Zerodha User pain points

@nithin, I am trading in Zerodha from 2010, i am a great fan of Zerodha and I recommended to many of my friends :grinning:

I have account with other brokers for some reasons. If you resolve all the user pain points, it will help people like me to stick to one account Zerodha.

I hope this helps you to serve customers in better way.

  1. Centralized common account for Equity and commodity - to trade in other account i have to withdraw from one account and add in to other, this complete process is taking 3 days. (T+1, processing time 24hr, +1 more day if i place request for higher than available funds). One of my broker is transferring the funds internally and automatically. If it is possible for others it is technically possible for Zerodha also, i guess.

  2. Fund withdraw process - The available funds showing in kite is different from console. Even after deducting T+1 settlement money, i guess margin calculation is different during market hours and after market, due to this most of the time fund withdraw request is rejected and we have to wait for one more day, because you will process request once in a day. One of my broker will process withdraw amount for least of available funds and requested amount.
    if i requested for 1 lakh and available funds are 90K, they credit 90K in my account.
    And you can process fund withdrawal multiple times in a day and 24/7, now NEFT is 24/7

  3. WatchList - Today when i am adding to USDINR 75 PE May 8th, it’s not showing in search.
    Providing Option Chain for NIFTY/BankNifty/USDINR will help a lot , no need to add any strikes. Adding weekly strikes is a painful process. Allow more than 5 watchlists, for option traders it’s not sufficient

  4. Not allowing OTM strikes, I know the issue Zerodha is facing, if it is already exhausted, why still opening new accounts, it will narrow down the strikes further. Some how you need to resolve this issue. Just for this reason I opened one account with other broker.

  5. NCDEX - I don’t know what is stopping to open NCDEX account after one decade of Zerodha, i am a seasonal trader on NCDEX.

  6. Auto square off positions - in case of margin shortage, if you provide the call to client, it will help to take decisions. The major problem with RMS team is, in case of hedge positions, if they wrong position, it will further increase the margin shortage. And it is more problematic once exchanges started with new margin frameworks.

  7. Technical glitches - There are known events from zerodha, but there are unknown issues…,
    a. Some time we need to kill the app and reopen otherwise feeds are not coming.
    b. On opening bell, placing orders are going to pending validation.
    c. Funds balance is not refreshing some times.

Hope this finds you exploring new opportunities and you resolve those(at least few) in near feature


1 Like

In our list of things to do but it involves big changes to our current OMS(backend), this involves regulatory approvals/ building/testing and deploying, changing many our processes etc so will take more time, no ETA.

We have plans doing this, also NEFT24/7 is only at c2c not at corporate level yet. Our bank is HDFC.But yeah, we have plans to do instant withdrawal also up to some limit.

Option chain is already available.

Not sure how one can track more than 250 scrips at a time.

We found a way to handle this, soon will announce. Also once SEBI new margin framework comes into effect, we believe market OI will increase a lot hence our limits also. This implementation is postponed due to current situation.

We used to have NCDEX membership but hardly we got any requests from clients so surrendered it. Our clients trade in mcx also as a business we have to take a decision as having another exchange comes with additional compliance, process, resources etc seems not viable considering the prospective clients base trading on NCDEX,additional to that agri commodities comes with huge risk. Anyhow we don’t have any plan to offer NCDEX in foreseeable future.

We have 2 million clients, lakhs of positions on any day and you think it is really possible to arrange call to every client before closing positions? I know few traditional brokerages houses may do that, they charge much more, give tips, make clients trade etc but with us everything is online, we also send margin message to alert client when there is shortfall.
On personal note I strongly believe it is responsibility of the trader to take care of their positions, monitor them and act before RMS do.

Not noticed this, if you are facing you can create ticket here and let me know the ticket number.

Yes, it is happening currently for few seconds due to huge rush of orders at opening. Hopefully we will be addressing this soon.

Don’t think this is a issue, refresh should work.

Anyhow appreciate your feedback. Few things you pointed out are in our list of things to do and we are working on them, likely we will be address them soon.

1 Like

@siva, @nithin
Nifty contracts allowed for trading: Current Week- 9550 TO 10100 CE & PE
But 9600 put buy is not allowing, please provide proper info at margin calculator.
It’s irritating , After new frame work, it is like hell, please handle this ASAP

Ranges are dynamic and they change based on LTP, soon on kite itself while placing order we will show strike ranges.

Issue is, will is allow in near feature for buying all strikes?? or else soon i will change to other broker. Be honest