Technology is great when it works. When it goes down, well things can suck. Especially in the brokerage business.
Popular Fintech Robinhood is having a very bad day as it falls into the latter category with a systemwide failure.
A trip to the Robinhood website renders a blank page.
Robinhood’s Twitter account shares the obvious.
Our system is experiencing downtime issues that are affecting all functionalities on our platform. We are aware of the issue and are working to have all systems up and running as soon as we can. We’re so sorry this is happening!
— Robinhood Help (@AskRobinhood) March 2, 2020
Little solace if you are looking to complete a trade as markets bounce back.
Robinhood users took to Twitter to lament the huge fail:
This is a major concern, a platform this big can’t be down for an hour and a half plus during market hours…
— Paul (@ITtraderNY) March 2, 2020
Robinhood is gonna lose 4-5 million users because of this horrible situation your putting Investor’s & traders into. We can’t trade our money or have access to our money. This is a critical time in the markets and you guys FAILED to execute. I need to hear a response
— EMoney (@E_AllTheWay) March 2, 2020
The outage will certainly have customers considering other options. The big winners today are ETrade, Schwab, etc. Certainly not Robinhood users. Has Robinhood ever heard of redundant systems?