Retail brokerages keep breaking
(REUTERS/Patrick T. Fallon)
Brokerage and banking service Charles Schwab was down for about an hour before the market open Friday morning.
Traders posting on Twitter and Facebook said they could not log into their accounts on the web or mobile app.
Charles Schwab responded to the complaints on Twitter, referring to the glitch as a "systems issue" and "an internal technical issue."
In a 9:28 a.m. tweet, the firm announced that "Schwab sites experienced issues this morning but are now back online. Clients should be able to log in as normal."
Friday's problems follow a similar glitch at TD Ameritrade on Monday.
Customers of that online brokerage reported trouble accessing their accounts. TD Ameritrade said it had been "seeing industry-wide latency issues," according to MarketWatch.
On Twitter, TD Ameritrade attributed the problems to "historic volume and industry issues."
Discount brokerage Scottrade also faced technical glitches earlier this week, according to CNBC.
The brokerage glitches come amidst a week of extreme market volatility.
On Monday, the Dow lost more than 500 points, closing at 15,871.35, while the S&P 500 officially tipped into "correction" territory. By Thursday's closing bell, the Dow was back up to 16,655 and crude oil prices saw their biggest one-day gain since 2008.
A Charles Schwab spokesperson told Business Insider: "Due to an internal technical issue that impacted online channels, clients were unable to login to their accounts early this morning before the markets opened. They were able to access accounts through our service centers or branches. Service was restored prior to market open."
Here's what people were saying about Charles Schwab's issues on Twitter Friday morning:
Schwab sites experienced issues this morning but are now back online. Clients should be able to log in as normal.
— Charles Schwab Corp (@CharlesSchwab) August 28, 2015
@GeraldFay Yes, sites are back up. Thanks for hanging in there with us.
— Charles Schwab Corp (@CharlesSchwab) August 28, 2015
@SchwabService I haven't been able to log into my Schwab account for the past hour. What's up?
— Barth (@barthbazyluk) August 28, 2015
@CharlesSchwab @SchwabService What’s going on with the site? When can we expect it to work again?
— Jo (@josendotweets) August 28, 2015
@jsl_13 Yes, we are having a systems issue this morning. For now, pls call 800-435-4000 for any urgent matters.
— Charles Schwab Corp (@CharlesSchwab) August 28, 2015
@StocksThatDoubl We're having systems issues & are asking clients to call 800-435-4000. We'll post a note when it's resolved.
— Charles Schwab Corp (@CharlesSchwab) August 28, 2015
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