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IB is not formally responsible for your Stop or Limit orders

I must agree with most of the negative comments I’ve read here.

It has been more than 5 years for me at IB. I’ve used their Forex frontend and had to just give up. There’s too many other better alternatives (try MB’s new MetaTrader frontend for forex).

My trading has been in stocks for the most part, and all the ills mentioned before are true.

One thing that is a MUST know for any of you who is thinking about a new account is the fact that IB has officially took a stand that they are not responsible for your (Stops, or Limit) orders. In other words, I was recently notified that they would not necessarily fill my ‘buy stop’ placed on a short position.

If you don’t use a hard stop this is fine, but if you would like to buy something and place a stop, and go play, you may be unhappy with what you find on returning. How do I know? It has indeed happen to me. The stop was not filled, but price was very much past it, and the stop was still active in the software. This and similar problems has happened many times.
So, when they warned of not honoring a stop, they meant it!

The low commissions sound great, but you’ll do better shopping elsewhere.