Incompetence and an oligopoly

[nodnub]

If you cannot log at all into the primary account, then you cannot use the fancy trading platform. That is unless there is a way to access it directly which I don`t know how.

 

Cardboard

 

Hi Cardboard, these platforms I mention do not use a website at all..  They are a standalone program on your computer.... Like launching Microsoft Excel.  The program still communicates with the Banks computers, but doesn't go through their Banks website or their webservers, which get bogged down by excessive visitors. The theory I'm working with here is that these standalone trading platforms may have been able to connect to the backend server and execute trades at the same time that the lowly website users and IPad app users couldn't even logon to their system. (I've heard that many of the iPad and Android phone apps for banking are just badly designed web applications so they would also have problems connecting). 

 

Was anyone using these platforms during these time periods?

 

--edit--

I think I might be wrong about this.. it looks like the BMO Market Pro application is a Java Applet that you have to log in to the website to launch.  The other banks Pro platforms might follow the same model.

 

So if you can't login to the website you are sunk either way. 

 

Maybe it's worth having the tablet version on a iPad to see if that works any better in times of high traffic and high volatility.

 

 

[CorpRaider]

I've seen reports that TD, Schwab, Fido, Vanguard also had outages yesterday (I was personally impacted by TD and Fido; wasn't trying to trade just looking for quotes and apps were fkd).  I read etrade was running fine.