Charles Schwab and E-Trade experienced more technical issues with their online trading platforms to kick off the week.
On Monday, Schwab’s trading platform experienced a problem that prevented at least some brokers and investors from being able to see their account information, including trades that were just made, before being resolved later in the day.
“Some Schwab applications experienced technical issues early this morning, which have now been resolved,” a company spokesperson said Monday evening.
“We have been working with affected clients to address their questions as quickly as possible,” he told ThinkAdvisor, adding: “We apologize for any inconvenience this may have caused.”
In this case, “the problem was due to a faulty mainframe connection and we have taken steps to remedy the issue,” he said.
All was fine Tuesday morning, he said, telling ThinkAdvisor: “After inquiring with our teams, we have no reported issues with our platform today.”
However, there was a complaint on Downdetector.com Tuesday morning by somebody claiming to be a Schwab client that its StreetSmart Central site was “still not working.”
Many investors claiming to be users of Schwab’s trading platform complained on Downdetector.com and Twitter Monday morning about an inability to see confirmation of trades they had just made or other account info and, in some cases, that they had issues logging in.
One disgruntled investor tweeted at 11:23 a.m. ET: “Totally unacceptable! I am now strongly considering transferring all of my accounts to another brokerage – this is the second time in the last few months! How do you run a company this way?”