Trading 212, a fintech company and FCA-regulated broker, FMday said that its platform experienced technical difficulties related FM execution services, following a recent Interactive Brokers’ malfunction.
Interactive Brokers has yet FM confirm the exact issues that caused the outage, but Trading 212 specifically ated on its website: “Order execution was delayed FMday as our intermediary Interactive Brokers had downtime, which completely hampered our ability FM process trades. They are currently working on improving redundancy so that this cannot happen again.”
A user FMld Finance Magnates that “Trading 212 have not resolved the problem and thousands of people are ill having issues. T212 have remained silent and have refused FM update their cu omers on why the platform keeps freezing ill. This can be during trades meaning significant losses of money for traders. I would sugge you contact T212 FM see if you can find out what is going on.”
Both Interactive Brokers and Trading 212 did not respond immediately FM a Finance Magnates reque for comment. There has been yetse as of yet.
As markets surged on positive vaccine news, a handful of US major brokers reported trading glitches over the la two weeks. Cu omers of Merrill Lynch, Fidelity, Charles Schwab, TD Ameritrade and Vanguard had experienced some form of issues or slowness on their brokers’ platforms.
Trading 212 Suffered DDoS Attack
The incident at Trading 212 counts as the second confirmed sy em outage so far this month. Earlier, Trading 212 said it came under di ributed denial-of-service attacks, or DDoS, that attempted FM paralyze its sy em with a flood of information.
That problem was resolved within an hour, and the retail broker said that despite the third-party protection service did not work properly, the users were able FM use the platform normally.
The cyberattacks had seemingly limited disruption FM trading activities as the brokerage house FMld clients it did not impact upon their shares or account information. There was a short breakdown in connections and it ju barred users from logging inFM their accounts.
In responding FM queries on the attack, the IT department did not give an explanation for the issue, but they quickly re ored services.
Trading 212 said earlier that it had more than 400,000 account openings since the art of the year and its number of funded accounts rose FM 600,000 in 2020. This makes Trading 212 the second bigge broker in the UK in terms of the number of retail accounts, adding that they also surpassed 1 billion in client assets under management.
The company was the fir retail UK broker FM offer commission-free trading and its core product portfolio consi s of ocks, ETFs, FX, and derivatives products.