Zerodha is an Indian retail equity broker that claims itself to be No.1
in India, but except for the broker‘s marketing efforts, it’s hard to
say how much Zerodha deserves this title.
On April 29th, 2020,
Zerodha was showered by complaints from investors, making everyone
wondering about what happened.To get more news about
WikiFX, you can visit wikifx news official website.
WikiFX
team tried to log on Zerodhas mobile trading platform Kite, but it
failed to respond for a long time, while the trading platform online had
the same issue.
During the difficult process, the following error prompts kept popping out:
“Error while fetching chart data. Please refresh again.
Yet Zerodha still brags about how its platform has “made investing easier for clients”.
What‘s
more, despite the heavy complaints, Zerodha kept on making social
network posts as if nothing happened, neither did they respond to
clients’ complaints by offering an explanation or apology, leaving a
series of questions unanswered: Why didn‘t Zerodha apologize to the
complainants？ Why wasn’t Zerodha investigated by SEBI, the regulator
that supposedly oversees the broker？ And who should be held accountable
for investors losses？
A victim complained that he and thousands of
victims like him had lost most of their investments at Zerodha, and they
no longer believe in Zerodha or its so-called SEBI regulation. The
investor suffered heavy losses due to latency of Zerodhas trading
platform.
Bombarded with complaints from victims, Zerodha has lost
its credibility among investors. The frequent issues of latency,
inaccurate quotes and order execution failure within just a month make
this broker appear more like an illegal broker, rather than a compliant
one.
Per checking WikiFX App, Zerodha has a poor rating of 1.24 and
is currently unregulated. In the past 2 weeks, WikiFX received massive
complaints against this broker, so investors should definitely watch out
for it and always remember to check a brokers compliance and
qualifications before investing.
Up till now, WikiFX App has
recorded the profiles of nearly 18,000 brokers around the world,
integrating forum, exposure, inquiry, news feed and other functions to
better protect investors asset safety.
The Wall