Technical glitch costing Zerodha users dearly
image for illustrative purpose
New Delhi: Several users on Friday reported losing lakhs of rupees, while trading on brokerage firm Zerodha’s trading platform Kite due to a glitch in the application. However, the company said the problem was due to a connectivity issue at Bombay Stock Exchange (BSE).
“Some of our users may be seeing orders in the ‘Open Pending’ state for BSE F&O orders. This issue is across brokers. We are working with BSE to update the status of these orders,” Zerodha wrote in a post on X after users reported the issue.
Later, the brokerage firm informed in another post that “the issue has now been resolved by the exchange.”
“Incurred a loss of over Rs15 lakh today due to a Zerodha glitch. Orders were pending from 10:55 AM, and I was unable to cancel or modify them. At 11:24 AM, 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 Rs15 lakh across two accounts,” a user wrote.
@zerodhaonline you guys need to pay us. We lost nearly Rs7 lakh from profit due to your glitch. Order going in the pending order. Scary panic situation. Nearly Rs30 lakh were at risk.
