Several Zerodha users took to X to highlight their inability to place and modify orders on their open positions. While attempting to place these orders, Multiple users encountered a message stating "Validation Pending," as reported by multiple users who shared screenshots.
In response, Zerodha apologized and asked its users to create a ticket to address their issues. However, it's worth noting that multiple users reported their problems remained unresolved even after a month.
Hi Sid, we're extremely sorry about this. Please create a ticket at https://t.co/6Bd9lkTl0a and someone from our team will reach out to you.— Zerodha (@zerodhaonline) January 29, 2024
What caused the issue?
As the platform faced a barrage of complaints, Zerodha responded by stating that a connectivity issue intermittently affected some of its users' ability to place orders on Kite. However, the company later resolved the issue.
Due to a connectivity issue, some of our users were intermittently facing issues with order placement on Kite. This issue is now resolved. We regret the inconvenience caused.— Zerodha (@zerodhaonline) January 29, 2024
The technical glitch with Zerodha is nothing new. In 2023, The Kamath brothers-led company 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.
Following the rising complaints and disappointments from its users, CEO Nithin Kamath said it is impossible for technology companies to have zero glitches as the business is time-sensitive and caters to a large number of users.
Kamath said that the company has made several architectural changes to minimize the impact of potential issues.
Frustrated users demand compensation
who’s is responsible for the losses?— Anu Saini (@Sainianu22) January 29, 2024
will @zerodhaonline pay??
#Zerodha you try to suppress the gravity of the matter but it is not the way I feel needs to be handled.— Anirban (@Anirbban) January 29, 2024
Why don't you come with a public statement with a Resolution (Standard & equal) for everyone.
You can let the trader fraternity know what evidence they need to put & what… https://t.co/5qr5Kpg753 pic.twitter.com/nYn0KGpeoK
While many users complained and demanded compensation for their losses, a group expressed their anger and frustration through memes.