After all of this management is replying like this: Dear Traders,
Over the last 10 days multiple leased line and data centre faults have affected us.We have clients distributed across multiple leased lines connecting to the exchanges from our data center. Each line has one line as well. After almost 1 year of no issues, we have had issues crop up in rapid succession.
1. Tuesday, 3rd May at 3.20 pm, one of the lines along with the failed. It was too near to the closing of the market, hence we couldn''t switch clients from this line to another.
2. Wednesday, 4th May at around 10.20 am, again the same lines with the failed. Since the exchange technology in India doesn''t support active failover, took us over 20 minutes to move clients manually from one to another. Orders placed before this incident wouldn''t get a status update since the clients were moved to a separate line. Hence the orders placed earlier couldn''t be cancelled and status was shown pending until around 2 pm, when we could connect the old lines and reconcile.
3. Monday, 9th May at around 9.20 am. Our team worked right through the weekend to ensure the best is done so that we are ready if the leased lines were to fail again. We flew some of the team to Mumbai and worked with two different data centres and ISPs. We were also super excited about releasing the new Kite web app on Monday into which a lot of love and hard work has been put in.
You can call it extreme misfortune that our second data center in Mumbai, where Kite servers are located, developed issues with internet connectivity (although we have multiple ISPs peered to it). So connectivity was on and off for almost an hour, probably also causing an impression that it was due to the new launch. All the other platforms were working perfectly fine.
In times when there are issues, our support team is subjected to exponential increase in work and pressure, hence slower response time. I acknowledge that we can do better to proactively inform you with regular updates in such times. We will do the same from now on https://zerodha.com/marketintel/Bulletin/
I am sorry for the inconvenience and heartache this has brought. It''s extremely unfortunate that it was completely out of our control, despite all the failsafes we have in place to avoid scenarios such as these, as is the case. I want to assure all of you that, we have been doing everything possible to ensure that you have the best experience, and we will continue to do so.
Thank you for your continued support.
13.1. Sandeep May 13, 2016 11:46:17 PM IST
This is real time problem i have faced - There Kite platform was showing order placed successfully , but it reality nothing was happening . My order was not placed. Shame on Zerodha service.
Does zerodha provide pledging against stocks for trading in intraday and future?
10.1. Vijay May 4, 2016 8:10:28 AM IST
Yes,Zerodha provide Margin Against Shares(MAS), There is specific haircut for securities, so you will get collateral margin after haircut. Client need to have 50% cash before using the collateral amount, cash to collateral ratio is 50:50, in case of negative margin, Zerodha allow to do the trade but charge interest on negative amount with 0.05% per day. Zerodha charge Rs 60 for pledge and un-pledge.
Your Money with zerodha paid as margin is completely safe.Thakns to SEBI and stock exchange to making strict rules.Generaly brokers collect more margin at the time of volatile events like budget, internation trandes and so on, so Zerodha is pretty safe.
Zerodha is only depository participant, so they dont hold your share when its come to equity delivey,they are with either NSDL or CDSL.In Cash market purchase, money stays with Zerodha only for T +2 days and after that shares come in depositor.
so in summary your money is completely safe with Zerodha.
9.2. siba prasad Dash Apr 8, 2016 6:07:04 PM IST
Of course. Yes, you have to give POA, but they are professional and their CEO, Nitinji is an inspiring figure. I am with zerodha for the last three years. So much proud to be with zerodha, bcz their client service is one of the best. The main thing is they are generally truthful about their activities. Siba prasad Dash DS1705
Zerodha Claims that Zerodha is the first brokerage in India to allow Bracket Orders & Trailing Stoploss on F&O. is that True?
8.1. siba prasad dash Apr 8, 2016 5:59:21 PM IST
7. Ranjit S Sahoo Mar 31, 2016 6:52:52 PM IST
On March 31,2016, Zerodha 60 day challenge promotion expired,I checked Zerodha Website, they removed the link from there home page. The page "https://zerodha.com/60-day-challenge" working but they removed refund brokerage and add "The challenge is open for all Zerodha clients forever!".If you have a profitable track record of at least 3 months at Zerodha, you have a chance to be featured on OpenTrade.in as a star. Brokerage reversal will be max up to 6000 rs. Is that True?
I have some basic questions regarding MIS & CO type orders for Equities.
Suppose, ABC share is pricing at 20.40. I have Rs. 200 on my account. I want to buy its share with MIS type, I will be able to buy, 150 shares of it with such account balance. Its got leveraged. But Suppose my SL at 19.50 & market hit my SL then how much loss I will get on my account?
Is it, 20.40-19.50 = .90*150 = Rs. 135.0 or more?
With following Zerodha calculator https://zerodha.com/margin-calculator/BracketCover/
It shows Margin requirement of Rs. 168. Then will I lose whole margin or Rs. 135.00?
Also if it moved in my favour at 22.00. Then what will be my profit count?
I have recently joined Zerodha after submitting my information with topsharebrokers.com. I got call from zerodha in 24 hrs after submittng my request. After the first contact the joining procedure was easy. Just signed few forms and then they did rest for me. In next couple of days they had me signed up and provided me with my user ID and password.There trading platform Kite and PI are very user friendly. So I would say till now the experience is pleasant. Hope for better future with many more services with Zerodha.Happy trading.
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