12 Dec, 2020

Trading 212, Trade Execution Delay

Trading 212, a company fintech and a broker regulated by the FCA, has today stated that its platform had experienced technical difficulties related to the services being performed due to a recent disruption of interrelationships Broker.

Interactive Brokers has not yet confirmed the problems that caused the outage, but Trading 212 explicitly stated on its Website: “order execution has been delayed today as our Interactive Brokers have experienced intermediate downtime, which has resulted in our ability to process transactions in full. They are currently working to improve redundancy so that this does not happen again.”

One user told The Financial Magnates that ” Trading 212 has not solved the Problem and that thousands of people still have problems. T212 remained silent and refused to pour their customers about the reasons why the platform continues to freeze. This can be during trading, which means significant monetary losses for traders. I suggest you contact T212 to see if you can find out what’s happening.”

Interactive Brokers and Trading 212 did not immediately respond to a request for comment from financial tycoons. There was no answer yet.

While markets have risen on positive story about vaccines, a handful of major U.S. brokers have reported trading problems in the past two weeks. Clients of Merrill Lynch, Fidelity, Charles Schwab, TD Ameritrade and Vanguard had experienced problems or delays on their brokers ‘ platforms.

Trading 212 Suffered DDoS Attack

The Trading 212 incident is the second system failure confirmed so far this month. Previously, Trading 212 reported that it had suffered distributed Denial-of-service attacks or DDoS attacks that attempted to cripple its System with a overflow of information.

This issue was resolved within an hour, and the retail Broker said that despite the third-party protection service not working properly, users could use the platform normally.

The cyber attacks appeared to have had a limited disruption to trading activities, as the Brokerage told clients that this had no impact on their shares or account information. There was a brief outage of connections and it simply prevented users from logging into their accounts.

In answering the questions about the attack, the it department did not give an explanation for the Problem, but it quickly restored the services.

Trading 212 said earlier that it had more than 400,000 account openings since the beginning of the year and that its number of funded accounts increased to 600,000 in 2020. This makes Trading 212 the second largest Broker in the UK in terms of the number of Retail accounts, adding that they have over 1 billion customer assets under management.

The company was the first broker to offer retail in the UK the ability to trade without Commission and the product portfolio of base consists of stocks, ETFS, designs and derivatives.

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