New Delhi: Users of the online trading platform Zerodha experienced a brief service disruption on Monday encountering difficulties in accessing account information, including positions, holdings, and trades.
Complaints flooded social media with some users expressing frustration over issues with order placement and the inability to close positions. Criticism was directed at Zerodha’s recurring glitches with users urging the company to address infrastructure concerns. (Also Read: Paytm’s Exclusive Offer Eases Pilgrimage To Ayodhya: 100% Cashback On Bus And Flight Bookings)
One user remarked, “Zerodha glitches have now become the new normal. The company doesn’t bother to work on their infrastructure to fix this recurring issue. Retailers are losing money because of this broker glitch. Founders, take out some time from your podcasts and focus on your core company.” (Also Read: A Record In-Making: Nirmala Sitharaman Second Finance Minister To Deliver 6 Consecutive Budgets)
Reports on DownDetector indicated problems with Zerodha’s website particularly in mobile brokerage and trading services, starting at 9:00 am. Zerodha attributed the outage to a connectivity issue and assured users that the problem had been resolved, expressing regret for any inconvenience caused.
Due to a connectivity issue, some of our users were intermittently facing issues with order placement on Kite. This issue is now resolved. We regret the inconvenience caused.
— Zerodha (@zerodhaonline) January 29, 2024
Zerodha suggested users who were still facing connectivity issues to send additional details and a screenshot via private message on X enabling the company to investigate the problem.
This incident follows a recent glitch on another trading platform, Groww, which left users frustrated and resulted in losses. Groww encountered complaints related to login challenges and difficulties in viewing balances and executing orders. The Groww team promptly engaged with users, directly addressing the issues until they were resolved.
As of the end of 2023, Groww maintained a lead over Zerodha in terms of active traders, boasting 7.6 million compared to Zerodha’s 6.7 million. Additionally, Groww surpassed Zerodha in active investors as of September 2023 with 6.63 million compared to Zerodha’s 6.48 million, according to NSE data.