Investors have been left furious at missing out on the chance to trade after online share dealing platforms struggled to cope with demand as stock markets soared on Covid-19 vaccine hope.
Customers of Hargreaves Lansdown, Fidelity, AJ Bell and iWeb, took to Twitter, complaining they had been left without access to their investment accounts as technical issues dogged the platforms.
The announcement by pharmaceutical giant Pfizer (PFE.N) and German partner BioNTech (BNTX.O) that its experimental vaccine was more than 90% effective in preventing Covid-19 has sent global stock markets soaring.
The FTSE 100 is up 4.9%, with shares in some of the companies worst hit by the pandemic registering double-digit gains. Rolls-Royce (RR) led the way among UK blue-chips, up 54%.
Hargreaves Lansdown user Ross Henery took to Twitter to air his frustration.
It’s clear everyone is having this issue and it’s now even worse . Can’t log in and being told my log it credentials are invalid then another reason etc . You going to compensate me for all these missed trades ? No didn’t think so . I’ll be cashing out when I can !!!
— Ross Henery (@Rosshenery) November 9, 2020
Other Hargreaves Lansdown customers were similarly irate.
Agreed! It’s been an absolute DISGRACE and I too could have made alot more money had it executed my trades without constantly timing out! Absolutely pathetic@HLInvest
— Ryan C (@Ryanc124) November 9, 2020
Hargreaves Lansdown’s Danny Cox said the site had not crashed but admitted there were service issues.
‘We are experiencing our busiest ever day for web and app traffic, and as a consequence there are some intermittent service issues,’ he said. ‘We apologise for any inconvenience caused.’
There was a similar issue on the AJ Bell platform, where Twitter users were being told: ‘Our team is aware of this particular issue and are working hard to fix it’. One customer said the problems were ‘the last straw’.
This “particular issue”, let’s not be coy, is systemic and well known to AJ Bell for years. You clearly are not prepared to invest where it matters to fix this recurring problem. For this customer it’s the last straw and I’m out.
— Ian McPartlan (@IanMcpartlan) November 9, 2020
Fidelity Personal Investing also apologised to customers struggling to log on to the platform.
‘Due to increased volumes, some customers are experiencing intermittent service issues,’ said a spokesman.
‘Customers can use our mobile app or call our customer services line. We are working hard to resolve this as soon as possible and we apologise for the inconvenience.’
That followed complaints from multiple users of the platform struggling to access their accounts as stock markets surged.
@Fidelity_UK are no better. Absolute shambles. Have barely been able to log in. Managed one transaction in 3 hours.
— Tim Siddle (@tim_siddle) November 9, 2020
Users of iWeb were equally frustrated, with customers detailing their problems in trading on Twitter.
I have the same issues with IWeb. Clearly everyone is smashing it today covering shorts and lumping cash into stocks. None of the platforms can handle volume spikes of this magnitude
— Phunkin_El (@Phunkin_El) November 9, 2020
AJ Bell and iWeb were approached for comment.