"I haven't looked for some time however my understanding was their restrictions applied to their margin facility."
Margin restriction of 0% was applied last year around Aug/Sept I think and only applies to ASX. Something to do with non compliance to a rule change made by ASIC 2010
Whether that has or hasn't been resolved yet I don't know, since my own margin account isn't impacted.
"Timber Hill as Principal yet the public's agreement was separate with IB only, meaning you never actually have a direct agreement with the company responsible for your money. Has that changed?"
I think Timber Hill are a subsidiary and they are trade execution, from my understanding no capital is actually held by them.
From memory all agreements I signed are with IB.
For me IB has been an excellent platform for trading and I've never had a single problem with them, their trading platform, order options and brokerage fees are second to none imho.
However that doesn't say I trust them completely, hence I also have two other overseas brokers to manage my long term investments/holdings.
After blowing trading accounts twice within 20 years trading/investing (mainly due to poor capital management), I now protect capital like a fat chick with a plate of doughnuts.
Part of that capital management, means not risking capital/trades to poor trading platforms with poor reliability, speed and limtied order options.
