Zerodha is India’s leading stock trading company which offers the cheapest brokerage rates for futures, mutual funds, commodity trading, and equity funds. Today, Zerodha users faced specific issues related to charting data.
Zerodha tweeted this morning,
They further confirmed in their tweet that customers could continue placing orders. Additionally, they also mentioned in the tweet that other features of the platform remain unaffected. Customers have time and again faced issues with the Zerodha Kite trading platform. Prominent issues include problems with an incorrect data feed, slow chart loading speed, or sometimes no display of charts at all.
Other than this, earlier this month, few clients also encountered another issue with the average price of holdings. Some uses weren’t able to view the average price of holdings. Zerodha intimated to their clients that they could view the correct average price on Console. Meanwhile, Zerodha Kite was being updated with the correct holding averages for the subsequent trading session.
On February 24, too, some stoppage of exchange feeds for Nifty, Bank Nifty, and other indices led to the halting of operations of the country’s all brokerage firms. The issue had particularly become evident around 10:06 am. Another typical event on February 27 led to many technical problems that caused trading problems for Zerodha’s clients. However, Zerodha conducted a thorough postmortem of February 27’s issues and explained that the technical glitch happened due to the OMS vendor.
According to Zerodha brokerage review, its platform witnesses a humongous amount of logins and order placement activities in the early morning hours. This is again an exchange approved by an OMS (Order Management System) vendor. So, when the market opened on February 27, the OMS experienced connectivity issues, which led to the accumulation of trading orders. This is why the customers were seeing the “validation pending” error.
Multiple issues regarding Zerodha’s performance time and again have raised doubts in the minds of its customers whether Zerodha is going to remain a reliable trading platform?
Well, Zerodha is still India’s most prominent stockbroker and is a pioneer of its online discount brokerage model. With above 22 lakh active customers, Zerodha is a member of BSE, NSE, MCX, and NCDEX. Zerodha is also registered with the Securities and Exchange Board of India (SEBI). Since August 15, 2010, Zerodha has been in the retail stockbroking business, and it also provides Demat account-related services via its CDSL membership.
Zerodha, to its credit, has always remained compliant with the SEBI regulations and has never defaulted or violated any regulations. It is also a debt-free company. Zerodha also offers its own in-house trading platform called Kite. Thus, all these factors make Zerodha quite a reliable platform for trading, and a couple of technical glitches ultimately don’t mar its name and performance. Also, Zerodha has always displayed promptness in resolving technical issues and prioritizing customer needs.