I've avoided the company since. Maybe the tech is great, maybe not, but led by someone who can stoop to cheating when the stakes are so low? No, they cannot be trusted with financial data.
From the article: He was scholar's mated a few days earlier, then played with 99% accuracy. What a little man with such a frail ego afraid to look "weak" against one of the best chess players in the world.
I've noticed that every other broker stoops really low. 5Paisa, Dhan, ICICI, etc. I have opened accounts in all of them for friends and family as per their requirements. Zerodha is definitely the most trustworthy, but lacks even in basic features.
India's online trading environment was crazy far behind in the 2000s/early 2010s, and Zerodha grew quickly because of first mover advantage. While stuff they bragged about when the post was written (small team, simple architecture, no product/finance experts) may have initially helped, today they have a terrible reputation for having a buggy app, lack of basic features and no customer support. Other startups like Groww and established banks have now caught up and some of them have surpassed Zerodha in terms of users and trading volume.
I'm actually familiar with Zerodha, as I had read their developer blog about their Flutter mobile app, but no idea why an article back from 2020 is getting traction.
#zerodha trends frequently on twitter in india for wrong reasons lately.
1.prices lagging compared to other brokers..on live charts
2.orders not showing up on orders page..panicking option sellers whether their order is executed or not.
3.not accountable for late execution of orders causing huge losses.
These are some serious remarks from an account that was just created.
IANAL, but at least one of these sounds like a thing you / the other people should bring up with the regulator. Would the proper route be to open a complaint case with SEBI instead?
Last month few of my shares disappeared, stock splits gone wrong, disputes appearing for stocks I don't own. The platform was probably the best in India, but it now crumbling.
Groww and upstox are total crap as well.
But who cares, majority of the country operates with portfolio sizes of USD 100.
Larger accounts are better off with traditional brokers who offer personal relationships than some app made by a great tech team.
They keep boasting about having a lean tech team, but it is one of the worst things they do.
If you just look at their forum, the average time to complete a feature release is 4.5 years (Eg: SWP, STP (still not released), XIRR in their platforms, Instant withdrawal)
I signed for their products solely after being impressed by their tech blogs and Nadh's writing. After joining, I reported 4 bugs within a week. Their customer support is terrible (replies fast, have to give them that). They keep gaslighting me into believing problems I report don't exist, and then keep closing tickets. They take a week to reply for some tickets, but then close it if you don't reply in a day. Such policies show they are interested in just the metric of tickets "resolved". So I too gave up reporting them. I guess I created too many tickets, and was really annoying them.
I really wanted to enjoy using their products, but am stuck in their sub-par "ecosystem" now due to high costs of moving out (DP charges will be huge due to such a large quantity of unique shares, them holding MFs only in demat meaning I can't switch easily).
Yes even I faced same problem. I wanted to add second bank account but couldn't add due to some technical issue. I raised a ticket with a GIF recording and it was just closed as not reproducible.
Yes exactly!! I made so much effort in recording it, and then they gaslighted me into believing it's a browser issue. Same copy paste reply about clearing cache.
I went so far as to show them network logs from the browser dev tools to show that the delay/bug was on their end.
This is after I explicitly mentioned testing it in Chrome, Firefox, Android, and also my friend's account to rule out any browser/account bug
If you close the demat account with Zerodha, you can instruct them to transfer all the stocks to another demat account (open it first with another company). This will be free of cost - I have done it.
> Hybrid infra. Physical racks where numerous exchange leased lines terminate + AWS. Sometimes, these leased lines go down when the civic body in Mumbai digs up roads.
He is a director and a "key managerial person". I have heard in a podcast that he is the CFO or CIO (not sure what a broker has a CIO for, so might be wrong)
Thanks for highlighting that! I think in the new economic cycle we should judge companies in a holistic manner, including the CEO’s personality and character because such things often affect how they provide value or screw over customers.
Despite all the criticism, there are plenty of good takeaways and a 30-member tech team for the scale of the operations, and the size of the organization is impressive.
I don't think one needed to "game" the system to get this post to the front page.
Even if you don't care about Indian stock market (I certainly don't), it's a description of a tech stack and principles of a huge company. And those are nice principles... "Tech stacks should follow “right tool for the right job”"? "Don’t be afraid to self-host"? I can get behind this. I can also share this post around to my friends, to show that one does not have all those annoying corporate rules to create a huge and successful company.
Compared to that, someone's personal blog with bland programming notes is pretty underwhelming. I would not upvote those, and I certainly would not share them with other people.
The founder, Nikhil Kamath cheated in a charity chess match vs Indian chess legend Viswanathan Anand. ref: https://hollywoodmash.com/how-chess-world-reacted-to-nikhil-... .
I've avoided the company since. Maybe the tech is great, maybe not, but led by someone who can stoop to cheating when the stakes are so low? No, they cannot be trusted with financial data.