Alternatives to Zerodha for Frequent F&O Trading

@sseth @siva @nithin i see lot of interactions going on here which may not help. If zerodha can setup proper grievance redressal mechanism such things can be addressed. Regards support tickets, apparently with a huge active client base i guess Zerodha is finding it difficult to handle unless they scale up.

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You can tag ceo directly and he sometimes directly replies to them and sometimes he ask concerned team to look into, not’ sure what else is required. Point here is he doesn’t want to share ticket number in that case nothing can be done from our end.

We are scaling up and at faster rate, doing many changes to make it more efficient and effective, believe the changes are already noticeable compared to last few months and it will be much more noticeable in coming months.

Point here is that HE does not want to share the escalation contact (if at all anything ever exists), and HE provides incorrect one and later deletes it, and “in that case it will end up like this only, too many unnecessary, unyielding interactions.”

Point is when a user quotes him from his posts (like “in that case it will end up like this only, too many unnecessary, unyielding interactions.”), HE keeps deleting/editing his own messages posted earlier to remove that part. HE even deletes messages of other users (like mine 1st message of mail-bouncing, and those posted by user durggesh). Sole focus is to present Zerodha as best and keep neat and clean, but its the users who continue to suffer.

Point is “You can tag ceo directly and he sometimes directly replies to them” - that is the only way to escalate when the efficient support team continues to copy-paste the definitions of standard order types, or put the blame on customer of wrongdoing. Ticket has been reopened and closed by them 6 times.

Point is that HE just wants to get this issue removed publicly, without a proper communication sent from a right escalation authority. At most, his helpdesk will once again respond by the same copy-paste.

Point is to focus on the issues/complaints, and provide a timely redressal. If a person being the admin cant pull out the tickets raised by the user, what’s the point in asking for ticket?

Point is HE is only promising that “We are scaling up and at faster rate”, and no suitable redressal to look at the current problem.

Point is that the CEO has been tagged copule of times by CoolBird and earlier by another user, and still the issue remains open since last 9 days.

Point is also that no system is perfect, and while the defense of being the best continues, the reality is that such errors cause huge losses to individuals while the brokerage continues to be earned.

i thought this is a blog for general public & not a Zerodha helpdesk so don’t understand how you consider this as a platform for redressal. I feel you should have an effective complaint management system which every broker/entity in India has…

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There is no alternative to zerodha, sad but truth.
Rest of brokers you can’t even expect basic service of placing hassle free orders.

yes, agree…zerodha is the best user friendly system we have…if they fix the support part it would be great…zerodha is so open where we can even reach out to the CEO

@sseth if he is asking for ticket no…why don’t you share it? give them a chance to resolve your issue

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Just think - If he is the admin and is also a Zerodha official, is it really hard for him to find out the tickets raised by the user??
Shouldn’t he had already done that by now, if there was any intention to redressal???

Zerodha is good platform, and that’s the reason ppl like me have been with them for last 6+ years. But even good systems have their set of challenges. The complaints need to be addressed when they arise.

Of course, the following is also true.

But let’s be realistic. Executives across the globe often hire/delegate the social media posting to subordinates. So not all posts are by them.

May be nithin is posting everything on his own, may be he is doing it partially, or may be everything is done by representative.

But the issue at hand is still a problem even after 9 days.

If there is something being posted with my ID, it is me. :slight_smile: I give myself 30 mins to 1-hour daily checking/responding on various platforms, so it isn’t really possible to answer everything. And I can’t really be giving more time than that as the CEO of the business for this exercise.

Orders can’t get placed on their own. Every day we have ~10 million orders being placed on the platform. If there was an issue, we would have gotten to know from other users.

About your complaint/suggestion:

The default order type on Kite is Limit. If you change and make it market, it will remain market for the rest of the day. The next day morning it is again limit by default.

If you place a limit buying order at a price greater than the market price, it will become a market order. Vice versa in the case of selling orders. I am guessing you know it, but reiterating since you said your limit order became a market order.

In terms of another popup confirmation before placing an order, we will not be able to offer that. We have a very large active trading population who will be inconvenienced. As a business, it isn’t possible to please 100% of customers, so we have to do what we think is the best for the majority of the customers.

But yes, our support isn’t something we are proud of and we are working on improving it. If only customers first searched for their queries on the support portal before calling us, our load on support will drop by at least 80%. But most people don’t bother and just call/create tickets without checking.

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Just spoke to @siva, he said it is on our list of things to do, give an option on Kite settings for folks who want a confirmation popup. But no timelines on this, it is a low priority on our list of things to do.

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@nithin @siva you are saying we will improve our customer service first , anyway i am not bothered anymore in zerodha , i am trying to move other broker because of option buying issue …
anyway i have an bad experience in support team , i will never seen this much of delay in any other broking company , i raised a complaint in JAN 2020 - i received a reply in april 2021 what a customer services , if anything happen to our money if we need to wait one year or even more sir , please you have any solution for this customer service , for your understand i will post the raised ticket and solved date also
your support team is ULTRABAD

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@nithin - Many Thanks for taking time out of your busy schedule in the absence of a suitable escalation matrix at Zerodha.

I have been an admirer of your writing skills, and today also you proved.
Unfortunately, good writing is NOT a substitute to complaint redressal.

It appears that you may not have read the precise problem reported, as you have simply copy-pasted the definitions and working of order types - Exactly what your efficient helpdesk did.

If there was an issue, we would have gotten to know from other users,” - other than me, there are at least two users on this very thread who have reported facing similar/related issues, and one even suggessted a double-cost workaround for it. Well, that’s left to them.

It’s also great to say “our support isn’t something we are proud of and we are working on improving it,” and then immediately conclude by putting it back on users and saying “But most people don’t bother and just call/create tickets without checking.”

Honestly, I don’t mind how you plan to take any suggestions/fixes, I don’t mind what priority order you and siva decide, I don’t mind that despite “Every day we have ~10 million orders being placed,” you still don’t have a escalation for customer complaints (let alone a proper heldpesk), I don’t mind whether there is pride in helpdesk or users are to be blamed, and I dont mind how you plan to take things in future.
I also don’t mind that you and Siva are contradicting each other. You say “The default order type on Kite is Limit. If you change and make it market, it will remain market for the rest of the day,” Siva confirmed in earlier thread “exit from positions is always market by default” and actually he is right.
I also don’t mind that Zerodha officials have all the time in the world to delete/edit (parts of) messages posted on this forum to maintain neat and clean image, but they don’t have time for customer issues.
All this I leave to Zerodha officials.

But the fact of the matter is - the loss-causing problem has occurred twice in last 3 months with me alone (first on 9Apr, and second on 30Jun). If a user is NOT sending/punching anything, and orders are getting executed without his knowledge/consent/inputs, then Zerodha cannot simply wash off its hands by saying that the system works that way, and the user must have sent the orders. It’s Zerodha’s system, and accountability is expected.

Please understand that your system, and its whatever issues when unnoticed and unfixed, causes loss to users. I have suffered bigger losses in the past on my own during the 6+ yrs association with Zerodha, but these two instances are NOT mine.

Suitable redressal is required, not just a “diplomatic” copy-paste and selective digression from the problem.

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With all due respect, if you are able to onboard 40 lakh customers on your Zerodha platform, and earn brokerage from them, don’t you think you should be very well be able to service them completely as well.

This is such a lame excuse that customers are stupid, they don’t search for answers, they simply call our support staff blah blah.

And if you are not able to service them, why don’t you stop onboarding new customers, why don’t you start putting an entrance exam for all wannabe zerodha customers, so that only the most intelligent of all people can get a chance to use zerodha.

If you are taking your full brokerage from customers, you are also bound to give them full customer support, rather than putting the blame on customers.

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yes, as we see many people have complaints & it’s getting unmanageable for zerodha. @siva my ticket has been marked by your support team as resolved without stating progress. pls let me know when i would receive my MF transferred to coin as already about 18 days have elapsed after submitting my forms. Pls get your team to follow-up. Thanks

Coming to original question of alternate brokers.
I was kind of a dormant user of Kotak securities, they do ask for confirmation before executing an order. And after launching new plans (trade free plan) their brokerage is comparable to Zerodha, except that they charge interest on margins provided by pledging your stocks.

Nobody else in this thread has faced the same issue as yours. One of them said that he placed a market order by mistake instead of a limit order. This is different from automatic order execution that you complained about.

Is your priority getting your issue addressed or changing the process followed by Zerodha?

Please don’t get me wrong - but your messages are creating an impression to defend Zerodha for reasons best known to you, despite so many varied complaints from so many users and lack of basic support (plus so many issues which I have highlighted in previous message).
Again, Please don’t get me wrong if you are a genuine user, and I truly wish you (and other Zerodha users) don’t have to suffer losses like me.

As for what I want is already posted in my previous reply to nithin.
Let’s see if there is some concrete redressal, OR if we get to see another “diplomatically” drafted message without any resolution.

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I am not offended. I faced issues with Zerodha customer support in other areas too as recently as a month ago.
My intention is just to make you focus on only your problem.

Bhai jab Zerodha wale maan rahe hain k “costumer support is not upto the mark”…toh jo problem solve kar sakta hai use toh batade apna ticket no.!!
CEO khud reply kar raha hai, kam se kam use de de apna ticket no.
(If your intention is really to solve the matter…and later you can always leave Zerodha if not satisfied).

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