Retail investors say they’re losing thousands as brokerages struggle with record traffic due to coronavirus panic

Self-directed online brokerages have not been coping well with the additional volume brought on by a devastating month-long selloff, according to retail investors who are complaining that multiple outages and apparent bugs in the systems have cost them thousands of dollars.

The combination of a coronavirus-inspired selloff that quickly brought forth a bear market and the country-wide shutdown that has forced most Canadians to work from home has led to a huge spike in trading volume. TD Direct Investing said recent volumes were nearly three times the average, while BMO InvestorLine said activity has hit record levels.

But the increase has multiple retail investors complaining about issues ranging from not being able to log in to trading platforms to outright service outages. Trying to contact customer service has led to further complaints, with investors being placed on hold for upwards of two hours.

“It’s happening across the board,” said Rick

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China, U.S. to set aside differences in G20 coronavirus summit: SCMP By Reuters

© Reuters. FILE PHOTO: A member of staff from Chinese government adjusts U.S. and Chinese national flags in Beijing

BEIJING (Reuters) – China and the United States are expected to call a timeout on their coronavirus blame game and focus on the challenges of the pandemic when leaders of the G20 nations hold talks via video conference on Thursday, the South China Morning Post said.

The virus has spread around the globe, infecting more than 470,000 people and killing more than 20,000, since it emerged in central China late last year.

The leaders are expected to agree that the outbreak is a threat to humanity and will set up a mechanism to share information and experiences in fighting the disease, the paper said, citing a draft statement to be discussed at the summit.

“As the world confronts the COVID-19 pandemic and the challenges to healthcare systems and the global economy,

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Everything you need to know about the coronavirus stimulus checks

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It appears that help is finally on the way.

Senate Republicans and Democrats have hammered out a deal with the White House for a historic $2 trillion coronavirus aid package that would provide direct payments to lower- and middle-income Americans, as well as hundreds of billions of dollars in assistance to corporations, small businesses, and hospitals and health care providers.

Unsurprisingly, the direct payments portion of the package has garnered the most attention. The coronavirus outbreak has devastated the U.S. economy, and with many Americans losing their jobs and hurting financially, all eyes have been on Washington to see how lawmakers would help alleviate the burden.

While the final version of the bill—which still needs to pass both chambers of Congress—remains to be seen, here’s what … Read More