Following the recent technical glitches on Zerodha's Kite platform, Dozens of users have started a new trend, #BoycottZerodha, on X (formerly Twitter), to express their anger and frustration.
This comes after Zerodha faced a technical glitch on the morning of January 29 that prevented users from placing and modifying orders on their open positions. Many users reported encountering a "Validation Pending" message while attempting to place these orders.
In response, Zerodha said that a connectivity issue intermittently affected some of its users' ability to place orders on Kite. However, the company later resolved the issue.
The technical glitches with Zerodha's online trading platform 'Kite' are nothing new. In 2023, Zerodha admitted to at least 8 technical glitches with issues varying from those relating to logging in on the Kite app, display of orders and positions, as well as order placements.
What does Zerodha say about rising tech glitches?
Following the rising users' complaints and dissatisfaction, Co-founder & CEO Nithin Kamath said that it is impossible for technology companies to guarantee zero glitches, given the time-sensitive nature of the business and the large number of users it serves.
He also said that the company has made several architectural changes to minimize the impact of potential issues.
Several users pointed out that Zerodha's lack of attention could lead to its failure and make it unreliable for investors and day traders.
"I found a technical glitch earlier with Zerodha coin app, portfolio value was much smaller than actual, calling service did not help. It got rectified later, their systems are ‘iffy’ #BoycottZerodha," a user wrote.
I found a technical glitch earlier with Zerodha coin app, portfolio value was much smaller than actual, calling service did not help. It got rectified later, their systems are ‘iffy’ #BoycottZerodha— Vasant Prabhu (@vasanprb) February 2, 2024
Your advocacy for verified P&L and raised concerns about Zerodha not following proper procedures and mistreating customers and you were right both times. Keep up the good work.#BoycottZerodha— Karan J. (@kaje49) February 2, 2024
Really #BoycottZerodha— chirag baraiya (@chiragbaraiya5) February 2, 2024
Among these comments, a user named Vikas Kumar compared Zerodha with Nokia's rise and fall. "Congratulations @Nithin0dha You made it, remember #Nokia the rise and fall," a user wrote in a post on X.