Serious stability issues today, completely down for over an hour this morning. 35 minute queues to get through to a rep on the telephone. Unlike other retail brokers who own up to their outages by providing commission rebates, Lightspeed is refusing to do so. Looking for another broker.
As much as I would like to bash my competition, these type of technical problems can happen to anybody.
That really was a long outage. Glad I was flat. Was their "Web Trader", their internet (non DMA) platform down too? If I had to get out and they weren't answering their phones that's what I'd check first.
it is the reverse. you check the "web Trader" first. calling a broker at a time their platform is down , when they are bombarded with calls, is a last step. outages is exactly the reason one should familiarize themselves with all platforms offered by a broker. it is unlikely that all platforms will go down simultaneously.
they are not your competition but the competition of your clearing firm. your remark reminds me of a college class report where students made presentations of major co.s. students would say my company.; the professor would interject you don't own the co. "these type of technical problems can happen to anybody" the short answer is yes but firms which have a philosophy of putting their customers first have multiple servers and multiple platforms as backups, which minimizes the problem. poorly capitalized firms do not have these options.
We all have backups for emergencies. As to if those backups work, it would depend on the point of failure.
That's nuts. I haven't used Lightspeed -- don't they have a preferred customer tel# for active traders? I thought all brokers did.
if the exchange has an issue than the problem may exist for everybody. having servers at multiple locations+mobile phone apps+web based traders diminishes any potential firm issues.
if the shit hits the fan it doesn't make a difference. the volume of phone calls would be overwhelming. you won't be able to get through.. ever try to buy a hot rock concert online/phone. it the same situation.