To further add fuel to fire, I suggest them to lower commissions below that of IBKR. Old customers like me will be indifferent to IBKR if TSG lower the commission charges to the same level as IBKR, but to attract new customer, they must undercut competitor's price, so ceteris paribus, they need to lower their commission charges below IBKR's level.
Time to show our pricing power.
TSG must be thinking, how did they just got fked up by IBKR
Even if TSG give the same commission/margin rate as IBKR, I'd still prefer IBKR since I don't have to go through advisor. There's also the added benefit of fractional share under pure IBKR.
TSG main profitability is from the marked-up fee. If it's gone, there is no reason to stay in business. Quite sad actually since those at TSG will likely lose their jobs. TSG will be missed.
QUOTE(TOS @ Jul 10 2021, 08:55 AM)
To further add fuel to fire, I suggest them to lower commissions below that of IBKR. Old customers like me will be indifferent to IBKR if TSG lower the commission charges to the same level as IBKR, but to attract new customer, they must undercut competitor's price, so ceteris paribus, they need to lower their commission charges below IBKR's level.
Time to show our pricing power.
QUOTE(tehoice @ Jul 10 2021, 10:55 AM)
TSG must be thinking, how did they just got fked up by IBKR
Totally agree... their "international" affiliate, at least from what I see, relies on either (1) their capability to offer IBKR-like feature without the fees that come with IBKR and (2) their proprietary software that connects to IBKR, to "improve on" desktop app offered by IBKR out of box; and this have always allowed them to charge a premium on commissions as the user base are either there for their software, or for IBKR without the monthly fees by taking hit on the marked-up commissions. With what's happening I'm not sure what cards TSG will play - I also hope they don't go down as monopoly is always bad, but the reality is that the fittest will always have a higher chance to survive.
At this rate, maybe they will offer to match the commissions of IBKR but starts charging for their proprietary software, similar to the arrangements post-Brexit with IBKR UK <> IBKR IE transfers affecting TSG customers (at least on EU part of the world). I hope I'm wrong https://www.tradestation-international.com/...nsfer-complete/
QUOTE(tehoice @ Jul 10 2021, 10:53 AM)
wonderful! thanks so much, you're bravo as always.
I had a rather different steps compared to the ones shown here, double checked with TSG and they seem to have no idea of the changes for the steps after submitting the delinking form (probably because that's IBKR's job to do afterwards).
My steps are as follow: 1. Request delinking form from TSG - Fill in IB Account Number, Account Titile, Sign, Name, Date (all done electronically on PDF softcopy)
2. Email the signed & filled form back to TSG - They will acknowledge receipt and send it to IBKR on our behalf
3. Few hours later, IBKR sent an email requesting me to perform a verbal verification for the delinking request (must be done verbally, cannot done through email etc.) - Gave me a bunch of international numbers, i choose to called their US ones at: (00) 1 (866) 694-2757 - Proceed to call them, took them 1 minute to connect which is pretty impressive - Proceed to verbal verification, they requested for the following information: a. Reference ticket (from their email) b. Security questions x3 (when we created our account) c. Account title d. Account ID e. Full Name f. Mother's maiden name g. Advisor's name h. Date of birth i. Country of origin
- During the call, i checked with the IBKR customer support and they say that is all I have to do, now just have to wait until the delinking process to be completed - Delinking is processed during weekends, and can take up to 2 weekeneds (though TSG said it can take up to 1 month) - If you have a hard time calling them, you can email them to request for a call back (though you might need some patience)
4. Now I just have to wait and see, no further steps required.
-----
Not sure if I've missed anything or these are the new procedures, but I will only know after IBKR revert back to me.
Otherwise, for anyone interested, here's my video on this matter:
Hope this helps!
This post has been edited by Ziet Inv: Jul 10 2021, 01:05 PM
I had a rather different steps compared to the ones shown here, double checked with TSG and they seem to have no idea of the changes for the steps after submitting the delinking form (probably because that's IBKR's job to do afterwards).
My steps are as follow: 1. Request delinking form from TSG - Fill in IB Account Number, Account Titile, Sign, Name, Date (all done electronically on PDF softcopy)
2. Email the signed & filled form back to TSG - They will acknowledge receipt and send it to IBKR on our behalf
3. Few hours later, IBKR sent an email requesting me to perform a verbal verification for the delinking request (must be done verbally, cannot done through email etc.) - Gave me a bunch of international numbers, i choose to called their US ones at: (00) 1 (866) 694-2757 - Proceed to call them, took them 1 minute to connect which is pretty impressive - Proceed to verbal verification, they requested for the following information: a. Reference ticket (from their email) b. Security questions x3 (when we created our account) c. Account title d. Account ID e. Full Name f. Mother's maiden name g. Advisor's name h. Date of birth i. Country of origin
- During the call, i checked with the IBKR customer support and they say that is all I have to do, now just have to wait until the delinking process to be completed - Delinking is processed during weekends, and can take up to 2 weekeneds (though TSG said it can take up to 1 month) - If you have a hard time calling them, you can email them to request for a call back (though you might need some patience)
4. Now I just have to wait and see, no further steps required.
-----
Not sure if I've missed anything or these are the new procedures, but I will only know after IBKR revert back to me.
Otherwise, for anyone interested, here's my video on this matter:
I had a rather different steps compared to the ones shown here, double checked with TSG and they seem to have no idea of the changes for the steps after submitting the delinking form (probably because that's IBKR's job to do afterwards).
My steps are as follow: 1. Request delinking form from TSG - Fill in IB Account Number, Account Titile, Sign, Name, Date (all done electronically on PDF softcopy)
2. Email the signed & filled form back to TSG - They will acknowledge receipt and send it to IBKR on our behalf
3. Few hours later, IBKR sent an email requesting me to perform a verbal verification for the delinking request (must be done verbally, cannot done through email etc.) - Gave me a bunch of international numbers, i choose to called their US ones at: (00) 1 (866) 694-2757 - Proceed to call them, took them 1 minute to connect which is pretty impressive - Proceed to verbal verification, they requested for the following information: a. Reference ticket (from their email) b. Security questions x3 (when we created our account) c. Account title d. Account ID e. Full Name f. Mother's maiden name g. Advisor's name h. Date of birth i. Country of origin
- During the call, i checked with the IBKR customer support and they say that is all I have to do, now just have to wait until the delinking process to be completed - Delinking is processed during weekends, and can take up to 2 weekeneds (though TSG said it can take up to 1 month) - If you have a hard time calling them, you can email them to request for a call back (though you might need some patience)
4. Now I just have to wait and see, no further steps required.
-----
Not sure if I've missed anything or these are the new procedures, but I will only know after IBKR revert back to me.
Otherwise, for anyone interested, here's my video on this matter:
Hope this helps!
Wah shit, don't remember what I put for Mother's maiden name, I think back then I don't even know the meaning of maiden or did they even ask me...
i edit online, easy piece of cake, just fill up form and email to both parties activity statement will be from IBKR directly
Wow seems like you did not go through as much steps as Ziet Invest. Did they ask you to call them for verbal confirmation? If yes, what time did you call them? Since their timezone is US based
Ibkr is worth the switch just for the low interest rates and margin.
I have a portfolio margin with a maintenance margin of circa 18%. Mighty useful and it's where i draw for emergency or when opportunities pop up.
Hi I also under portfolio margin account. I never withdraw before… May I know the amount in ExLiq is the total amount that we can withdraw without affecting the holding position?
I delink from TSG more than a year ago after I found out that i trade more often than I thought and the monthly trading fees was way higher than inactivity fees. Yes, Need to fill and return a form. But I don’t recall a call is required? Maybe this is a new process now. Anyway… I was facing the same problem that you guys are wondering … how would u know that your account has been converted to IKBR PRO… there won’t be any notification or email confirmation… I had to place order to confirm it… cos your trading fee will be much lower once done… 😁 the next improvement I hope to get from IBKR is… I hope they waive live quote fee… come on this is really disappointing that u need to pay to see live quotes while most of other broker are giving it free…. Overall IBKR is still the best! Enjoy trading guys welcome to IKBR Pro and hope u make plenty of money here. 🎉
This post has been edited by Solskjaer66: Jul 10 2021, 10:13 PM
I delink from TSG more than a year ago after I found i trade more often than I thought and the monthly trading fees was way higher than inactivity fees. Yes. Need to fill and return a form. But I don’t recall a call is required? Maybe this is a new process now. Anyway… I was facing a same problem that you guys are wondering … how u know that your account has been converted to IKBR PRO… there won’t be any notification or email confirmation… I had to place order to confirm it… cos your trading fee will be much lower once done… 😁 the next improvement I hope to get from IBKR is… I hope they waive live quote fee… come on this is really disappointing that u need to pay to see live quotes while most of other broker are giving it free…. Overall IBKR is still the best! Enjoy trading guys welcome to IKBR Pro and hope u make plenty of money here. 🎉
Good question there, honestly I've been wondering also (but I'm still waiting to see if there's any updates from IBKR for delinking confirmation or anything).
But for now, can preview a trade and see the commission fee I suppose