Robinhood, Interactive Brokers Experience Major Trading Outages On Monday

Trading platforms Interactive Brokers Group, Inc. (NYSE: IBKR) and Robinhood both experienced significant outages on Monday morning, but both were able to get back up and running.

As of 11:33 a.m. ET, Interactive Brokers said it expected a “prompt recovery” from the “significant failure” that occurred on Monday morning.

“We recognized the dislocation this has caused to our clients and express our apologies,” said Kalen Holliday, a director at Interactive Brokers.

In a reportedly unrelated outage, Robinhood Markets also experienced an outage on Monday, and traders took to Twitter to vent about being locked out of their accounts.

Ok this is unacceptable2 weeks in a row #robinhood pic.twitter.com/2Mc7J9FsbE

— Agente Bosniaco (@Tuzla_BIH) December 7, 2020

Trading platforms have struggled at times to stay up and running in 2020 given trading volumes have surged. Back on Nov. 9, UK traders using AJ Bell, Hargreaves Lansdown, and Fidelity UK all reported problems with their services. In the U.S., Charles Schwab Corporation (NYSE: SCHW), Bank of America's (NYSE: BAC) Merrill Edge and Fidelity all experienced slowdowns or outages.

As of noon on Monday, Interactive Brokers said it had “mostly recovered and are addressing residual issues.” However, the website DownDetector still indicated a significant number of reported outages as of 11:43 a.m.