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Schwab website screw-up today.

CrashCrash
in Other Investing
Yesterday and today, Markets falling out of bed. So, change of plan. Cancel one order, want to execute another. The $$$ from the canceled order shows, but my tradable funds shows ZERO. Shit. I'm on with the chat rep. And SHE is on hold, trying to get to the "Clearing Team." (LOL.) So, she can do no more than wait. Screwed up system, much? ......OK, it was MANUALLY done. Decent response time. But when time matters..... Oy.

Comments

  • yogibearbullyogibearbull
    Balance screen may update overnight only. If you cancelled an order, and if the system allows it, you can buy with those funds. I have margin, so these transient issues don't arise - there won't be a margin impact.
  • CrashCrash
    yogibearbull said:

    Balance screen may update overnight only. If you cancelled an order, and if the system allows it, you can buy with those funds. I have margin, so these transient issues don't arise - there won't be a margin impact.

    +1. Gotcha. They fixed it.:) I choose not to play with margins and puts and calls. I'm a simple guy. Appreciate the reply.
  • rforno
    yogibearbull said:

    Balance screen may update overnight only. If you cancelled an order, and if the system allows it, you can buy with those funds. I have margin, so these transient issues don't arise - there won't be a margin impact.

    This. I had a bunch of positions showing NA cost bases because they were being DRIP'd and their system didn't update until the next day. after the div was received/reinvested.
  • hank
    edited August 2
    Fido’s site was uncharacteristicly slow when I placed several orders shortly after the open today. Maybe a lot of “dippers” scooping things up? (I lightened up on NSRGY which was up 4% out of the gate but has since backed off to 3%.)
  • CrashCrash
    hank said:

    Fido’s site was uncharacteristicly slow when I placed several orders shortly after the open today. Maybe a lot of “dippers” scooping things up?

    Gotta be. System would not keep up. That's why my money had to be freed-up MANUALLY.
  • stayCalm
    Schwab is down today AM. So yea...that says it all about the decrepit infra.
  • johnNjohnN
    Vang too cannot login
  • rforno
    edited August 5
    Schwab website down .... but the ThinkorSwim platform has been fine, thankfully.

    Edit: Just got in
  • johnNjohnN
    vix crushed
  • MikeMMikeM
    I couldn't get into Schwab either this A.M., but I'm taking it as a divine sign to not try and catch a falling knife:)
  • johnNjohnN
    Cannt get in apps nor websites vang
  • stayCalm
    Major market selloff then underway is what I assume
  • Mona
    No go.
  • JD_co
    Schwab total fail. STILL can't login. No bueno.

    C'est dommage.
  • BaluBalu
    edited August 5
    Is Fidelity ATP having trouble too?

    At Fidelity, all my resting GTC limit orders were automatically cancelled pre- market. Is this a new thing that you are not allowed these orders in panic markets?
  • Old_JoeOld_Joe
    No problem getting into Schwab just now. Per WSJ- hardly a "crash", but certainly a tech correction:

    S&P 500 -2.02%
    DJIA -1.92%

    Technology -4.63%

    DJT -8.56%
  • msf
    Is Fidelity ATP having trouble too?
    Outage tracking website Downdetector.com reported that Schwab’s services were down for over 3,400 users, while Fidelity’s issues peaked at over 3,500 reports. Vanguard wasn’t immune either, with nearly 2,500 users reporting outages.
    https://www.msn.com/en-us/money/markets/what-happened-with-charles-schwab-what-effect-was-there-on-investments/ar-AA1ogQln
  • BaluBalu
    Thanks. I reactivated all three modes of access at Schwab and Fidelity, though I primarily use the website on my computer.

    Check order status before placing re-orders to eliminate duplicate orders. I do not know if there is any fool proof system.

    Stay focused.

    Good luck.
  • Observant1
    edited August 6
    "Customers of Charles Schwab, Fidelity, Vanguard, and other large brokerage firms complained about
    log-in troubles Monday morning that left them unable to access their accounts amid a global stock market selloff."

    https://www.msn.com/en-us/money/savingandinvesting/charles-schwab-fidelity-vanguard-customers-report-log-in-troubles-as-stocks-plummet/ar-AA1ogAKs
  • larryB
    If you doing your banking at Schwab bank you lose access to doing any online business with Schwab.com or app is down. It’s happened twice recently. We will be transitioning to a brick and mortar for this and other problems with the no longer reliable Schwab.
  • Old_JoeOld_Joe
    Yeah, for sure banks never go down. /sarc
  • larryB
    Hey Old Joe,,, I get that for sure. I just have concluded that having my banking and all the rest tied to a single website is too much simplification and not enough diversification.
  • CrashCrash
    Ya, we have accts. at a couple of different credit unions on the island. We use them as different savings-sleeves for different goals. Plus, if Schwab goes down, we can do x, y or z at the other places.
  • rforno
    larryB said:

    Hey Old Joe,,, I get that for sure. I just have concluded that having my banking and all the rest tied to a single website is too much simplification and not enough diversification.

    Agree completely! Tempting as it might be to go all-in-one, I can't, given my career background, go that far unless I had to for some reason (eg, medical reasons, old age, etc.) 'Resiliency' and 'single point of failure' are never far from my mind ... and I prefer to keep 'banking' separate from 'investing' whenever possible.
  • hank
    edited August 8
    Resisted having all investments in single brokerage until my age reached the late 70s. Today - ”In Fido We Trust”. But have other options if in need of fast cash like a local CU & bank where pension & social security are first deposited. Fortunately the local bank provides exceptional lobby & phone availability. Always easy to speak with a concerned knowledgeable rep during business hours including Saturday mornings. They haven’t yet joined in the rush to automated voice interaction. Thank the lord! Helps the BP. Though the lack of interest paid hurts the PB (pocketbook).
  • Old_JoeOld_Joe
    Yes, I certainly agree about single point-of-failure situations, and I also maintain secondary banking access to JPM. Good points. Also, a little bit different here, as both JPM and Schwab are about one block away.
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