Users of Zerodha face challenges accessing accounts and placing orders, underscoring persistent glitches; the company claims the issue has been resolved.
Zerodha, a well-known trading platform, faced a service disruption on Monday, causing frustration among users who encountered difficulties accessing account information such as holdings and trades.
Some users also reported problems with order placement and the inability to close positions, raising concerns about the platform’s stability. This marks the third consecutive month of reported issues, with previous complaints in November and December 2023.
On social media, users expressed their dissatisfaction with the ongoing glitches. A user commented, “Zerodha glitches have become the new normal; the company seems unwilling to address these recurring problems with their infrastructure. Retail investors are experiencing financial losses due to these persistent broker glitches.”
DownDetector reports highlighted issues with Zerodha’s website, particularly in its mobile brokerage and trading services, flagged at 9:00 am. Responding to user concerns, Zerodha acknowledged the outage, attributing it to a connectivity problem.
The company assured users that the issue had been addressed, stating, “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 previously encountered technical glitches in November 2023, where some users were unable to view their executed orders.
The issue arose on a Monday morning and was resolved by noon. Another technical glitch occurred in the subsequent month.
In a blog post dated December 5, Zerodha stated, “In the business updates post I shared in August this year, I mentioned how we hadn’t experienced any significant tech issues for a couple of years. Unfortunately, we have had two episodes in quick succession in the last two months, affecting between 5 and 20 percent of our active customers.”
“The issues on Nov 6th and Dec 4th were triggered due to edge cases with our external dependencies. This is no excuse, and I understand that, as a platform, we are responsible for all the issues you face. But I wanted to share with you what went wrong and what we are doing about it,” the post added.
Zerodha’s CEO, Nithin Kamath, later announced that the brokerage platform is implementing new fixes to prevent future glitches. While the earlier two issues were linked to the same issue, the most recent one has been attributed to “connectivity” problems. Despite this, users remain dissatisfied with the “persistent” glitches on the trading platform.
This service disruption follows a similar incident with competitor Groww app users, who reported technical issues last week. Groww faced complaints about login difficulties and issues with viewing balances and executing orders. The Groww team responded directly to users, addressing the problems until they were resolved.
As of the end of 2023, Groww had 7.6 million active traders, surpassing Zerodha, which had 6.7 million. In terms of active investors, Groww overtook Zerodha as of September 2023, with 6.63 million active investors compared to Zerodha’s 6.48 million, according to NSE data.
