Every now and again there comes a comment like this and it’s a massive over reaction and simply a false statement. Is it practical to go ahead and find another broker every time you experience an outage?
Yet you know they won’t leave and will be the first to over react with future issues.
It’s not the outage that concerns me. It’s the lack of transparency, the fact it took hours of posting on this message board before getting even a simple response, and that here we are, still no statement, comment, or hope of any resolution on the horizon.
It’s communication and trust that interests me when I am trusting a company with my money.
I’d rather they spend the time fixing the problem first and then communicating after. Any normal business would raise an incident and get it resolved first. After this point there would be a problem management process to do a root cause analysis of why it happened and how to mitigate the issue from happening again. Expected detailed transparency in real time is not practical
I’ve been trading for years. I was with Alpari during the Swiss peg crash in 2015 and lost everything I had with them - it took me nearly a year to get it back. But, it was fine, why? Because the company dealt with it well and kept their customers well informed right from the outset.
I don’t know how many times I have to say on this thread - it’s not the outage so much, it’s FT’s handling of it.
AJ Bell, Hargreaves Lansdown, Fidelity UK, Charles Schwab, TD Ameritrade, Merrill Edge, and Interactive Brokers all had major outages last November.
That’s a very disingenuous comment where I doubt many people share your sentiment.
There are different departments who deal with these things. It’s not either fix it, or tell people about it. You communicate as you go on. You let the client know where you are in your investigations. It’s how you build and maintain trust.
How transparent were those services during the issues though? And if they were also light on information, does that make it ok? A simple ‘We aim to have it resolved by close of business’ wouldn’t go amiss.
Do you mean like this…
Ah yes ‘shortly’ o’clock.
Its been ‘shortly’ since 8am when I was first sent that message by one of the people on the app chat. Without the option to respond / ask questions.
I think you are stretching the point trying to blame FT for problems caused during the Gamestop debacle.
Understand the pain of someone having an issue and having money at stake. But can we have patience for an official response instead of spamming this thread, please.
Seems like many are expecting a full written congressional testimony several hours after experiencing any issue.
Personally, would prefer people with the first hand knowledge of an ongoing issue to be laser! focused on resolving it and more detailed debriefing after the issue is closed.
Most other brokers don’t even have a public forum to engage with customers. Let alone top executives replying.
Surely FT will come out on top as always as has been proven many times already.
No one’s asked for that. We just want at least a clue as to when we can expect resolution.
Could you point out to the issue you were experiencing on the 18th Feb, please?
The community can than try to reply if the details have been shared already or let the FT staff engage if there is no proper response.
Any major issue I have seen so far has been answered with an explanation and the solution that was put in place.
Thanks for raising this! Will look into this. Sorry for the issues you are experiencing would also be furious if my money was involved.
Thank you - specific ask for me is - I have funds showing as reserved cash because a buy is pending cancellation. That’s what I need to be resolved - as I am hoping to invest those funds in other stocks today.
Don’t give ideas to producers of big brother type of shows