(Scottrade story updated with comments from company spokesperson and updates on Scottrade Web site performance.)

NEW YORK ( TheStreet) -- The Web site of online trading brokerage Scottrade was down earlier in the day, and users were outraged.

Angry messages could be found on Twitter throughout the morning.

"Scottrade is a joke," one user wrote. "Phone lines are totally maxed out, the online system down .... where are the people answering all the phone lines?

"Wow, Scottrade sold all my shares on its own, just now," another user claimed. "This is just insane."

"Nothing is scarier to an active trader than a platform crash like this. It is a dealbreaker," a third user vented, after the Web site was officially running again. Other users said they would try to look for a new trading account to replace Scottrade.

According to a representative of Scottrade at a few minutes after 11 a.m., "Everything is back up and running, and users shouldn't have any problems executing trades." At essentially the same moment, the following post appeared on Twitter: "Scottrade site having issues this morning. I'd imaging the PR damage control is shifting into high gear about now..."

Ultimately, a Scottrade spokeswoman conveyed to TheStreet that the Scottrade Web site went down at about 8:40 a.m. EST and was back up again at around 10:20 a.m. During the time in between, users couldn't log onto their accounts.

"Now they're fine," the spokeswoman said. "Now it's just going back and making sure that this doesn't happen again."

When asked how users who couldn't execute trades would be compensated for their losses, the spokeswoman said, "Scottrade reviews these on a case-by-case basis ... there are a lot of different kinds of decisions they go through. It just depends on what customers are trying to do."

The company says that total financial losses experienced as a result of the malfunction would be difficult to determine. "I just don't know ... I'm wondering who I'd ask about that ... seems like a bunch of hypotheticals to me," the spokeswoman said.

Scottrade maintains that it is working hard to handle the volumes of calls since the Web site went down. "Customer service is the foundation of Scottrade. We have teams of people dedicated to resolving these questions. We are on Facebook and Twitter and we are on all the mediums. We have 450 branches across the country fielding questions too," the spokeswoman said.

Meanwhile, slightly after noon, at least one customer was ecstatic to regain access to Scottrade. "Remainder of order filled and I took off 1/3 $CMFO at $7... Scottrade is working again!!," the customer tweeted.

-- Reported by Andrea Tse in New York

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