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5 years ago... Online trading hits January high

Where would it all end?
Written by silicon.com staff, Contributor

Where would it all end?

17.02.99 Online broker Charles Schwab has reported a 65 per cent increase in its daily online trading figures compared to December last year.

The company claims an average of $2.6bn of securities were traded online every day during January - bringing the total assets held in customer accounts to more than $521bn.

In recent weeks online trading has been heavily criticised by industry and government bodies, including the US Security and Exchange Commission. Computer glitches in both the E*Trade and Charles Schwab systems have caused investors to lose thousands of dollars. The New York attorney general has now opened an investigation into these errors.

17.02.04 When it seemed shares could only move one way - upwards - day trading using the internet was a popular activity. But something rather predictable saw a plunge in trading volumes - the pricking of the bubble.

After March 2001 we started to hear a lot less about E*Trade, Ameritrade and even the well-established Charles Schwab, long a favourite over the telephone and Main Street USA.

So that was that. Or was it? With the upturn now gaining momentum, online trading in shares is at its highest point since the Nasdaq and other indices tanked. It may just be time to dig up those old usernames and passwords.

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