Hello frnds,
Did anyone face any issue with orders/trades today (16th June 2017) during market closure time around 3:15PM in cash and F&O segments. The new orders and the modification requests placed around or after 3:15PM are hanged in ‘Modification validation pending’ state. All these orders are sent to exchange at 3:40PM, which are rejected obviously. I Missed some important trades. I today raised a case with support team but they are simply saying that ‘it was a technical glitch’.
This is serious concern, not facing for first time but visible more often. Is there any escalation matrix to escalate the case or is it like this we have to survive with Zerodha like this ? I never faced such issues with Sharekhan etc till now.
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Thank you for writing to Zerodha Support!
Orders for a few clients were pending for validation around market close today. The issue was identified quickly and rectified. We apologize for the inconvenience caused to you.
These orders were rejected as the equity markets closed.
I had the same problem in last 10 minutes of session. I too wanted to close one of my losing trade but was unable to. Now this loss could be higher on Monday.
The orders are still there and unfortunately can’t be cancelled as of now.
Yesterday, my order too at 15:27 got rejected (went from “Order failed” → to order “validation pending” stage) at 15:27.
I had posted about the problem of “order rejection at market closing hours” many days back, but the problem is still persisting and I think that post has been swiftly delisted!
I thought this problem was due to MIS orders and was SOLVED, after MIS orders were made to pay penalty of 20 Rs???, but apparently it still persists…
Yes, same issue experienced by me too. Also got the response from support to try the orders again when the market was open. Some solid advise that was.
Yes, true. It should be because of the heavy load on the Zerodha system due to MIS orders square off. Zerodha tried to off load the system by charging the MIS orders auto square off, which did not help.
This is a serious issue and don’t know how to escalate this. Customer support is giving funny answers like ‘try again when the market is open; we identified and rectified the fault immediately… etc’. We have to get this addressed by Nithin. I do not know how to reach him out.
This is not news to me. The system has been always erratic during high volumes/volatility. This has been addressed several times by thousands of people but “hope” is the only resolution so guys be more patient & face some more difficulties or else switch to better broker instead of complaining.
True.
Today I placed an order at 9:15:01 and it was sent to the exchange at 9:15:15 … delay of 14secs which is very crucial.
I don’t think Zerodha can sustain during the time of high volatility in the market.
I remember the days when several brokerages were unable to allow it’s clients (having crores or margins in their accounts) to trade due to the reason that brokerage not having enough margin at the exchanges or these kind of servers load issues.
What I feel is, Zerodha is a discount brokerage for novice traders, long term investors and not a rigid platform for core/regular traders. It cannot compete with other full fledged brokerages like Sharekhan, Motilal Oswal etc.
How ever, I am impressed with the Kite web trading which is very lite and working on the fly; no other brokerage has such simple web trading.
