today’s message
System is not connected to MCX market
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Yes there is huge delay in data as compared with other brokers and tradingview.
hello everyone,
I have been trading for the last 10 years on MCX in base metals and I have punched trades every day. It is unfortunate to see so many people having losses due to exchange issues but I don’t understand why people don’t hold them back from trading in MCX for 2-3 days when we know that they are moving to a new platform and 99% they will face some technical issues.it is always better to sit back and watch the market working smoothly for at least 2 days on a new platform and then bang your trades in the market.
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Yeah… Absolutely true , but thing is though i had not entered any fresh trades. had went into position from past 2 weeks in NG. Bad luck 
@pavz
but when MCX announced that on a particular date, they will move to a new platform it should have been a big RED FLAG for any positional trader as it is 100% not possible for any system to upgrade without any issues. I ran like wind from all my positions when MCX said" We are migrating to a new platform", but I think this comes with experience.
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The point here is that if the exchange knows that they might get into trouble after updating the platform and if the technically strong brokers are also aware about that…they should halt the trading themselves on the platform for 2-3 days. There are crores of people trading everyday. Do you think everyone has that much presence of mind to stop trading for around 2-3 days after a technological update? It is the responsibility of the exchange and brokers to halt the trading sessions and make them live only after rigorous testing and confirmation of smooth working.
well, my friend keeps blaming brokers, exchanges and technical glitches but remember 1 thing -lost money is not coming back, so it’s always better to have a self-preparation. I always believe that, as a retail trader I am not TOO BIG TO FAIL, so no one will care about me. I have to take my own care.
I just have one thing in markets – complaining complaining complaining will not help, saving saving saving money will only help to grow my equity curve.
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Seems like working now. Pls check.
we can blame all the technological setup for such bid/ask
but not to trade in such conditions should be my own decision.
You took this to a different direction. I was not talking about how one should manage their risk and protect their money. The point was that majority of retailers don’t have the presence of mind to know about or care about technical glitches as it is very hard to keep track of. It is the full responsibility of exchanges and brokers to maintain smooth operations of the market. If the new updates are not fully tested, then the trading should be halted for an extended period. When I placed the order yesterday, it moved into pending. I immediately assessed the situation and tried to cancel the order as I knew something was wrong. But it didn’t cancel as it was in transit for long time. But when after sometime MCX started working, my order was cancelled and I suffered 0 loss. That’s what I am saying that people don’t have this kind of presence of mind always. Many are trading part time. As much as it is the responsibility of the traders to manage their risk, it is the responsibility of exchanges and firstly brokers to keep operations smooth.
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well, I am 100% with you, all that you mention should have happened, but in reality, I am also almost 100% sure that no one is going to get any of their money back. and it will never happen the way you want.so my priority in my trading account is to have “The Presence of Mind” so at least I can reduce the risk of losing money in any situation.
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I am still not able to see issue resolved and Dhan app is not allowing us to cancle.
I seeing 80k losses just b3cause of your app
Yes nobody is going to get their money back. Fortunately my position was cancelled on time so didn’t loose any money.
@PravinJ who is responsible for customer losses incurred due to this connectivity glitch?
We have been paying Dhan for all the services and you guys should be responsible for all issues. If MCX is responsible you should talk to them and get our money back not us.
You have only mention that you are using in house technology probably thats why you are the only one who had issue. Other brokers were running perfectly fine.
Also I do not see any proper channel where consumer can connect if there are issues. This forum works only when there are smooth operation. If there are issues neither anyone answer phone calls, chat or your support team in this community. Allot of people were talikng about their losses and issues but most of that went unnoticed
Why someone should trust such brokerage app.
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Hi @Kushvikram We stand by our users, in the past when there was issues that were as a result of technical issues at our end, we have compensated our users.
This is a situation where there is absolutely no issue at our end, we have raised our concerns with MCX already. The full incident report is published here: (Resolved with MCX) Incident Report: Trading on MCX Commodities on 16 Oct - #73 by anantinvst
This is just a generic answer. I have placed my order at 1 pm same is reflecting in my contract note as well. When you guys have identified issue around 10:45 why have you allowed trades to be placed after that. And if trades were already placed you should have communicated exchange to stop it.
Because you guys have stopped trading in mcx no one was able to square off position. Have you guys tested the connectivity before day begin like you did in 16th night? There was no response from your side throughout the day.
Also if this was not an issue from your side why I was able to see the available margin along with open position for the same amount later in the day on 16th?
And issue was not resolved till later yesterday instead you guys have mention in the morning that everything is resolved.
I could see that your team was able to square some of position that means you were having some control over trading still many of us have incurred losses.
You have updated post with generic timeline. Can you please share if there was official complain raised against MCX? There should be someone repsonsible in this event. Its financial loss to the investors.
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Hi @Kushvikram We have answered all this in the incident report. Only after exchange acknowledged there was an issue, we stopped trading. Full details are here: (Resolved with MCX) Incident Report: Trading on MCX Commodities on 16 Oct - #59 by adi2007
So who is responsible to payoff our losses? Investors have incurred losses due to technology faillure someone should be responsible…