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Updated January 29th, 2024 at 14:51 IST

Zerodha faces outage in smartphone trading app, users complain even after hours

As per website tracking app Downdetecter, the issue peaked at 9.42 am with 443 reports. Zerodha tweeted at 10 am that the connectivity issue was resolved

Reported by: Business Desk
Zerodha technical glitch
Zerodha technical glitch | Image:Zerodha
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Trending glitch: Online trading app Zerodha users faced an outage with their smartphone trading app Kite, with users taking to X to post about the issue.

The company responded on the issue resolution at 10 am on 29 January, about 15 minutes after the outage report surged on website tracking app Downdetector.

“Due to a connectivity issue, some of our users were intermittently facing issues with order placement on Kite. This issue is now resolved. We regret the inconvenience caused,” Zerodha had tweeted.

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Hours after the ordeal, customers and users sought the reason, as well as compensation as the issue kept trending on X.

“Just pay the losses,” a user posted on X around 2 pm on Monday.

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As of 2.48 pm, an issue in Capital market company CDSL (Central Depository Services) buffering was also reported, with the company taking cognisance after multiple complaints. Earlier, they had asked a user to alternate their connectivity settings or browser.

Is there an issue with selling stocks through Zerodha - CDSL. Stuck at the same screen after TPIN Authorisation and does not allow me to continue with the sell prompt,” a user tweeted.

Almost all of the outage was reported in trading at 99 per cent, while one per cent of users posted an issue in online brokerage.

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Moreover, users also threatened boycotting the Bengaluru-based online stock broker app.

A user tweeted, “I am going close all my accounts from Zerodha…and transfer all my holding with other brokers.”

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As per screenshots and videos shared, users lost about Rs 1,000 to Rs 3,500 in trading. One user even shared incurring a loss of Rs 7 lakhs. 

Others complained of not being able to place sell orders.

It's not an excuse.. order placed were neither confirmed nor we could take back the order...sold more than five times and caused loses,” a user posted.

Zerodha asked the users to raise a support ticket. This is reportedly the fourth outage for the brokerage firm's Kite in four months. Zerodha had gone down on December 4 last year, and also on November 6 and October 31 due to a glitch in order placement, orders not exiting on its Kite app and other such issues.

Only last week, rival platform Groww also saw several users complaining of an hour-long outage, because of which they were also unable to log into the platform.

 

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Published January 29th, 2024 at 14:34 IST

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