Westpac online broking crashes!

CanOz said:

Just got an alert that Power Etrade will be going offline for 30 minutes.....what a pack of complete and utter F***whits!

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CHange to Morrisons bro.
Thats what i did.
Same IRESS platform.

$110/month but if you make 10+ trades a month then its free.

ANd the best part. $22/trade brokerage.

No problems today.

nizar said:

CHange to Morrisons bro.
Thats what i did.
Same IRESS platform.

$110/month but if you make 10+ trades a month then its free.

ANd the best part. $22/trade brokerage.

No problems today.

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So where is your trading account? I spent 4k on brokerage last year.

The iress platform is the key.

Love to know more Nizar. The only reason i'm with Etrade is that it was convienient to do from here. I jus transfer capital from Westpac to ANZ for trading.

Cheers,

Gotta say - withn comsec server overloaded as well - its a nice way to potentially `limit` a correction isn`t it. - All the major online trading houses seem to be down!!!

maybe its not such a bad thing to stop or limit panic selling by those who might be inclined to do so... but of course it also limits the bargain hunting...???
any comments??

CanOz said:

So where is your trading account? I spent 4k on brokerage last year.

The iress platform is the key.

Love to know more Nizar. The only reason i'm with Etrade is that it was convienient to do from here. I jus transfer capital from Westpac to ANZ for trading.

Cheers,

Click to expand...

I spent a fair stack on brokerage last year as well.
One week i spent $600 (also happened to be my most profitable week).

My trading account is with them.
They have a Trust Account with Westpac.
Just transfer your funds to them and thats what you trade with.

Downside is you get no interest on those funds.

But for me thats not a problem.
Coz the only funds i keep with them are the funds i intend to trade with.

PM me if you want more details.

www.morrisonsecurities.com.au.

A person always picks up the fone and i was very impressed with their service.

Update on online broking sites

Online share deal meltdownAsher Moses
February 28, 2007 - 2:31PM
http://www.smh.com.au/news/business/online-share-deal-meltdown/2007/02/28/1172338681184.html


Online share brokers had their busiest trading day on record today, as Australians frantically adjusted their portfolios after huge global stock plunges.

Share meltdowns in the US and China caused the Australian stock market to fall more than three per cent at the opening this morning, but there had been a slight recovery by the afternoon.

The trading stampede caused the web servers that power the online brokers to buckle, making them inaccessible and unable to process trading orders.

CommSec, Australia's largest internet broker, was inaccessible for a period, with visitors to the website reporting a "server is too busy" error message.

General manager Matt Comyn confirmed the CommSec slow-down was the result of "a huge spike in traffic this morning", but he denied there were any significant delays in processing orders.

"We did probably an average day's trade in the first 40 minutes," he said, adding that by about 11.30am 45,000 trades had been processed.

CommSec's record is 51,000 trades in a day.

Comyn said that CommSec was "in the process of adding some additional [server] capacity", which he said would prevent any further website slow-downs for the rest of the day.

But irate smh.com.au readers rejected Comyn's reassurances. One said that even at 2pm he still could not access his CommSec account.

"I would think there are grounds for class action by shareholders like myself who have been unable to access the market during such a volatile spell," he said.

Westpac experienced similar turbulence. One smh.com.au reader wrote in to say: "I have had an order unprocessed for nearly an hour, in my Westpac Online account, and their phones are engaged."

A Westpac online broking spokeswoman said: "Due to heavy usage there have been some delays, but the service has been available all morning."

ETrade also experienced service slowdowns; its chief executive, Brett Spork, said the website was taken offline between 1:15pm and 1:30pm for "fine tuning", after load issues earlier in the day.

Unessential features on the ETrade website were also disabled, so as to "not jeopardise the trading engine".

The cause of the intense trading was an overnight global share meltdown. Wall Street experienced its worst downturn since the attacks of September 11, 2001, while Chinese stocks suffered their biggest daily falls in a decade.

Australia's stockmarket followed suit this morning - the All Ordinaries Index plunged by 212 points to 5773, wiping $45 billion from the market value at the 10.15am opening.

The benchmark S&P/ASX200 Index dropped 206.9 points to 5786.9.

Westpac Broking Down?

Is anyone else having problems getting to Westpac Broking this weekend?
When I try and login, it takes ages to go through and eventually ends up on this page - https://private.broking.westpac.com.au/default_security_check - and doesn't go any further.

I know the market is closed but after having a good read around here I want to modify some watch lists!

Re: Westpac Broking Down?

Kieran said:

Is anyone else having problems getting to Westpac Broking this weekend?
When I try and login, it takes ages to go through and eventually ends up on this page - https://private.broking.westpac.com.au/default_security_check - and doesn't go any further.

I know the market is closed but after having a good read around here I want to modify some watch lists!

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Yep ditto cant access site, have been trying since lunchtime?! kieran youll find there is 2 other westpac crash threads (so this one will prob get moved)!

Big thumbs up to the admins around here, they're obviously on the ball!

On the other hand...

Big thumbs down to Westpac, I cant beleive they could have part of their site down for a good part of the weekend. Take a page out of Bendigo Bank's book Westpac - if you forsee downtime (or even if it's unplanned) - put a notice on the front page!!

Westpac having trouble with their index's???? materials not healthy by their feed???

Any one else not been able to join in the bounce back in the last 15 mins?

Well you didnt want to be an ANZ Diversified Margin Loan customer today that uses Etrade.

I lost thousands of dollars on trades I couldnt do. Had to do phone trading, and given their problems was on hold for 10 mins each time - and as you all know, with a market like this, you can see lost of dollars down the drain in this time.

Thanks Etrade, will you reimburse me because your sh1tty product couldnt handle the load?

Westpac Broking is really struggling right now to open windows!!

bigdog said:

Westpac Broking is really struggling right now to open windows!!

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Appears to be OK now.
I was impressed with Westpacs performance on the slide down today, then dissappointed with the its inability to do anything after the bounce occurred.
On the bright side, my lack of access may have stopped me doing anything stupid

Westpac broking appears to be experiencing problems today!

The connection has timed out

The server at broking.westpac.com.au is taking too long to respond.


If you are having trouble; try this link to connect
https://private.broking.westpac.com.au/do/public/wslLogin

Cheers Bigdog. Dont know what is going on but will probably be fixed later today.

This is ludicrous. Their main web site is timing out too, and has been for the last hour.

yea even banking is down. Everything is, has been for the whole day so far from what i can tell.

Broking works with this link and has been running for hours

https://private.broking.westpac.com.au/do/public/wslLogin

I cannot believe that you guys are all so loyal. Surely by now you should have seen the light and got on board with Commsec. It is simply the best.

greenfs said:

I cannot believe that you guys are all so loyal. Surely by now you should have seen the light and got on board with Commsec. It is simply the best.

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Not so, was with Comsec, tried to establish margin loan system and was unable to decipher and get through the application criteria. I am pretty stupid but do well with my trading. You can stick Comsec.