Unethical practices by Zerodha - Hunting CO/BO SL

These past few months I have been executing BO/CO orders primarily with the intent of observing the alleged fraudulent behavior of Zerodha suddenly exiting your CO/BO orders under the guise of executing your SL.

Unfortunately I am now convinced that Zerodha is indeed indulging in such behavior. I have data of at-least 27 trades where a SL was claimed to be hit but looking at price action NSE never showed such a price having reached ever. In addition Zerodha sells your order data, your contact details and anything that is worth selling. I registered a fresh new mobile number for this gunnea pig account and I had not shared the number with anyone. Within a month of starting my zerodha account I started getting calls from weird numbers from Gujarath, Indore, Gurgaon.

I urge all retail and small clients to quit zerodha and go with a better reputed broker else Nithin will sell your shirt to anyone who wants to buy it.

You have been warned by someone who has expressly spent few months figuring out this fraud. I hope there is a way to report this to SEBI and I am in the process of now exploring that.

Don’t make any false allegations based on your personal experience and create panic here… . Any allegations should be supported with strong proof and if u have that, report it with SEBI…

Seems u drafted it for Karvy and posted in Zerodha group

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what if you are upstox employee ?

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Don’t you think it would help your case if you have posted some proof?

For everyone who does not believe what I have written is welcome to try CO/BO or even any SL for a reasonable time and experience this. This is not a hate post and nor am I affiliated with anyone.

@Manish_Goel2

All i m saying is if you posted the proof, it would force Zerodha to respond to your allegations and the truth would come out.

Asking others to test it if Z is hunting your CO/BO is not the way to go.

Hey Manish, I have no idea what agenda you have.

Nithin has given a detailed explanation as to why this happens here. I suggest you make yourself aware of how the Exchange trading/order matching systems work before deciding to blame/accuse someone of any wrongdoing.

Do you know how many entities your information has to be shared with as part of regulations? When you choose to open an account with any broker, the broker is required to share details of your mobile & email to the Exchange, Depositories, KYC agencies. The Exchange uses this information to send you SMS on days you have traded and alerts when brokers upload your fund balances. The Depositories use this to send SMS whenever there’s a debit transaction on your demat account. The KYC agencies use this to send you updates whenever an entity fetches your PAN and does your KYC. All these are points from where your data can leak. We’ve even started a campaign to curb this menace and you can partake by reporting the numbers from where you are getting these unsolicited calls/messages. All our clients are aware that we attach the highest degree of concern to their personal information and under no circumstances would compromise on our integrity.

Closing this topic since this is just sensationalism created with some ulterior motive.

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