Told the Hold Would Be One Time—Now It's Every Month
I signed up with Interactive Brokers and set up an automatic deposit and investment schedule. On my very first deposit, I was told the 4-day hold would only happen once. They said it was a security measure for new accounts, and after that, everything would work automatically. That was a lie. Every single month, my deposit is placed on hold for 4 to 7 days. Every single month, my auto-buy is skipped because the cash isn't settled in time. Every single month, I have to manually trade my positions, completely defeating the purpose of having an automated system. When I try to contact them to ask why this keeps happening, I'm funneled into an automated system that doesn't let me describe my issue. I select the deposit, and that's it. There's no place to explain what is going wrong or ask for a human to look at it. This is not a security issue. This is a complete lack of support for small investors. If I had a large account, I guarantee this would not be happening. But because I'm investing $210 a month, they treat me like a nuisance. I was told this would stop after the first month. Three months later, it is still happening, and I cannot reach anyone to fix it.