“Niklo mat, sir. Niklo mat. Recover ho jayega.”
That was the last thing the voice on WhatsApp told Rajeev (name changed) before his option expired at almost zero and ₹45,000 disappeared.
He had been talking to this person for nearly a year. A representative tied to a trading platform had been after him for months, the same line every time: invest, sir, just try it once.
To prove it was real, the rep showed him two or three demo trades, all sitting in profit. Then came a small live test. Rajeev put in ₹1,000 and made ₹200 to ₹300. It looked clean. It looked safe.
So when the rep said “₹50,000 add karo, ab proper chaalu karte hain,” Rajeev added what he had: ₹45,000.
What happened next was not trading. It was a machine. The rep placed order after order in the account, buy, sell, buy again, all on WhatsApp calls, never on a recorded line. Every time Rajeev got nervous, the answer was identical: “Hold karo, niklo mat, recover ho jayega.” The position ran to expiry and collapsed to 0.5. The capital was gone.
Then he saw the real damage. On a ₹45,000 account, the brokerage charged was ₹30,000. Two-thirds of his money had not been lost to the market at all. It had been converted into commission.
The signs were there in hindsight. The rep insisted on WhatsApp calls only and deleted the chat every single day. He had floated a profit-sharing deal: “Profit ka 20–30% mera rahega.” And the moment the money was gone, he blocked Rajeev everywhere. New number? Blocked again.
That is when Rajeev reached out to us. We have taken up his case and the pattern inside it is one of the oldest stock broker frauds in India, a representative can run.
This Was Not Bad Luck. It Was Churning.
When a broker or its sub-broker earns on every single trade, there is a quiet temptation: to trade your account not to make you money, but to generate their commission. That is called churning, and it is a clear violation. Here is what gave it away:
- Unsolicited, hands-on trade calls. A representative dictating exact buy and sell orders on your capital is taking on unauthorised trading risk far outside what he is licensed to do.
- Rapid buy-sell to manufacture brokerage. ₹30,000 of brokerage on ₹45,000 of capital is not a fee. It is the entire point of the exercise.
- “Hold, don’t exit, it will recover.” Pushing you to stay in a losing trade with a recovery promise is prohibited. No one can assure a market outcome.
- WhatsApp-only contact and deleted chats. Avoiding a recorded line and wiping the trail every day is how misconduct hides from its own evidence.
- A profit-sharing pitch. A registered intermediary asking for a cut of your “profits” is offering something it cannot legally offer.
A brokerage churning complaint starts exactly here when the pattern of trades serves the representative’s commission, not your capital.
How To Recover Your Money?
If this is what happened to you, the money is not necessarily gone.
A SEBI-registered broker is fully accountable for the conduct of every representative operating under its name. A brokerage churning complaint is one of the strongest cases an investor can bring, precisely because the evidence lives inside the broker’s own records.
Here are the steps to file a complaint against a stock broker for unauthorised trading and excess brokerage:
- File a Complaint with the Broker’s Compliance Officer: Submit a detailed written complaint covering every violation clearly. Name the unsolicited trade calls, the profit-sharing pitch, the WhatsApp-only contact, the deleted chats, and the brokerage charged against your capital. Be specific and violation-wise.
- File a Complaint on SCORES: If the broker does not resolve the matter within 21 days, escalate to SEBI’s SCORES grievance platform.
- Register a Complaint on SMART ODR: If SCORES does not produce a resolution, move to the SMART ODR platform for mediation and conciliation.
- Stock Market Arbitration: If mediation fails, take the dispute to arbitration before an independent panel for a binding decision.
Save everything now: WhatsApp call logs, any screenshots before they were deleted, the contract notes, and the ledger showing that brokerage figure. The numbers are sitting inside the broker’s own statements. That is the case.
Every document you save strengthens the brokerage churning complaint and makes the pattern harder for the broker to deny.
The lesson Rajeev learned the hard way: when a trusted voice is placing your trades and will not let you exit, the person making money is rarely you.
Need Help?
Someone called you every day for months. Built your trust with demo trades. Then placed order after order on your capital while telling you to hold or claiming recovery again and again.
By the time it was over, two-thirds of your money had gone to brokerage, not the market.
Don’t worry. Register with us and we will take it from here.
Our team will identify the violations, build the case, and guide you through every step, from the complaint to SCORES, SMART ODR, and arbitration if needed.
Reach out today. The sooner you start, the stronger your case.
Frequently Asked Questions
1. Is heavy brokerage on a small account actually a violation?
When the trading pattern exists mainly to generate commission rather than returns, yes, that is churning, and your contract notes and ledger are the proof.
2. The rep only spoke on WhatsApp and deleted the chats. Do I still have a case?
Yes. Call logs, screenshots saved before deletion, and the broker’s own trade and brokerage records carry the weight. The deletion itself signals intent.
3. Can I complain against the broker if it was a sub-broker who did this?
Yes. The registered broker is responsible for the people acting under its name.
