TD Ameritrade Brexit outage: Twitter outrage


27 June, AtoZForex – On Thursday Britons shocked the world with the referendum results showing the decision to leave the European Union, which the country have joined nearly 40 years ago. This unexpected news triggered the chain reaction within the financial markets and the brokers had to deal with the consequences. One of such issues got to the surface on Friday when the Twitter was flooded with angry commentaries about TD Ameritrade Brexit outage. The trading platform of the broker was off for about an hour, causing damage to the public image of the firm.

TD Ameritrade Brexit outage reasons

TD Ameritrade is an American online brokerage firm. The company offers include online stock trading, investment, and online brokerage services. According to the company’s data in September 2015, TD Ameritrade had 6,621,000 funded client accounts and customers assets equal to $667.4 billion.

While the retail FX and CFD industry did not experience such disturbances, the Brexit referendum caused a massive spike in trading volumes all over the world. The TD Ameritrade was not an exception this time.

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On Friday clients of the firm outraged on Twitter, tagging the broker in complaints about TD Ameritrade Brexit outage. The tweets containing negative comments about the level of service and clients being unable to login to their accounts flooded the feed of the firm. According to the tweets, customers were not able to close their existing positions or enter the new ones, while the market was offering a lot of trading opportunities. However, the company was getting to the clients updating them on the status of the website.

Current state of TD Ameritrade‘s platform

The TD Ameritrade spokesperson described the current state of the issue later that day:

“This morning’s heavy volumes across the industry caused some brief messaging and login delays. Everything is now functioning normally.”

As mentioned before the client issues were redirected to the customer support service. As a result, the market was rebalanced after having liquidity issues due to the difficult trading conditions. Despite the turbulence in the market conditions, the systems of retail Forex brokers and CFD trading industry have navigated very well through the after-Brexit situation. The brokers and their technology providers were well-prepared to deal with the extra flows with increased margin requirements and additional extra capacity for handling the difficult conditions.

See also: Forex Market after Brexit

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