Robinhood, Schwab, TD Ameritrade, Vanguard Suffer Online Outages 

September 1, 2020

Outages hit at least four online brokerages on Monday morning, according to news reports. 

Twitter users complained about access issues on Vanguard, Charles Schwab, TD Ameritrade and zero-commission brokerage Robinhood, FA-IQ sister publication Ignites writes. 

A spokesperson for Vanguard confirmed to Ignites that the company’s website as well as its phone platform experienced “intermittent connectivity issues.” 

Schwab tweeted that its website “may be intermittently inaccessible for some of its customers, “due to a technical issue,” and that its phone support may take longer than normal, according to the publication.

TD Ameritrade replied to Twitter users about their issues, saying that many users were experiencing delays on the firm’s website and mobile app, Ignites writes.

Robinhood told the publication in an email that some of its customers experienced delays with order status updates related to equities, options and cryptocurrency trading, but by 12:10 p.m yesterday., the company reported the problem as fixed, according to the publication.

E*Trade users have also tweeted about issues accessing the website, Ignites writes. The company didn’t respond to the publication’s request for comment. As of Tuesday morning, its Twitter feed didn’t mention any access issues.

Thousands of online brokerage users appear to have been affected, Bloomberg writes. The website reported more than 7,000 complaints for TD Ameritrade and more than 2,900 complaints for Robinhood, according to the news service.

TD Ameritrade, Vanguard, Schwab and Robinhood said on Monday afternoon that the glitches have since been fixed, according to Bloomberg. The cause of the disruptions was not immediately made clear, the news service writes.

Robinhood, meanwhile, is also facing an investigation by the SEC as well as Finra into how it handled outages on its platform in March, according to Bloomberg, which cites people familiar with the probe who asked not to be named. 

Both the SEC and Finra, as well as a Robinhood spokesman declined comment to the news service. 

Robinhood’s platform experienced several outages this March, including on the days of some of the biggest market moves. The company is also facing several lawsuits related to the outage. 

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By Alex Padalka
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