This should be a good continuation to my post 8 months back.
In the past 1 month, I sincerely hope that some armageddon-like earth shattering bug has hit Zerodha’s IT systems because they have caused absolute chaos for me and made it impossible to track my portfolio.
Believe it was 15-20 years back in year 2000, around when ICICIDirect started it’s online trading platform. We’re now in the year 2018 with technology advancing leaps and bounds - so what is the basic, most basic requirement we can expect from our broker???
When we make a trade, it should reflect the following correctly in our portfolio:
1) Avg Buy Price
2) Total Cost / Investment
3) Profit / Loss Amount
4) Gain / Loss %
I mean forget all fancy chart types, stock analysis, different order types, etc etc - this is the MOST BASIC of BASIC things that any broker should be able to provide.
It is absolutely SHOCKING that Zerodha is unable to even meet this most basic expectation.
I’ve already highlighted in my post referenced above - Zerodha’s inability to correctly reflect holdings which have undergone corporate actions. This means, I should simply expect random numbers and figures to show up for all my holdings which have undergone stock split, issued bonues shares, rights issue, demergers etc recently.
Ofcourse, Zerodha has lived up to that expectation perfectly - my holdings in Can Fin Homes, Avanti Feeds, Sintex Plastics etc are all over the place.
Now they’ve set a new benchmark in portfolio tracking - no stock split, no bonus issue, no demerger but still they can’t reflect a simple buy trade correctly in the portfolio.
Example below for REC - I’ve calculated Avg Buy Price - 95.96, CMP - 98.2:
This is what they’re reflecting as of today
This is just 1 example from my portfolio recently. TV18, Innovative Tech Pack - stocks where I’ve bought more than a year back and now done some fresh buying - even those holdings are not reflected properly
It is just MIND BOGGLING how such a pathetic quality broker can be India’s no.2 broker
Below is all the list of holdings and potential reasons they’re not reflecting correctly in my portfolio
- Can Fin Homes - Stock split
- Avanti Feeds - Stock split + Bonus Issue
- Piramal - Rights issue
- ICICI Bank - bought prior to FY18
- TV18 - bought prior to FY18
- REC - transferred shares from ICICI demat account in 2014 and sold all in 2015
- Innovative Tech - bought prior to FY18
- Sintex Plastics - Demerger
- Secur Credential - IPO
- Manappuram - bought prior to FY18
I seriously have NO WORDS when half of your portfolio is not being reflected correctly for the past 1 month. I thought it may be a temporary issue, but too much water has flown under the bridge to still overlook this issue and not highlight this crap discount brokerage
They’re basically saying to long term investors - Get Out and Get Lost! We are only here to serve intra-day traders who buy and sell the same day and we are not concerned with these menial things.
Time has come to name and shame such an attitude!
PS: For those who might suggest to call them and resolve this, already tried this as well and got the response that they acknowledge this issue and are working on a new system to be rolled out soon - god knows when!