I have been using Zerodha for more than 3 years now. I like their easy to use trading interfaces (Kite and Coin). I do very few cash transactions a year, so my main goal was to avoid paying 0.1% brokerage fee for HDFC securities.
I have never faced issues placing a trade. There are other problems:
- Their Q back office is not very accurate. Inaccuracies in holdings, profit, loss, avg. buying price etc. So you cannot rely on it for tax purposes.
- Interactions with support team are not always seamless. Many times they don’t try to understand the customer’s problem and unilaterally ‘close’ support tickets without waiting to hear back from the customer. Then you have to open a new ticket with the same problem.
- Money withdrawal takes time, sometimes upto 2-3 working days.
I must say that I have never faced any monetary loss due to Zerodha. Just the above 3 things.