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:12/27/2024

  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 bought *** (********) shares at a certain price and Interactive Brokers is not delivering the shares that I bought the stock at. I bought shares at 32.75 and 32.78 which the data shows in the trade confirmation. However, the tax optimizer shows the purchase price given is 32.84 and 33.11. I was told by a representative that commisions were added to the bought price.
  The tax lot bought price should not include any commissions or fees. When selling those shares the commision is added, but not to the secured purchased price. No other tax optimization bought share price shows any commissions added to the purchase price or has it ever until now. The tax optimizer handles the overall realized profit and loss of a trade. The trade confirmation reporting shows the "real" & accurate prices bought or sold along with time stamps. The tax lot price not being the same as the trade confirmation price seems fraudulent. Tax lot #** for 32.84 should be 32.75 and tax lot #** for 33.11 should be 32.78.
  This seems fraulent to not give me the correct purchase price at the price I bought this stock for? Who has my shares at the price I bought at?
  
  The representative did not let me speak to his manager. I was told to submit a secure message to the compliance and the order reporting departments, which I did. I have not heard back and I am afraid they are postponing any action to my claim. I would like to have my purchased shares show correctly in the tax optimizer.
  
  The tax optimizer screenshots attached have a black background.
  The order confirmation report screenshots have a white background.

  Customer Answer

  Date: 12/27/2024

  This complaint has been satisfied.  Please remove the complaint.  Thank you

• Initial Complaint

  Date:12/06/2024

  Type:Service or Repair 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 have had an account with IB for many years. I have been trading micro and small cap stocks since 1996. While my experience has been great with IB for many areas during that time, a recent change has made things very difficult to operate in. Specifically, this involves the buying power in my account. While in the past, I was able to buy on margin upwards of 100% of the amount in equity, for example, $100,000 in equities would allow me to buy an additional $100,000 using margin.
  
  In the past week, my buying power had dimished a lot, where I can barely buy on margin. I called IB today, actually five separate phone calls, and could not get an answer on what changed. In the late 1990s, during the dot com, there were warnings messages sent to customers regarding securtities that were not marginable. If this is the root cause, why is'nt IB using this practise, that was mainstream as far back as 1999?????

  Business Response

  Date: 01/03/2025

  Interactive Brokers LLC (“IBKR”) submits this response to
  your correspondence filed with the Better Business Bureau, in which inquire as
  to why IBKR did not send you a notification regarding securities that are not
  marginable in your account.

  As you were advised by an IBKR CSR via web ticket, and
  stated on the IBKR website, non-marginable long or short positions have a 100%
  requirement.  An account, such as yours,
  with multiple non-marginable positions will see a decrease in buying
  power.  Additional information regarding
  margin requirements at IBKR can be found on the IBKR website at:

  *************************************************************************************************************

  Please note that stocks classified as ** ******** stocks are
  non-marginable at IBKR.  **** ********
  stocks are classified based on specific criteria that take into consideration
  market capitalization, share price, and trading venue. Here's a detailed
  explanation of the classification and reclassification process:
   Classification
  Criteria:
   A stock is considered
  a **** ******** if it meets all of the following conditions:
   1. Market
  capitalization is under $300 million
   2. Share price is
  under $5
   3. The stock is
  trading on PINK sheets
   Reclassification
  Process:
   To ensure stability
  and prevent frequent reclassifications, Interactive Brokers (IBKR) has
  implemented a specific procedure for moving stocks out of the **** ********
  category:
   1. A stock will
  remain classified as a **** ******** until it meets both of the following
  conditions simultaneously:
   - Market
  capitalization exceeds $300 million
   - Share price exceeds
  $5
    2. These conditions
  must be maintained for 30 consecutive calendar days.
   3. Only after the
  30-day period is complete will the stock be reclassified and no longer
  considered a **** ********.
    This 30-day
  requirement helps to ensure that the change in a stock's status is not due to
  temporary market fluctuations but represents a more sustained shift in the
  company's market position and value.
   It's important to
  note that this classification system is specific to Interactive Brokers and may
  differ from definitions used by other financial institutions or regulatory
  bodies. Investors should be aware of these criteria when considering
  investments in microcap stocks, as they often carry different risks and trading
  characteristics compared to larger, more established companies.

   Please note that as
  stated in the IBKR Customer Agreement, of which you signed and agreed to,
  IBKR’s house margin requirements may exceed 100% depending upon the product and
  market conditions.  IBKR may modify
  margin requirements for any or all clients for any open or new positions at any
  time, in IBKR’s sole discretion and without prior notice.

  IBKR wishes to remind you that by default, the TWS displays
  an order confirmation pop up window prior to the submission of a trade.  The window shows a projection of the impact
  of the proposed trade, including margin requirements.  If you have dis-abled the order confirmation
  pop up window, it can be re-enabled via Global Configuration within the TWS.

  Regards,
  IBKR Client Services

• Initial Complaint

  Date:11/14/2024

  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 am submitting a formal complaint regarding an unresolved, ongoing delay with a wire transfer routed through ** ****** (sending bank) to ******** (receiving bank) in the ****** ******. The transfer, initiated from my **** account (through ** ******) and directed to my Interactive Brokers (IBKR) account (which banks with ********), was expected to complete on 8 November 2024. Both **** and IBKR have informed me that the funds are held for additional review at the receiving bank, ********, despite my having provided all requested documentation.
  
  Details of the Issue:
  Sending Bank: ** ******, acting on behalf of ****
  Receiving Bank: ********, acting on behalf of Interactive Brokers (IBKR)
  Amount of Transfer: US$90,000
  Date of Expected Transfer Completion: 8 November 2024
  Case Reference provided by IBKR for the investigation by ********: ****************
  
  Background:
  On 29 October 2024, I initiated a wire transfer through ****, which was routed via ** ******, to my IBKR account, with ******** acting as the receiving institution. **** requested and received additional information to support the transfer, subsequently assuring me that the funds would be released by 8 November 2024. However, despite **** and IBKR confirming that no further action is required on my part, ******** has yet to release the funds, citing an ongoing review. There has been obvious financial loss, given that the funds have been held up for more than 2 weeks at this stage. IBKR has indicated that I should be contacting ******** directly, which is obviously wrong and legally inappropriate given that the legal relationship with ******** is with IBKR and not with me at all.
  
  Request for Assistance:
  I am formally requesting the BBB's intervention to expedite the release of my funds and facilitate communication with the relevant parties.

  Business Response

  Date: 12/09/2024

  Dear *** ***,
  
  Interactive Brokers LLC (IBKR) is responding to your correspondence to the
  Better Business Bureau filed on November 14, 2024. In your correspondence, you
  complain of the length of time taken to credit a deposit into your IBKR
  account.
  
  A review of your account indicates that a deposit of USD 90,000 was credited to
  their IBKR account on November 20, 2024, as soon as we received it from our
  bank, ********. Your deposit was held at ******** for additional review, and
  the remitting bank was contacted by ******** regarding the same.
  
  While **** may have informed you that there were no additional delays to be
  anticipated, this was likely an indication that any reviews that they were
  conducting had been completed. Every financial institution has their own
  processes and procedures to review transactions in accordance with regulatory
  requirements and expectations. These reviews are designed for a variety of
  purposes, one of which being to protect client assets from fraudulent activity.
  IBKR can confirm that the delay in processing your deposit was due to reviews
  ******** was conducting in accordance with their own policies, which IBKR and
  **** have no discretion over.
  
  In addition, please note that your transaction was cross-border, and for
  several reasons cross-border payments can be subject to additional delays. Not
  all account balances can be updated outside of the operating hours of local
  settlement systems. Delays can also arise if compliance checks need to be
  carried out, especially when a payment passes through different countries and
  jurisdictions. While clients are increasingly accustomed to a payments
  experience that feels instant, cross-border payments and bank transfers have
  unique complexities that can take more time to complete.
  
  Finally, IBKR does not offer compensation for opportunity loss or other****
  indemnify clients for missed opportunity.
  
  Based on the above, it appears that IBKR's actions with respect to the account
  activity were in accordance with IBKR's standard policies and procedures as set
  forth on the IBKR website. Therefore, IBKR will not grant the compensation
  request.
  
  Regards,
  Raquel
  IBKR Client Services

• Initial Complaint

  Date:11/11/2024

  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 have repatedly tried to contact this company over the past several months with no response from the company. They could cost me hundreds of thousands of dollars. The website it faulty and does not work currently. There is no phone service--to include no emergency phone service. for days at a time. Company is slow to respond if they respond at all.

  Business Response

  Date: 12/13/2024

  Dear *** ********,
  

  Interactive Brokers LLC("IBKR") is
  responding to your correspondence to the Better Business Bureau
  ("BBB"). In the correspondence, you complain you tried to contact
  IBKR over past several months with no response from our end. Additionally, you
  state the website is faulty and there is no phone service for days at a time.
  
  IBKR notes we have no evidence of you contacting
  us prior to submitting complaint with “BBB” as on November 11,2024. Our records
  reflect your last contact to IBKR prior to aforementioned date was on April
  08,2024 requesting assistance with tax forms via secure message centre where
  IBKR responded you on same day.
  
  A review of your account since November 11,2024
  indicates the following:
  
  On November 11, 2024, you submitted Third-Party
  Withdrawal instructions.
  
  On November 13, 2024 at 11:29:24 ET IBKR requested
  additional information and documentation so that we may review the request. At
  16:08:42, you provided a response.
  
  On November 14,2024 at 18:32:08 EST, you submitted
  a wire withdrawal request for USD 157,984.92.
  
  On November 15, 2024 IBKR requested that you
  complete identity verification. You contacted Client Services for assistance in
  completing the verification, and you indicated that you could not scan the
  provided QR code with your phone and because you were traveling you were
  experiencing internet issues. As such, you were unable to complete the
  verification.
  
  On November 19, 2024 at 01:31:30 EST, your wire
  withdrawal request for USD 157,984.92 was processed. On the same day, you
  cancelled the third-party wire instructions.
  
  Please note, between
  November 11 and 19, 2024 you contacted client services multiple times regarding
  the status of the withdrawal, login assistance to client portal and assistance
  with completing verification, where you were assisted accordingly.
  
  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,
  Krishna
  IBKR Client Services
  

• Initial Complaint

  Date:11/08/2024

  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.

  IB messaged me after being a client for 20 years saying that they discovered my address is a mailbox, and they needed my physical home address (I use a mailbox address on my drivers license and as official mailing for many reasons including privacy since most companies and govt agencies at some point get hacked and have customer data stolen). Nevertheless, I gave them my physical home address and sent them verification (mortgage statement) on Oct 14.. within the next week they restricted my account to closing positions only and would not let me initiate new positions. I'm a frequent trader of securities, futures and options, and will often initiate new positions as a hedge, and hence restricting my trading adversely affects the performance of my account by increasing risk as well as eliminating the possibility of new opportunities. I called and got transferred and after 30 min of holding I had to hang up and get back to work. I emailed several times over the next several weeks (all professional messages), and received no reply. I called again and after 30 min of being on hold, I had to hang up and get back to work. Then I emailed again, and no reply. I honestly don't know what else to do, since nobody will talk to me on the phone and nobody will respond to my messages in the portal. If I was a newer customers, I would absolutely close my account immediately and never work with them again.. that's how a free market works. Money flows to where it's treated best. In this case, since I have been a customer for so many years, I want to give them every opportunity to do the right thing. I also can't help but wonder if there are any solvency issues at the firm, because I have learned over the years, that there are usually red flags that show up before a firm collapses... I'm otherwise lost for words....

• Initial Complaint

  Date:11/07/2024

  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 was using the trading platform on my ****. I made a trade to sell 2000 shares of a stock whose stock symbol is ****. The transaction resulted in me earning about $1K. Instead of showing me that I earned $1K, the **** displayed that I lost $176K.
  
  I called IBKR and spoke with tech support, they said take a screen shot, send it in, and they would fix and respond to me. I have submitted the ticket, and followed up and never heard a response. I am trying to understand how to prevent seeing incorrect information on the platform.
  
  When I logged in on the Ihpone 5 minutes later it displayed the correct information. This feels like a situation that has the potential to create risk for clients by shwoing incorrect information and having people trade on wrong information.
  
  I want to know what guardrails are being put in place to prevent this from occuring again.

  Business Response

  Date: 12/11/2024

  **** *** **********

  Interactive Brokers LLC (IB LLC) is responding to your
  letter to the Better Business Bureau (“BBB”), submitted on November 7, 2024.
  

  In your correspondence you stated that you closed your
  PRCT position on November 4, 2024, and that the ****** *** on your ****
  reflected the incorrect Profit and Loss and that you contacted IB LLC to have
  Technical Support review the matter and that they had not responded. You also
  stated that you logged onto the ****** *** from your phone and the correct
  Profit and Loss was showing. As such you are requesting IB LLC to provide
  information on what guardrails that are put in place to avoid the issue
  re-occurring.
  

  Please note
  that both Realized and Unrealized P&L on Trader Workstation are for
  informational purposes only. Please view your Daily and Monthly Activity
  Statements for the Realized and Unrealized P&L activity in your account.
  IB LLC's top priority is to maintain a reliable state
  of the art trading platform for our customers. IB LLC spends a considerable
  amount of time and resources to ensure a robust trading platform with one of
  the lowest failure rates offered by electronic trading firms. With that said,
  IB LLC cannot guarantee against system outages from IB LLC, an exchange or any
  internet service provider's technical problems. Because all technical issues
  cannot be foreseen, they are hard to guard against. IB LLC asks that you
  contact IB LLC real time (phone or chat) with time sensitive issues, which
  includes, but is not limited to a problem with an order or trade. A real time
  assessment provides us with information vital to the correction of any such
  issues. When you let us know as the issue is occurring, we can look at it and
  often correct it quickly.
  

  A review of
  your account activity indicates that on November 4, 2024, at 12:47:20 ET you
  called IB LLC regarding the realized profit and loss and provided a screen shot
  for Technical Assistance to review.
  On November
  7, 2024, in ticket ****** the Technical Assistance Representative reviewed the
  screen shot you provided, and you corresponded with the Technical Assistance
  Representative and that on November 4, 2024, you stated that you logged onto
  the ****** *** from your phone and that you were able to see the correct P&L
  information and that issue was resolved on November 4, 2024.
  

  In addition to
  providing ****** ***, IB LLC offers the ***, Client Portal and Desk Top ***.
  Please note that IB LLC’s Client Portal, ****** *** and Desktop *** offers
  limited functionality compared to the ***.
  
  IB
  LLC apologizes for your unsatisfactory experience however, based on the above,
  it appears that IB LLC's actions with respect to your account activity were in
  accordance with IB LLC's standard policies and procedures as stated on the IB
  LLC website.
  
  Regards,
  Sandra
  IBKR
  Client Services

• Initial Complaint

  Date:10/25/2024

  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.

  This is *****. I have been trying to open an account with Interactive Brokers since May, with my son-in-law's assistance. Each time we submit the application, it gets rejected. Today, I called and was informed that it was a management decision, but they couldn't provide a reason. the agent told me to submit a complaint ticket but when I do I get a error message which I attached to this complaint. so in short my account request is getting rejected and interactive broker refuses to tell me why

  Business Response

  Date: 12/13/2024

  Dear Ms ********* *******,
  

  Interactive Brokers LLC("IBKR") is responding to your
  correspondence to the Better Business Bureau ("BBB"). In the
  correspondence, you complain your application to open account at IBKR was
  rejected. After contacting IBKR requesting the reason for rejection of
  application, you were informed that it was management decision and you were not
  provided with reason of rejection. Therein, you request IBKR to provide you
  with reason of rejection for your application to open account at IBKR.
  
  IB LLC have carefully considered your account application, IB LLC
  management has decided not to proceed with your application at this time. IB
  LLC reviews account applications based on the US regulatory and legal
  obligations and concurrently with other policies and procedures of the
  Interactive Brokers' group of companies. IB LLC is guided by its ability to
  operationally serve customers within those legal and regulatory frameworks. IB
  LLC management has the right, in its sole discretion, but not the obligation,
  to approve customer applications or reject them based on such considerations.
  We do not have any further information to provide regarding the decision made
  by IB LLC Management.
  
  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 as set forth in the IBKR Customer Agreement.
  
  Regards,
  Krishna
  IBKR Client Services

  Customer Answer

  Date: 12/13/2024

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

  Your reply states: “IB LLC reviews account applications based on the US regulatory and legal obligations and concurrently with other policies and procedures of the Interactive Brokers' group of companies.” Yet you fail to specify which exact policies or procedures led to my application’s rejection. Instead, you provided a vague, catch-all explanation that leaves me completely in the dark about the real reason for this denial.
  Notably, this sudden rejection occurred only after I submitted a photograph that clearly identified me as a Black woman, raising a strong concern that racial bias may have influenced your decision. It’s deeply troubling and entirely unacceptable that a prominent financial institution would refuse to clarify a decision that appears to be discriminatory in nature.
  I demand a full, detailed explanation of what, precisely, disqualified my application. If this remains unresolved, I will share my experience publicly through social media outlets like Twitter as well as other news outlets. Additionally, I will explore legal avenues to address what I perceive as discriminatory and unlawful behavior.
  
  
  
  Sincerely,
  
  
  
  ***** ********* *******

  Business Response

  Date: 12/27/2024

  Dear Ms
  ********* *******,
  
  Interactive
  Brokers LLC("IBKR") is responding to your follow up correspondence to
  the Better Business Bureau ("BBB"). In the correspondence, you
  indicate IBKR did not provide a reason for the rejection of your account
  opening application. Additionally, you stated that your application was
  rejected after you uploaded a photograph identifying  yourself as black women, raising significant
  concerns about racial bias in decision.
  
  As communicated
  in our previous correspondence, IB LLC reviews account applications based on
  the US regulatory and legal obligations and concurrently with other policies
  and procedures of the Interactive Brokers' group of companies. IB LLC is guided
  by its ability to operationally serve customers within those legal and
  regulatory frameworks. IB LLC management has the right, in its sole discretion,
  but not the obligation, to approve customer applications or reject them based
  on such considerations.
  
  IB LLC operates
  in a highly regulated environment and may determine to reject customer
  applications for a variety of reasons, none of which are discriminatory against
  a protected class. The decision to allow clients to maintain their account is
  entirely within the discretion of IB LLC and we are not obligated to provide
  clients with additional details surrounding our compliance processes or
  decisions to reject customer applications.
  
  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 as set forth in
  the IBKR Customer Agreement.
  
  Regards,
  Krishna
  IBKR Client
  Services

• Initial Complaint

  Date:10/25/2024

  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.

  1.) My phone died. They REFUSE to allow access to my account without 2nd factor authorization
  wherein they send a code to A DEAD PHONE.
  2.) Their "Chat" option is NOT AVAILABLE as one must be logged in, which is IMPOSSIBLE with a
  DEAD PHONE.
  3.) I have emailed them multiple times. They REFUSE to answer.
  4.) They have FAILED to send me ANY PAPERWORK WHATSOEVER to substantiate my account.
  5.) I have phoned their customer support multiple times. They REFUSE to answer, saying "all our
  customer support representatives are busy".
  I am frustrated and angry that this company REFUSES to answer for their unjustified seizure of my
  funds. Apparently, I do not have ANY means to contact them. So, they just keep my funds and hope I will go away.

  Customer Answer

  Date: 10/25/2024

  Please drop all issues with Interactive Brokers; I was FINALLY able to swpeak with an actual, live person who resolved the issue.

  I am grateful for your assistance in this matter.

• Initial Complaint

  Date:10/04/2024

  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 was trying to close out my account with IBKR. I transferred most of my assets but had about $600 sitting as cash in the account. It never arrived in my bank account. When I looked at my IBKR account it said that my transfer was rejected. Didn't go through. When I've called them they told me either to keep waiting or to try transferring again. Soon I lost access to most of the parts of the website as I was in process of closing out my account. The money never arrived. When I just called I was told that it did go through. It didn't. It's so low to steal from your clients. So smarmy. I am not wealthy. That $600 makes a difference to me.

  Business Response

  Date: 10/18/2024

  Dear **** ******,
  

  Interactive Brokers ("IBKR") is responding to
  your correspondence to the Better Business Bureau ("BBB"). In the
  correspondence, you complain the assets minus cash (~$600.00) were transferred
  from your account held at IBKR. After contacting IBKR regarding the remaining
  cash in your account, you submitted a withdrawal request for the cash held in
  the account. As the withdrawal request was rejected due to insufficient funds
  and IBKR has not transferred the cash to the receiving institution, you believe
  IBKR has stolen the cash from your account. Upon receipt of your
  correspondence, the IBKR Complaints Department reviewed the facts and
  circumstances surrounding your complaint and provides the following response.
  
  IBKR thoroughly reviewed our records for your account as
  of the close of business on March 21, 2024 and determined the account held the
  assets as follows,
  CASH: USD 183.36;
  ***** * *******
  ***** ****** *******
  **** ***** *******
  **** ****** *******
  ***** ******* ******* ***
  **** ****** ******
  
  On March 22,2024, at 11:37:40 ET IBKR received a Full
  Outgoing Automated Customer Account Transfer (ACATS) request. On the same date,
  at 17:13:44 ET IBKR transferred from your IBKR account 2 shares of **** ** ****** ** ***** * ***** ** ***** * ****** ** ***** * ***** ** **** * ****** ** **** and $83.35.
  
  On March 22 and March 27,2024, a dividend payment of USD
  2.88 for *** and USD 2.77 for *** was credited to your account, respectively.
  
  On April 01, 2024, at 09:35:49 ET IBKR liquidated the
  fractional shares held in your account which led to the total proceeds of
  $521.33 (minus commissions). On the same date, at 12:02:32 ET IBKR sent via TWS
  Bulletin and Message Center a communication stating, “Only in limited instances
  does Interactive Brokers facilitate the holding of fractional shares in an
  account.  Any account not eligible to hold fractional shares will have the
  factional shares liquidated and the proceeds credit to their account. This is
  to inform you that certain fractional shares were liquidated in your trading
  account due to reason: We have recently received instructions of a full
  outbound transfer request”.
  
  Please note IBKR will liquidate fractional shares held in
  an account upon receipt of a Full Outgoing ACAT transfer and transfer the
  proceeds to the receiving institution.
  
  On April 02 and April 04, 2024, IBKR transferred from
  your account the residual cash balance of $103.37 and $521.33, respectively.
  
  On April 02,2024, at 00:54:50 EDT, you submitted an
  Automated Clearing House (“ACH”) withdrawal request in the amount of USD 624.7.
  On April 15,2024, at 07:34:20 EDT the aforementioned request was rejected for
  the reason: Insufficient cash balance. Please note the above request was
  rejected as all of the assets were transferred from the account including the
  cash balance. As of October 16, 2024, your account holds a current available
  cash balance of USD 0.12. Should you wish for the remaining cash balance to be
  transferred from your IBKR account, please contact the institution receiving
  your transferred assets.
  
  Please note after an ACATS transfer is completed, there
  may still be a residual cash balance remaining in the account. Residual cash
  balances in non-base currencies will automatically be converted to the base
  currency of the account after 2 business days at no cost to clients. These
  residual balances are regularly swept the night after settlement, which is
  usually 2 business days after a trade or closing transaction.
  
  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,

  Raquel

  IBKR Client Services

• Initial Complaint

  Date:09/24/2024

  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.

  The Attempt to Withdraw $1,100 cash funds was done on 9-27-24. Interactive Brokers (IBKR) had agreed to return the money from my investment account ********* (Exh #1) . After committing & showing on IBKR App that money was supposedly on the way, IBKR did on that same day not send the cash but rejected the ACH Debit declaring that the account was in NSF (Exh #2). The nature of the dispute is that the business did refuse release of funds and has now taken constructive control of the account, is trying to force Margin status on the account and effectively force owner out of corrective actions on all activity on the Account to owner's detriment of all equities. IBKR will not allow full control nor allow account holder to even ask questions to get any answers or to even write to ask for information Exh #3 and the *** has so far refused to take any actions.

  Business Response

  Date: 10/22/2024

  Dear *** ******,
  
  Interactive Brokers LLC (IB LLC) is responding to
  your letters to the Better Business Bureau (BBB), submitted on September 24,
  2024.
  
  In your correspondence, you stated that 1) you
  were informed that you have margin account and that you never requested margin
  and 2) when you attempted to withdraw 1,100.00 USD from your account via ACH,
  you were informed that there were insufficient funds and that you are now
  attempting to close your positions or to transfer your positions to another
  firm and. As such you are requesting IB LLC to credit your account 500.00 USD.
  
  Interactive Brokers is an exclusively online
  broker that provides trade execution and clearing services to the public around
  the world. Interactive Brokers does not employ any human advisors or brokers
  who managed client accounts. Trades are entered by the client or the client's
  self-selected financial representative on a personal computer and transmitted
  over the internet to Interactive Brokers for execution on various exchanges and
  market centers. All trading in an IB LLC customer account is self-directed by
  the client. Interactive Broker's customer service personnel are specifically
  prohibited from providing any investment, trading or tax advice to customers.
  
  A review of your account indicates that you have a
  Cash account, not a margin account, and that your account never had margin
  enabled. In reviewing your account, it was noted that the Client Services
  Representative ("CSR") informed you that your account had a
  "margin deficit", which may be what led to the misunderstanding. This
  was not intended to imply that you have a margin account, but simply that your
  account had a negative balance. This negative balance resulted from an ***** fee
  that was charged to you by the originating firm from which you transferred your
  assets, not by IB LLC. This ***** fee can also be found on your statement.
  
  Your correspondence also states that IB LLC is
  preventing you from withdrawing your funds. As was noted in our previous
  response dated October 17, 2024, you had requested a Direct ACH Transfer/Direct
  Debit. This particular transfer method requires you to sign an agreement, which
  you have thus far not done. In addition, as the withdrawal amount in question
  is over 1,000 USD, you will be required to successfully complete dual factor
  authentication as part of Interactive Brokers Secure Login System. ************************************************************. This entails using a second factor during
  login, such as IBKey, a Mobile Authenticator, or a physical Security Code card.
  Such controls are in place to protect your assets from fraudulent activity.
  
  If you wish to continue with this transfer method,
  you can setup another Direct ACH Transfers/Direct Debits through the Transfer
  & Pay menu in Client Portal. However, you will again be prompted to sign an
  agreement before you can request an ACH Direct Debit.
  
  Here is a timeline of the relevant activity in
  your account:
  
  On August 16, 2024, IB LLC received a deposit in
  the amount of 20.10 USD via Direct Deposit.
  
  On September 13, 2024, at 09:21:00 ET, IB LLC
  received an ACH Direct Debit withdrawal request for the amount of 1,100.00 USD.
  However, you had not completed the agreement noted above. As such, on September
  16, 2024, at 14:02:14 ET, the withdrawal request was rejected.
  
  As noted above, should you wish to withdraw funds
  using an ACH Direct Debit you will need to complete the agreement and, if the
  amount is over $1,000.00, you will need to confirm the withdrawal utilizing a
  second factor security device. If you need assistance, please contact IB LLC's
  Funds and Banking Department in your region at ###-###-#### option 2, 1.
  
  Please note that IB LLC offers multiple ways to
  withdraw funds from your account that do not require an agreement. Please log
  into Client Portal and then Transfer and Pay followed by Transfer Funds and
  then select a withdrawal method and currency.
  
  If you wish to transfer your assets via ACATS
  (Automated Customer Account Transfer Service) to another firm, you will need to
  submit the instructions at the receiving firm. Please note IB LLC does not
  charge a transfer fee for outbound asset transfers via ACATS. For other methods
  of transferring assets and the fees associated, please visit IB LLC's website ****************.
  

  Based on the above, it appears that IB LLC's actions with respect to
  your account activity were in accordance with IB LLC's standard policies and
  procedures as set forth on the IB LLC website. Therefore, IB LLC will not grant
  your compensation request.
  
  Regards,
  Sandra
  IBKR Client Services

  Customer Answer

  Date: 11/04/2024

  ***** ***** ** ** *******************************
  ***** ********* ******* *** **** **** **
  *** ********** ***********************
  ******** *** *** **** * *** ******* **** *** ******* *********** ********* ********* *********
  
  
  
  **** ****

   

  I really hope to have a resolution to the matter by transferring to my entire portfolio

  from Interactive Broker by tomorrow as I have been notified by the receiving broker

  if all holdings are in the transfer??? If all the holdings are there, I will eternally bid

  goodbye to IBKR or I read the data from you tomorrow to reply.

   

  Respectfully and thanks,

  ***** *** ******

   

  ** **** *** *** **** ** **** ** ******