Charles Schwab's thinkorswim trading platform experienced technical troubles shortly after the stock market opened Friday, sparking angry comments from customers on social media.
The outage monitoring site Downdetector logged over 5,500 problems reports related to thinkorswim around 9:45 a.m. Eastern Daylight Time, mostly related to trading and brokerage, followed by login issues. The reports for the platform, which Schwab acquired when it purchased TD Ameritrade, had declined to roughly 2,600 a few minutes later and to 1,880 around 10 a.m.
"Some clients may be experiencing intermittent difficulty logging in to thinkorswim mobile," a Schwab spokesperson told ThinkAdvisor by email. "For all trading needs clients can log in to Schwab.com and the Schwab mobile app. Our teams are actively working to resolve the issue as quickly as possible. We apologize for any inconvenience."
Thinkorswim users expressed frustration social media.
"Broke right after placing a buy on a rising stock... then ... had to scramble to log in with the regular Schwab app to sell after the price started falling... by the time I was able to sell I had lost over $300. Glad I didn't have a bigger stake involved at that moment! Still down after 30 minutes, guess I'll skip trading this morning," a Downdetector user posted on a message board.
"You are unreliable in times of increased market flow @CharlesSchwab," an X user posted at 9:39.
Another posted, "I had to log onto Charles Schwab website to close out some of my positions. Last time i traded using a webpage was back in 2005."
Image: Adobe Stock
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