Zerodha users face another outage; IIFL also hit with derivative order issues

There is no official statement from Zerodha yet.

In yet another technical glitch, Zerodha's broking platform on June 21, causing significant issues for traders for a brief period. Stocks such as India Cement, which is no longer under the F&O ban, continued to be shown as under the ban, preventing orders from being placed. The broking platform has apparently started working again after the brief outage.

Just 15 days ago, on Monday, June 3, Zerodha faced another glitch. This occurred when the domestic benchmark indices reached record high levels after exit polls on Saturday, June 1 indicated a third term for PM Modi's government in the Lok Sabha elections.

Users took to social media platform X to express their frustrations.

Vivek Khatri (@CaVivekkhatri) posted:

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

Another user, Balbhadra Singh (@imbalbhadra), tweeted:

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

"@zerodhaonline · Jun 21

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

There was an intermittent issue with ticks affecting a section of our customers. It was resolved within 5 minutes. We didn’t face any issues as far as the order placements are concerned.

On the other hand, IIFL brokerage accounts also witnessed a freeze. Large order placements caused IIFL brokerage to hit its margin limits, preventing derivatives position placements.

Aditya Singhania (@Simple_trader_) tweeted:

"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 (@JayneshKasliwal) posted:

"IIFL Down. Algotest Down. Zerodha Down. All 3 together!"