Hi
Few days back I suffered huge losses on Zerodha Platform. I did file the complaint on NSE platform on the same day. Also filed a complaint with SEBI. I will try to write my entire story with sequence of events and that to without adding any so called "Masala". Let's hope justice is done and truth is prevailed.
Sequence of events.
1. On 18th of March 2020, I was trading as usual as I am a full time trader.
2. I spotted a good opportunity in Axis Bank and went Long with a big qty (as per me), I entered near about 441 ( near about that price)
3. After my entry price went sideways for some time and then started moving, time was near about 2:55 that time.
4. I had my SL order which I normall trail all day. After 3 I usually Trail Candle by candle
5. Somewhere near 3 I tried to Trail my SL order. To my surprise it was written Order Awaiting at first. I kept waiting thinking the status will change soon
6. When the next candle finished I tried to trail my SL again, to my surprise even after 5 minutes the order was still not going through. I also trade with other brokers and everything was wworking fine. No internet issues and no other issues.
7. When i tried to place next TSL order, I got a message from broker It was something like " Not accepting order for this segment"
8. Since I only Trade intraday I started to panic now and tried to call zerodha helpline, to my surprise all the helplines were down. ( I could only connect to them after 3:30) I have call recordings for the same
9. At closing I was still not able to square off the position. I kept trying till last second.
10. My worst fear the markets will open negative next day. Due to corona Virus going on.
11. After my entry price moved approx 55-60 rupees. had a qty of 1200 shares which is very big amount for me.
12. I quickly went to Trading QNA site and saw lot of other users faced similar issues. I took screen shots of whatever happened with me and with other users.
13. I was warned by other users on QNA web site that my post will be deleted. (So I was quick to take screen shots)
14. I called zerodha, phone was answered by a guy name prashant and he said we had large number of orders and thats why the order did not go through
15. For the entire 30 minutes?? Are you charging me any less money for trading? Or am I paying you less amount of comission or taxes? I pay you and I should receive good service.
16. He says you can complaint to technical support at zerodha.
17. I write to technical support at zerodha, they replied the same.
18. Very disappointed by this melo drama. I decided to call NSE web site to escalate this issue. To my surprise they don't accept complaint's on a helpline. So I had to escalate it via NICE portal.
19. Nice Portal was not working!
20. Had to try multiple times to sign up to NICE portal and finally Write a complaint.
21. Since I expected zerodha to come up with a coverup story. I requested NSE to ask zerodha to send the order list. My main reason for asking this is, zerodha is very clever and only shows us list of executed orders, unlike nest it wont show us rejected orders. So I have no proof that I tried to enter those orders.
Also I am suprised that so many users using zerodha and no one has ever complained that they do not show all orders?
22. Now Zerodha has replied and they completely avoided my questions and simply refuse to accept that this happened.
They claim that I have not suffered any losses as I exit my position next day!! My exit was at 500 I squared off my position approx at breakeven?? Who will pay for that! That is a loss incurred by me due to this broker.
23. I have posted my reply to NSE asking them not to avoid questions and answer them directly.
This post has been relatively long. I will post all screen shots. Of everything. Will also keep this thread updated.
I hope many of you must have felt the pain. There must be lot of people like me. Anyone else faced same issue? Did you fight for it? Or its not worth it?
Please guide me if possible.
