Just found out that Zerodha has ended it's 60 days challenge. The sneaky decision came after the through bashing by trader community for the hasty release of the bug ridden and completely unreliable trading platform marketed as Kite 3.0.
Zerodha, which recently celebrated being #3 Broker on D-Street, and announced the achievement on every platform possible including browser notifications to kite users, this time remained completely tight lipped.
The sources close to the development pointed out towards 3 possibilities.
1. Either Zerodha is going deeper and deeper and increasing competition is really burning into it's skin.
2. Zerodha has become behemoth without any substantial increase in infrastructure, which resulted in tremendous problems and large losses to traders. Hence it wants to cut size of the customer base while forcing remaining customers to pay more.
3. After facing ever increasing criticism for problems faced by traders on virtually daily basis, esp. the disaster called Kite 3.0 - overall HR load on Zerodha increased manifold. Firstly the current Development recruits are so pathetic that they can't handle even simple features which the free brokerage firm like Finvasia and Upstox also offer. So there was a growing need to hire some real coders. Also to avoid bad publicity zerodha have to decide to start a new dept of Official Stooges to get any critical comments on any social platforms esp. tradingqna deleted immediately (Nithin gave new meaning to word of mouth publicity!)
This over all increased the outlay and Zerodha is forced to milk as much brokerage from customers as possible.
At last it seems that the prophecy of someone called Kotak or someone else I don't remember is about to become reality in near future.
Zerodha, which recently celebrated being #3 Broker on D-Street, and announced the achievement on every platform possible including browser notifications to kite users, this time remained completely tight lipped.
The sources close to the development pointed out towards 3 possibilities.
1. Either Zerodha is going deeper and deeper and increasing competition is really burning into it's skin.
2. Zerodha has become behemoth without any substantial increase in infrastructure, which resulted in tremendous problems and large losses to traders. Hence it wants to cut size of the customer base while forcing remaining customers to pay more.
3. After facing ever increasing criticism for problems faced by traders on virtually daily basis, esp. the disaster called Kite 3.0 - overall HR load on Zerodha increased manifold. Firstly the current Development recruits are so pathetic that they can't handle even simple features which the free brokerage firm like Finvasia and Upstox also offer. So there was a growing need to hire some real coders. Also to avoid bad publicity zerodha have to decide to start a new dept of Official Stooges to get any critical comments on any social platforms esp. tradingqna deleted immediately (Nithin gave new meaning to word of mouth publicity!)
This over all increased the outlay and Zerodha is forced to milk as much brokerage from customers as possible.
At last it seems that the prophecy of someone called Kotak or someone else I don't remember is about to become reality in near future.