Zerodha Should pay Traders their lost money due to yesterday's technical glitch..
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Hi Traders(especially those who's broker is Zerodha) here we are talking about Thursday's technical glitch in trading platform of zerodha which causes loss of hard earned money of traders. They were not picking up their calls at Call and trade facility. Traders who put Bracket order faced major problem as thier Stoploss and Target orders were cancelled. Some of lucky ones like me got position squared off at profit by trading system automatically after 2 to 3 hours. But what about the my fellow traders at zerodha who end up their positions in losses despite achiving target first. So during reading the traders reactions at Quora i have decided to start a petition. As i thought it will be helpful instead of reaching to the So called "Law System". Here are the thoughts of my fellow quorians who used to trade on zerodha and were end up in loss yesterday due to technical glitch despite of reaching their target first.
1.Jatin Goyal, studied at Doctor of Philosophy Degrees
"Today in bracket orders clearly I must have earned good profits because my target was a hit, but due to their 3rd class technology order didn't get executed. Rather they removed the target order and stoploss trigger from order book. When I tried to exit from open position it shows that all Bracket orders are exited from order book. But there was nothing in order book (neither stop loss trigger nor target). Later all profitable positions turned into loss. To my surprise even it didn't exit at stop loss trigger price which I entered originally. When I called customer care (which always sucks) they said it will be exited at market price now, which was far away from my actual take away loss. (In fact it was a clear profit day for me which zerodha turned into loss). Who is responsible? Will you reimburse Nithin Kamath?"
"I will not pay a single penny Becasue of your platform failure.
I placed a Bracket Order.
My target Trigger but order not got closed.
Stop-loss cancel and now the order is open and No option to close it.
Just Now, it close below Rs.20 of my Stop-loss price.
Faced a loss of - Rs.5484/-
Not gonna pay this single penny.
I removed all my funds from my bank account just now.
I am gonna file a case against you guys in my local court with all evidence which is in my favour.
And also just now complained to SEBI.
I know SEBI will not do anything but my local court will give me justice for sure.
ITS NOT JUST ME WHO LOST MONEY TODAY. THERE ARE MANY TRADERS WHO LOST THEIR HARD EARN MONEY.
YOU CAN CHECK HERE Trading Q&A by Zerodha - All your queries on trading and markets answered
I will keep posting this post untill I get a response…
I Would Not suggest you to trade with Zerodha.
Please I request all INVESTOR/TRADERS Remove all your Holdings Anytime They can GO down and your hardearn money will vanish they will give you only one Answer “Technical error” SEBI will not do anything.
I suggest all the Traders to trade with Trustable Brokerage House.
If anyone want proof I am ready to upload that to."
So please do sign a petition so further such incidents will be taken care of & ministry will take a serious action against zerodha.
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