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HomeCURRENT AFFAIRSBUSINESSZerodha's Technical Glitch Leaves Traders in Disarray; Here's What to do When...

Zerodha’s Technical Glitch Leaves Traders in Disarray; Here’s What to do When You Face Such Issues

Numerous consumers were irritated by technical problems with the well-known trading platform Zerodha.

Zerodha: The trading platform of Zerodha During Tuesday’s session, Kite noticed a technical problem that was subsequently resolved. Prior to this, a few Zerodha clients had expressed concern that although the trades were being completed, they were not appearing in the position area.

Real-time Outage Reports from Multiple Cities

A real-time online service outage tracker called Downdetector states that over 116 outage reports were registered, most of which came from Bengaluru, Delhi, Mumbai, and Nagpur. Later, Zerodha revealed that the sporadic problem was with the way positions were displayed on its trading platform, and that clients may see the impacted positions after several refreshes. “The order status was displayed on the orders page correctly for all users. The order placement, order modification and order cancellation were not impacted,” it said. 

Zerodha’s Position as the Second-Largest Domestic Broking Company

As of September 30, Zerodha claimed the position of the second-largest domestic broking company, with 6.48 million active investors. Groww, which defeated Nithin Kamath business last month to become the biggest brokerage firm with 6.63 million active investors, is the target of this appeal. Recall that in June of this year, Zerodha experienced an outage with its internet service providers (ISPs). Back then, Kite’s data feeds were the problem. Later on, it was settled. “Due to a technical issue, some of our users’ positions were not displayed. This issue is now fixed. We regret the inconvenience caused,” Zerodha Twitted.

Common Technical Issues in Brokerage Houses

Technical malfunctions and problems are not uncommon in brokerage houses. Some of these problems can be more serious and interfere with your trading activities, but the majority of these are small and go away soon. In the event that a technical malfunction occurs during the execution of an order, maintain composure and follow these procedures:

  • Attempt to determine the issue. Does the problem impact the order execution process alone, or does it affect every part of the brokerage firm’s platform? Try putting a lesser order or using a different order type if it is just having an impact on how the order is executed. If the situation continues, there may be a platform issue with the brokerage business.
  • Speak with the customer service department of the brokerage company. They ought to be able to assist you in troubleshooting and getting the problem fixed as soon as feasible. The customer service team might be able to provide you an anticipated time frame for resolution if the problem is widespread.
  • Keep a tight eye on your account. After the problem has been fixed, keep a careful eye on your account to make sure all of your orders were filled as intended. Get in touch with the brokerage firm’s customer care team right away if you find any differences.

Tips for Avoiding Technical Issues and Glitches

  • Make use of a dependable internet link. Issues with order execution may arise from a sluggish or unreliable internet connection.
  • Verify that your software is current. Updates to its software, which include speed enhancements and bug fixes, are regularly released by brokerage businesses.
  • Steer clear of making purchases during busy trading times. The brokerage firm’s platform is usually most frequently used during peak trading hours, which can raise the possibility of technical problems.
  • Keep an additional brokerage account. In the event that there are technical issues with your primary brokerage account, you can make orders using your backup brokerage account.

Zerodha Customers Express Frustration

Earlier today, a large number of Zerodha customers vented their frustration on X. One person wrote, “Zerodha is no longer trustable platform for trading as prices doesn’t get updated/refreshed properly and it impacts us. Pathetic experience and they don’t want to improve their services. No improvement in the features also for a quite long time. Trailing SL is even horrible.” Another person said, “Ok boys. Time to find a new broker and diversify. Zerodha is not as good or trustworthy anymore as they were. Their refusal to fix stuff tells you how much they care.” One person said, “Zerodha’s recent technical glitch has left many users frustrated, experiencing issues with their order positions.”

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