Umbrella pedestrians walk behind the Charles Schwab office fee in New York.
Scott Iles | Bloomberg | Getty Images
Shares are bullish on Monday but kers online brokers Charles Schwab, TD Ameritrade, Vanguard and several other clients may lose ground in record markets.
E-brokers are experiencing technical problems with their trading systems while the Dow Jones Industrial Average and the S&P 500 have hit an all-time high with optimism surrounding the Covid-19 vaccine. It was still unclear how many brokers’ clients were unable to access and trade on time.
“Due to a technical problem, customers may have difficulty logging in to the http://schwab.com website and mobile applications. We are working to resolve this issue as quickly as possible. The catch time may be longer than usual.” Randy Frederick, president of Schwab Vice Trading and Derivatives, tweeted shortly after the initial llnt.
US equity has risen after pharmaceutical giant Pfizer and German biotech company Bioentech announced that their Covid-19 vaccine is more than 90% effective in preventing Covid-19 during testing. The Dow Jones Industrial Average traded above 1,300 points, or 4.7%, and reached an all-time high. The S&P 500 also reached a record high of more than 3.5%.
“Our applications have login count queries. Until this is resolved, please use a browser and log in to https://invest.ameritrade.com or use our TOS desktop platform. We appreciate your patience, TD AmericaTrade tweeted from his company Twitter account
Vanguard tweeted that some customers were having trouble accessing their accounts. Loyalty said it was “experiencing high volumes this morning that affected the speed of the process.”
Robinhood’s status remained “operational” according to the company’s website, however, some Robinhood customers tweeted on Monday about issues with the app.
Retail investors in Robinhood, Fidelity and Schwab have been excluded from major market days several times this year. During record market volatility in March, stock-trading sites and apps experienced a day-long outage. Customers are taking to Twitter on Monday to express their frustration with the outage.
Interactive brokers do not seem to have technical problems.
Schwab said technical issues have been resolved around noon.
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