On Monday, Zerodha communicated to its clientele that it has successfully addressed a technical problem concerning the order book, positions, holdings, and funds page on its trading platform.
This resolution came in response to numerous users reporting a glitch on Nov 6th.
Read on to find out all the details about the glitch at Zerodha!
Zerodha Faces A Glitch; Clients Claim Financial Losses
They assured that the issue has been rectified, but as a precautionary step, impacted clients are only permitted to close their positions.
It was emphasized that the glitch has not disrupted trading activities for other users.
Zerodha stated, “Due to a technical issue, some of our users faced issues viewing the orderbook, positions, holdings and funds page. This issue is now resolved. As a precautionary measure, affected clients can only exit positions. Trading activity remains unaffected for the rest of our users.”
A few Zerodha clients claimed to have incurred financial losses due to the technical malfunction. One client inquired if they would be compensated for a loss of 4,000 rupees after exiting a position with a 4-point loss. Another user expressed that more than half of their profits were wiped out, while a third client requested a refund for their API subscriptions due to the perceived inadequate service.
Zerodha Acknowleges The Issue: Releases A Statement
Before resolving the issue, Zerodha acknowledged the problem on a previous post, noting, “Due to an intermittent issue, some of our users are not able to see executed orders in the orderbook. However, the executed orders are updated on the positions page. We’re working on fixing this.” This incident marked the second technical glitch on Zerodha’s trading platform within a week.
In summary, Zerodha informed its clients that it has addressed the technical problem related to its trading platform, allowing affected users to exit positions, while trading activities for others remained unaffected. Several users reported financial losses due to the glitch, prompting concerns and requests for compensation and refunds. This incident was the second technical issue experienced by Zerodha in a week.
