Zerodha - Number One Discount Broker in India
- Thread starter Traderji
- Start date
hello,
Got off from a a really long phone call from zerodha. All the issues were resolved in an efficient manner. I was assured that a couple of "convenience in trading" issues which do not hamper the functionality would be looked into and taken care of at the earliest. The effective troubleshooting is one of the reasons i would like to be associated with zerodha for a long time to come. Kudos Shiva,nagraj...
All said,lucky that i did not come across a "chip on the shoulder" executive to make the interaction difficult. regards
Got off from a a really long phone call from zerodha. All the issues were resolved in an efficient manner. I was assured that a couple of "convenience in trading" issues which do not hamper the functionality would be looked into and taken care of at the earliest. The effective troubleshooting is one of the reasons i would like to be associated with zerodha for a long time to come. Kudos Shiva,nagraj...
All said,lucky that i did not come across a "chip on the shoulder" executive to make the interaction difficult. regards
10 Securities suspended from Trading on NSE w.e.f Dec 10th 2013. http://zerodha.com/marketintel/Circulars/1537
Beware of Zerodha's system. You can lose money anytime with it.
And worse, they do Not care about it. Neither they recognize the fault of their faulty system, nor they compensate you for the loss. Not even respond to your emails, which in my case was sent to them twice, once with screenshots attached. I patiently waited for their response and behaved responsibly... But all went in vain - they are not interested in replying because they have No answer.
Therefore I have decided to put this on the record here in the interest of traders on how I had to suffer a loss because of Zerodha's faulty and unreliable system on Nov. 28th. It was my turn that day. Who knows tomorrow their faulty and unreliable system make you, or me again, its victim.
This is what had happened that day :
I had a margin of 7786 rupees on Nov. 28th. (see this screenshot of Cash Limit http://www.2imgs.com/28995872a1 ) I knew one lot of Nifty futures can be bought with this amount using CO. At that time, according to Zerodha's margin calculator here http://zerodha.com/margin-calculator/Futures/ , the exact amount required to buy one lot of Nifty futures using CO was 7732.
So when I placed a buy order (@6105) of Nifty futures (Note: this was my first trade of the day. Before this, I have Not done Any trade. So No question of using my transaction password) and checked my order book, I got spooked to see that the order book is showing three already completed orders which I had Not placed, and Not possible with that margin when it is already showing one open position (@6105)!! See this screenshot of my Order Book http://www.2imgs.com/9011d0fa29 to understand this clearly.
I immediately understood there is something wrong. These are either system generated erroneous/fake orders, or something else because:
A) My Nifty future buy cover order (buy @6105) was my First order of that day, which I did by using transaction password. No trade was done before, hence No question of using the transaction password... or placing the sell CO @6100.
B) And even assuming that the system generated Nifty futures sell order @6100 was done by me, then how is it possible that this order got squared off on my placing the buy order @6105? Is this how CO supposed to work? And if it was Not squared off (therefore it's showing open in the order book) then how with just 7786 margin three orders got executed there?!! Who did them? I only did one.
Firstly, surely Zerodha's RMS FAILED BIG TIME there. And even when it allowed that buy cover order, how the hell can it square off the first (system generated) sell cover order??!! COs can only be modified or exited. NO??
And even suppose I modified the trigger of the sell order (@6100) to square off it @6105. Then by your brokerage calculator I should have incurred a loss of 353 rupees. Right? This is indisputable. It is there for all to see. So what is the cash limit I should be left with after the completion of this first sell-buy (@6100 -@6105) cover order? 7333 rupees (7786 minus 353). Ok?
C) No no. Not so for the Zerodha's great unreliable system which placed another sell cover order on my behalf @6088!!! When I had (or should have) just 7333 rupees of cash left!!
See this screenshot of my Trade Book http://www.2imgs.com/5fee2f05d6 Since when Zerodha started allowing one lot of NF with 7300??
As I have mentioned in these posts here http://www.traderji.com/brokers-trading-platforms/89121-zerodha-part-3-a-147.html#post904338 , and you can also understand how panicky those moments would have been for me. I was not able to figure out which position to trust; to cut losses; to book profit etc. Admin window was showing messy figures. See this screenshot of Admin Positions window. I was in profit, I do not understand its math tho' http://www.2imgs.com/a011d0fa29 .
In the end, I suffered 800 rupees loss because of Zerodha's dangerously unreliable system.
And you know what? I got no help when all this was happening. When I contacted Z's customer care, some Vijay attended my call there, I told him I just have 7786 rupees margin and the Order Book is showing three completed orders when I have just entered my transaction password to do my first trade. He told me all those orders are placed by me, from my terminal and IP etc!! And that's that.
NB: Please go through all the screenshots (Order book, Trade Book, RMS cash credit, Contract note) attached carefully. You can see the order number and time etc.
In the contract note you would notice that the order number 2013112831379175 is shown as bought at 15:22, whereas the screenshot of the order is showing this exact order number as bought at 14:27 PM!! So the same order number was bought twice at two very different time!! http://2imgs.com/6fee2f05d6
Thanks for reading this long-winded post Do ask if you have any question for me. Do share if you have gone thru, or heard about, any similar experience.
Let us not suffer silently. Enough is Enough.
And worse, they do Not care about it. Neither they recognize the fault of their faulty system, nor they compensate you for the loss. Not even respond to your emails, which in my case was sent to them twice, once with screenshots attached. I patiently waited for their response and behaved responsibly... But all went in vain - they are not interested in replying because they have No answer.
Therefore I have decided to put this on the record here in the interest of traders on how I had to suffer a loss because of Zerodha's faulty and unreliable system on Nov. 28th. It was my turn that day. Who knows tomorrow their faulty and unreliable system make you, or me again, its victim.
This is what had happened that day :
I had a margin of 7786 rupees on Nov. 28th. (see this screenshot of Cash Limit http://www.2imgs.com/28995872a1 ) I knew one lot of Nifty futures can be bought with this amount using CO. At that time, according to Zerodha's margin calculator here http://zerodha.com/margin-calculator/Futures/ , the exact amount required to buy one lot of Nifty futures using CO was 7732.
So when I placed a buy order (@6105) of Nifty futures (Note: this was my first trade of the day. Before this, I have Not done Any trade. So No question of using my transaction password) and checked my order book, I got spooked to see that the order book is showing three already completed orders which I had Not placed, and Not possible with that margin when it is already showing one open position (@6105)!! See this screenshot of my Order Book http://www.2imgs.com/9011d0fa29 to understand this clearly.
I immediately understood there is something wrong. These are either system generated erroneous/fake orders, or something else because:
A) My Nifty future buy cover order (buy @6105) was my First order of that day, which I did by using transaction password. No trade was done before, hence No question of using the transaction password... or placing the sell CO @6100.
B) And even assuming that the system generated Nifty futures sell order @6100 was done by me, then how is it possible that this order got squared off on my placing the buy order @6105? Is this how CO supposed to work? And if it was Not squared off (therefore it's showing open in the order book) then how with just 7786 margin three orders got executed there?!! Who did them? I only did one.
Firstly, surely Zerodha's RMS FAILED BIG TIME there. And even when it allowed that buy cover order, how the hell can it square off the first (system generated) sell cover order??!! COs can only be modified or exited. NO??
And even suppose I modified the trigger of the sell order (@6100) to square off it @6105. Then by your brokerage calculator I should have incurred a loss of 353 rupees. Right? This is indisputable. It is there for all to see. So what is the cash limit I should be left with after the completion of this first sell-buy (@6100 -@6105) cover order? 7333 rupees (7786 minus 353). Ok?
C) No no. Not so for the Zerodha's great unreliable system which placed another sell cover order on my behalf @6088!!! When I had (or should have) just 7333 rupees of cash left!!
See this screenshot of my Trade Book http://www.2imgs.com/5fee2f05d6 Since when Zerodha started allowing one lot of NF with 7300?? As I have mentioned in these posts here http://www.traderji.com/brokers-trading-platforms/89121-zerodha-part-3-a-147.html#post904338 , and you can also understand how panicky those moments would have been for me. I was not able to figure out which position to trust; to cut losses; to book profit etc. Admin window was showing messy figures. See this screenshot of Admin Positions window. I was in profit, I do not understand its math tho' http://www.2imgs.com/a011d0fa29 .
In the end, I suffered 800 rupees loss because of Zerodha's dangerously unreliable system.
And you know what? I got no help when all this was happening. When I contacted Z's customer care, some Vijay attended my call there, I told him I just have 7786 rupees margin and the Order Book is showing three completed orders when I have just entered my transaction password to do my first trade. He told me all those orders are placed by me, from my terminal and IP etc!! And that's that.
NB: Please go through all the screenshots (Order book, Trade Book, RMS cash credit, Contract note) attached carefully. You can see the order number and time etc.
In the contract note you would notice that the order number 2013112831379175 is shown as bought at 15:22, whereas the screenshot of the order is showing this exact order number as bought at 14:27 PM!! So the same order number was bought twice at two very different time!!
http://2imgs.com/6fee2f05d6Thanks for reading this long-winded post
Do ask if you have any question for me. Do share if you have gone thru, or heard about, any similar experience.Let us not suffer silently. Enough is Enough.
Last edited:
Beware of Zerodha's system. You can lose money anytime with it.
And worse, they do Not care about it. Neither they recognize the fault of their faulty system, nor they compensate you for the loss. Not even respond to your emails, which in my case was sent to them twice, once with screenshots attached. I patiently waited for their response and behaved responsibly... But all went in vain - they are not interested in replying because they have No answer.
Therefore I have decided to put this on the record here in the interest of traders on how I had to suffer a loss because of Zerodha's faulty and unreliable system on Nov. 28th. It was my turn that day. Who knows tomorrow their faulty and unreliable system make you, or me again, its victim.
This is what had happened that day :
I had a margin of 7786 rupees on Nov. 28th. (see this screenshot of Cash Limit http://2imgs.com/2i/i/529d2095/d78919fe62b803e3e59fbbb2f9681795/28995872a1.f.jpg ) I knew one lot of Nifty futures can be bought with this amount using CO. At that time, according to Zerodha's margin calculator here http://zerodha.com/margin-calculator/Futures/ , the exact amount required to buy one lot of Nifty futures using CO was 7732.
So when I placed a buy order (@6105) of Nifty futures (Note: this was my first trade of the day. Before this, I have Not done Any trade. So No question of using my transaction password) and checked my order book, I got spooked to see that the order book is showing three already completed orders which I had Not placed, and Not possible with that margin when it is already showing one open position (@6105)!! See this screenshot of my Order Book http://2imgs.com/2i/i/529d1e97/bf7c37400232846577a730294c211286/7dcc0d27f4.f.jpg to understand this clearly.
I immediately understood there is something wrong. These are either system generated erroneous/fake orders, or something else because:
A) My Nifty future buy cover order (buy @6105) was my First order of that day, which I did by using transaction password. No trade was done before, hence No question of using the transaction password... or placing the sell CO @6100.
B) And even assuming that the system generated Nifty futures sell order @6100 was done by me, then how is it possible that this order got squared off on my placing the buy order @6105? Is this how CO supposed to work? And if it was Not squared off (therefore it's showing open in the order book) then how with just 7786 margin three orders got executed there?!! Who did them? I only did one.
Firstly, surely Zerodha's RMS FAILED BIG TIME there. And even when it allowed that buy cover order, how the hell can it square off the first (system generated) sell cover order??!! COs can only be modified or exited. NO??
And even suppose I modified the trigger of the sell order (@6100) to square off it @6105. Then by your brokerage calculator I should have incurred a loss of 353 rupees. Right? This is indisputable. It is there for all to see. So what is the cash limit I should be left with after the completion of this first sell-buy (@6100 -@6105) cover order? 7333 rupees (7786 minus 353). Ok?
C) No no. Not so for the Zerodha's great unreliable system which placed another sell cover order on my behalf @6088!!! When I had (or should have) just 7333 rupees of cash left!! See this screenshot of my Trade Book http://2imgs.com/2i/i/529d1f68/843e0454f594f6bb994b54e8246f5962/5fee2f05d6.f.jpg Since when Zerodha started allowing one lot of NF with 7300??
As I have mentioned in these posts here http://www.traderji.com/brokers-trading-platforms/89121-zerodha-part-3-a-147.html#post904338 , and you can also understand how panicky those moments would have been for me. I was not able to figure out which position to trust; to cut losses; to book profit etc. Admin window was showing messy figures. See this screenshot of Admin Positions window. I was in profit, I do not understand its math tho' http://2imgs.com/2i/i/529d2370/8e2ea60c3c9c1b97a57bf8a2d75b1c7f/a011d0fa29.f.jpg .
In the end, I suffered 800 rupees loss because of Zerodha's dangerously unreliable system.
And you know what? I got no help when all this was happening. When I contacted Z's customer care, some Vijay attended my call there, I told him I just have 7786 rupees margin and the Order Book is showing three completed orders when I have just entered my transaction password to do my first trade. He told me all those orders are placed by me, from my terminal and IP etc!! And that's that.
NB: Please go through all the screenshots (Order book, Trade Book, RMS cash credit, Contract note) attached carefully. You can see the order number and time etc.
In the contract note you would notice that the order number 2013112831379175 is shown as bought at 15:22, whereas the screenshot of the order is showing this exact order number as bought at 14:27 PM!! So the same order number was bought twice at two very different time!! http://2imgs.com/2i/i/529d2425/9fd6bdca40a9a81238462ff4c0cd170c/6fee2f05d6.f.jpg
Thanks for reading this long-winded post Do ask if you have any question for me. Do share if you have gone thru, or heard about, any similar experience.
Let us not suffer silently. Let us take them to the cleaners. Enough is Enough.
And worse, they do Not care about it. Neither they recognize the fault of their faulty system, nor they compensate you for the loss. Not even respond to your emails, which in my case was sent to them twice, once with screenshots attached. I patiently waited for their response and behaved responsibly... But all went in vain - they are not interested in replying because they have No answer.
Therefore I have decided to put this on the record here in the interest of traders on how I had to suffer a loss because of Zerodha's faulty and unreliable system on Nov. 28th. It was my turn that day. Who knows tomorrow their faulty and unreliable system make you, or me again, its victim.
This is what had happened that day :
I had a margin of 7786 rupees on Nov. 28th. (see this screenshot of Cash Limit http://2imgs.com/2i/i/529d2095/d78919fe62b803e3e59fbbb2f9681795/28995872a1.f.jpg ) I knew one lot of Nifty futures can be bought with this amount using CO. At that time, according to Zerodha's margin calculator here http://zerodha.com/margin-calculator/Futures/ , the exact amount required to buy one lot of Nifty futures using CO was 7732.
So when I placed a buy order (@6105) of Nifty futures (Note: this was my first trade of the day. Before this, I have Not done Any trade. So No question of using my transaction password) and checked my order book, I got spooked to see that the order book is showing three already completed orders which I had Not placed, and Not possible with that margin when it is already showing one open position (@6105)!! See this screenshot of my Order Book http://2imgs.com/2i/i/529d1e97/bf7c37400232846577a730294c211286/7dcc0d27f4.f.jpg to understand this clearly.
I immediately understood there is something wrong. These are either system generated erroneous/fake orders, or something else because:
A) My Nifty future buy cover order (buy @6105) was my First order of that day, which I did by using transaction password. No trade was done before, hence No question of using the transaction password... or placing the sell CO @6100.
B) And even assuming that the system generated Nifty futures sell order @6100 was done by me, then how is it possible that this order got squared off on my placing the buy order @6105? Is this how CO supposed to work? And if it was Not squared off (therefore it's showing open in the order book) then how with just 7786 margin three orders got executed there?!! Who did them? I only did one.
Firstly, surely Zerodha's RMS FAILED BIG TIME there. And even when it allowed that buy cover order, how the hell can it square off the first (system generated) sell cover order??!! COs can only be modified or exited. NO??
And even suppose I modified the trigger of the sell order (@6100) to square off it @6105. Then by your brokerage calculator I should have incurred a loss of 353 rupees. Right? This is indisputable. It is there for all to see. So what is the cash limit I should be left with after the completion of this first sell-buy (@6100 -@6105) cover order? 7333 rupees (7786 minus 353). Ok?
C) No no. Not so for the Zerodha's great unreliable system which placed another sell cover order on my behalf @6088!!! When I had (or should have) just 7333 rupees of cash left!!
See this screenshot of my Trade Book http://2imgs.com/2i/i/529d1f68/843e0454f594f6bb994b54e8246f5962/5fee2f05d6.f.jpg Since when Zerodha started allowing one lot of NF with 7300?? As I have mentioned in these posts here http://www.traderji.com/brokers-trading-platforms/89121-zerodha-part-3-a-147.html#post904338 , and you can also understand how panicky those moments would have been for me. I was not able to figure out which position to trust; to cut losses; to book profit etc. Admin window was showing messy figures. See this screenshot of Admin Positions window. I was in profit, I do not understand its math tho' http://2imgs.com/2i/i/529d2370/8e2ea60c3c9c1b97a57bf8a2d75b1c7f/a011d0fa29.f.jpg .
In the end, I suffered 800 rupees loss because of Zerodha's dangerously unreliable system.
And you know what? I got no help when all this was happening. When I contacted Z's customer care, some Vijay attended my call there, I told him I just have 7786 rupees margin and the Order Book is showing three completed orders when I have just entered my transaction password to do my first trade. He told me all those orders are placed by me, from my terminal and IP etc!! And that's that.
NB: Please go through all the screenshots (Order book, Trade Book, RMS cash credit, Contract note) attached carefully. You can see the order number and time etc.
In the contract note you would notice that the order number 2013112831379175 is shown as bought at 15:22, whereas the screenshot of the order is showing this exact order number as bought at 14:27 PM!! So the same order number was bought twice at two very different time!!
http://2imgs.com/2i/i/529d2425/9fd6bdca40a9a81238462ff4c0cd170c/6fee2f05d6.f.jpg Thanks for reading this long-winded post
Do ask if you have any question for me. Do share if you have gone thru, or heard about, any similar experience.Let us not suffer silently. Let us take them to the cleaners. Enough is Enough.
I have not traded much with them but i faced 2 issues 3 months back which some of the members are reporting now.
One is the order and trade book does not show the order and trade even after getting executed and in this confusion i put one more order and that too got executed.
The second one, when market is falling then its market order does not worked.
I thought both cases were just a technical glitch which may have happened in my case so i kept quite
