Trading Glitches Hit Multiple Brokers This Week to Date, Including IG and eToro

FCA regulated IG Group yesterday published a message on its website that it was facing technical issues, resulting in some clients being unable to access their trading platform and apps as an increasing number of the company's clients voiced on Twitter their complaints about problems using IG trading terminals, which prevented them from trading on a busy trading day. IG has taken immediate actions to identify causes of the crash and fixed all issues shortly.  

IG is not the only platform hit by glitches amid heavy trading volumes this week to date. Yesterday morning, eToro also suffered service outrages as demand from retail investors have surged. According to its Twitter updates, the Israeli brokerage firm mainly experienced an issue with buy and sell functions, which has been fully resolved at 15:40 GMT the same day.

Prior to eToro, another online broker Robinhood also reported trading glitches on Monday morning that affected more than 550 users. Problems clients complained about the no-fee app include being unable to get into accounts online, slowness or lack of access to certain features, problems in trading some asset classes, and being unable to see account balances.

Brokerage service outrages usually happen at the exact moment when there are high volatility and price movements which always bring a steer trading volume. Yesterday, the shares of GameStop Corp (NYSE: GME), a videogame retailer, nearly doubled because of the sudden flood of amateur investors encouraged by the stock's eye-popping rise of nearly 800%. IG's problem could mainly be blamed on the surge in GameStop shares and the company has suspended the trading of options on GameStop stock.