Trading resumes after multiple delays; Users take to ‘X’ to complain

ICICIDirect’s app has resumed trading after three delays, leading to widespread outrage on social media. The firm took to social media platform ‘X’ to announce that activities have resumed on the website.

Investors using the ICICIDirect platform to trade were in for a rude shock on Friday morning. They could not login because the platform was down for maintenance.

Their screen first showed a message saying the app and website was down for maintenance and would be operational again by 9:30 AM. There after, the app has had three delays, first to 9:45 AM, then to 10 AM before trading activities finally resumed around 10:20 AM.

As of the end of financial year 2024, ICICI Direct had a total of 1.8 million active clients.

Many users have taken to social media platform “X” to complain against the outage and that the activity is being taken up during a trading day and not on a weekend.

There is still no clarity on why the platform had to undertake a “maintenance” activity on a trading day instead of a weekend that would not have inconvenienced traders.

Many users have also tagged authorities, including market regulator SEBI on the amount of money they are losing due to the trading difficulties.

For ICICI Direct, the minimum brokerage for transactions up to ₹6,364 on stocks quoting more than ₹10 is ₹35 per trade or 0.75% of the trade value, whichever is lower.

To follow with further updates.