I’d find it unlikely that 500,000 people would download an app expecting to buy a share while the market is closed, but if you do, fine, let them leave their review.
I can easilly believe that people genuinely downloaded and signed up in the expectation of buy GameStop/Bitcoin/tulips or whatever this weeks craze is. When they find it doesn’t work (because the backend didn’t scale or because the app maker decided not to sell tulips) they’re are genuinely annoyed.
This isn’t people downloading the app just to rate it 1*, based in the hype it’s quite possible these reviews are all genuine customers.
There are people like me also who rate all apps 1* just because fuck Apple and fuck Google and fuck anyone trying to add value to their app stores. And I encourage all friends to do the same.
This is the sort of nose-upturned view many of us are guilty of, regardless of whether that was your intent. Ive seen those "users are stupid" anecdata floating around these parts with impunity.
People aren't stupid and 100K plus people making a complaint can't be seen as a mere "users are stupid" scenario.
This condescent of people who use our products will catch up with us someday and I hope it does. People arent half-wits and we might have to acceot the absurd possibility that we a wrong and crap.
The original parent is 'This is worrying indeed because the negative reviews are clearly justified.'. I don't agree with this and the thread explains why.
There are two issues to your comment:
1. Trading (including risk management) is really complicated. It isn't something that you can pick up in 30 seconds after downloading an app. This exact scenario (where broker stops taking orders on a stock likely due to internal risk limits) is a great example of an unusual scenario that has to be risk managed. This isn't some nose-upturned view but a fact.
2. Many of the comments here are made in good faith but it is pure speculation. 500K reviews were apparently posted and automatically removed. In any usual day we'd assume this was the usual spam. Again there's speculation about why there were removed. My point here is that there needs to be time to actually find out what happened.
Quote:
As a brokerage firm, we have many financial requirements, including SEC net capital obligations and clearinghouse deposits. Some of these requirements fluctuate based on volatility in the markets and can be substantial in the current environment,” the post argues. “To be clear, this was a risk-management decision, and was not made on the direction of the market makers we route to.”
The supposed complicated part of trading has nothing to do with this particular trade, from the perpective of the trader unless you can demonstrate it to be so. It might be complicated for brokers but certainly not the trader.
App didn’t allow me to buy shares
Delete app, 1* rating, false advertising