ICICIdirect's trading site crashes; customers trapped and helpless
Moneylife Digital Team 08 July 2010

The online trading system as well as the phone-order service of ICICIdirect broke down today leaving numerous customers feeling completely helpless. However, the company is keeping mum so far

ICICIdirect.com, ICICI Securities Ltd's retail trading and investment services portal crashed today due to technical glitches. This has put all of its customers in deep trouble. Till writing the story, the trading or customer login page on icicidirect.com was showing an error message saying:"Dear Customer, Our website ICICIdirect.com is not available today due to technical issues. We truly regret the inconvenience caused to you."

ICICIdirect.com was down since morning with a message that the services will be resumed at 8.55am, the time when trading commences on bourses. However, throughout the day, customers were not able to log in or do any online trading. Even its CallNtrade facility used for placing orders through a phone was not working.

According to some customers, their repeated calls to ICICIdirect's helpline were met with replies like "Sorry, but we have a technical problem"; "We cannot transfer to our superior because he is on another call" and "Our superior will give you the same response". The media relations person first put Moneylife on hold and then did not take the subsequent calls. Our query to the CEO, Madhabi Puri Buch has not been responded to.

ICICIdirect does not have a dedicated helpline and the customers have to go through the ICICI Bank helpline in a series of complicated steps, with a wait time of up to 7-10 minutes at times, a customer said.

The magnitude of the technical problem was such that the brokerage was not even taking orders over the phone, confirmed another customer.

The Sensex jumped by more than 200 points within seconds of opening today thanks to strong overseas markets. Customers who wanted to square off their shorts were forced to watch their losses mount due to the technical problem. Those who wanted to sell their shares could not book profits.

"ICICIdirect is one of the most expensive online brokers and a breakdown in its services is very upsetting," one customer told us

Comments
karankapur
1 month ago
The worst possible action is to NOT communicate the reasons or the expected duration of an outage with the customers. It is disgraceful. Even if it is a major systems glitch or a ransomware attack that has forced ICICIDirect to shutdown its trading systems, The clients have a RIGHT to know. Clients are financially affected. Wake UP ICICI Board of Directors before this blows up into consumer litigation
drtanmaysaha01
8 months ago
ICICI Direct is basically worthless. The most expensive with poorest service in terms of online & off line both. I have determind to shift HDFC securities or IIFL. They charge either equal or less but service is far far better than these pathetic broker
ashokchirvi
8 months ago
It is ridiculous that the site is crashing frequently. The. Crash at the fag end of the FY, when vital decisions on capital gains/ losses are to be taken by the demat holders, is deplorable. We can not dig out statements for the year ending March 2022 due to non accessibility. Hope someone is listening
avanish.bhadauria
8 months ago
Its really horrible experience
avanish.bhadauria
8 months ago
We should quit from this service, the customer service is too poor and inefficient but very expansive. We should boycott this ICICI , as I think..as a sufferer
kamalokok
10 months ago
Ha again the crash God help us poor souls
mdmane51
1 year ago
Now Im going to loss from profit who responsible
ananthahojo
1 year ago
RBI must fine them 20-30 crores. This is what happens in other countries if your system is down… the loss to customers may be more than 500 crores
mdmane51
Replied to ananthahojo comment 1 year ago
Yes
samirsarkar369
1 year ago
What the service,during off day you cant maintenance the site?
bharadrm
1 year ago
ICICIDIRECT do not respond to any technical fault. This is from my experience.
kamalokok
1 year ago
To hell with your upgradation.
kamalokok
1 year ago
Icici playing with other people's money.worst worst service. Better they close their business and quit.
Bhaski
1 year ago
ICICIDIRECT - Site is down today 18.10.2021. Last week also it was down for few times ....
consult.ravinathan
Replied to Bhaski comment 1 year ago
Till 9.35 AM today 18-10-21 the same is haaanngging . waaaaat can be dooooon ?
kamalokok
1 year ago
Why this people from icici not rectify. Pathetic service worst.
vijaysawant.vs
1 year ago
Don't know the status of transaction done today dtd 31.08.2021 due to not able access icicidirect. Is there any contact no?
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