SJCIG
BE CAREFUL USING IB PLATFORM!!
I used their demo account to learn the platform for the last 3 months and deposited $5,000 and entered my first live trade on 07/17/2024. Just to play it safe on my first day, I bought 2 micro contracts and once it reached my profit target, I pressed CANCEL/EXIT button to close the trade. However, the system froze on me, so I click 4 more times but nothing happened. So I decided to refresh the page and log in again but then I saw my winning trade has turned into a losing trade. I panicked and called the help desk and Raymond Grignon from Business Development answered and he told me that I pressed CANCEL/EXIT button too many times and in result, it opened up a 4 new trades without me knowing and I was down -$150. Basically pressing Cancel/Exit button should not open up any new trades. And no user should be penalized for pressing Cancel/Exit repeatedly while trading. This is absurd and unheard of. Plus, when using a demo version, I did not experience this problem. I was repeatdley pressing EXIT/CANCEL button on the DEMO version and it didn't open a new trade. Moving forward, He did admit that this was their system glitch and refunded my commission for the day. (Also, he never explained that refund was an one time curtesy unlike the below response from Ironbeam) Ultimately, they declined to refund -$150 which I think its just wrong. Glad I bought Micro contracts instead Mini or I would've lost 30% ($1,500) of my capital on my first day of trading for trying out their outdated platform. Currently I requested a withdrawal 2 weeks ago but I still haven't received my check yet. Ironbeam offers free level 1 data, but I would rather pay $9-12 monthly data fee and get free ACH from a different broker because in addition to their outdated platform, 2+weeks is too long to get paid. Sure Ironbeam offers Level 2 Data worth $40 for free ,but eventually you'll spend more than $40 to utilize their wire transfer service because check by mail will hardly be delivered on time. Theres $45 fee to cancel the existing check and another $40 fee for Wire transfer. So if you can't wait another 30 days for ironbeam to reissue your check, you need to pay $85 in fees to utilize their wire transfer service. Also, if Ironbeam cannot guarantee a delivery date, then at least provide a tracking number to your clients. I dont appreciate "We Sent it so We dont Know It" kinda attitude when people need their checks within a reasonable time frame.
Response from Ironbeam FuturesAug 2, 2024
Hey Sean, When you have one click trading enabled, if you click a trade button multiple times, it will send multiple orders. This includes the Exit/Cancel button. If you click it many times before your order is filled, the platform is going to continue to do as asked and send orders to exit your trade. This is how one click trading works. One click trading is recommended for experienced traders. There is certainly no glitch in our trading system, and we refunded you your commissions for the day with the understanding that it was a one-time courtesy to the fact that you didn't fully understand how the Exit/Cancel and one-click trading feature works. This was explained to you at the time of the credit. Ironbeam offers not only free level 1 data, but also level 2, as $39/month value! For assistance with withdrawals, we recommend reaching out to us as posting here is not the fastest way to get support. We are open 24 hours a day and you can reach a human at any time by calling 312-765-7250. Withdrawals are processed same day, including the one you requested. Since you chose to withdraw via mail by check, we don't have guaranteed date for you that the check will arrive in the mail at you address. Have a great weekend, The Ironbeam Team




