Robinhood, Schwab, Vanguard Clients Facing Trading Problems
(Bloomberg) — Online brokerages grappled with trading problems on their platforms Monday, leaving customers venting frustration online.
Robinhood Markets, Charles Schwab Corp., TD Ameritrade Holding Corp. and Vanguard Group were among companies on Monday that confirmed problems ranging from delays in order updates to trouble accessing websites. Thousands of issues for the firms were reported on Downdetector.
The problems come in a year when retail trading has surged. Although brokerages experience brief outages regularly, it’s rarer to see several happen at once. Downdetector listed more than 2,900 problems for Robinhood and more than 7,000 for TDAmeritrade.
Robinhood’s issues related to equities, options and cryptocurrency trading and the company said it’s working to resolve them.
“Some users are experiencing issues with delayed order status updates,” the company said on its website Monday. “These are display issues only, and should not impact order execution. We are working to resolve this as soon as possible.”
A Robinhood spokesperson confirmed the problems on Monday.
Regulatory agencies are investigating the company’s handling of an outage in March, Bloomberg reported Monday.
Charles Schwab Corp. says its website may be intermittently inaccessible for some clients.
“We are aware of an intermittent issue that some clients may be having this morning with accessing our website,” Schwab said in a statement. “We are working rapidly to resolve the issue and apologize to our clients for the inconvenience. We are asking our clients to try and log in using the mobile app.”
Vanguard is experiencing “intermittent connectivity issues impacting our websites and phones,” a spokeswoman said in a statement.
A representative for TD Ameritrade said many clients were experiencing slowness on its web and mobile platforms.
(Adds comment from Vanguard, TD in final two paragraphs.)
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