Zerodha and IIFL Experience Outages: Orders Frozen and Derivative Issues Arise

On June 21, Zerodha’s broking platform encountered another technical glitch, causing significant disruption for traders. During this period, the platform was completely frozen, affecting traders’ ability to execute orders. Notably, stocks like India Cement, which were no longer under the F&O ban, erroneously appeared as restricted, further complicating trading activities.

However, the issues seem to have been resolved swiftly as the platform resumed normal operations after the brief outage. This incident underscores the challenges faced by online trading platforms in maintaining seamless service amidst high market volatility and regulatory changes. Traders are advised to remain vigilant and monitor updates from Zerodha to navigate such technical disruptions effectively.

Zerodha Faces Glitch Amid Record High Indices Post Exit Polls

Just 15 days ago, on Monday, June 3, Zerodha encountered another technical glitch. This incident coincided with domestic benchmark indices reaching record highs following exit polls released on Saturday, June 1, indicating a likely third term for PM Modi’s government in the Lok Sabha elections.

The glitch disrupted trading activities on Zerodha’s platform during a critical market period marked by heightened investor activity and significant market movements. Such incidents highlight the vulnerability of online trading platforms to technical issues during times of increased market volatility and event-driven trading.

Users Vent Frustrations on Social Media Over Zerodha Glitch

Vivek Khatri’s Tweet:

“Zerodha Hang!!! We have already switched to another platform. Too many problems in #Zerodha. #ZerodhaCrash”

Zerodha’s Response:

“@zerodhaonline · Jun 21

Hi Vivek, we’re sorry for the inconvenience. The prices are updating fine now, please check.”

Balbhadra Singh’s Tweet:

“#Zerodha freeze!! Who will take responsibility for my loss due to Zerodha being frozen? #zerodha”

IIFL Brokerage Accounts Experience Freeze Due to Margin Limits

During the recent trading period, IIFL brokerage accounts encountered a freeze due to large order placements exceeding margin limits. This situation prevented derivatives position placements, causing significant disruption for traders relying on IIFL’s platform.

The incident underscores the challenges faced by brokerage firms in managing risk and maintaining operational stability during periods of high market activity. Traders impacted by the freeze were likely hindered in their ability to execute trades effectively, highlighting the importance of robust risk management strategies in brokerage operations.

Users Express Concerns on Social Media Platforms

Aditya Singhania’s Tweet:

“A day I did not prepare for! Zerodha and IIFL both messed up at the same time today. Ab 3-4 backup brokers rakne padenge”

Jaynesh Kasliwal’s Tweet:

“IIFL Down. Algotest Down. Zerodha Down. All 3 together!”