Discount brokerage and financial services platform Zerodha is once again hit by a technical glitch, as per social media users. Taking to X (formerly Twitter), several traders have mentioned that they are unable to exit their trades.
This is the third technical glitch experienced by users in the last three months. The discount brokerage app stated they are checking the glitch and will have someone from the team reach out as soon as possible.
Discount brokerage and financial services platform Zerodha is once again hit by a technical glitch, as per social media users. Taking to X (formerly Twitter), several traders have mentioned that they are unable to exit their trades.
A user wrote on X, “I am unable to exit my trades.”
Another user wrote, “Zerodha is down again? Anyone?”
Complaining that they can’t exit their puts, a user wrote, “#Zerodha glitched Can’t exit my puts. It’s in good profit.”
Amid the ongoing glitch, some users have insisted that they should change their trading platform. Meanwhile, Zerodha mentioned in a statement on social media that their system was functioning properly. The platform asked its users to check their internet connection or try closing the app and reopening it. Additionally, while asking users to send their details, the platform has said that they are checking this and will have someone from the team reach out at the earliest.
Some users have insisted that the platform should enhance its technical team. A user inquired why it consistently fails during critical moments as market volumes rise. This is the third technical glitch in the platform in the last three months.
Last month also several users complained about losing lakhs due to a glitch in the trading platform. That time, the company had said that it was due to a connectivity issue with the Bombay Stock Exchange, BSE. A user reportedly wrote on X, “Incurred a loss of over 15 lakh today due to a Zerodha glitch. Orders were pending from 10:55 a.m., and I was unable to cancel or modify them. At 11:24 a.m., all orders were executed at the previously pending price, forcing me to square them off at the current price, resulting in a loss of over 15 lakh across two accounts.”
People trading in trade options are often hit by technical glitches in the trading platforms. To give an example, in 2023 alone, Zerodha reported at least 8 technical glitches. Recently, Zerodha was fined Rs 5 lakh by the Ministry of Corporate Affairs for its failure to appoint a Chief Financial Officer (CFO) within a particular time period. From December 2021 to March 2023, the firm admitted that it operated without a CFO, which is in violation of Section 203 of the Companies Act.