I do wonder if any orders were placed on behalf of customer who didn’t even login to their system yesterday!!!
BTW - If this is a “technical glitch” I shudder to think what they’d call an “utter and complete disaster”. I mean, SEBI has to step in and sort this mess…they have 3 days (2.5 now).
These guys don’t even have half-decent lawyers. Not gonna end well for them that’s for sure.
Crazy level trading! I like how much u trust Dhan for trading with big capital!
Yeah, they say it’s because the orders are fired in the backend but are displayed later on the main screen. So, it makes it look like a delay when it’s actually not.
Yes this is the main benefit of using their APIs and Webhook integration with TV pinescripts.
It’s the most transparent community to be honest and they do take criticism positively. The bossman is always active!
I trade Nifty Options and I trade 1 minute chart range breakouts. The main issue I face was candle formation was incomplete, the chart would lag a bit and I used “instant order placement” using the + sign so that button would disappear sometimes and spoil my trading momentum.
Upstox & Fyers also has TV Library charts and their 1 minute charts are robust but I don’t like their apps at all!
For non scalpers, it is fine but for people who like fast scalping, nothing beats the execution of Kite.
All I wish now is Kite to bring Trade from TV charts directly so that scalpers can be more efficient in managing quick scalps.
On Dhan web there is a refresh issue. This has been acknowledged by Dhan. As per them they will fix it soon.
Are you trading on https://tv.dhan.co or on Dhan web using tv charts ?
Yes, Always traded using tv.dhan with the option “instant order placement”. Had got the issues fixed by being active in the community that time from several accounts for a year but still some small issues are there. The most important one being candle formations which is unresolved till date. I had asked PJ to refer to TV library from Upstox but still no improvement.
I am just waiting for Zerodha to launch their TV library as it’s in works.
Rest, I believe they are trying their best to rise and improving constantly! They do listen to requests and accept their shortfalls too.
#Important Update for Shoonya Customers!
We faced a technical glitch on 13th April 2023, which impacted our clients. To clear your queries we shared a detailed email on how you can share your concerns with us. It also outlines the next steps, assuring you of our support.
For your convenience, we have created a step-by-step video guide and a blog.
Watch: #ImportantUpdate about Technical Glitch on 13 Apr | Step-by-step Guide To Verify & Square-off Trades - YouTube
Blog: Guide for Managing Your Trades, w.r.t Technical Glitch - 13th April
We’re here to help!
Thanks for your patience and continued support!
Loss seen in my account was because of Ghost Trades, NSE contract note was clean, later on Finvasia contract note was also clean and both contract notes are tallying.
Today I initiated total fund Withdrawal , it got accepted , hope that funds will appears into my bank account by EOD as per Finvasia’s promise .
By the way the customer support is still not operating ! I tried calling them but nobody bothered to take the call, live chat kept me waiting for an hour and still counting, no show here also. Pathetic, after going through all this they are not trying to improve, a real pity !
Anyway once the funds are back into my bank account , my next step is to close the account with them, they deserve it. Good by Fantasia, wishing you all the best. Sorry that like me thousands of clients are departing from you, but in a way it is better for you , now you can cater better to a very small client base of 1000 or less !
By the way today I opened an account with Kotak , in just 10 minutes , account is up and running ! (I need to pay Rs 99 + GST for the plan I selected Zero brokerage for all segments.
Is there any way to buy insurance against brokerage firms messing up (like technical bug, market crash and brokerage company facing huge loss etc).
I use Zerodha, and it is quite safe. But I would be happy to pay a premium for this extra peace of mind.
@iamshrimohan
What happened in Finvasia is bizarre. It’s nothing like any tech glitch I faced anywhere else. Read my post above.
I agree no broker is free from technical issues, but what happened with Finvasia , that is firing random orders (ghost orders) was never heard happening with other brokers, other brokers’s terminal got frozen many a time but it was only for a short duration , not a day long affair as happened with Finvasia.
Kotak did face an issue in the past , but what I heard that they compensated all clients who suffered losses , and that amount was around Rs 170 Cr (this is what I read, not sure about it)
Lack of customer support is a very big issue with Finvasia , right from the very beginning of their operations, even today also I waited for 30 minutes+ .
I have checked with many traders who are into this for years, everybody confirmed that they faced issues with their brokers, even with full service brokers too. But Ghost trades is something nobody had experienced. And even they faced some technical glitches, most brokers were very responsive under such circumstances, and as I mentioned in my earlier post , brokers like Kotak even went further and compensated for the losses.
I am 60+, retired person with some heart disease. I am not an active trader but do trade occasionally just for Fun part of it or rather for excitement it gives to me. I keep a very small capital of Rs 3000 most of the time and some profit here some loss there, I have maintained that opening balance for almost a year. But when I saw two positions on my terminal those are not initiated by me gave me a shock, and both trades were running into losses and the Red figure was increasing every second, I was almost on the verge of a heart attack. In fact, after seeing this my family members literally dragged me away from the terminal.
Somehow, I saved myself from any medical emergency, but I don’t want this to happen again.
admiring you to take up this venture at this age!
always go with good brokers so that you are not inviting any trouble !
brokers/trading members like finvasia / kotak etc paying for the loss occurred to the clients due to the technical glitch !
do the brokers have insurance for this ? or do they pay out of their own pocket as a goodwill gesture ?
and are they legally obliged to pay to the clients as per the SEBI / NSE guidelines ?
Do stock brokers have “fat finger trade” insurance ?
how can retail individual client have such insurance ?
I don’t know of a stock broker who compensated customers for their losses after a tech glitch at their end other than Finvasia.
I know. Kotak Securities.
But I do not know of any broker who had a technical glitch that caused Ghost Trades(fake or otherwise) in their accounts. Do you?
I also do not know of any other broker who did their best to NOT credit the profits accrued ( got by clients by generating real trades on account of squaring of fake ghost trades) due to technical glitch (helped refund losses of clients).
I know few who were not affected by Ghost trades, but who couldnt close their trades, were not refunded until 28th.
And I am surprised. It couldnt have been just 3 crores in all.
Don’t know about ghost trades. But people have lost money because the broker infra failed and clients couldn’t do anything with their open positions / order and lost money because of that including yours truly.
Hmm…but it was up to the ghost trade benefited clients to agree to the proposition for it to materialise. Right ?
pending in queue, if not should raise compliant against the broker if not already done.
I also have an account with Finvasia and just want to let the community members know that fortunately I didn’t face any ghost trades that day. Only that F&O orders were not going through while equity segment worked fine that day in my account. Also I always have hedged positions so was not worried as well. But yes its true that open positions couldn’t be squared off because no orders were going through.
But this episode also shows that they are not a reliable broker.
Their bracket order feature is also not 100% reliable.
Did you get your money back ?
I think it’s fair. Ghost trades were wrong in the very first place (as it was a glitch) so people who lost are refunded and who gained are not credited. Fair deal in my opinion.
This is what happens when exchange alow low open interest to brokers, people move to bad brokers and end up loosing money.
