Comment on Our Story till now...
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02 Jul 2018, 04:37 PM
I have been holding zerodha account for last 3 years and further signed up for Coin also and have held substantial holdings in both. I have also experience with many other brokers. I am in trade for 20 yrs or so. Let me give my honest opinion on Zerodha.. Initially there was lot of hype ,, discount broker, tech driven etc. But all that is a big farce. There are serious issues with Zerodha equity and mutual funds (hope to God that my money is not being swindled by zerodha, seriously).. Issues I face:
a) The holding average in equities keeps fluctuating like made which does not happen in any broker sites
b) Recently for one of my holding the average has fallen far below purchase average. Eg: If I had 100 shares at Rs. Rs. 275 average and I buy 10 shares of same company at Rs. 260 per share. The holding value of total 110 shares has reduced to Rs. 226 per share. No broker in the world will calculate average like this. Zerodha is playing and manipulating trades and it is not automated.
c)The total sales quantity of a company I am holding shows two different sales qty. for same company in a financial year and the difference is huge. Its very clear zerodha is manipulating our accounts and ledgers and no automation of the same.
d) Mutual Funds – one scheme declared units in lieu of cash dividend and since in coin everything is held in demat the same units are not getting added to my holding. I am calling the zerodha back office who are just freshers who dont understand head or tail of what I am saying.
e) Zerodha account ledger has lot of mistakes and my quantity sold is not reflected in the ledger.
f) Back Office is clue less for every issue we call they are unable to resolve and ask to raise TICKET (bus ticket, train ticket or TICKET to Hell , I dont know) and they say they will arrange call back. No one calls.
g) The site itself crashes many times. Derivatives we are not allowed to square off after 3 pm.
h) Mututal Funds reports are incorrect and insufficient.
h) If we want to escalate and talk to any senior manager , there is no one out there and you cant reach senior guys. The dont believe in talking face to face and only believe in raining tickets …. strange organization… utter back office boys in dark who dont understand the real world.
My hone advise to everyone please close zerodha account, before that do a thorough reconciliation of your accounts and dealing and transfer your holding to another safe brokers..