On Monday, Zerodha, one of India’s leading brokerage firms, found itself at the centre of a significant social media backlash as a result of a technical glitch that prevented users from successfully placing their trading orders. This malfunction led to considerable financial losses for many individuals, sparking outrage among the affected users who took to the social media platform X to express their frustration and disappointment.
A number of users voiced their grievances publicly on X, with some even threatening to initiate legal action against the brokerage firm due to the financial harm they experienced. One user posted a message on X, stating, “My orders are not getting executed. I will take you to court if I lose any single penny because of this issue.” This message reflects the severe frustration felt by users who were unable to complete their trades due to technical difficulties.
Another user expressed their discontent by saying, “I lost 10 lakhs due to Zerodha. My orders were executed 1.5 hours late at 9:15 AM. @zerodhaonline, what on earth is going on? This is money that we earned through hard work, and I want my money back. I am going to take legal action.” This statement underscores the significant financial impact of the glitch on users and their intention to seek legal recourse for their losses.
In addition to these complaints, there were numerous other posts from users who reported similar issues with their orders not being placed through Zerodha’s platform. One such post featured a screenshot with the hashtag #zerodha and a message reading, “Zerodha is not executing my orders,” accompanied by a frustrated emoji. This post exemplifies the widespread dissatisfaction among Zerodha’s user base.
In response to the growing criticism, Zerodha took to social media to address the issue and offer an explanation. The company posted a message on X stating that the technical problem had been resolved and apologized for the inconvenience caused to its users. Zerodha’s statement read, “Some of our users were experiencing difficulties in seeing the latest status of their orders while the orders themselves were successfully placed. We have now fixed this issue, and the status of new orders is updating correctly. We are currently working on updating the status for older orders. We apologize for the inconvenience this situation has caused.”
Despite Zerodha’s assurances, many users were not convinced that the problem had been fully addressed. Some continued to express their dissatisfaction on X, demanding that the brokerage firm be held accountable for the losses they incurred. One user commented, “@SEBI_India, this issue is not resolved. For the current order, it’s still showing an internal error.” This comment indicates that the technical difficulties persisted for some users, despite Zerodha’s claims of resolution.
Another user voiced their frustration by writing, “I am still facing issues with my old orders. Who will be responsible for the losses incurred? You need to fix this problem immediately.” This post illustrates the ongoing concerns of users who felt that Zerodha had not adequately addressed the problems or compensated them for their financial losses.
Overall, the situation highlights a period of significant discontent among Zerodha’s users, who are demanding both a resolution to the technical issues and accountability from the brokerage firm for the financial setbacks they suffered. The incident also underscores the broader challenges that financial technology companies face in maintaining reliable service and addressing user concerns in a timely manner.
