Robinhood Crippled by “Major Outage” But Reports Partial Recovery

Robinhood on Thursday reported technical issues that kept clients from trading Equities Equities Equities can be characterized as stocks or shares in a company that investors can buy or sell. When you buy a stock, you are in essence buying an equity, becoming a partial owner of shares in a specific company or fund.However, equities do not pay a fixed interest rate, and as such are not considered guaranteed income. As such, equity markets are often associated with risk.When a company issues bonds, it’s taking loans from buyers. When a company offers shares, on the other hand, it’s selling pa Equities can be characterized as stocks or shares in a company that investors can buy or sell. When you buy a stock, you are in essence buying an equity, becoming a partial owner of shares in a specific company or fund.However, equities do not pay a fixed interest rate, and as such are not considered guaranteed income. As such, equity markets are often associated with risk.When a company issues bonds, it’s taking loans from buyers. When a company offers shares, on the other hand, it’s selling pa Read this Term, options and also affected cryptocurrency trades.

“We’re currently experiencing issues with our services and are investigating the issue. We’ll update the status page with the latest https://status.robinhood.com.” the no-fee investment app, mostly used by millennials, tweeted one hour ago.

It said it was investigating and working to resolve the issue as soon as possible.

Although Robinhood provided few specifics, there were widespread complaints from customers who could not get into their accounts online. Complaints also included either slowness or lack of access to certain features, as well as problems trading some asset classes on the no-fee app. Others said they could not see their account balances.

At 5:40 PM GMT, the company said that the issue had been identified and that a fix was being implemented.

“We’ve taken swift action and are starting to see improvement. We’re still working to resolve the issue and will share more updates as we make progress,” its Twitter handle said.

Robinhood has customers with more than 13 million accounts, and a fair number of them were frustrated trying to figure out how they fared during March. Clients have complained about not having access to their accounts and having long wait times for customer service.

At the time, the popular commission-free stock-trading app attributed the two-day outage to an infrastructure "instability" that kept systems from communicating with each other.

Update: Robinhood has just updated that its app resumed regular services after a "system-wide outage" locked users out of their accounts today.

Our systems have been fully restored and our app and web platforms are now functional. We apologize for the trouble and appreciate your patience as we worked to resolve this.

— Robinhood Help (@AskRobinhood) June 18, 2020