While 48% of the users were facing issues with Zerodha’s mobile app, 32% and 20% were unable to access the website and make transactions for trade, respectively
Zerodha acknowledged the technical glitch and said that the issue was resolved in a short time
Between 2021 and 2023, the bootstrapped startup faced as many as 15 technical glitches during trading, leading to customer complaints
Online stock trading platform Zerodha
suffered yet another service outage on Friday (June 21), which prevented traders from accessing the platform for several minutes.
According to Downdetector, a service that tracks online outages, Zerodha was struck by an outage just before 10 AM, rendering users unable to place new stock trade orders or modify existing ones.
While 48% of the users were facing issues with Zerodha’s mobile app, 32% and 20% were unable to access the website and make transactions for trade, respectively.
The complaints peaked at around 10:33 AM with about 2,595 reports, with a gradual decline till 10:56 AM. The cause of the outage remains unknown.
The outage caused significant frustration for Zerodha users who depend on the platform for daily trading.
Many users took to social media platforms to express their concerns, with some of them highlighting the repeated outages on the broking platform.
One user said in a post on X that they were so fed up with repeated outages on Zerodha that they have switched to another stock trading platform.
Responding to the post, Zerodha acknowledged the technical glitch and said that the issue was resolved in a short time.
Several other users also complained about the Zerodha app being completely frozen.
Outages on Zerodha’s broking platform have become quite frequent in recent times. Earlier this month, on June 3, Zerodha suffered another technical glitch.
Between 2021 and 2023, the bootstrapped startup faced as many as 15 technical glitches during trading, leading to customer complaints.
Last year, the BSE’s Grievance Redressal Committee (GRC), in an order, asked Zerodha to compensate a trader for losses due to a technical outage. The order said that Zerodha failed to take corrective action despite being alerted by the exchange. However, Zerodha called parts of the order a “blatant mistake”.
Zerodha, which competes with the likes of Groww and Angel One, saw its net profit rise 37% year-on-year to INR 2,908.9 Cr in the financial year 2022-23 (FY23). Operating revenue also grew 37% to INR 6,832.8 Cr during the year.
