Not surprising. AVP of tech at Z recently admitted (proudly) there is no accountability at Z. And most of them volunteer lot of time for Rainmatter initiatives.
Z is not the priority clearly- and all this with a tiny team.
Thankfully they are still reliable and trustworthy⌠which retains lot of their active clientsâŚbut if they started now, theyâd be not competitive at all.
If there is no accountability, platfirm reliability will also start becoming an issue some time in future
Many users probably arenât even aware of the hidden or platform specific charges.
For instance, when using Angel through a sub broker, they charge a percentage based brokerage by default.
Groww does something similar when u buy via MTF.
If Zerodha could somehow make these fee structures transparent to users indirectly, it could really work to their advantage 
But if zerodha has came down to number 3 and angel has advanced to number 2 you have to look one more data that this is not new customer acquisition it is the rotation of customers zerodha has losen the client base and angel has gained the client base which means users have shifted from zerodha to angel.
And if users have shifted from zerodha to angel majorly users have opened account with angel online without any sub broker which doesnât add to the sub broker fixed percentage cost.
Zerodha is losing clients because zerodha is not taking serious the rolling out of new features which other competitors are at pace. And this attitude will soon cause zerodha huge affect the only reason zerodha is still in number 3 is trustworthiness and reliability. But these two factors are based on complete experience as soon as new players like dhan , fyers are establishing and after 1 or 2 years people will start trusting them also and will feel comfortable to switch to them from zerodha as they will be established at that time will have experience also and are providing features that zerodha donât then definitely people will shift to them.
I agree with @Arun4
CEO Sundar pichai words:
Relentless Speed and Iteration: Once Chrome launched, the team focused on aggressive, rapid iteration. While other browsers updated every six months to a year, Chrome shipped updates roughly every six weeks, rapidly improving speed,stability, and web standards support.
Zerodha is present Internet Explorer.
I raised this concern a year ago. I had a feeling something like this would eventually happen to our dear Zerodha.
I hope Zerodha gets back to the top soon.
This can only be possible if zerodha comes up with some innovative technology and features.
But currently zerodha seems to have so much behind that instead of new innovative features they are failing to deliver the features which are already provided by competitors and have became a standard in market. And if any person asks for any feature which truly helps traders or investor they have just one statement copied to their systemâs clipboard and just paste the statement âitâs currently in pipeline canât give exact ETAâ and they just forgets what was demanded.
Main reason for zerodha downfall would be lack of accountability, failing to deliver important features that other competitors provides from a very long time, and their rude behaviour of not listening what actually their customers need.
They are not rude, but perhaps âindifferentâ and âentitledâ
I agree with most of the comments here, they are good points really. What makes Zerodha not so agile for rolling out new features is beyond me. In modern times you must be ahead of the competition but Zerodha is losing ground actually. The simple feature of adding multiple positions of options to a new basket so that they can be executed once took 2 years to implement when others had implemented it already 2 years before. This is just one example but many features that users are crying for are not coming fast enough and then eventually users start losing interest and start looking elsewhere. I donât know what crisis Zerodha is waiting for to become swift in their work
Zerodha is afraid to take risks - they are afraid to lose. Zerodha is like a soldier going to war with an AK-47 but does not want to fight because someone will die.
A good soldier needs to fight else be killed by someone else (this is what is happening slowly). If they donât change I see the same NOKIA and KODAK story in future.
With so much resources they cant even find an active fund manager on this planet. No one ever beats passive funds in the long run? ego or strategy?
@VijayNair I donât actually meant rude it was just an synonym that they partially ignore some of the important feature requests from the customers. I was not putting a strong spotlight on the word ârudeâ it was just a synonym term I used to describe their ignorance on the important features demanded by the community.
Zerodha going down to number 3 from number 2 should be the warning sign and zerodha should definitely improve itself but if they ignore this warning and a crucial downgrade then perhaps sorry to say that zerodha will be the next nokia or bsnl.
In terms of P&L zerodha is still much ahead than others. Not every onboarded client generates profit. Zerodha had set trends in past with innovative and properly backtested features, if you see the past record.But yes , the new feature rollout pace has been lagging relative to other brokers. Clients have the right to switch to other brokers if it fits the usecase. It is a good news for industry, instead of one broker, moeny is getting diversified. I wish we have top 10 brokers having equal clients and profits.
To be fair, Iâm not completely defending Zerodha. Other brokers are attracting newbie traders because they offer an all-in-one screen and keep pushing new features, whereas Zerodha still lacks crucial tools like placing an OCO (stop loss and target) straight from the positions tab. Still, for me, stability and low pricing beat having a bloated app. And when looking at it from a business standpoint, the active client comparison is overblown. Revenue and PAT are what count at the end of the day, and Angel One and Groww arenât even close to Zerodhaâs numbers. Until we see a steep drop in both the client base and actual profitability together, Zerodha is doing just fine.
Itâs because a lot of the very active traders have largely stayed with Zerodha, most of whom have significant pledged capital in Demat and donât want to endure the shifting hassle (associated friction and opportunity costs). Plus Z is clean and still reliable.
And a lot of this comes from Z being an early mover in the discount broking spaceâŚ
I suppose I am one such client.
And the taxation reports while still lacking are better than most.