Robinhood made a name for itself by offering commission-free trading on a mobile app.
: “What is going on — I can’t do any trades — you will lose me as customer going forward. This is ridiculous.”We are still experiencing system-wide issues. Our team is continuing to work to resolve this and we’ll provide updates as they become available.
We apologize again for the trouble this has caused and appreciate your patience with us as we work to resume service.The failure was a setback for a Silicon Valley start-up that has sought to attract young, tech-savvy investors who want to trade entirely online. Founded in 2013, the Menlo Park, Calif., company made a name for itself by offering commission-free trading on a mobile app. Since then, it has garnered millions of customers and a valuation of $7.6 billion.
Financial technology companies may have difficulty dealing with higher trading volume in more volatile markets, said Craig Pirrong, professor of finance at the University of Houston. “Particularly, is the technology scalable enough to handle the amount of orders they’re getting?” he said.and Fidelity Investments, have dropped some trading fees, essentially matching Robinhood’s offering. Companies including Jack Dorsey’s Square Inc.
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