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UI malfunction happened to my mobile E*Trade app roughly from January until end of May. The first time it happened, my heart rate jumped! I only have simple s
by llsf 6y ago
UI malfunction happened to my mobile E*Trade app roughly from January until end of May. The first time it happened, my heart rate jumped! I only have simple stocks, and I knew the day was not as bad, but the app showed big red numbers. Luckily, switching report in the app shown different numbers... so I knew the app was not displaying the right numbers.
Which was upsetting as I had no easy way to know my real situation. Later I found out that the app was reporting fine when the stock market was open, but then lost its mind after the market close, showing random numbers (mostly in red or minimizing the gain).
Now, it seems to be fixed. But lesson learned. Actually, it happened to my dad, back in the 80's when the only way was to go at the bank and ask for the numbers. The teller missed a line and gave my dad a very bad number. He had invested portion of the money coming from the sale of our house, while the new house was under construction. The investment was supposed to be very conservative (and it was), another trip to the bank the next day clarified the situation.
I am wondering if those data issue would happen more, and if the consequences would be higher now than before ?
It is scary to me that a 20yo can play with money so easily. I am no fan of retail bank, but I would expect some "Are sure? You might lose all and more" before signing the paper. Maybe Robinhood should explicitly compute the maximum you can lose and ask you to confirm that you do understand it. Actually, they might end up with more people trying exotic investments as like me I refuse to touch it unless I fully understand the risks.