E-Trade is Down and Day Traders Are Freaking Out
Day traders hoping to play the market using E-Trade Thursday morning found themselves scrambling for alternatives when the site suffered technical difficulties that prevented at least some users from making trades.
Users said they were unable to cover orders or execute any trades. The outage, which was ongoing as of late Thursday morning, is occurring at the same time that stocks are giving back recent gains. At 10:40 a.m. ET, the Dow Jones Industrial Average was off 106 points.
A message posted to users on the site at 10:03 a.m. ET read, “We are currently experiencing technical difficulties and are working to resolve the issue as quickly as possible. We apologize for any inconvenience.” The company has not acknowledged the issue on social media channels, though. And the system-wide notice apparently went out long after users began complaining about the issue.
On social media, many customers soundly rejected the apology.
A representative from E-Trade told Fortune that the company is working swiftly to resolve the problem.
E-Trade ended its most recent fiscal quarter with customer assets totaling $365.3 billion. As of the end of last year, it had approximately 3.6 million brokerage accounts.