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New York Interest > Blog > Business > Users of online trading platforms report outages
Business

Users of online trading platforms report outages

NewYork Interest Team
Last updated: August 6, 2024 3:37 am
NewYork Interest Team
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Users of online trading platforms report outages
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Several major online trading platforms were down Monday as Wall Street suffered a massive meltdown, according to outage tracking website Downdetector.com.

Charles Schwab, Fidelity Investments and TD Ameritrade were among those impacted, the site showed.


Fidelity user reported outages.
Fidelity user reported outages. Christopher Sadowski

Users of another brokerage firm, Vanguard, reported that they were unable to log into the software.
Users of another brokerage firm, Vanguard, reported that they were unable to log into the software. SOPA Images/LightRocket via Getty Images

A glance at Downdetector.com shows that there were more than 15,000 reported outages at Charles Schwab, nearly 3,200 at Fidelity Investments and more than 2,800 users reported issues with Vanguard.

The Post has sought comment from Charles Schwab, Vanguard, Fidelity, Ameritrade and E-Trade.

Just before 10 a.m. Eastern Time, more than 14,000 users reported an outage at Schwab, according to Downdetector.

Due to a technical issue, some clients may have difficulty logging in to Schwab platforms.
Please accept our apologies as our teams work to resolve the issue as quickly as possible.
Hold times may be longer than usual.

— Charles Schwab Corp (@CharlesSchwab) August 5, 2024

On its X social media account, Schwab said that some of its clients “may have difficulty logging in to Schwab platforms.”

“Please accept our apologies as our teams work to resolve the issue as quickly as possible,” the company said.

More than two hours later, Schwab and Fidelity resolved the technical issues with their apps.

Schwab had 35.6 million active brokerage accounts as of June, according to Bloomberg News.

Fidelity also wrote on its X account: “We are aware some customers may be experiencing issues logging in. We are working urgently to resolve this and apologize for the inconvenience.”

The Securities and Exchange Commission was tracking the developments, a spokesperson for the regulator told Reuters.

“We are actively monitoring for the orderly functioning of markets,” the spokesperson said.

This is a developing story, please refresh for updates.



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