What do you do when your broker platform just doesn’t want to work for you? What can you do when your stock broker is down?
I mean seriously, what can you do when the one thing you rely on to buy and sell your trades is suddenly out of commission?
I remember a couple of months ago when we saw multiple trading platforms experience an outage, leaving traders (including myself) unable to log in or execute orders on an important day for the stock market.
And even when I was finally able to place my orders, the platform decided to hold them.
Frustration doesn’t even begin to describe it…
So what do you do when your stock broker is down and you can’t place a trade?
The easiest solution when these issues pop up is to call, wait and wait some more. By the time you get somebody on the phone, you probably will have wasted a chunk of your day. And as a bonus: You still may not know what to do when your stock broker is down.
So you’re left looking elsewhere.
My solution is simple: Diversify your platforms just like your portfolio. Give yourself some backup options so that you can at least protect yourself.
Unfortunately, sometimes this happens. There will be power outages, natural disasters and other issues with brokerage platforms. During volatile periods, you don’t want to be missing out on days because you didn’t know what to do when your stock broker is down.
Following the Boy Scout motto is important in all aspects of investing, including when it comes to technology: be prepared. Don’t let outages like this be the reason you missed out!
Watch the video below as I go in-depth on what to do when your broker is down and how to be prepared for these situations.As always, leave your thoughts in the comments section below and don’t forget to subscribe to my YouTube channel to stay up to date with all things options trading.
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