This is starting to look like a customer extinction level incident — Any idea which competing service their users / wsb will likely move to?
webull and thinkorswim will probably be the two biggest beneficiaries today.
Robinhood reports outage as markets rebound
31–40 of 164 posts
Re: Robinhood reports outage as markets rebound
#32Earlier quoted context omitted.
How do you think most brokerages fill orders? I'd rather get filled at the best price possible, which I assume a high frequency firm would be able to do better than some other filling method. Pretty sure most brokerages do this anyway.
Sorry thinking about this more, I guess the actual best price at the stock exchanges would be preferable
Internalizers can quote better prices than the exchange NBBO; you don't have to guess: when you're buying, the lower price is the better one.
Re: Robinhood reports outage as markets rebound
#33Re: Robinhood reports outage as markets rebound
#34Do they compensate their customers for this?
How would that work? If I’m holding a stock and it tanks while RH is down, why wouldn’t I claim I was planning on selling it?
Now if I had a trade scheduled ahead of time to execute during the down time, that seems like a more justifiable case for compensation.
Re: Robinhood reports outage as markets rebound
#35Guess they weren't ready for the massive amounts of requests coming from a world record market correction / recession. That, or they released a bunch of new features over the weekend. Why we are building highly sensitive monetary performance based applications under the guise of agile and electron is beyond me. The app market needs a market correction in design. IEEE, military, aerospace, or aviation design standardi…
> Why we are building highly sensitive monetary performance based applications under the guise of agile and electron is beyond me.
It's cheaper.
This is not complicated. The entire society is orientated to getting the most for least. Excessive effort in quality is a waste.
Besides, the "serious" people hardly fared better. The notorious TSB failure, for example: https://www.independent.co.uk/news/business/news/tsb-it-fail...
Re: Robinhood reports outage as markets rebound
#36This is starting to look like a customer extinction level incident — Any idea which competing service their users / wsb will likely move to?
If they really went all in on risky options contracts... Burger King.
Re: Robinhood reports outage as markets rebound
#37Earlier quoted context omitted.
How do you think most brokerages fill orders? I'd rather get filled at the best price possible, which I assume a high frequency firm would be able to do better than some other filling method. Pretty sure most brokerages do this anyway.
Sorry thinking about this more, I guess the actual best price at the stock exchanges would be preferable
Reg NMS prevents HFTs from filling your order outside of the NBBO. if anything you’ll get slightly more favorable prices from a market maker, since they know you’re a retail trader who’s not going to run them over.
Re: Robinhood reports outage as markets rebound
#38Aaaand, there's already a twitter account trying to build a class action lawsuit against Robinhood for allowing an outage to happen. Wonder if this'll go anywhere! https://twitter.com/ClassRobinhood
Re: Robinhood reports outage as markets rebound
#39This is starting to look like a customer extinction level incident — Any idea which competing service their users / wsb will likely move to?
Think or swim most likely
Re: Robinhood reports outage as markets rebound
#40This is starting to look like a customer extinction level incident — Any idea which competing service their users / wsb will likely move to?
If they really went all in on risky options contracts... Burger King.
depends on what kind of option contracts they were buying. I loaded up on a bunch of calls last week and am currently sitting here happy as an elephant.