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Zerodha Consumer Complaints

Zerodha Detail

Zerodha is a Bangalore, India based Flat Fee Share Broker (Also known as Budget Broker / Discount Broker / Pay Per Order Brokerage) for trading in Stock, Commodity and Currency Derivative. It charges brokerage of 0.01% or Rs 20 per executed order, whichever is lower, irrespective to number of shares or their prices (Except equity delivery trades which is free). With Zerodha, maximum brokerage you pay for any transaction is Rs 20 for an order (of any size and in any segment). Zerodha doesn't have... Know more about Zerodha

Complaint against Zerodha Broker

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Zerodha brokerage complaints report provide detail about the number of complaints received by the stock exchanges from the Zerodha customers. The Zerodha consumer complaints report analyzes the Zerodha online complaint data provided by BSE and NSE. This report shows the health of the broker.

These complaints are serious grievances against Zerodha broker which the broker and customer failed to resolve. The customer then filed these legal complaints with the stock exchange.

The Zerodha complaint no. report also provides Zerodha’s number of active clients. This shows the growth of the broker year on year.

Zerodha Consumer Complaints

Exchange Financial Year Number of Clients   Know more Total Complaints  Know more
BSE 2018-19 234,716 24
NSE 2018-19 847,016 230
BSE 2017-18 259,642 28
NSE 2017-18 540,905 339
BSE 2016-17 30,690 10
NSE 2016-17 165,586 99
BSE 2015-16 5,377 3
NSE 2015-16 61,970 25
NSE 2014-15 30,379 17
NSE 2013-14 17,523 8
NSE 2012-13 7,996 7
NSE 2011-12 1,163 4

Zerodha complaint at NSE

2018-192017-182016-17
Defaulter Yes/NoNoNoNo
No. of clients at the beginning of the year
No. of active clients847016540905165586
No. of complaints received *23033999
Resolved through the exchange22929299
Non actionable **000
Advised / Opted for arbitration000
Pending for redressal with exchange110
No. of arbitration filed by clients040
Decided by arbitrators in favour of the clients030
Decided by the arbitrators020
Pending for redressal with arbitrators010
% of No. of complaints as against No. of active clients0.050.05
% of complaints resolved as against complaints received10099.65100

Zerodha complaint at BSE

2018-192017-182016-17
Defaulter Yes/NoNoNoNo
No. of clients at the beginning of the year74144421976571847
No. of active clients23471625964230690
No. of complaints received *242810
Resolved through the exchange222610
Non actionable **000
Advised / Opted for arbitration000
Pending for redressal with exchange220
No. of arbitration filed by clients000
Decided by arbitrators in favour of the clients000
Decided by the arbitrators000
Pending for redressal with arbitrators000
% of No. of complaints as against No. of active clients0.010.010.03
% of complaints resolved as against complaints received91.6792.86100

Note:

  • * Including against its sub brokers, authorised persons, employees, etc.
  • ** Non actionable means the complaint that are incomplete / outside the scope of the Stock Exchange

Zerodha Online Complaint Forum

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54. ARVIND MAGARDE  Jan 7, 2019 20:27 Reply
????? ?? ?? ???? ???? kite ?? ?? ??? ?? ???? ?? ???? ???? 32000 ???? ?? ??? ??? ?? ?? ?????? ???? ?? ??? ?? ????????? ?? ????? ???? ?? ???? ???? ??? ???? ???? ??? ?????? ???? ???????? ???????? ?? ???? ?? ???? ????? ??? ??? ?? ???? ??? ?? ???? ?????? ?? ?????? ??? ???? ?? ?? ???? ???? ??????? sebi ?? ?????? ????? ?? ????? ?????? ???? ?? ???? kite app ??? ??? ?? ??? ?? ???? ???? ?????? ???? ??? ???? ?? ??? ?? ??? ?? ?? ???? ?????? ?? ?? msg ???? ?? ?? ???????? ???????? ?? ???? ???? ???? ?????? ?? ???? ?? ??? ??? ?? ???? ??? ??? ?? ?? sebi ?? ?????? ????? ?? ???? ?? ??? ?? ????????? ?? ??? ????? ???? ???? ?? ??? ?? ???? ?????? ???? ?? ?? ?? ?? 9/1/2019 ?? ???? ?????? ?????? ?? ?????? ??? ???? ??? ?? ?? ????? ?????
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53. Chandrak Baxi  Jan 7, 2019 09:18 Reply
One of the worst trading platform is zerodha. every now and then stops working. SHAMELESS management just posts sorry message.
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52. Praveen Verma  Jan 7, 2019 08:52 Reply
zerodha does not work many times during the trading hours. it should be made responsible for losses incurred due to this.
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51. Abhishek  Dec 25, 2018 10:48 Reply
Zerodha's support has gone from bad to worse. Tickets are just auto-responded with no time line for a resolution. Most of the times multiple follow-ups are needed to get a simple thing done. At times resolution is provided and then they pretend as if the problem did not exist at all.
The issues that were unsatisfactorily handled by zerodha include:
- Lack of transparency and delay/denial in payout of Opentrade, referral and 60 day challenge;
- Rejection of withdrawal request despite adequate free balance unless follow-up made (their response they don't know how rejection message was sent);
- Problems in contract notes (in early days); their response that they did not send the erroneous contract note;
- Zerodha's initial policy on compulsory early square-off in FNO contracts of stocks that SEBI mandated to be physically settled (high handedness and an action just opposite to what the regulator dictated);
- Arbitrary restrictions of NSE launched option strikes and contract maturities that can be traded;
- Delay in crediting the trading account with proceeds of MF redemption and misrepresentation that proceeds were received from AMC after the trading hours; when issue was raised to BSE they came back offering apology with a request to withdraw the complaint.

The above list is not exhaustive but only an indication that everything is not as rosy as is being projected.
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50. Whatever  Dec 13, 2018 16:08 Reply
No. 1 shitty trading broker and worst app. Its been more than six months I had been using this app. Whenever I place a limit order it gets executed on the market price instead. Fraud no.1
PRASAD BHAVANA is the first example to all . Because of these fraud people he lost all his money of about 40 lakhs last year.
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49. rana  Oct 24, 2018 19:30 Reply
Zerodha a worst brokerage house have no intention to resolve the investor issue.. when you place a request of payout it will take a week time to get the money back to your account, their profit calculation is malfunctioning...i Placed a payout request on 20th October status of the payout states amount processed by they are a liar it never never credit to bank account.. incur heavy loss due to their pathetic service.. completely avoid zerodha
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48. varsha  Oct 23, 2018 17:11 Reply
There is regular discrepancy in fund balance in zerodha kite and console (backoffice). The customer care executive are not competent and able to explain the reason for the variations in the balance. Only either of the two standard statement will be provided

a) we need to wait till 8 pm to get the balance updated. Though no trade have been taken today, they don't even understand that the fund should remain the same and there is nothing to update.

b) There is technical glitch and the backend team is working and will be rectified shortly.

This has been my experience many times in last few months. I believe it is very hard for client to know their balance and i seriously doubt that fund is reflecting lesser and lesser amount gradually over a period. I have written several times to zerodha support and still waiting for any satisfactory explanation.

I am posting on this platform so that other customers are aware and can post if they have similar complaints.

Thanks

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47. Sachin Kumar singh  Oct 3, 2018 09:41 Reply
Account opening charges has been detected from my account. after that there is no action taken by anybody knows contacted by customer care or others requesting for grievance officer email address which is not working. Requesting for the grievance officer retail or Nodal Officer or compliance officer regarding above
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46. krishnamurthy GN  Sep 21, 2018 15:36 Reply
Number one 420, Chuty,s Company, because too good time this people blocked Pay in * gate way*, in that time if gate way was open we get it 1: 20 times profit....
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45. DEVENDRA Thota  Sep 16, 2018 21:12 Reply
Very poor service from back-end team zerodha. Online account opened on 25 aug and payment done documents sent to headoffice till date demat account not activated all trade transactions are getting rejected. When called to zerodha they say to raise tickets accordingly queries will be resolved. But till date nothing has solved from back-end zerodha team self closes the ticket with resolving the issue. This is service of discount broker. Request all to think twice before approaching discount brokers. It's better to approach a charged broker to ensure all paper work and technical flow is ensured smoothly on time.
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44. Karthee Sangamesh  Sep 16, 2018 00:40 Reply
I have raised a ticket of trading. On Friday it showed me profit, I took a screen shot on mobile. I took a screen shot on Saturday on mobile the figures are changed and showing it loss. Now again on Sunday I took another screen shot of positions. It's showing again loss whine should we approach plz guide me
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43. Sachin Goyal  Sep 7, 2018 12:56 Reply
I want to inform you, when I opened Demat Account in Zerodha on 20.08.2018 & paid Rs.500/- for it by online banking, then I was paid twice by mistake, which I confirmed to Mr. Gautham (Representative of ZERODHA) on phone. And they have assured that Rs.500/- will be send back in your bank account. But I have not received my refund Rs.500/- till date. I have talk also to customer care too many time, but matter is still pending.
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42. KK  Sep 5, 2018 17:56 Reply
I had to incur a loss because of the negligence of Zerodha/NSE. I am sure both will not help so planning to raise this with SEBI. Zerodha says I have signed on paper which says server issue is not there problem.
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42.2. PRK  Sep 6, 2018 06:02
Same issue here... Please let me know how to handle this
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42.3. Prem sagar  Sep 6, 2018 09:43
Same problem. We need to start a campaign against them in web media.
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41. Porkodi  Sep 6, 2018 05:58 Reply
Yesterday I placed a BO order on Balkrishind and they have rejected my SL order associated with this trade during the server issue. I could not exit the trade by any means and customer care is not available to exit my position from back-end. It is an MIS order and it is still in my positions. I cannot take this loss. It is a huge money for me.
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40. PRAKASH M  Sep 5, 2018 22:32 Reply
Today i had huge loss bcoz of Zerodha. I cancelled my order of PVR Sell BO..But still it taken order & went up & made me huge loss around 10000..& still that not squared off & carried tomorrow..these bloody people giving silly reasons- server problem..agar paisa loss ho gaya to uska baap dega ka kya,,???
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39. Abhilash  Sep 5, 2018 15:58 Reply
Today on sep 5th , i placed muthootfinance buy order (bracket) and later exited the trade using a sell order. During this time zerodha went offline but there was a sell order which was still open even though my trade was closed. I tried many times to cancel and exit that but the order dint go. Later when the stock hit the price this sell order got executed automatically and has incurred huge losses for me. There hasd been a serious issues with zerodha every now and then but today i got huge losses with this.I would like to know if this loss which i am seeing is by mistake if not i want zerodha to recover these for me.
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38. Neelam  Sep 5, 2018 15:33 Reply
Seriously regretting joining zerodha. Today on 5th sept, i have lost some bucks because of auto squareoff at 3:00.pm, which would have been profit if the squareoff took place as per usual time because my target price would have been achieved at 3:17 p.m. A loads of thumbs down for this platform. Do u have any provisions for compensating or zerodha management only believes in snatching customers money.
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37. Deepak Gupta  Aug 28, 2018 19:35 Reply
Sometime,i guess there is technical issue while transfer a money from demat account to bank account.And second executives of zerodha.com don.t have knowledge about stock market.whenever I ask them about any shares or and any segment,so most of the time,they provide me ashlata narvekar no,when I call on her no.so she directly shout me over my face,she thing I am trying to propose her,she say directly don,t call me,if want to know anything,please send me message on my mail.
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36. Chandra Shekhar  Jun 19, 2018 18:39 Reply
There is a SEBI rule that all the funds lying unused by the Brokers need to be transferred back to the Clients Bank Account.

1st time Zerodha bought overnight liquid funds on my name without informing me. I was shocked how the transaction is executed with Bank of Baroda Mutual Funds something. when I asked Karvy they directed me towards Bank of Baroda. Later when I asked Bank of Baroda how the transaction was executed they were not providing me the details. I mentioned it clearly that I will raise the complaint against them. Later I got the response that Zerodha executed the order. When I raised the issue with Zerodha, Zerodha blamed me that you chose the option that the money should be put in the Liquid Funds on my profile page. In face I never access my profile page. They created the radio buttons and they themselves chose the option and put the blame on me.

Later I gave them the benefit. It's ok. I will put the option refund my money in my account each quarter.

2nd time - Today one guy called me from Belgaum Branch and talked causally that do you trade regularly. I said if you are Zerodha Employee, you should be knowing it. He suggested to put money in Liquid Funds, I told him I don't do that. I only buy and sell options. So he said bye.

Later I got the SMS from Zerodha, that As per your instructions your money is invested in Liquid Funds, although the Funds will be available to trade.

I already made clear to Zerodha, that I don't want my name to be in everyone's book that I bought Funds... and don't give my personal details to anyone. Just refund the money each quarter and I will bring it back.

But today Zerodha again bought Liquid Funds on my name with Reliance Mutual Funds.

This is how Zerodha is operating now a days.

IF you have a Zerodha account. You have to be careful.
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35. Praveena  May 23, 2018 13:27 Reply
Even after multiple escalations Zerodha is not enabling the option to continue to open the account. They are asking to make payment again, while they have already showed that they have received the payment. I requested that if they are not able to enable opening the account, then they can refund the amount, but they are not responding.
First they tried to cheat saying, if the payment is more than 60days prior they cannot process it. But when I provided proof of payment and the escalation mails which was less than one month from the payment date, they tried other excuses.
I have clearly told them that if they cannot open the account with the payment already received, I would first need the refund as I am not sure if their systems can handle payment processing correctly. I will not make any further payments.
Also, they have informed that they do not have the ability to collect the forms offline from my current location of work.
As a result, I do not have any other option than to receive the refund. Please help get the refund of the money.

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