The ongoing market crash has continued to make a lot of media headlines. Primarily the Robinhood platform is getting a lot of backlash, all of which appears to be more than justified at this point.
When markets maintain bearish momentum, traders want to get out of their positions as early as possible.
Robinhood is Becoming too Unreliable
That is not always possible, especially when their service provider decided to mess up things completely.
In the crypto world, both Gemini and Bitmex had issues earlier this week.
Those temporary outages are nothing compared to what Robinhood users have gone through as of late.
The company prides itself on providing commission-free investing, but only when its services are accessible.
Multiple outages in recent weeks have caused a lot of friction among platform users.
The first outage took place on March 2, followed by another one exactly a week later.
During these outages, traders cannot complete exchange orders, access their portfolios, or even look at price charts.
As if that wasn’t enough, the next Robinhood outage took place on March 12.
Three of such incidents in two weeks is absolutely unacceptable.
It will not aid in reversing the current bearish market momentum either.
The big question is whether or not the company will try to compensate users.