ICICIdirect Resolves Trading Site Issues That Had Left Customers Trapped and Helpless for Few Hours
Moneylife Digital Team 18 October 2021
Updated to include a response from ICICI Securities on resolving the issue
Many customers of ICICIdirect on Monday faced issues with login and placing orders on the website. ICICIdirect says the issues were due to system upgradation, and its services were not available. Even the mobile app was showing a similar error. ICICIdirect.com, the retail trading and investment services portal of ICICI Securities Ltd, however, had claimed that "some of its customers are facing intermittent issues while accessing site and app”. "We have identified the issue, and our teams are working to resolve it at the earliest. I will update you once we have resolved it," an official from ICICI Securities told Moneylife.
When checked, the homepage of ICICIdirect was unavailable. All we could open was the direct content page as shared by it on its Twitter account. However, this page also showed an error message, which reads, "ICICIdirect Content Section will not be available till 12th Jun 2021 02:45 pm on account of system up-gradation. To Login for Trading, please click here. We truly regret the inconvenience caused."
Even the page for trading, https://secure.icicidirect.com/, was showing an error, "Service Unavailable."
Many investor-traders are venting their anger against the portal on social media.
Several investors are even questioning the logic behind carrying out system up-gradation during market hours.
In a tweet response, the customer service handle of ICICIDirect (@Icicidirectcare) claims that some of its customers are faicing intermittent issues while accessing site and app. "Our teams are working to resolve this issue at the earliest. Regret the inconvenience caused," it says.
In an email at 1.53pm Monday, the official from ICICI Securities says, "Glad to update you that the tech issue which impacted some of our customers earlier today has now been fully resolved. Customers are now able to login to the app and website for their trade."
1 month ago
ICICI Securities' systems and operations are broken. I opened an account earlier this year. They took 4.5 months to open my account. They made me sign randomly on the sides of every page even where there was no printed cross. Eventually, when the form was submitted, they used those extra signatures as my countersign and went ahead and changed my entire address on the form, including the city and country. I was not even informed, leave aside taking my consent. It is almost a fraud. And their systems are so pathetic that it doesn't even accept a spacebar between words in the address field and neither does it accept any special characters like comma and fullstop. My address on their system is a single word of almost 100 characters. Tried changing it myself online and also requested my RM but both were unsuccessful. RM told me that is how their system is !!! Result is that DHL courier couldn't read the address and deliver the account opening letter to me :)
1 month ago
I am facing loss of approx Rs. 2 lacks due to this ICICI DIRECT site issue.

I have mailed them the details and demanded for the loss amount.
but havent received and reply except that they will revert in 2 days.
Surely i will take help of the Honorable Court if they dont refund my loss amount .

Suman Sengupta
1 month ago
One of the pathetic full service broker in town I guess. I know because I use Icici Direct. Their service is akin to discount broker, helpdesk just repeats what we ask again again, no relevant relationship manager. The grievance cell does not even respond. The guys woke up when i threatened them with writing to their CEO with reminder and reminder of emails. Just using this site for execution of the transaction - nothing else. Got caught in the prepaid plan and hence sticking with them. If not would have gone somewhere else. I think the entire group is managed by tired people. Icici Lombard is another group which does not respond to anything at all. Just callous approach to customers.
2 months ago
As RBI slspped a fine ? 1.95 crores on Standard& Chartered bank for non complaince of issues SEBI should fine brokers at the rate of ? 1 crore per minute when trading site becomes dead.
Replied to lsrbivol comment 1 month ago
I fully agree - Till now there has not been a single email or sms or whatsapp that they are doing some work on their network. When they moved from old site to new site and when clicking on sell, the entire quantity of shares which held was autopopulated in the sell field when in fact it should have been blank and user input was required. Wrote to their grievance, who slept and slept and slept - Every email you write, tell them you are going to their ceo then they will respond.
2 months ago
Icicidirect is a nonresponsive headed by brainless and team full of unenlightened who know neither English or basic trasing knowledge. Rich broker to make clients poorer.
2 months ago
System upgradation by a trading platform like ICICI Direct during the 1st day of the week especially when the investors wanted to capitalise on bullish trend; is inexcusable and condemnable. they should come out with a better excuse if not an honest reason like "Servers couldnt take the load"; Data Centre where trading servers were hosted went down, incorrect configuration made etc etc
2 months ago
Sebi need to make them liable for any losses that may incur. This happens often with other online brokers too.
Replied to rdalal1980 comment 2 months ago
off course. end of the day they are not giving free service, we are paying brokerage to them ...
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