Quick Summary
Apex Capital Research offers stock and options trading calls under SEBI Research Analyst registration INH000017240. Its Systematic Trading Plan is priced at exactly Rs 1,50,000 a year, just Rs 1,000 under SEBI’s Rs 1,51,000 annual fee cap, while its Monthly and Quarterly billing options annualise to two to three times that limit. The same pricing table also appears, unchanged, on two different service pages. A client testimonial promotes a “Pro plan” that does not exist among the firm’s disclosed pricing tiers, and its published complaint data has not been updated since January 2025, with one complaint from October 2024 left unresolved for at least three months. This page covers all of it.
Apex Capital Research prices its Yearly Systematic Trading Plan at exactly Rs 1,50,000, precisely Rs 1,000 under SEBI’s annual fee cap.
A number landing that close to a regulatory ceiling is rarely a coincidence.
This page covers what Apex Capital Research actually offers, the full pricing breakdown, a pricing table that appears to have been copied between two unrelated services, a testimonial promoting a plan that does not exist, and gaps in its published complaint data.
What Does Apex Capital Research Offer?
Apex Capital Research describes services across Stock Cash, Option, Future, Banknifty and Nifty Options, Banknifty and Nifty Future, and a Systematic Trading Plan.
Its Option Services page positions itself around stock option intraday calls for day traders, promising close monitoring of stocks and trends for entry and exit opportunities, along with daily support and follow-up through chat and SMS.
The firm operates under SEBI Research Analyst registration INH000017240, held by Kashish Joshi.
For the registration verification, a written disclaimer that denies a second website he also runs, and an address that does not match SEBI’s own record, the Kashish Joshi page on this site covers all of that.
Does Apex Capital Research’s Pricing Exceed SEBI’s Fee Cap?
Apex Capital Research publishes two separate pricing structures, and one of them sits far closer to a regulatory problem than the other.
Stock Future Pricing, shown on both the Stock Cash and Option pages
| Duration | Price |
|---|---|
| Monthly | Rs 10,000 plus GST |
| Quarterly | Rs 25,000 plus GST |
| Half Yearly | Rs 40,000 plus GST |
| Yearly | Rs 70,000 plus GST |
Systematic Trading Plan, Premium
| Duration | Price |
|---|---|
| Monthly | Rs 25,000 plus GST |
| Quarterly | Rs 50,000 plus GST |
| Half Yearly | Rs 1,00,000 |
| Yearly | Rs 1,50,000 |
Annualising the Systematic Trading Plan tells the real story. Monthly billing works out to Rs 3,00,000 a year. Quarterly works out to Rs 2,00,000 a year. Half-yearly also works out to Rs 2,00,000 a year. All three sit well above SEBI’s Rs 1,51,000 annual cap for individual and HUF clients.
Additionally, The Yearly option, by contrast, is priced at exactly Rs 1,50,000, just Rs 1,000 under the cap. This is a strikingly precise number to land on, and it matches a pattern worth being cautious about, where pricing appears set right up against the regulatory ceiling rather than derived independently from what the service is actually worth.
Why Does the Same Pricing Table Appear on Two Different Service Pages?
The exact same pricing table, labelled Stock Future Pricing, appears on both the Stock Cash page and the Option page, unchanged.
Stock Cash and Option are two different products with different risk profiles and different underlying instruments. A client looking at either page has no way to know whether this pricing genuinely applies to the specific service advertised, or whether it was simply left over from copying one page into another.
At minimum, this points to carelessness in how the site’s core pricing information was put together. At worst, a client could pay based on a price table that was never actually built for the service they are subscribing to.
Are Apex Capital Research’s Client Reviews Genuine?
A client testimonial on the site, attributed to Ravi Prashad from Delhi, describes upgrading to the firm’s “Pro plan” and highly recommends the service.
No Pro plan appears anywhere among Apex Capital Research’s disclosed pricing tiers. The only structures published are the Stock Future Pricing table and the Systematic Trading Plan, neither of which includes a tier called Pro.
A testimonial praising a plan that does not exist in the firm’s own published pricing is not a credible independent review. It reads as generic marketing content rather than a genuine account from a paying client.
Separately, the FAQ sections on both apexcapitalresearch domain website and kashishjoshiresearch website repeat the same generic questions, with only the website name swapped between them. Templated, duplicated FAQ content across two sites run by the same registered individual is consistent with content built for volume rather than to answer the specific questions a client of either service would actually have.
What Does Apex Capital Research’s Complaint Data Show?
Apex’s monthly complaint trend table begins in October 2024, with 3 complaints received and 2 resolved that month, leaving 1 pending.
That single pending complaint carried forward with zero movement through November, December, and January 2025, three additional months with no resolution recorded. A complaint sitting unresolved for that length of time sits right at the edge of what SEBI’s own disclosure format treats as a complaint pending beyond three months.
The data itself has not been updated since January 2025, even though this review was written in August 2026. A SEBI registered Research Analyst is expected to keep this disclosure current alongside the trending month, not leave it frozen more than a year and a half in the past.
On kashishjoshiresearch website, the Complaint Data page returns an error when clicked, meaning there is no complaint disclosure visible on that site at all, despite it being run by the same registered individual under the same SEBI number.
How Do You File a Complaint Against Apex Capital Research?
If your experience with Apex Capital Research, or with Kashish Joshi directly, has not matched what was promised, particularly around the Systematic Trading Plan’s pricing or the accuracy of what you were shown before subscribing, a defined escalation path is available.
Save your payment receipt for the specific plan and billing cycle you subscribed to, along with any screenshots of the pricing page or testimonials that influenced your decision.
Write to the firm directly first, using the compliance contact on SEBI’s record, and allow time for a written response before escalating further.
If the response is unsatisfactory, file a SEBI SCORES complaint using registration number INH000017240, attaching your payment proof and the pricing evidence above if your complaint relates to the fee cap.
But if SCORES does not resolve the matter, SMART ODR offers structured online mediation as the next stage.
If your issue involves a different Research Analyst entirely, the complaint against SEBI registered research analyst page on this site covers that broader process.
Signed up for the Systematic Trading Plan and concerned about the annualised cost?
We check your billing against SEBI’s fee cap, confirm whether it qualifies as a valid complaint, and prepare your SCORES filing from start to finish. Register with us for a free consultation.
Conclusion
Apex Capital Research operates under a genuine SEBI registration, and its Yearly Systematic Trading Plan technically sits under SEBI’s fee cap.
Alongside that, the same plan’s Monthly and Quarterly options annualise to two to three times the cap, the same pricing table appears to have been copied across two unrelated services, a testimonial promotes a plan that does not exist, and the firm’s own complaint data has sat frozen since January 2025 with one complaint left unresolved for months. None of this proves wrongdoing on its own, but every one of these findings is independently checkable against the firm’s own published pages.
Read the pricing table against SEBI’s cap for whichever plan you are considering, and treat any testimonial referencing a plan you cannot find in the pricing pages as a reason for caution rather than reassurance.
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Frequently Asked Questions
The Systematic Trading Plan's Monthly and Quarterly options annualise to Rs 3,00,000 and Rs 2,00,000 respectively, both well above SEBI's Rs 1,51,000 cap. The Yearly option is priced at exactly Rs 1,50,000, just under the limit.
The Stock Future Pricing table appears unchanged on both the Stock Cash and Option pages, two different products, raising doubts about whether the pricing was built specifically for either service.
No plan by that name appears anywhere in the firm's disclosed pricing structures. A testimonial referencing a nonexistent plan is not a credible basis for evaluating the service.
The published complaint trend table has not been updated since January 2025, and one complaint from October 2024 was left pending with no resolution recorded for at least three months.
No. kashishjoshiresearch website's Complaint Data page returns an error when clicked, meaning there is no visible complaint disclosure on that site at all.
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