Complaints

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

• Initial Complaint

  Date:09/11/2025

  Type:Customer Service Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Hello, I originally created my account in the US, and then moved to ****** in 2021. During that time, I deposited funds from my ******** bank accounts (mostly ***, ***, and ***) without issue, but recently I got a message saying that, after a compliance review, it was decided to close my account. When I inquired about it, they said the decision was taken by IBKR management and that it was irrevocable. I am thinking that it may be due to the fact that I forgot to update my address with IBKR after I moved to ******, but I just don't understand why no one from IBKR tried to contact me before deciding to close my account. I could have explained that I moved to ****** and forgot to update my address, which is why I suddenly started depositing funds in other currencies. I think the closure decision was based off a simple misunderstanding of my situation, but they refuse to reconsider their decision. Is there anything that can be done?

  Business Response

  Date: 09/22/2025

  Dear *** ********,
  
  Interactive Brokers LLC ("IBKR") is responding to
  your correspondence to Better Business Bureau (“BBB”). In your correspondence,
  you stated that you received a communication from IBKR in which a decision was
  determined to close your account based on a compliance review. In addition,
  when you contacted IBKR regarding this matter, you were informed that no additional
  information could be provided about this decision and that it is irrevocable.
  
  IBKR operates in a highly regulated environment and may
  determine to cease providing services to any clients for a variety of reasons.
  IBKR is not obligated to provide you with brokerage services nor additional
  details surrounding its determination to close accounts.
  
  Furthermore, upon signing the IBKR application you agreed
  to the IBKR Client Agreement in which Section 50 states in part that "IBKR
  may terminate this Agreement or its services to a client at any time."
  
  While we understand that IBKR's decision to close your
  account may not be to your satisfaction, it is final
  
  Regards,
  Krishna                                                             
  IBKR Client Services

  Customer Answer

  Date: 09/22/2025

  
  
  Complaint: ********
  
  
  
  I am rejecting this response because: They did not address my fundamental complaint. They basically just continued insisting that my account closure was somehow justified without providing any kind of reasoning or justification.
  
  
  
  Sincerely,
  
  
  
  ******* ********

• Initial Complaint

  Date:07/24/2025

  Type:Facilities Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I am writing to formally raise a complaint regarding the unexplained compliance review on my account, which began on July 23, as well as the many misleading responses that I've received from Client Services.
  
  On July 23, I discovered that I was unable to place any trades, or transfer the funds in any of my accounts. When I called to inquire why I can not open new positions, I was told that it is due to a negative deficit in one of my accounts, and as long as I transferred funds to correct that balance, I should be able to be able to place trades.
  
  I then called again, as each of my internal transfers to correct the issue were rejected. I was told that those funds are not available for transfers to other accounts until August 1st, but I can withdraw to the originating bank. I was also told that I can open a new account.
  
  I submitted a withdrawal from the frozen account, opened two new accounts, deposited funds, and was able to place trades and transfer between those accounts.
  
  Today, July 24, my withdrawal is still on hold, and the newly opened accounts are now frozen too. I called again, and only now have they informed me that my accounts are under a Compliance Review from a backend team. They claim that there is no way to contact this team, and are unable to provide me with any timeline on when I can access my funds.
  
  The only notice I received was to verify my identity, and to verify my withdrawal. Both of which I completely promptly on July 23.
  
  It is unacceptable to me that I received no notice or explanation of this review, or any notice on what type of restrictions would be placed on my account. Not only has this situation led to me missing out on potential income opportunities, but due to their many misleading responses, they let me deposit even more money that I am now unable to access. I am not in a position where I can just let IBKR hold thousands of dollars from me indefinitely. This situation will significantly add stress to my financial situation.

  Business Response

  Date: 08/06/2025

  Dear *** ***
  
  Interactive Brokers ("IBKR") is responding to
  your correspondence to the Better Business Bureau ("BBB") submitted
  on July 24, 2025. In the correspondence you state you are requesting an
  explanation of why there was a compliance review and a release of the hold on
  your account. Upon receipt of your correspondence, the IBKR Complaints
  Department reviewed the facts and circumstances surrounding your complaint and
  provides the following response.
  
  Broker-dealers, like IBKR, are highly regulated entities
  and as such are required to comply with local regulations. As part of its
  regulatory obligations, IBKR periodically reviews account information and
  activity transacting through its system. During this review, all pending and
  future withdrawals, deposits, logins, transfers, etc. are restricted.
  
  On July 18, 2025 you made two deposits by Request for
  Payment (RFP).  RFP deposits are
  available immediately and a withdrawal back to the originating bank account
  does not have a hold period. For withdrawals to a different bank account there
  is a 10 business day hold period.
  
  On July 31, 2025 your withdrawal was completed.
  
  Based on the above, it appears that IBKR's actions with
  respect to your account activity were in accordance with IBKR's standard
  policies and procedures.
  
  Regards,
  Ayana
  Interactive Brokers

  Customer Answer

  Date: 08/06/2025

  
  
  ********** ********
  
  
  
  I am rejecting this response because:

  While I did receive my withdrawal, my IBKR account is still restricted from making new deposits, or opening new positions, pending the compliance review. I have still not received any indication of when these restrictions will be lifted, or when I will be able to access and use my IBKR account normally.
  
  
  
  Sincerely,
  
  
  
  ***** ***

  Business Response

  Date: 08/18/2025

  Dear *** ***
  
  Interactive Brokers ("IBKR") is responding to
  your follow-up correspondence to the Better Business Bureau ("BBB")
  submitted on August 7, 2025. In the correspondence you state you received your
  withdrawal but your account is still restricted. The compliance review was
  completed on July 25, 2025 and the account unfrozen.
  
  Regards,
  Ayana
  Interactive Brokers

• Initial Complaint

  Date:07/24/2025

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  This all took place on Interactive Brokers (IBKR) trading platform. If you are unfamiliar with this industry it's a website where a customer can deposit cash into IBKR's website and you can then use that cash to buy stocks, options, bonds, etc. for a fee. Moving forward, on 7/16/2025 I placed a buy order (open) trade for a certian asset called ******** (***) at a specific price. The buy order was rejected immediately several times and it was later determined that it was a technical issue on their end specific to my account. So in other words they had the ability to to honor the trade on their end and transfer the position into my account but they have not, they haven't even fixed the issue that would not let me trade nor has management even simply called me back after several requests to do so. Im writing this complaint because of this company's shady business practices and awful customer service. When you're dealing with people's money there needs to be a certain level of customer service. Ive uploading screen shot of correspondence between IBKR and I, that should give you a little more detail on the matter. If you need more info feel free to get back to me via phone or email. Thanks

  Business Response

  Date: 08/07/2025

  Dear *** *****
  
  Interactive Brokers LLC (“IBKR”) is responding to your
  correspondence to the Better Business Bureau (“BBB”) submitted on July 23,
  2025. In the correspondence you state that you tried placing several buy orders
  for ******** (***) and all orders were rejected. Upon receipt of your
  correspondence, the IBKR Complaints Department reviewed the facts and
  circumstances surrounding your complaint and provides the following response.
  
  IBKR partners with third party ************** ******* ********* (“****** ********”) that provide you with the ability to open
  accounts and place ************** orders with the ****** ********, either
  through the IBKR platform or by using the ****** ********'s web app. IBKR acts
  as your cashiering agent for ************** product transactions and does not
  have custody or control over the ************** assets held in your account at
  your ****** ********.
  
  Your ****** ******** is ***** ***** ******* (“*****”). 
  
  IBKR noted the following activity:
  
  On July 16, 2025
  At 20:00:01 ET –
  A Buy Limit order for 18 units of *** at the limit price of
  3,372.5 was submitted. (Order 1)
  Order 1 was rejected with the message ‘Order rejected - if
  executed, your order would cause your crypto account(s) to exceed the lesser
  of: 30% of your total account equity across your brokerage and crypto
  account(s); and USD 3 million.’
  
  In accordance with regulatory expectations, IBKR has caps
  on the amount of ************** trading you can do through the IBKR platform
  relative to your non-************** activity.
  
  At 20:01:05 ET –
  A Buy Limit order for 9 units of *** at the limit price of
  3,373.70 was submitted. (Order 2)
  Order 2 was cancelled with the message ‘Invalid order’.
  
  At 20:02:05 ET –
  A Buy Limit order for 9 units of *** at the limit price of
  3,370 was submitted. (Order 3)
  Order 3 was cancelled with the reason ‘Invalid order’.
  
  On July 17, 2025
  At 00:01:35 ET –
  A Buy Market order for *** with cash order qty of 16654 was
  submitted. (Order 4)
  Order 4 was cancelled with the reason ‘Invalid order’.
  
  At 00:03:19 ET –
  Buy Limit order for 2 units of *** at the limit price of
  3,330 was submitted. (Order 5)
  Order 5 was cancelled with the reason ‘Invalid order’.
  
  At 22:09:28 ET – an execution for 10 contracts of ******** ******* **** * at the price of 163.8 was received.
  
  At 22:25:12 ET –
  A Sell Market order for 8 contracts of ******** ******* **** * was submitted. (Order 6)
  Order 6 received an execution at the price of 141.
  
  After reviewing the orders for which you received the
  message “Invalid Order”, IBKR found that a formatting issue on the order
  messages sent to ***** resulted in the orders not being accepted by ***** for
  execution. This issue should now be resolved.
  
  IBKR's top priority is to maintain a reliable trading
  platform and IBKR devotes substantial resources to maintain a platform with one
  of the best performance records in the industry. However, technology, even with
  redundancies, can fail from time to time due to factors that are difficult to anticipate
  or control. As you acknowledged in the IBKR Client Agreement, the IBKR system
  entails risks and IBKR is not liable for losses caused by System Failure.
  
  IBKR has thoroughly analyzed your claim, examined the
  relevant trading records and correspondence and reviewed the audit trails
  associated with the orders in question. The orders in question were to open
  positions, and IBKR unfortunately cannot offer considerations for opportunity
  loss. This includes orders to open new positions which execute at a less
  advantageous price, or a dispute regarding the price that could have been
  received on a potential trade in hindsight. These are examples of profits
  forgone as opposed to an actual sustained losses.
  
  Based on the above, it appears that IBKR's actions with
  respect to your account activity were in accordance with IBKR's standard
  policies and procedures. Therefore, IBKR will not grant your request for
  compensation.
  
  
  Regards,
  Ayana
  Interactive Brokers
  

• Initial Complaint

  Date:07/17/2025

  Type:Customer Service Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Untransparent and unhelpful communication
  
  I have been trying to transfer my assets. My goal is straightforward: to find a clear way to do that. Yet, the Interactive Brokers team remains vague: "You will be provided with the necessary steps to complete that transfer." But the team seems to ignore:
  1. The question itself, which is WHAT THE STEPS ARE. Is this a secret? If so, why?
  2. I have repeatedly asked about a joint account, but I only get generic and passive-aggressive answers that have no answer on that.
  
  It is an especially a strange answer, given that the rules seem to prevent transfer offered. It is terrible service to waste client's time with ambiguity like this.

  Business Response

  Date: 07/29/2025

  Dear **** ********,
  
  Interactive Brokers LLC("IBKR") is responding
  to your correspondence to the Better Business Bureau ("BBB"). In your
  correspondence you expressed your dissatisfaction over the lack of support and
  clear solutions for transferring your assets to your IBKR account.
  
  A review of your account activity indicates the
  following:
  
  On July 16, 2025, at 11:57:55 ET you contacted IBKR
  through secure message center on ticket ******, regarding transferring assets
  from your ******** account. You explained your intention to gift assets to your
  mother but found this wasn't possible through IBKR. Therein, you requested
  assistance on further steps to transfer positions to both beneficiaries.
  
  On the same day at 16:14:19 ET, IBKR informed you that
  ******** participates in *****, which transfers positions between like accounts
  only and transfers between two separate individuals is not permitted. IBKR
  instructed you to transfer positions from your ******** account to your IBKR
  account. Afterward, you could submit a separate ticket to transfer assets from
  your IBKR account to your mother's IBKR account, at which point we would
  provide further instructions. When you expressed concern about transferring to
  your mother's account, IBKR explained that transfers between non-like accounts
  require manual review and processing.
  
  On July 17, 2025, IBKR provided detailed information
  about the manual transfer process and explained the process to transfer
  positions to joint account.
  
  Throughout this communication, our representative
  provided you with information about IBKR's policies and procedures regarding
  transfers between accounts, offered multiple solutions to address your needs,
  and directly answered your specific questions about the process.
  
  Based on the above, it appears IBKR's actions with
  respect to your account activity were in accordance with our standard policies
  and procedures as set forth on the IBKR website and customer agreement.
  
  Regards,
  Krishna
  IBKR Client Services

• Initial Complaint

  Date:07/16/2025

  Type:Facilities Issues
  Status:

  UnresolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I am writing to file a formal complaint regarding an unresolved issue between Interactive Brokers (IBKR) and ******* that has persisted for over three months, involving the transfer and correction of cost basis data for 159 shares of ****** (****) stock.
  
  Issue Summary:
  On December 30, 2024, I transferred 518 shares of **** from ******* to IBKR. On April 7, 2025, due to a mistake, 159 of those shares were submitted to IBKR as a short position, which triggered an automatic closing transaction. Although IBKR used the correct original **** cost basis ($91.76 and $110.36 per share) to calculate the gain, they recorded the cost basis as $0, creating a discrepancy in my account and a potential risk of future double taxation.
  
  Efforts Made:
  Since early April 2025, I have contacted both IBKR and ****** numerous times to correct the cost basis. ****** has stated multiple times that they resent the correct cost basis to IBKR, or that IBKR should provide it directly. IBKR, on the other hand, claims they received the cost basis as $0 and refuse to make any updates. Neither firm takes responsibility, and I have been repeatedly redirected between them without resolution.
  
  Unacceptable Behavior:
  Despite continued efforts over three months, both firms failed to resolve the issue. Most concerningly, both firms ultimately closed my support cases without any notice, even though the issue remains unresolved. I had no opportunity to respond or escalate.
  
  Current Impact:
  This mishandling of cost basis data could result in incorrect tax reporting, duplicate gains, or audit risk. I have provided clear documentation of the original cost basis, yet neither firm is willing to take action.
  
  I appreciate your help in facilitating a resolution to this matter.

  Business Response

  Date: 09/10/2025

  Dear *** **,

   

  Interactive Brokers LLC("IBKR") is responding to your correspondence to the Better Business Bureau ("BBB"). In your correspondence, you describe a complex cost basis issue that began in April 2025 when you transferred *** **** shares from ******* to Interactive Brokers (“IBKR”) via Automated Customer Account Transfer Service ("ACATS"). This was erroneously submitted to IBKR as a short position transfer, causing IBKR to automatically close the position at $171/share, which generated a capital gain of $11,613.45. While IBKR correctly calculated this gain using **** cost basis (106 shares at $91.76 and 53 shares at $110.36), the transaction created a problematic discrepancy. Following this incident, both brokerages now display these shares with $0 cost basis. Despite your comprehensive attempts to resolve the issue, including initiating a full account transfer to IBKR on May 1, 2025, requesting a revoke request through ******* on June 11, 2025, and filing a formal complaint with IBKR's internal support system, you state that neither brokerage has accepted responsibility for correcting the cost basis discrepancy. ******* claims they cannot restore the cost basis without input from IBKR, while IBKR maintains they received the cost basis as $0 from ******* and cannot modify it.

   

  The following is a timeline of events as supported by IBKR’s records:

   

  On April 7, 2025, you submitted an Incoming Asset Transfer (ACATS) request for partial account transfer for -159 shares of ****, indicating a short position. On April 8, 2025, IBKR received short -159 shares of **** with a cost basis of $171, which was automatically offset against your existing long positions using ****, resulting in a realized capital gain of $11,613.45.

   

  On April 8, 2025, you contacted IBKR through secure message center on ticket 493149 indicating concern about an **** position transfer from *******. You noted that while you had submitted a request for 159 shares of **** to be transferred into your IBKR account, you observed 159 shares of **** being transferred out instead. Our response explained that when submitting the ACATS transfer, the quantity type was entered as 'short,' which prompted ******* to send 159 short shares of **** (essentially a negative quantity). This resulted in your **** position in your IBKR account being reduced by 159 shares.

   

  On April 25, 2025, you contacted IBKR through the secure message center on ticket ****** questioning why there was a realized *** of $11,613.45 for what you thought was a transfer. IBKR informed you that short **** shares were transferred in and offset against long positions in your account, in accordance with the transfer instructions you had provided. IBKR also provided you with detailed lot information to explain how this transaction resulted in the realized ****

   

  On April 29, 2025, you contacted IBKR through the secure message center on ticket ****** indicating you had made the transfer of short positions in error and requested IBKR to work with ******* to reverse or correct it. IBKR suggested that you have ******* submit a RECLAIM request as the issues at hand are a downstream result of the transfer made by *******.

   

  On May 1, 2025, you submitted an Incoming Asset Transfer (ACATS) request for full account transfer from *******. On the same date, you contacted IBKR through the secure message center on ticket ****** indicating that ******* insisted a reclaim wasn't possible and that an incoming ACAT was the only option. IBKR warned you that the new transfer would not resolve the realized *** issue as those trades were closed, and they would still be reported in 2025. IBKR further assisted you with a contact at ****** ******* who handles cost basis issues and is familiar with employee shares.

   

  On May 6, 2025, your submitted Incoming Asset Transfer (ACATS) request for full account transfer from ******* was processed where 319 **** shares were transferred to IBKR (159 shares with $0 cost basis and 160 shares with $31,853.90 cost basis).

   

  As stated on IBKR website, “For U.S. Taxpayers, covered securities— Cost basis provided by another broker cannot be changed directly. If information is incorrect, contact the sending broker to request an update and re-delivery of cost basis. Non-covered securities— You may update cost basis for display purposes, but self-reported information cannot be used for official *** Form ****** reporting unless it comes from your previous broker.”

   

  On May 11, 2025, you contacted IBKR through the secure message center on ticket ****** regarding missing cost basis, where IBKR informed you that 159 shares were transferred to IBKR with zero cost basis and, per *** rules, the cost basis could only be changed if ******* sent corrected information to IBKR.

   

  IBKR acknowledges that there were subsequent conversations between you and Client Services on May 12, 2025 and July 14, 2025 requesting IBKR to update the cost basis and requested IBKR to send the record of offset transaction to ******* so that ******* can update their transfer records, which would allow them to send cost basis to IBKR instead of the current $0 cost basis. IBKR maintained that they received 159 shares from ******* with zero cost basis and cannot change the cost basis unless ******* sends corrected information. In short, the request is for IBKR to provide ******* with cost basis information on positions they themselves delivered to IBKR, so that ******* can then send that same information back to IBKR as the "cost basis." This circular exchange would not only result in a net *** of zero, defeating the purpose of cost basis reporting, but is also inconsistent with *** regulations.

   

   

  Further, IBKR informed you that IBKR cannot share trading information due to privacy matters and requested you to submit the activity statement which includes all lot details.

   

  The correct procedure is for *******, as the delivering broker of the short position, to provide the relevant data directly to IBKR for our **** reporting on a covered security. Since the short position closed at IBKR, we require the cost basis from the transferring firm to complete accurate **** reporting.

   

  We remain committed to updating your cost basis information immediately upon receiving corrected data from *******.

   

  Please do not hesitate to contact us if you have any additional questions.

   

  Regards,

  *******

  IBKR Client Services

  Customer Answer

  Date: 09/10/2025

  
  
  Complaint: ********
  
  
  
  I am rejecting this response because:

  Dear *******,
  
  Thank you for your response regarding the cost basis discrepancy for *** **** shares short transferred from ******. While I appreciate the detailed timeline provided, your position that IBKR cannot correct this issue and that transmitting cost basis back to ****** would be “circular” and inconsistent with *** rules is directly contradicted by *******’s written statements to me and to regulators.
  
  
  Specifically, ******* has formally confirmed in writing that:
  
  
  “Our review of this matter reflects the following: (1) as a result of your Request, the ****** **** delivered to *** 159 shares of **** which served as borrowed units (the ‘Borrowed Units’); and (2) such request by you resulted in our delivering a $0.00 cost basis to the ****** **** for the Borrowed Units, yet, due to administrative oversight, the Borrowed Units were marked as covered.”
  
  
  Further, in the same written reply dated August 2025, ******* stated (emphasis added):
  
  
  “Please be advised that on August 6, 2025, Firm personnel sent a corrected transfer statement to the ****** **** to reflect that the tax lot for the Borrowed Units as both non-covered and a $0.00 cost basis. As such, please be advised that the Borrowed Units were received by the Firm as having no cost basis and that all tax reporting on the Borrowed Units will occur at the ****** ****.”
  
  
  This language leaves no room for interpretation:
  • ******* acknowledges that the original $0 cost basis was the result of the short transfer.
  • They admit an administrative oversight in erroneously marking the shares as covered.
  • Most importantly, they clearly state that all tax reporting for these Borrowed Units is the responsibility of IBKR (“the ****** ****”).
  
  
  Your response argues that providing cost basis information back to ****** would be “circular” and “inconsistent with *** regulations.” This is factually incorrect. The transferring broker (IBKR, which initiated the short transfer and generated the capital gain) has already computed the correct cost basis internally—as evidenced by your own Tax Optimizer, which shows 106 shares at $91.76 and 53 shares at $110.36, generating the $11,613.45 long-term capital gain. ****** has explicitly deferred reporting responsibility to IBKR, meaning there is no “circularity”: IBKR holds the cost basis and should (1) report it directly for tax purposes, or (2) transmit it back to ******* as part of correcting the ACATS record.
  
  
  Therefore, I am formally demanding that IBKR take one of the following corrective actions:
  Transmit the correct cost basis ($27,189 total, average $97.93/share) for the *** **** shares to *******, as ******* has confirmed this is the only way their records can be corrected; or
  Correct the cost basis internally within IBKR to reflect the accurate lot information already displayed in your Tax Optimizer and ensure proper ****** reporting for tax year 2025.
  
  
  It has now been over five months since this issue first arose, and despite repeated efforts with both firms, the problem remains unresolved. I am fully willing to provide any further documentation or cooperate in any way necessary to assist this case as this failure would result in duplicative and inaccurate tax reporting.
  
  
  Thank you very much for your time, understanding, and assistance.
  
  
  
  Sincerely,
  
  
  
  ******** **

• Initial Complaint

  Date:07/15/2025

  Type:Customer Service Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I upgraded my cell phone and needed to redo my 2 step authentication. The phone number on my account was an old phone number. After waiting for over 30 minutes, I got someone who was unable to help until I did a convoluted selfie/ID process which despite my best efforts, did not work.
  
  Then after all this and about 45 minutes into the call, she finally just asks me security questions to verify my identity. WHY did she not start with this? When I told her the phone number was most likely the issue, instead of changing it, she tried to get me to log in which was my entire reason for calling.
  
  Finally after 1 hour, 3 minutes, she gives up and transfers me to another "security" specialist. That rep was able to walk me through the correct order of steps and was able to help me. The call ended after 1 hour, 12 minutes, and 7 seconds.
  
  That is 1 hour, 12 minutes, and 7 seconds that should have been more like 20 minutes. This is a prime example of poor customer service, plain and simple.

  Business Response

  Date: 07/28/2025

  Dear *** *****
  
  Interactive Brokers
  ("IBKR") is responding to your correspondence to the Better Business
  Bureau ("BBB") submitted on July 14, 2025. In the correspondence you
  state that you needed to redo your two-factor authentication, that the process
  was time consuming and an example of poor customer service. Upon receipt of
  your correspondence, the IBKR Complaints Department reviewed the facts and
  circumstances surrounding your complaint and provides the following response.
  
  IBKR takes account protection
  seriously. IBKR uses Au10tix to verify the client's identity. As part of the
  verification process clients are asked to provide a selfie, ID and complete a
  web-based verification process.    
  
  IBKR would like to apologize
  for your less than satisfactory experience. IBKR strives to provide excellent
  customer service. Please accept our apologies that, in this instance, our
  service level did not meet expectations.
  
  Regards,
  Ayana
  Interactive Brokers

• Initial Complaint

  Date:06/25/2025

  Type:Customer Service Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I signed up for various trading accounts in 2021 and was using *** for *** since originally opening my accounts. They have now required users to install their proprietary mobile phone authentication app which is not compatible with my phone. I have call support numerous time about getting an exemption but they say I need to buy a new phone to install their app. I am currently locked out of my account and cannot access my funds!

  Business Response

  Date: 07/14/2025

  Dear *** ********,
  
  Interactive Brokers ****** Inc. ("IBC") submits this response to your
  24 June, 2025 correspondence to the Better Business Bureau, Inc. (BBB),
  regarding the Two Factor Authentication requirement and the login issues for
  your IBC accounts. 
  
  As background, please note that Interactive Brokers is committed to protecting
  your account and your account assets from fraudulent practices. The Secure
  Login System provides an extra layer of security to your account through the
  use of a free physical security device or a software application (IBKR Mobile -
  IB Key or Mobile Authenticator app), digital security solutions, designed for
  mobile devices. Although it requires an extra step when logging into your
  account, the simple practice of entering a randomly generated security code
  along with your username and password goes a long way toward protecting your
  account. Further, please know that financial regulatory bodies worldwide
  increasingly require financial institutions to implement strong authentication
  methods to protect client assets and personal information. IBC's Two Factor Authentication requirement helps ensure compliance with these regulations.
  
  As your account contains valuable financial assets and sensitive personal
  information, IBC implements Two Factor Authentication to provide the highest level of protection for
  your investments and data. We would also like inform you that it is not
  possible to use Interactive Brokers account without a Two Factor Authentication
  as without an active Two Factor Authentication, your account is vulnerable to
  unauthorized access and malicious activities.
  
  You can refer to the below webpage for more information on IBC's Two Factor
  Authentication:
  www.interactivebrokers.com/faq?id=29079898
  
  A review of your account communication indicates that a member of our Security
  Device team contacted you by telephone on 10 July, 2025 and we believe they
  were able to assist you with the login to your account and your issues regarding the
  Two Factor Authentication. If this is not the case, we would request you to
  reach out to our team for further assistance.  
  
  Regards, 
  Ankit 
  Case Manager - IBKR Client Services
  

  Customer Answer

  Date: 07/15/2025

  
  
  Better Business Bureau:
  
  
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  Priyanka restored my account access as per my previous *** settings.
  
  
  
  Sincerely,
  
  
  
  ******

• Initial Complaint

  Date:05/22/2025

  Type:Product Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I am a victim of a fraudulent Automated Customer Account Transfer (****) transfer. Interactive Brokers (IBKR) is the receiving firm. A fraudster was able to impersonate me and open an account with IBKR using my PII. I am writing to file a formal complaint against IBKR due to their inadequate fraud prevention measures, lack of effective communication, and failure to resolve a fraudulent **** in a timely manner.
  On 5/1/2025, a fraudulent **** transfer was initiated by a fraudulent IBKR account on my brokerage account (under a separate brokerage vendor) without my authorization. I discovered this unauthorized activity on 5/5/2025 and immediately contacted IBKR to report the issue. I was assured by their representative that the fraudulent account had been fully restricted, and my assets would be returned when they received the reclaim request. On 5/9/2025, IBKR confirmed through e-mail that they had received the reclaim request and it has been handled by the clearing team. On 5/12/2025, I reached out again for a status update and received an email response on 5/14/2025 stating that the reclaim request had been processed and should settle in the next few days. As of today, 5/22/2025, the issue remains unresolved, and I have not received my funds and assets back. Despite my repeated follow-ups via email and phone, my emails have gone unanswered, and the support team has refused to connect me directly with the client security team. Promised responses have consistently failed to materialize. It took less than a week for IBKR to take funds and assets out of my brokerage account. However, it has taken over a week—and counting—for them to return my funds and assets to me.
  This incident demonstrates a significant deficiency in IBKR’s fraud detection and prevention systems. I am deeply disappointed by IBKR’s handling of this matter, particularly their inability to prevent fraud, failure to act on their assurances, and lack of transparency in resolving the issue.

  Business Response

  Date: 07/10/2025

  **** *** ****

  Interactive Brokers LLC (“IBKR” or “Interactive Brokers”) is
  responding to your complaint filed with the Better Business Bureau (“BBB”) on
  May 22, 2025. In your correspondence, you state a fraudster opened an account
  at Interactive Brokers with your personal identification information (PII) and
  transferred your assets from another financial institution, **********, to the
  fraudulent account at IBKR. The assets were returned to you by IBKR on May 30,
  2025.  You expressed your disappointment
  with Interactive Brokers’ handling of the matter and the perceived delay.

  On May 1, 2025, an Individual account for *** ******* ***
  was opened and approved at Interactive Brokers.

  On May 5, 2025, an Incoming Automated Customer Account
  Transfer (“****”) was processed for 1,674 long shares of **** and 230 long
  shares of *** along with 2,028. On the same date, you telephone Interactive
  Brokers to report the fraudulent **** and were provided with the instructions
  to initiate an investigation of the fraudulent activity. At that time,
  Interactive Brokers restricted the account from deposits, withdrawals and
  trading.

  Between May 7, and May 27, 2025, you contacted IBKR multiple
  times for updates.  IBKR confirmed the
  ongoing investigation.
  On May 28, 2025, Interactive Brokers received a request to
  return your assets to the delivering institution from which they were
  fraudulently transferred to us. Interactive Brokers processed the reclaim and
  notified you.

  On May 30, 2025, the assets were successfully returned to
  your account at the delivering institution.

  According to our records, Interactive Brokers immediately
  restricted the account fraudulently opened with your PII. Please know
  Interactive Brokers takes all reports of fraudulent activity seriously and
  follows a comprehensive procedure to document and investigate such reports,
  which may account for unforeseen delays. We apologize if the assets were not
  returned within your anticipated timeline.

  If you have any further questions, please do not hesitate to
  contact us.

  Regards,
  Raquel
  IBKR Customer Service

  Customer Answer

  Date: 07/11/2025

  
  
  Better Business Bureau:
  
  
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  
  
  
  Sincerely,
  
  
  
  ******* ***

• Initial Complaint

  Date:05/21/2025

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  i’m a ********* resident with a margin account at Interactive Brokers LLC (IBKR), a registered broker-dealer in ** (*********). On April 4, 2025 (14:08 ET), I sold 247 shares of *** (22 at $98.81, 100 at $98.81, 75 at $98.82, 50 at $98.82) due to a margin warning that turned out to be false. This sale led to a $5,413.45 loss. IBKR charges me standard fees for maintaining a margin account (fee details available in statements).
  
  IBKR commits to offering a reliable platform with real-time risk tools and automatic liquidation to manage margin risk, as advertised on their website. However, during a technical error on April 4, 2025, IBKR disabled their automatic liquidation system without notifying clients. Instead, I received an inaccurate margin warning (Message #********), prompting an unnecessary manual sale.
  
  The nature of the dispute is that IBKR admitted (on April 24 and May 19) that the margin warning was incorrect and auto-liquidation had been disabled, but they failed to notify clients in real time. This lack of communication forced me into a manual sale that caused a significant, avoidable loss.
  
  IBKR responded to my inquiries (#*******, #*******), initially telling me to monitor my account. Later, they acknowledged the error and their communication failure but denied compensation, citing Customer Agreement, which limits liability for system issues.
  
  This issue does not involve advertising in the traditional sense, but IBKR’s published materials emphasize real-time account protection, which was not delivered during the incident.
  
  I’ve filed complaints with *****, ***, ****, ****, and the ** ********** ** *******. This is my first BBB complaint. I seek reimbursement of $5,413.45 and accountability from IBKR for not informing me of a critical system change that directly caused this loss.

  Business Response

  Date: 06/18/2025

  Dear *** ***,
  
  Interactive Brokers LLC ("IBKR") has received your
  correspondence to the Better Business Bureau (“BBB”) submitted on May 21, 2025.
  In your correspondence, you state that IBKR issued erroneous liquidation
  warnings that led you to close your *** position resulting in financial loss.
  You also referenced a technical issue affecting other clients on August 5, 2024,
  which IBKR has no knowledge of and appears unrelated to your issue. We will
  address the April 4, 2025 issue in this response.
  
  Our records show the following timeline regarding this
  matter:
  
  On April 4, 2025, our systems experienced a technical
  issue that caused a system display window to incorrectly show an elevated
  margin requirement between 14:02 ET and 14:38 ET.  You submitted Ticket #****** stating that you
  had closed your position in *** and requesting advice on how to handle
  increases in your maintenance margin requirements.
  
  On April 5, 2025, our trade desk informed you of the
  system display issue and reminded you to monitor and manage your positions.
  
  On April 5, 2025, you attempted to bust your closing
  trade, but this request was denied as it did not meet the conditions specified
  by the exchange.
  
  On April 7, 2025, we sent a written acknowledgement of
  your complaint and requested that you manage the risk of your account,
  including any orders, trades or positions related to your complaint, to avoid
  unnecessary risk or losses during the investigation period.
  
  On April 24, 2025, we provided our response to your
  complaint, informing you that the issue had been resolved and that we would not
  offer compensation as you did not reinstate your position after the issue was
  corrected.
  
  In reviewing this matter again, it seems that there still
  has been no action taken by you to reestablish your position after:
  1) IB informed you of the margin display issue on April
  5; 
  2) you attempted to bust the trade on April 5;
  3) IB acknowledged your complaint and requested that you
  manage your risk on April 9; and
  4) IB responded to your complaint on April 24 with an
  explanation of the error, its prompt resolution, and our decision not to
  provide compensation as you did not repurchase the shares within a reasonable
  time period. 
  
  IBKR acknowledges the inconvenience caused by the
  temporary display issue. However, after thorough review, we maintain our
  position that compensation is not warranted in this case as you had ample
  opportunity to repurchase your *** shares following the incident, including at
  prices lower than your selling price, and have not done so.
  
  Regards,
  Prasad K
  IBKR Client Services

  Customer Answer

  Date: 06/18/2025

  
  
  Complaint: ********
  
  
  
  I am rejecting this response because:

  
  The technical issue on April 4, 2025, from 14:02-14:38 ET forced my sale of 247 *** shares at a $5,413.45 loss at 14:08 ET, before IBKR’s April 5 notification. This was not due to overleverage, as my account maintained a positive margin excess. Their April 5 notice came too late to prevent the sale, and expecting repurchase during the confusion (April 5-7) or after their April 24 denial is unreasonable. IBKR’s May 19, 2025, admission of a communication failure confirms I was inadequately informed. I am pursuing ***** arbitration and seek compensation.

  
  
  Sincerely,
  
  
  
  *** **** ***

  Business Response

  Date: 07/17/2025

  Dear *** ***,
  
  Interactive Brokers LLC ("IBKR") has received your
  correspondence to the Better Business Bureau ("BBB") submitted on May
  21, 2025. In your correspondence, you state that IBKR issued erroneous
  liquidation warnings that led you to close your *** position resulting in
  financial loss. You also referenced a technical issue affecting other clients
  on August 5, 2024, which IBKR has no knowledge of and appears unrelated to your
  issue. We will address the April 4, 2025 issue in this response.
  
  Our records show the following timeline regarding this
  matter:
  • On April 4, 2025, our systems experienced a technical
  issue that caused a system display window to incorrectly show an elevated
  margin requirement between 14:02 ET and 14:38 ET.  You submitted Ticket #****** stating that you
  had closed your position in *** and requesting advice on how to handle
  increases in your maintenance margin requirements.
  • On April 5, 2025, our trade desk informed you of the
  system display issue and reminded you to monitor and manage your positions.
  • On April 5, 2025, you attempted to bust your closing
  trade, but this request was denied as it did not meet the conditions specified
  by the exchange.
  • On April 7, 2025, we sent a written acknowledgement of
  your complaint and requested that you manage the risk of your account,
  including any orders, trades or positions related to your complaint, to avoid
  unnecessary risk or losses during the investigation period.
  • On April 24, 2025, we provided our response to your
  complaint, informing you that the issue had been resolved and that we would not
  offer compensation as you did not reinstate your position after the issue was
  corrected.
  
  In reviewing this matter again, it seems that there still
  has been no action taken by you to reestablish your position after:
  1) IB informed you of the margin display issue on April
  5; 
  2) you attempted to bust the trade on April 5;
  3) IB acknowledged your complaint and requested that you
  manage your risk on April 9; and
  4) IB responded to your complaint on April 24 with an
  explanation of the error, its prompt resolution, and our decision not to
  provide compensation as you did not repurchase the shares within a reasonable
  time period. 
  
  IBKR acknowledges the inconvenience caused by the temporary
  display issue. However, after thorough review, we maintain our position that
  compensation is not warranted in this case as you had ample opportunity to
  repurchase your *** shares following the incident, including at prices lower
  than your selling price, and have not done so.
  
  Regards,
  Prasad K
  IBKR Client Services

  Customer Answer

  Date: 07/17/2025

  
  
  Complaint: ********
  
  
  
  I am rejecting this response because:

  
  IBKR claims I could repurchase *** below $98.81 after its further drop, suggesting an opportunity to mitigate my $5,413.45 loss. However, this assertion fundamentally ignores IBKR’s technical error on April 4-5, 2025, which inflated margin requirements and forced the sale of my 247 *** shares at $98.81, directly reducing my equity by locking in a $5,413.45 loss—proof that the glitch, not my actions, triggered this initial decline, especially given my leverage remained within safe limits. First, IBKR’s failure left me exposed, with the April 5 notification arriving too late after my sale at 14:08 ET; ***ond, IBKR’s failure to communicate the disabled liquidation system—admitted on May 19—left me unable to act rationally during the critical window. Repurchasing required capital lost to IBKR’s glitch, the substantial $5,413.45 realized loss that depleted my resources to only $7,852.85 cash, and demanded trust in a flawed system that had already betrayed me, a burden IBKR wrongly shifts to me.

  
  Moreover, the April 5 notification’s tardiness, coupled with IBKR’s admitted failure to communicate the disabled liquidation system on May 19, stripped me of any reasonable ability to respond effectively, rendering IBKR’s repurchasing suggestion impractical and unfair.  With my cash remaining after IBKR forced-sale— insufficient to restore my original 247 shares, even at $87-90—left me unable to repurchase an equal quantity, as it could only cover a fraction (e.g., ~87-90 shares), a constraint imposed by IBKR error. Any reinvestment, such as the hypothetical example of ~82 shares at $95, would have tied up nearly all my liquid assets, offering no substantial offset to the loss. This loss of capital and trust, exacerbated by IBKR’s error and the subsequent portfolio drop to $35,640.49, made reinvestment an unfeasible option, and the eroded confidence further rendered margin borrowing untenable. The eroded confidence from IBKR’s technical glitch and communication failure also rendered further margin borrowing impractical, given IBKR compromised reliability. IBKR's history of supervisory lapses—evidenced by fines like the $475,000 Nasdaq penalty in 2024—undermines any reasonable expectation that I would rely on IBKR discretionary margin facility again under such circumstances. Yet IBKR persists in deflecting liability onto me.

  
  IBKR’s history, including the $475,000 Nasdaq fine in April 2024 for supervisory failures causing erroneous trades and the $38M penalty in 2020 for AML failures, suggests a pattern that undermines the credibility of this defense, revealing systemic issues within the firm. Under *** Regulation Best Interest, IBKR owes a duty to prioritize my interests, which was unequivocally breached here, and my refusal to borrow further reflects eroded trust in IBKR’s blame-shifting. Therefore, this burden to mitigate IBKR’s technical failure must rest with the firm, not me.

  
  Please reconsider this matter or I will proceed with ***** arbitration. This email revises my prior submission with verified context supporting my claim. I have CC’d *** and ***** for IBKR’s records.

  
  
  
  Sincerely,
  
  
  
  *** **** ***

• Initial Complaint

  Date:04/23/2025

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Brief summary: I transferred a large sum of personal money to IBKR, 20K, to try out their platform for investing/trading. Their data cost and other features were not to my needs and I initiated a return of my money via wire. IBKR web portal conveyed that I would have to agree to their PII policy for their third party processor of PII which I do not. I wasn't presented this when I opened the account and which to have my money and close my account. I have called them a number of time and they said they would file a formal complaint and not help via their phone customer support. Their first e-mail correspondence that the formal complaint start date of March 13, 2025 would be resolved within 4 weeks and it is now coming up on six weeks with no update, but a "non" response to my request for an update halfway through their time window. I wish to have my money returned without any more holding out for my to give in. I am not going to agree to that policy. I wish to explore any options. Please share with me any contact and response as I wish to add to my proof that I am dealing in good faith and working avenues to bring this to their attention. I have tried with no success through their customer service two separate times, phone and e-mail.

  Business Response

  Date: 05/06/2025

  Dear *** *******,
  
  Interactive Brokers LLC("IBKR") is responding
  to your correspondence to the Better Business Bureau ("BBB"). In your
  correspondence, you expressed dissatisfaction regarding your withdrawal request
  not being processed, as IBKR requires you to upload your PII (Personally
  Identifiable Information) documents to their third-party processor, which you
  are not comfortable doing. Therefore, you are requesting IBKR to process the
  withdrawal request without this requirement.
  
  As stated on IBKR website, “******* is a streamlined
  verification process that is done from a smartphone and IBKR will use the
  verification process for a new application, for an open account with a pending
  item in the Portal and for when an email is sent to the client to complete
  identity verification”.
  
  On March 04, 2025, at 10:28:28 EST you submitted a wire
  withdrawal request for USD 20,000.
  
  At 10:50:02 ET IBKR sent you a notification, Important
  Notice: Verification Required for Account ********* via email and message
  center. In the notification IBKR stated “For your protection, IBKR must verify
  your identity before processing a request to withdraw funds from account
  *********. Please complete the streamlined verification process by logging in
  to Portal.”
  
  On March 13, 2025, at 09:50:12 ET you contacted IBKR over
  telephone regarding the status of your withdrawal request. Our representative
  requested you to complete the verification by logging into the client portal.
  You expressed your dissatisfaction over the verification process and stated
  that you do not wish to upload your PII to a third-party website. Our
  representative informed you that withdrawal is not possible without
  verification. You maintained that you do not wish to upload your documents and
  wanted the withdrawal to be processed.
  
  On April 29, 2025, at 13:17:05 EDT IBKR has internally
  verified your details and processed your wire withdrawal request for USD 20,000
  without verification through *******.
  
  IBKR regrets any inconvenience caused due to this as this
  would not have been our intention as we strive at providing excellent customer
  service experience. IBKR’s verification process is intended to prevent
  erroneous or fraudulent transfer(s) from a client account. Upon receipt of your
  complaint, IBKR staff was actively following your concerns in an effort to
  expedite your request.
  
  Thank you for your understanding and patience as we
  worked through this matter. We remain committed to providing the best service
  possible.
  
  Regards,
  Krishna
  IBKR Client Services