Interactive Brokers weird behavior

Investing / Brokers
1

Hi guys,

I wanted to ask you your advice regarding some odd stuff from IB.

I’ll try my best to explain what happened:

2021.12.30 I re-opened my account at IB and made an initial deposit of about xxx EUR.

2021.12.31 My transfer arrived and was converted into USD (I didn’t ask for it).

2022.01.13 I opened a ticket asking why this had happened (not requesting to revert it)

2022.01.21 I bought some VTs (as Mustachians do) for about a third of my now USDs and left some limit trades to buy more VTs in the future.

2022.01.27 IB cancelled my trades and unilaterally sold my remaining USD back into EUR.

2022.01.28 IB finally responded to my ticket of 2022.01.13 acknowledging the problem with my deposit and saying they traded my USD back to EUR so that my global position was in line with my initial deposit in EUR.

I still have my VTs but today (2022.01.28) my cash position in EUR is about -500 USD of what I had before they operated yesterday (2022.01.27).

This is probably due to the fact that the USD has been appreciating against the EUR in January but I don’t think this is really fair as they operated (FOREX) without my consent (twice) and the last time almost a month after they’d messed up with my initial deposit.

To add insult to injury, my global position is about -300 EUR short of my initial deposit.

What do you guys think?

Thanks,

Javier

2

I think I would talk about this with customer service representative and while they have the case open, I would not do any trades.

3

Well VT also dropped in those 7 days, so probably not the forex transactions to blame.

4

Yes, I understand but…

The way I see it they don’t do anything with the VTs (because they have depreciated) but they trade back the remaining USD to EUR because they’ve gone up and it’s in their interest to do so.

All of this without my consent 28 days later (like the movie).