Hundreds of clients of COL Financial are trooping to COL’s Facebook page to rant and complain about access and account issues currently plaguing the stock trading website.
For the past few weeks, clients have suffered from login issues, unavailability of website, and slow loading — sometimes to the point that clients were unable to trade leading to losses.
Here are some rants and complaints posted on COL’s Facebook page:
Paki correct platform nyo bago kayo mag isip anong strategy sa correction. Walang kwenta din lahat yan kung di makaka execute mga client nyo. Sunog na po mga client nyo. P*kyu!
Honestly, di na po nakakatuwa.
Dati I experienced it once, pinalagpas ko. In fact I positively posted in the group to be still thankful sa inyo dahil sa kanilang recent gains. But it happened twice, thrice and many times na po eh.
We pay fees naman po. Unless kasama sa binabayaran namin ang lags everytime. Be fair naman po COL. Sorry means nothing na kapag paulit-ulit nang nangyayari. You MUST act in accordance sa paid service fees from your clients.
We deserve convenience on what we’re paying for.
Bwiset ibebenta ko sana yung PXP at P16.40 kanina e d naman ako makalog-in. Error na naman. Buti kung maging ganyan pa rin yung price o higit pa bukas.
Bulok na platform. Yung malaking gain na sana nabawasan pa dahil di makapagbenta dahil di ka makalog-in palagi pang naghahang. Enough for this crappy broker! Kayo lang ang palaging panalo sa commission.
COL, this is a wake up COL (call)! Ultimo mag login di ko magawa. Make the improvement of your platform an emergency! We deserve a better COL! Please lang.
Even COL’s official posts have been recently flooded with angry emoticons and negative comments not related to the post made by COL. Here are some more examples of customer rants and reviews on COL’s Facebook page:
As a response, COL Financial sent an email to customers on February 15 explaining the situation. The company cited “massive amount of orders, trades, and price requests generated by the unexpected activity of high volatile stocks” as the reason for the site slowdown.
Here’s the full message from COL:
Dear COL Client,
You may have experienced some slowdown in our website recently, and for that we apologize. This was due to the massive amount of orders, trades, and price requests generated by the unexpected activity of high volatile stocks.
The PSE pushed 127,321 trades today, one of the highest this year, with COL accounting for 68,713 of those trades or about 54%. About a fourth of these transactions came from a non-blue chip stock that traded over Php 2.2 billion off the market’s Php 9.2 billion total turnover.
To address the situation, our team will work on more aggressive upgrades into the next few weeks to keep ahead of the rapid activity of the market.
We apologize once again for any issues you may have encountered. Rest assured that we, at COL Financial, remain committed and focused on providing you improvements for an optimal investing experience.
Edward K. Lee
Founder & Chairman
of COL Financial
Conrado F. Bate
President & CEO
of COL Financial
Are you also having issues with your COL account? How was your experience?
Other useful articles you should be reading right now:
- How to Invest in Stocks (FREE Guide for Filipinos)
- 5 Things to Consider when Choosing a Stockbroker
- Survey: Best stockbrokers in the Philippines?
- COL website hacked? Here’s how to protect your account