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Hello, World – Zerodha, India's largest stock broker

zerodha.tech

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Re: Hello, World – Zerodha, India's largest stock broker

#21

Post by smdz »

jayind wrote: post #11

They screw their customers atleast once every month with technical glitches resulting in huge loss for the day traders,who are their major customers..and they are never sorry about it.

Well that is so true, sometimes the glitches are very consistent across a few days and they take time to acknowledge it or will not acknowledge it. Over a few years I have come to understand what is reliable and what is to be double checked and when it is not reliable. I have ended up with bad order executions because of their buggy Kite Web UI that doesn't update at times. The UX for trading is not professional. Don't have to invent a new interface, just look at the existing desktop platforms. And they refuse to provide a desktop trading platform. The only good part is their apis so that people like me can develop their own interfaces. But once I find another broker with reliable REST APIs for OMS and lesser glitches, I will move out.

Re: Hello, World – Zerodha, India's largest stock broker

#23

Post by karanke »

knadh wrote: post #15
jayind wrote: post #11

They screw their customers atleast once every month with technical glitches resulting in huge loss for the day traders,who are their major customers..and they are never sorry about it.

Hey, sorry about that. And we're always sorry about technical issues when they happen, and 9/10 times, they stem from systems outside of our control. The underlying infrastructure in the Indian capital markets is very constrained and was not really built for the kind of scale we're operating at in 2020. The next biggest broker processes only a fraction of our daily volumes. So it really is a matter of scale, industry…

Wait, so what's the problem here?

You're processing an average of 1.33 million trades/hour. Let's double that and round up for peak traffic, that's 3 million trades/hour or 833.33 trades/second.

Unless I'm missing something, you only need 1 line. What's the problem here?

Re: Hello, World – Zerodha, India's largest stock broker

#24

Post by knadh »

lmz wrote: post #18
sbmthakur wrote: post #13

A lot of good tips in there. Thank you for sharing. One thing grabbed my attention... > Hybrid infra. Physical racks where numerous exchange leased lines terminate + AWS. Sometimes, these leased lines go down when the civic body in Mumbai digs up roads. Isn't it better to fully rely on Cloud and Infra providers in order to completely avoid such instances?

My guess is that the leased lines are a requirement to connect to their partners.

That is correct. Have to have physical racks at approved data centres to terminate exchange leased lines. System audit regulations means that exchange approved auditors walk into the data centres and look at the racks and verify compliance :)

Re: Hello, World – Zerodha, India's largest stock broker

#27

Post by [deleted] »

knadh wrote: post #16
greatwhitenorth wrote: post #7

I hope all the positive replies here are from those who actually used Zerodha themselves over a period of time. When I tried it last year, the website was buggy and even saw HTML errors in response. I moved away to a traditional broker as a result of that.

As I mentioned in another response, sorry about that. We've had three incidents (intermittent degradation of service over the last two months that lasted 7 and 30 mins respectively). There were two similar incidents last year. Not sure what you mean by "HTML errors", but apart from these unfortunate incidents stemming from legacy infra dependencies, there are no issues, and we cleared a billion trades last year. Not…

[deleted]

Re: Hello, World – Zerodha, India's largest stock broker

#28

Post by smdz »

knadh wrote: post #15
jayind wrote: post #11

They screw their customers atleast once every month with technical glitches resulting in huge loss for the day traders,who are their major customers..and they are never sorry about it.

Hey, sorry about that. And we're always sorry about technical issues when they happen, and 9/10 times, they stem from systems outside of our control. The underlying infrastructure in the Indian capital markets is very constrained and was not really built for the kind of scale we're operating at in 2020. The next biggest broker processes only a fraction of our daily volumes. So it really is a matter of scale, industry…

Saying sorry doesn't fix the losses. Pro traders are used to taking losses and can manage it. But it is super bad when we lose more than 50% of a huge profit in case of a exceptional market move just because of Kite not able to handle the load and accept an order. Or worst when there is an exceptional loss that just doubles because of system failure. You guys did a great job on the platform, but you should provide reliability to professionals who don't mind paying you extra for that

Re: Hello, World – Zerodha, India's largest stock broker

#29

Post by knadh »

sunu wrote: post #26

If anyone from Zerodha tech team is here, I wonder what's the reasoning behind Zerodha's weird 2FA setup? A static password + a static pin is not really 2FA IMO. What's the problem with supporting standard hardware or app based 2FA that requires an OTP?

Hey, you can turn on biometric 2FA on your smartphone, or use TOTP (Kite web -> My profile -> Password and security).

The static PIN is a legacy hole that has to be plugged. Coincidentally, we wrote to the regulator about this exact same matter recently. We'll hopefully see a regulatory announcement mandating "real" 2FA for everyone.

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