Zerodha - Number One Discount Broker in India

[tjrocks]

yea I will.. but telling them is a very big task bro. They has hired bunch of market illiterates as their customer service representatives. Making them understand what happened is hell of a task. It will take hours. This is 3rd or 4th time they have done this to us. Making them believe that this is their glitch is not easy, but I'll try.

 

[timepass]

yea I will.. but telling them is a very big task bro. They has hired bunch of market illiterates as their customer service representatives. Making them understand what happened is hell of a task. It will take hours. This is 3rd or 4th time they have done this to us. Making them believe that this is their glitch is not easy, but I'll try.

Do it in writing. Raise a ticket.

 

[afin]

X

 

[Loss_Lover]

More painfully they might charge interest on the overnight margin. Do check ledger after the settlement of this trade. Same thing happened with me in Dec'16, I was charged 0.5% interest on the total margin as my position could not be squared-off during the day's session because of Z's OMS failure. It was closed at next day's market open - a Rs.7,658 profit turned into a loss of Rs.12,923.50. After that incident I never traded with Zerodha. I liquidated my portfolio and moved to a different broker. They did not take any responsibility.

Yeah, that's "The Hypocrite Zerodha"! Within the internet ecosystem or in social media atmosphere Zerodha shrewdly wears an "Angelic shroud" but you get to see the reality once you join them. They tactfully delete posts/threads that unveils the true picture of their pathetic technological infrastructure be it in YouTube, tradingqna, etc. Special steps are taken to ensure Zerodha's image as the best broker on the contrary to its true nature.

To my utmost dismay, nothing has changed over the years. It clearly shows Z has no intent to rectify these erroneous mishaps rather it makes me ponder whether these issues are deliberately made for Zerodha's own proprietary gains.

Z tactically maintains a web-like trap in the internet. As a total noob if somebody is planning to open a Demat and does a Google search, very likely that person will land up to a webpage showing Z as the best in India. So, without any second thought that person opens up an account with Z. That newbie is very optimistic and unaware of the reality. They think, they have discovered a money minting machine - if they do this along with that (courtesy YouTube videos), they would be printing money like nobody else. However, the reality has different plans. The brain receives narcotic antidotes which makes them addictive. So, even if they lose money, hope and the zeal to overcome despair forces them to trade, trade and trade.

After this every now and then, often on the volatile days, the mayhem occurs wherein Z's OMS/platform fails. By the way, mark while that person realizes all this, several months have passed by. That trader has already generated sufficient amount of revenue for the House. Now whether that buddy stays with Z or leaves - does not matter. That is the exact reason for the heaven-hell difference between the Customer Service you receive before opening an account and the service you receive afterwards ideally when you require it the most.

A very minuscule section of our population participates in trading (even worse considers it legit). That's the tragedy which leaves new masses to realize all this. As a part of their business plan, Z targets these new uninitiated fireflies. So, there are always new lots of newbies ready to try out their luck and ultimately get slaughtered.

In addition to what I wrote above, Z also have a proprietary trading desk which generates tons of margin at times by taking positions against their clients. That's why their connection flaps on an useful volatile day and their OMS along with their platform gets fvcked up! Nithin, Nikhil and Co. are too smart for the regulators to even trace the slightest of their shrewdness. While they receive Young-turt awards, clients are forced to generate revenue at all circumstance and at all cost.

To further add, Z also partners with other vendors and generate income from their products - Sensibull, Coin, Smallcase, etc. I wonder if they would have concentrated on their existing platforms, wouldn't they have built something stable by now? But why would they? Trapping and sucking is always better than toiling and serving. Isn't it?

BEWARE "Zerodha – India’s best retail brokerage for 2018" by NSE
Sheer number of client size is not everything, the number of complaints received by them for this year is the highest across all brokerages too and if @Zerodha is considering this as their achievement, it's even worse. This shows that they are NSE's pet as well.

 

[Contra]

I'm not sure if this was posted or discussed elsewhere on this forum but it seems that Zerodha has been asked to pay 37 lakhs as penalty to a client, in a scenario that would be familiar to a lot of aggrieved F&O traders aggrieved with Zerodha's glitchy OMS/RMS. Expectedly, Zerodha seems intent on countering the claim.

Zerodha all set to fight panel order asking it to pay client 37 lakh

 

[CougarTrader]

My backtested Zerodha Volatility Indicator(Kite Down ) worked again. Just before the big move kite started giving the problem. It was the indication that the enormous expiry day big move was coming.
Success again.

How was today with Zerodha?

 

[timepass]

error in Kite... anyone else ??

Logged in Chrome.

 

[CougarTrader]

How was today with Zerodha?

Does no one from Traderji trade with Zerodha anymore? Or officially there was no issue with Zerodha on 11-Dec-18 (a highly volatile day becoz of 2018 State Election Results where BJP lost and an evening before Governor of RBI resigned).

 

[kaly422000]

error in Kite... anyone else ??

View attachment 31567

Logged in Chrome.

in pi today was unable to chek cash position for some times. when trying to chek cash position unhandled exception error occuring ,not so experienced about zerodha glitches so was confused and reinstall pi

 

[praveenpious]

Anyone facing login issues with their Pi desktop platform? Not able to login for the past 30 minutes or so.. the console throws random error messages like login failed, please relogin or unable to connect to the remote server ..

It was working fine in the morning. Logged out by 12:15 pm and then when I try to login, the system is giving me all these messages.

Started a support ticket with them (Ticket #20181213603231) for the time being..

Update: Turns out this was due to routing issues at my end.