Zerodha is not working for some users, which is evident from their tweets. In this article, we will look into the various issues users are experiencing with Zerodha. Most importantly, we will share a few ways to fix these issues.
Zerodha has emerged as one of the most reliable trading platforms in India. However, the trading platform's performance in 2023 has been shocking, with eight glitches confirmed by Zerodha on its official website. On top of that, users are experiencing issues almost every day, even after Zerodha claimed to have resolved the last glitch.
Zerodha Not Working: The different issues and solutions
Unable to log in to the Kite App
During the last known Zerodha glitch, 04 Dec 2023, users couldn't log into the Kite app. However, as Zerodha stated on their official website, the issue was caused due to an update to their IP database, and it only impacted the users using the Kite web version. According to Zerodha, the issue did not impact the Kite mobile users.
One way to avoid this issue is using the Kite mobile app. If you wonder how it is better than the web app, you must log into your Kite app only once. After that, you must enable the biometric login option. Once you do this, you can access the app through your device pattern or pin. Most importantly, it's faster and more convenient.
If you face the issue even on your Kite mobile app, there must be something seriously wrong on Zerodha's end. There's nothing much you can do except stop until the issue is resolved on Zerodha's end. However, at times like these, it's wise to refrain from trading since it's evident from the issue that something is unstable in the trading platform. Trading in such a situation, you have a high chance of losing your hard-earned money.
Stop Loss order skipped
One underrated issue on Zerodha is the Stop Loss order getting skipped, and it can give you heavy losses if you don't know how to handle it. Many users have reported this issue, which means even if you place a stop loss order for your position, you must be cautious and prepared in advance to handle the worst-case scenario of the stop loss being skipped.
If you aren't mentally prepared in advance, you may not have any idea of what to do when the issue occurs. After all, trading depends a lot on your psychology and mindset. If ever you encounter this issue, the best you can do is take action immediately and exit the position no matter how much loss you are at. In this situation, waiting for the losses to reduce can give you more losses.
Orders and positions not displayed
Nothing is more frustrating than entering a trade and being unable to view the position and orders. Many Zerodha users have experienced this issue on Zerodha, and some of them lost a good amount of money because of this issue. Now, the question is if there is anything we can do about it.
There is nothing you can do to fix the issue, and the only option left for you is to raise a ticket with Zerodha customer support as quickly as possible. You should get back the money you lost due to this glitch once you raise a ticket with Zerodha customer support in time.
Delay in order execution
Delayed order execution can turn your winning trades into losing trades since it will badly impact your stop-loss placement. Once you realize there is a delay in executing your order, the next best thing you can do is try to exit at cost. Besides, you need to mentally accept the fact that your stop loss can get hit. It will prevent you from overtrading.
Once you are out of the trade, you must ensure you don't enter any further positions with Zerodha on such a day since the platform is laggy and your trading mindset is already hampered. However, you must raise a ticket about the issue with Zerodha customer support and try to get back the money you lost due to the glitch.
Unable to place orders and square off positions
Zerodha had this glitch on four different days last year, impacting many users. While some couldn't even enter a position, others did manage to enter positions but couldn't square off their positions. Those who didn't get to enter a position were lucky. However, many who managed to enter a position lost a good amount of money during these glitches since they couldn't get out of their positions even after several attempts. The worst part is that some users couldn't even place a stop-loss order for their positions, which eventually caused them big losses.
If you ever encounter such a glitch again, there are a few wise ways to go about it. First, if you realize something is wrong with order placement, you must not push hard and stop trying further. Besides, you can browse through the tweets of other Zerodha users to see if others are facing the same issue, too.
If you entered a trade and cannot put a stop loss order or square off your position, you must contact Zerodha customer support immediately. Raising a ticket would be a better option than calling up the customer support number.
Zerodha Not Working: Trade on an alternative trading platform
If ever Zerodha is not working for you and you manage to avoid getting caught up in a position during the glitch, you can still trade on an alternative trading platform for that day. That's why it's always wise to be registered on multiple trading platforms. However, you must also have funds on that platform to trade.
Besides, it's essential to ensure that the trading platforms you are registered with are reliable enough. Some of the reliable trading platforms are Angel One, Upstox, and Fyers. While Fyers still had a glitch recently, Angel One and Upstox have had no major technical issues.
With eight significant glitches in 2023 and ongoing issues on Zerodha, its reliability is a big question. Even though Zerodha would undoubtedly work on eliminating all problems, users need to be constantly cautious while trading on Zerodha. Whenever you feel there is something wrong with Zerodha, you must always cross-check with other users' tweets for the day. At the same time, you must refrain from trading on Zerodha when you realize something is wrong with the trading platform.
If you ever get caught up in a glitch with any open position, you must immediately raise a ticket and communicate the matter with Zerodha customer support. Most importantly, you can register with multiple brokers, and on a day when one is not working, you can trade on the other platform.