totally agree.
Tech glitches should be refunded. If other brokers are refunding, then that standards has to be accepted as norm for all. Only then customers will get a uniform experience.
Sooner or later, customers will prefer to hang around with brokers who refund – because in a country like India – power cut & internet cut are quite common.
5 to 6 years back even 2mbps was a luxury, now you get 300mbps at the same cost – even then uncertainty is still there.
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If not fully – atleast to the extent possible.
@nithin keeps saying only a minuscule # of traders are impacted and that too rarely. In that case imo he should refund using the lifetime brokerage paid by the affected parties…
Increasingly we see brokers taking responsibility these days – hope Zerodha can find it within themselves to do the same.
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It’s good if they (exchange or broker) can insure a percentage of amount after looking into issues, like from which side tech glitch has happened. From exchange or from the brokers side.
I just got a call from their support team, they are not even agreeing for my fair demand of 50% loss refund and 1 month free brokerage
For the capital i trade my per month total orders don’t even cross 300. still they dont accept this
What are they offering/resolution given?
I’ll be happy as long as they acknowledge that reparations are to be paid.
The same time around last year, there was a big fiasco in terms of mutual fund investment through Coin. Even then, they said that they’re not liable and that they’re ‘sorry’.
What was the fiasco ? Kindly shed some light .
File a complaint through SEBI’s SCORES Portal.
There was a regulatory change where in trading account funds could not be pooled with mutual fund investments. For mutual fund investments, you had to make payments directly from your bank to BSE Star MF. Lot of people had their money stuck for days and many including me, got delayed NAV allotment.
You could see this thread somewhere from Post #250 for more information – Discontinuation of pooling for mutual funds and how it affects Coin – Zerodha / Coin – Direct MF – Trading Q&A by Zerodha – All your queries on trading and markets answered (tradingqna.com)
2 weeks free brokerage. What will I do with that
Total Loss made due to their glitch is 14k
Wish they have some heart while addressing issues of clients
I have paid more than 2 lakh in brokerage using my 4 accounts
I didnt accept it, i have filed complaint in sebi, I didnt want to actually, but this is forced on me now
It’s fault of BSE.
Last time NSE was shut for half a day. Who will u go and ask for refund.
In USA, order are matched at broker itself or sent to large brokers than exchanges.
No its not the fault of BSE this time. Some people were able to punch orders even after it rejected for others
Basics… brokers have multiple leased lines from there server to BSE.
One of line connection and even back up line connection was lost.
This is what happens when non technical like u try to explain.
If one line snaps…then all the clients in that line order status will not be sent. Order sent in one line can’t be retrieved in another line. As all other lines were active, it didn’t effect others.
This is not USA where u can use any connection lines to send orders. here bse controls the server connection lines through there internet companies. Zerodha must use one of bse authorised companies.
Try your best to get refund…as it’s bse fault go to them…but an CS student, no system is 100%. Even Facebook for down recent. Only way is to ask bse and nse to give more lines. Enable multiple server usage.
Bold of you to assume things, Im a CS graduate myself
I just didnt know that zerodha cant switch lines if both normal and backup also goes down
I was not talking about order status, If there was a way to connect the rest of the people to another line then those people wouldnt have faced the adapter issue while placing a fresh order