opinion of poster.
Preferred solution
Deliver product or service ordered
New Reviewer

Acccount funding

Like to get approval for my account it's been a week since I last talk to a sales person I haven't receive any fee back.. ha

User's recommendation: no respond yet.

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ID
#2666807 Review #2666807 is a subjective opinion of poster.
Pros
  • You are the best in the brokerage business
Cons
  • Not fast enough to approve accounts
Preferred solution
Deliver product or service ordered
New Reviewer

IBKR totally sucks!

Ive been trying for over a week to withdraw funds and just spent an hour on phone with zero success.

User's recommendation: Go to a real brokerage house!

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ID
#2576400 Review #2576400 is a subjective opinion of poster.
Preferred solution
Full refund

Poor Connectivity and Outdated Security Policies

Connection to Interactive Broker Account Management site ALWAYS disconnect. Can't even have a stable connection to send a ticket to the message center or even to get live chat with their support. What's frustrating. They are NOT DOING ANYTHING ABOUT IT. Claiming that the IP address changes. As I am using mobile internet services via 3G/4G, IP address does change and its NORMAL. They require customer to have static IP which is not a norm these days as IP address has already ran out in our region. Feedback to them is a PAIN and they are not listening or acting to solve a problem. This problem has been feed back to them since two years ago and NOTHING WAS DONE.
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ID
#372502 Review #372502 is a subjective opinion of poster.
Location
Singapore, Singapore
New Reviewer

Interactive Brokers -- you pay for clunky service

This company boasts the lowest trading costs, but you end up with a very user-unfriendly log-in system and unresponsive customer services. One one occasion I lost $3000 b/c they could not cancel a trade that I had placed through them. They also have hidden fees: for instance, a $10/mo fee is charged for inactivity. It is very cumbersome to deal with account services. Need a unwieldy electronic device to log-in. Stay away; there are so many better electronic brokerages around these days. It took a latter to their CEO's office to get them to refund part of a fee they chaeged when I exited their services.
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3 comments
#527649

No possibility to complaint with Interactive brokers Asia

Due to instability of Interactive Brokers systems and incompetence of "Salvatore Recco", I lost lot of money. I could have recovered it with a competent and professional broker. But Salvatore Recco was slow, not polite, unprofessional and giving lame excuses .

0/you will notice that IB asia has no independent complaint officer( in fact the manager but he wont bother to answer). If any problems happens, especially a senior IB staff is incompetent, you could not complain.No one is checking what they are doing in Asia, so manipulations of the records/transactions and wrong doing can be done by their staffs in Asia.

1/ zero transparency: you wont get any records ( transaction, transcripts,...) even with a lawyer. "Salvatore Recco" is blocking our access to any records because he make the mistakes.

2/ you will not be able to speak or see face to face, "Salvatore Recco"or a manager or a complaint officer in Hong Kong or Asia. They will just hide and send you a small potato guy. they told different things that Salvatore Recco said.

3/ even spending money with a lawyer wont be helful as they will hide and refer you to a US complaint or any virtual manager in other continents.

4/ their methods in order that you give up your complaints, its their complaints tickets systems, for sure it will take many months/ years. They will tell you that they will get back to you within few days but instead give you lame excuses few month later. By that times all records could be modified by IB.

5/they have many others tricks so be careful, they can make you push to accept new rules at same time when you later login,...

6/ they are not going to compensate you for their staffs mistakes for sure! Because They do not have any compensation fund aside in Asia !

I wonder how can a broker operates without transparency!

I discover on internet others complaints about ""Salvatore Recco", if you have any problems with him or IB, please help me.

I will appreciate if someone can help me because "Salvatore Recco" is blocking our complaint as he was the one involved and possibly make a big money in my back!

#204259

I think you're very wrong about Interactive Brokers. It's the best broker out there for active traders.

The sign in device is for security, and I welcome it. The 10 dollars is for data, they do have the best data feed out there, even better than paid charting packages data feed, so if you don't generate commissions, then you pay for the data.

#662511
@PissedConsumer204259

I have an IB account. Even if delete all data (as I did when I went for holidays) IB will still charge USD10 for inactive accounts that is USD 10 inactivity fee unless you generate trade more than USD 10. For instance if you generate only USD 7.50, then u are charge USD 2.50.

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ID
#192461 Review #192461 is a subjective opinion of poster.
Location
Boston, Massachusetts
Loss
$3000

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