Brokerage outages and other problems
I decided to start a thread about brokerage outages and other problems to let folks know which ones are not performing well.
This morning I, and some others using Scottrade had their accounts show all positions at 0 shares. I could not place an order online. Called the local broker and the call was forwarded to the national desk. Waited several minutes and finally hung up. This could potentially be a serious problem in the future if there is a sudden run (up or down) and a person wants to exit a trade, but can't place an order because the national center is swamped with calls. A while back hackers were able to break into two shareholder's accounts at Scottrade and sell all their shares of a specific stock. This was a breach of their security.
The purpose of this thread is inform and give a heads-up to folks using SMC about problems, outages and any other comments (good and bad) they want to make about the various brokerages.