Retail Brokers Accountability

I use E*TRADE and an one of their more active accounts. I have necer had one outage in the last 9 years.

Etrade has some problems, but the robustness of their system is not one of them. Even in fast markets.
 
The situation is not surprising. Until brokerage firms pay competitive salaries for top IT(information technology) platforms will suffer from outages.Customer agreements usually have clauses in them that they are not responsible for outages. Have the courts sustain these sign agreements.
There is probably only one firm(IB) on the street that can do platform upgrades without damaging the existing platform. There is another firm that doesn't upgrade its platform. The platform doesn't have all the bells and whistles but rarely does it have a down time and then only for a few minutes.
 
newwurldmn said:
I use E*TRADE and an one of their more active accounts. I have necer had one outage in the last 9 years.

Etrade has some problems, but the robustness of their system is not one of them. Even in fast markets.
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Only issues are option data being stale on opra and a mild freeze. My account goes back to the beginning, Dave's problem I don't experience. Only issue I can think of was day trading COMS in the $100s taking 15-60 minutes for a trade report.
 
Kind of weird. Not American so never used Etrade but think if I was going to swing around 3 million dollars I’d find a broker with the right tools and executions.

Are they commission free? It amazes me what people will do to save a bit of commissions. Feeds/software are tools and cost of business.

I could just imagine the looks I’d get if I started using a rock as a hammer because “it’s free”.
 
Metamega said:
Kind of weird. Not American so never used Etrade but think if I was going to swing around 3 million dollars I’d find a broker with the right tools and executions.

Are they commission free? It amazes me what people will do to save a bit of commissions. Feeds/software are tools and cost of business.

I could just imagine the looks I’d get if I started using a rock as a hammer because “it’s free”.
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He's cheap? Guy made a couple million buying Penn at $3-$5 and $450 million selling to Penn worried about free commission?
 
Metamega said:
Kind of weird. Not American so never used Etrade but think if I was going to swing around 3 million dollars I’d find a broker with the right tools and executions.

Are they commission free? It amazes me what people will do to save a bit of commissions. Feeds/software are tools and cost of business.

I could just imagine the looks I’d get if I started using a rock as a hammer because “it’s free”.
More...

"Portnoy's foray into day trading came about after coronavirus mitigation protocols forced the closure of venues and the cessation of competitive sports, ... "

He is a new trader that is yet to know how/why stock trades are free and that it is more likely for a discount brokerage to face outages.

 
Portnoy seems over the top about this. Sites go down. Broker's trade desk should be on speed dial and have more than one broker!
 
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