Zerodha Platform Technical Issues

#1
I incurred losses today due to technical server connection problem between Zerodha servers and NSE.

After getting notification of this issue on the Kite platform i cancelled my SELL BO (bracket order) because i didnt want to take any chance. Order shows cancelled on the Orders page and i was about the end my trading day.

To my surprise, after few minutes the order when through, and worst the BUY and SL order showed as Rejected under executed order.

So i was stuck with a BO position which i cannot edit nor exit (BO can only be exited via Orders and no open orders were showing on the Orders page).

Calling the support desk i was informed as its a technical issue ("leased server connection lost" is what i was told be Dilip from Support Desk) there is not much what can be done now and Zerodha will not be liable.
Options given to me were to place a counter order or wait till it gets squared off which was to happen earlier at 3pm and not 3:20pm due to the known issue.

Unfortunately it didnt, and my order only got squared off only at 3:14pm after me incurring further losses. Further, as my BO(Buy and SL) had got rejected my SL didnt trigger.

Now i close the day with a loss.

Any advise on what should i do. I feel cheated that i have to incur these losses.

Is there any way i can claim for these losses from Zerodha. Support has asked me to raise a ticker but the chap i spoke with was blunt in saying that technical risk is customers risk and Zerodha will not be liable.

Who do i escalate this to? Please advise.
 

sridhga

Well-Known Member
#2
Because, you made a telephone call, they would record it as Call and trade and charge an extra 25 bucks on your account.
 

Contra

Well-Known Member
#3
I incurred losses today due to technical server connection problem between Zerodha servers and NSE.

After getting notification of this issue on the Kite platform i cancelled my SELL BO (bracket order) because i didnt want to take any chance. Order shows cancelled on the Orders page and i was about the end my trading day.

To my surprise, after few minutes the order when through, and worst the BUY and SL order showed as Rejected under executed order.

So i was stuck with a BO position which i cannot edit nor exit (BO can only be exited via Orders and no open orders were showing on the Orders page).

Calling the support desk i was informed as its a technical issue ("leased server connection lost" is what i was told be Dilip from Support Desk) there is not much what can be done now and Zerodha will not be liable.
Options given to me were to place a counter order or wait till it gets squared off which was to happen earlier at 3pm and not 3:20pm due to the known issue.

Unfortunately it didnt, and my order only got squared off only at 3:14pm after me incurring further losses. Further, as my BO(Buy and SL) had got rejected my SL didnt trigger.

Now i close the day with a loss.

Any advise on what should i do. I feel cheated that i have to incur these losses.

Is there any way i can claim for these losses from Zerodha. Support has asked me to raise a ticker but the chap i spoke with was blunt in saying that technical risk is customers risk and Zerodha will not be liable.

Who do i escalate this to? Please advise.
Firstly, stop trading with Zerodha. They're the most constantly problematic broker in the country. Despite tons of complaints against them over the years, they have failed to reform. Just go to the NSE website and check out the number of "official" complaints against them this year. As of now, they have the max complaints of any broker, and increasing. Why risk your capital with such an irresponsible broker?

https://www.nseindia.com/invest/content/arbitration_reports/report_1c_2018_19.htm

Secondly, if you can prove that yesterday's glitch was only at Zerodha's end while NSE continued to function normally then you most definitely can complain against Zerodha. Don't fall for their nonsense that it's not their fault. They're completely at fault if NSE is working but Zerodha is down. They are immune only if NSE itself is facing any disruption or glitch in services (which wasn't the case yesterday).

Complain to NSE and SEBI about this and also tell Zerodha about your intention to complain.

https://scores.gov.in/scores/Welcome.html

https://www.nseindia.com/invest/content/complaints_exchange.htm
 

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Contra

Well-Known Member
#4
@anosh26 Zerodha has itself admitted to a fault with their leased lines between 12.50PM to 1.33PM yesterday. That's a window of 43 minutes where anything adverse can happen (which it did in your case). So how can they claim ignorance or refuse liability? This is not the first time Zerodha has given such crappy excuses.
 

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kharikumaar

Well-Known Member
#6
I Think contra is right about looking at options. i had been with zerodha for a very long time without much issues , but past year or so has been pathetic, with substandard support, and frequently faulty software i have had losses due to software freezing , etc., speaking to their helpline is useless. today nest was either freezing or slowing down many times. i had to keep restarting and this was cumbersome. i also was reading on one the sites about their substantial client base, probably this is the reason they dont care. they have scaled up their systems and support according to this increase and this is leading to difficulties for the clients.
suddenly they also have issues with payouts. i had to wait 2 days wherein earlier i used to get it the same day , most of the time.
you will also notice that no one from zerodha bother to reply much to any query here .
so instead of breaking our head on all these issues. its better to look at a viable option. i already tried fyers with similar experience. now am thinking of a smaller broker without much fanfare. probably will get a little more attention,
 

TraderRavi

low risk profile
#7
I incurred losses today due to technical server connection problem between Zerodha servers and NSE.
if one cant exit his position there can be heavy losses due to a big move against our position. this terminal issue is mostly with discount brokers. I too faced losses in BNF with zerodha last year two or three times. fortunately was not having heavy option position at that time so losses were not that big. but imagine if someone having 5-10 lakh worth of options and you cant exit .
 

deepv

New Member
#8
I incurred losses today due to technical server connection problem between Zerodha servers and NSE.

...
Happened with me as well on Wednesday ... a queued order remained in the system during this period and I could not cancel it.
Got executed later, but luckily I was tracking it and hastily squared off without much difference.

CO issue had happened once earlier last year (or initial part of this year), I cancelled it but Pi removed only one and other got executed, with no way to square off - except calling them, but it took me time to understand and realize the issue.
 

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