Every day, many retail traders ask the same question: can you trust Love Sharma trading advice?
In a market filled with Telegram channels, trading influencers, and “expert” stock calls, many traders naturally feel more confident when someone appears qualified, experienced, and SEBI-registered.
That is exactly why Love Sharma Trader and his brand Trade With Love (TWL) have gained significant attention across Instagram, Telegram, YouTube, and Twitter.
In this blog, we examine Love Sharma’s SEBI registration, the issues and concerns linked to his platforms and the key things traders should understand before making any financial decision.
Can You Trust Love Sharma Trading Advice or Not?
Love Sharma is the proprietor of Amaradarsh Research and Analytics.
He holds a Chartered Accountant qualification. He conducts live trading sessions, runs subscription batches, and operates through a dedicated app.
Love Sharma operates under the brand Trade With Love (TWL) and is based in Delhi.
Now, the first question that naturally comes up: is Love Sharma SEBI registered?
Yes, he is. And that registration is legitimate.
Love Sharma registered with SEBI as a Research Analyst under registration number INH000011893.
But here is the thing most traders miss: SEBI registration confirms that an entity exists within the regulatory framework.
It does not confirm that the entity is actually following every rule within that framework.
SEBI guidelines for Research analyst come with very specific requirements.
No guaranteed return promises, transparent fee structures, clear risk disclosures, no promotion of unauthorized financial products, and no conflict of interest without disclosure.
So deciding whether you can trust Love Sharma’s trading advice requires looking at three things carefully: his platform conduct, documented complaints, and the formal arbitration record.
In Love Sharma’s case, multiple violations have been documented, and one formal arbitration settlement is on record.
Let’s break down each violation.
SEBI Violations by Love Sharma
Before trusting any advisory service, it is important to know whether the person running it is actually playing by the rules.
In Love Sharma’s case, the evidence from his platforms and the arbitration settlement documents paints a clear picture.
Here are the violations documented across his channels and formally recorded in legal proceedings:
1. Promising Guaranteed Returns
SEBI Regulation 24(1) is unambiguous: no Research Analyst can promise, imply, or assure returns from market-linked trades.
The stock market is inherently uncertain, and any communication suggesting otherwise is a direct regulatory violation.
Love Sharma’s Telegram channel carried messages like “900 mein 9000 kamao with 2 lots”, a direct claim that a small amount would produce a specific, predictable return through a specific number of lots.
This is problematic on two levels. First, it implies a guaranteed outcome from a market trade.
Second, specifying the exact number of lots (“2 lots”) crosses into personalised investment advice, which requires a separate SEBI Investment Adviser (IA) registration that Love Sharma does not hold.
2. Undisclosed Commission from Dhan
Love Sharma consistently recommended Dhan (Moneylicious Securities) as the preferred demat platform for his subscribers and directed them to open accounts there.
What was not disclosed: Love Sharma was an authorised person with Dhan and earned a 30% commission on every client referral.
During arbitration, this was directly addressed.
The settlement records state: “The RA acknowledged this and revealed he earns a 30% commission from DHAN as their authorised person, admitting a potential conflict of interest but claiming
Here, one important question can come up in the mind of investors- can research analysts refer broker platforms to their clients?
SEBI regulations require full, transparent disclosure of any financial interest when an analyst recommends a broker to subscribers.
Recommending a platform while earning commissions from it, without upfront disclosure, is a textbook conflict of interest violation under SEBI RA regulations.
3. Wrong SEBI Registration Number on the TWL App
The TWL Community app, through which subscription plans were sold to traders, displayed an incorrect SEBI registration number.
During the arbitration proceedings, Love Sharma acknowledged this and described it as a one-digit typing error.
The settlement documents record: “The RA admitted this was a one-digit error, not intentional.”
Intentional or not, a registration number is the most fundamental piece of regulatory identification.
Any inaccuracy in this information, however it is explained, undermines a subscriber’s ability to verify the entity they are paying and creates a serious compliance concern.
4. Using the TWL App to Sell Subscriptions
The arbitration settlement documents specifically record that using the TWL app to sell subscription plans allegedly breached Section 24.1 of the SEBI RA Regulations Act 2014.
Section 24.1 governs the manner in which Research Analysts can distribute services and collect fees.
Running a dedicated commercial app with multiple subscription tiers, bundled products, and internal incentive systems raises questions about whether the distribution model remains within what SEBI permits for registered Research Analysts.
This concern was formally documented and recorded in the settlement.
5. TWL Coins: Virtual Currency Without Regulatory Clarity
Love Sharma’s platform introduced an internal virtual credit system called TWL Coins, which subscribers could earn and use within the TWL ecosystem.
SEBI regulations require that fee structures be transparent, straightforward, and clearly understood by subscribers.
Introducing a proprietary virtual currency creates pricing opacity and may incentivise users to remain on the platform or spend beyond their original intent.
The settlement documents identify this as a concern under Regulation 15A (Fees) and Regulation 24(6), which require transparent and regulated fee structures for all registered entities.
6. Selective Profit Screenshots: Misleading Performance Display
The TWL app and Love Sharma Trader Instagram profile regularly showcased profit screenshots from students and subscribers.
Only successful outcomes were displayed and amplified, with no corresponding data on losses, failed calls, or overall performance accuracy.
Presenting only wins, while concealing the losses that inevitably accompany trading, distorts the performance picture and misleads new subscribers about what they can realistically expect.
7. Advising Followers to Leave Their Jobs
Multiple documented instances indicate that Love Sharma’s content encouraged followers to view regular employment as wasteful and instead commit fully to trading, specifically through his subscription services.
SEBI’s Code of Conduct under Regulation 24(2) requires professional responsibility and integrity in all subscriber-facing communications.
Pushing retail traders, many of them beginners with no professional trading background, to abandon stable income for market speculation, while simultaneously selling them a subscription, is irresponsible.
It exploits the financial aspirations of ordinary people and directly contradicts the ethical standards expected of a SEBI-registered entity.
Love Sharma Arbitration
Documented platform violations are one thing. When concerns reach formal arbitration, they become part of a legal record.
In Love Sharma’s case, a formal arbitration was initiated under Case No. MSE-RA-2024-12-494386. The proceedings were conducted with Mr. Prit Pal Singh as Conciliator, and a Settlement Agreement was executed on 22 January 2025.
The complainant, represented by Aseem Juneja, enrolled in the TWL membership on 29 August 2024 by paying ₹7,200 (including GST), specifically to document violations as a whistleblower.
Following enrollment, the trades resulted in substantial losses of approximately ₹3,10,000. Communication became inconsistent, refund requests were not addressed, and no structured resolution was offered.
The matter was resolved through conciliation. Love Sharma agreed to provide an undertaking to comply with SEBI Master Circular SEBI/HO/MIRSD-PoD-2/P/CIR/2023/90 and upload that undertaking on the ODR portal.
Key Findings Recorded in the Settlement
- SEBI observed that Love Sharma’s advertisements and social media promotions breached multiple provisions of the SEBI Master Circular, including issues related to exaggerated profit representations, inadequate disclaimers, and misleading promotional content.
- The subscription structure used in the TWL app was found to be inconsistent with Section 24.1 of the SEBI Research Analyst Regulations, 2014.
- The revenue-sharing arrangement linked with Dhan was identified as a potential conflict of interest, with no evidence of specific SEBI approval being presented.
- It was also acknowledged that an incorrect SEBI registration number had been displayed on the application.
- SEBI documented and recorded the promotion of Exness, a forex trading platform that has previously been flagged by the RBI.
- During the proceedings, Love Sharma accepted the identified lapses and admitted to the regulatory violations.
How To File A Complaint Against Research Analyst?
If you’ve experienced problems with Love Sharma, Amaradarsh Research and Analytics, or any similar stock market advisory platform, there are official mechanisms available to raise and pursue your complaint.
Here’s the process you can follow:
Step 1: Collect and Preserve Evidence
Start by organizing all relevant records, including payment proofs, invoices, subscription details, WhatsApp or Telegram chats, advertisements, promises made during sales calls, and any other communication.
Well-documented evidence significantly strengthens your case.
Step 2: Raise the Issue with the Company
Send a formal written complaint to the advisor or customer support team explaining your issue clearly. Mention the resolution you expect and attach supporting documents wherever possible.
Make sure to save copies of your email and any replies received.
Step 3: Submit a Complaint in SCORES
If the issue is not resolved properly, file a complaint through SEBI’s SCORES platform. You’ll generally need details such as your PAN, the advisor’s SEBI registration number, a summary of the grievance, and supporting evidence.
Once submitted, the entity is expected to respond within the prescribed timeline.
Step 4: Lodge an Issue in SMART ODR
If you are dissatisfied with the SCORES response, you can escalate the matter through SEBI’s SMART ODR (Online Dispute Resolution) system.
This platform is designed to handle investor disputes through a more structured and time-bound process.
Step 5: Proceed with Stock Market Arbitration
In cases involving major financial loss or unresolved disputes, arbitration can be pursued.
This is a formal dispute-resolution mechanism where evidence, communication records, and regulatory compliance are examined before a decision is made.
Need Help?
Handling a complaint against a SEBI-registered firm can be overwhelming, particularly when you are facing financial losses and struggling to get clear responses.
You don’t need to manage the process on your own.
Register with us, and our team will help you at every stage, from reviewing documents and arranging evidence to filing complaints on SCORES and assisting with arbitration proceedings if required.
We aim to make the process clearer, smoother, and easier to navigate.
Every investor complaint also helps strengthen accountability within the financial system. Your voice and experience are important.
Conclusion
Trust in the world of financial advisory cannot be built on a registration number, a follower count, or profit screenshots shared on Instagram.
The evidence surrounding Love Sharma TWL app review, and the ecosystem raises several concerns that traders should carefully examine before making financial decisions.
These concerns include the use of guaranteed return language, promotions linked to RBI-flagged platforms, allegations of undisclosed broker commissions, and questions around the app registration details being presented to users.
A SEBI license is a starting point for due diligence. Never a reason to skip it.
Before subscribing to any advisory service, verify the entity independently, check SCORES for complaint history, question any promise of certainty, and make decisions based on evidence, not enthusiasm.
The traders who protect their capital best are not the ones who found the perfect advisor. They are the ones who never stopped asking the right questions.
