What You Need to Know
- There were 715 reports of issues with the Schwab trading platform on Downdetector.com Monday morning.
- An intermittent issue impacted some users of Schwab's mobile app for about 30 minutes and was resolved, a company spokesperson said.
- Glitches and outages have plagued multiple trading platforms over the past two years.
Investors took to Twitter and Downdetector.com on Monday morning to complain they were unable to trade stocks on the Charles Schwab platform due to a technical glitch — the latest of several that have plagued Schwab and other firms over the past two years.
There were 715 reports of issues with the Schwab trading platform on Downdetector.com Monday morning, with many of the complaints made between 9:16 a.m. and 10:16 a.m.
“An earlier intermittent issue which impacted some users of our mobile app for about 30 minutes has been resolved,” Schwab spokesperson Mayura Hooper told ThinkAdvisor just before 12:30 p.m. on Monday. She declined to elaborate on the issue and what caused it.
“Other Schwab platforms including our website were not impacted,” she said, adding: “We apologize to our clients for any inconvenience.”
However, one person complaining tweeted: “Even your website is down and you expect me to pay 7$ per trade on otc when you’re costing me thousands. Switching after this bs.”
At least a couple of investors said they received an error message while using the Schwab platform that said: “This feature is temporarily unavailable. However, other app services may still be accessible. Please try again later.”