Vikram (name changed) joined a SEBI-registered research analyst service in early 2025 and paid an initial fee of ₹1,20,000 for a six-month package under one entity. When the six months ended, the same representatives contacted him again, this time under a different firm name with its own separate SEBI registration. He was told the new […]
Harpreet (name changed) joined an algo trading plan in mid 2025, paying in stages as he moved through starter and upgraded tiers of the service, totalling ₹70,000 over several months. For the first stretch of the relationship, automated signals arrived as promised, timed to specific stocks and quantities, delivered through the app the firm had
Neha (name changed) was approached in late 2024 by a SEBI-registered research analyst offering a premium package with an unusually attractive promise: a fixed three percent monthly return. The guarantee was printed clearly in the sales brochure handed to her during an in-person meeting. She paid ₹1,50,000 to join the highest tier. For Neha, the
Devendra (name changed) first came across the firm through a paid social media campaign claiming the service was fully SEBI-compliant. Its website and brochures prominently displayed a registration number, making the firm appear legitimate. Trusting those claims, Devendra paid fees in several instalments under different scheme names. By the end, he had paid ₹3,11,000. Then
Ritu (name changed) signed an annual agreement with a SEBI-registered investment adviser in mid 2024 for a fixed fee of ₹3,50,000, covering portfolio strategy calls and quarterly reviews for the full year. Five months into the contract, the adviser informed her that the fee was being revised upward due to what they called increased market
Farah (name changed) came to us after paying ₹1,58,000 for what she believed was automated algorithmic trading software. The pitch sounded convincing. During the sales demo, the firm ran two trades that appeared to be placed by the algo, both of which made profits. They also showed past performance figures to build confidence. Farah paid
Manoj (name changed) thought he had found a simple deal: free daily trading calls with no advisory fee. The only condition? He had to open his trading account through a specific referral link. He followed the instructions and started taking the calls. Over the next five months, the recommendations became increasingly frequent, with quick entries
Om Prakash (name changed) was contacted by a small advisory operation in early 2025 offering a starter package for a modest fee, positioned as a low-commitment way to try their trading calls. Over the following two months, he was moved through a series of small upgrades, each with its own package name like: Starter Plus
Kavita (name changed) came to us after a well-known SEBI-registered investment adviser failed to honour a promise it had put in writing. During the sales call, the adviser strongly emphasised flexibility. Kavita then signed an agreement that gave her a clear 90-day exit window with a 50% refund on unused fees. She paid ₹4,73,000 for
Rakesh (name changed) deposited ₹1,00,000 with his advisory firm in January 2026. Soon after, he received an invoice for ₹12,500, an amount that appeared proportionate to his investment. Then he increased his capital. The very next day, a new invoice landed: ₹62,500. That was five times the earlier fee, with no clear explanation except a
Deepak (name changed) signed up with a research analyst firm after attending a webinar in late 2024. During onboarding, he was given a UPI ID and bank account number for payment. Both, however, were held in an individual’s name, not the firm’s. Over the next four months, Deepak made three instalment payments totalling ₹3,00,000. Each
Sunita (name changed) had been working with an advisory firm for several months, following recommended positions and adjusting them based on regular calls from her assigned adviser. In the middle of a set of open positions, the calls stopped. Her adviser did not answer, the office number went unreachable, and no one from the firm
