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:01/13/2025

  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.

  Most screwed up stock trading platform on the planet. I can't even log in anymore. Just wasted an hour on the phone with your incompetent outsourced customer service in ***** who refused to allow me to speak with a supervisor.

  Business Response

  Date: 02/05/2025

  Interactive Brokers LLC (“IBKR”) submits this response to your correspondence filed with the Better Business Bureau, in which state that you received bad service when attempting to log into your account.

  
  IBKR records reflect that on January 13, 2025, you contacted IBKR for assistance logging into your account.  IBKR notes that your account had been locked as a result of too many failed attempts to log in and as such, your IB KEY security device was not receiving notifications.  Upon contacting IBKR for assistance accessing your account you were asked security questions to verify your identity prior to being given access to the account.  IBKR notes that you were not successful at answering the security verification questions and therefore, you were not provided with assistance accessing the account on January 13, 2025.
  
  IBKR wishes to remind you that as stated on the IBKR website, for security reasons, IBKR does not reset passwords, provide usernames or unlock account via email or chat, client must contact IBKR via phone and provide accurate security verification information to receive assistance accessing their accounts.
  
  Regards,
  IBKR Client Services

• 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