If you have ever considered trading or are already active in the markets, you know how important it is to choose the right broker.
During your research, you likely came across several brokerage firms and trading apps. One of the names that often appears on that list is Choice Broking.
Choice Broking is a full-service brokerage firm offering trading services in equities, derivatives, commodities, and currencies, along with investment products such as mutual funds and IPOs.
As a registered intermediary, the company operates under the regulatory framework of the Securities and Exchange Board of India (SEBI) and is connected to major stock exchanges.
While many client relationships function smoothly, disputes can sometimes arise in any brokerage environment.
One of the more serious concerns that may surface in such situations is unauthorised trading, where trades are executed in a client’s account without their explicit consent or knowledge.
Understanding how such issues occur and how they are addressed is crucial for every investor.
Choice Broking Unauthorised Trading Complaints
Unauthorised trading refers to situations where transactions are executed in a client’s account without clear and informed permission.
It may also involve taking positions that are larger or riskier than what the investor had agreed to.
In accounts maintained with brokers such as Choice Broking, red flags may include trades appearing without prior confirmation, unexpected exposure in derivative segments, or rapid buying and selling that was never clearly discussed.
Sometimes investors realise the issue only after reviewing their contract notes or noticing sudden losses.
To better understand the pattern of complaints and the proportion related to unauthorised trading, it is helpful to examine the year-wise data.
Complaint Data
The table below provides a summary of total complaints received over the past five financial years, the number of complaints specifically related to unauthorised trading, and the corresponding percentage share of such complaints.
Summary table: overall Complaints, unauthorised trading complaints, % of unauthorised trading
| Year | No. of complaints | No. of complaints for unauthorised trading | Percentage of unauthorised trading |
| 2021-22 | 57 | 18 | 31.57% |
| 2022-23 | 116 | 50 | 43.10% |
| 2023-24 | 144 | 41 | 28.47% |
| 2024-25 | 267 | 100 | 37.45% |
| 2025-26 | 265 | 121 | 45.66% |
From Choice Broking complaints data, it is evident that the total number of complaints has increased significantly over the years, with a notable rise in 2024–25 and 2025–26.
At the same time, complaints related to unauthorised trading form a substantial portion of overall grievances.
The percentage of unauthorised trading complaints fluctuates year to year, reaching its highest level in 2025–26 at 45.66%.
This indicates that nearly half of the complaints in that period were related to alleged unauthorised transactions.
Such trends highlight the importance of strong compliance mechanisms, transparent communication, and vigilant account monitoring.
For investors, regularly reviewing contract notes, trade confirmations, and account statements remains essential to safeguard against potential unauthorised activity.
When Can Action Be Taken Against a Broker?
Action against a broker can be considered when there is evidence that trades were executed without clear client consent or beyond the scope of authority granted by the client.
Such situations may arise when transactions appear in the trading account that the investor does not recall authorising or approving. Like the following:
- Trades were executed without the client’s clear approval
- The broker cannot provide order logs, call recordings, or trade confirmations
- Trades were placed beyond the client’s agreed instructions or risk level
- Regulatory requirements, such as contract notes or proper records, were not maintained
These records help determine whether the broker acted within the instructions provided by the client or exceeded their authorised scope.
Ultimately, whether action is taken depends on the strength and reliability of the documented evidence.
The findings are based on a careful review of available records to determine if there has been a breach of applicable rules or investor protection norms.
How to File A Complaint Against a Stock Broker?
If you suspect unauthorised trades or any form of misconduct in your account, begin by staying composed and organising your documents.
Not every loss is a regulatory issue, as markets naturally fluctuate.
However, if transactions were carried out without your knowledge or proper risk disclosure, it is important to act promptly and follow the proper grievance redressal process.
1. Examine Your Trade Confirmations
Start by retrieving all trade confirmations and contract notes sent to your registered email. Verify details such as the execution date and time, quantity traded, order type, price, and brokerage charges.
These exchange-generated records are essential for determining whether the trades match the instructions you actually gave.
2. Analyse Margin and Account Statements
Carefully review your margin statements, ledger summaries, and transaction reports.
Look for sudden increases in exposure, frequent intraday trades, or charges that appear disproportionate to your investment size.
If the positions taken exceed what you remember authorising, the matter should be clarified immediately with the broker.
3. Preserve All Communication Records
Maintain copies of every communication related to your trading activity.
This includes emails, chat conversations, call logs, payment confirmations, and screenshots of your trading platform.
Such documentation can help establish whether proper consent was obtained and whether risks were adequately disclosed before executing the trades.
4. Submit a Formal Complaint to the Broker
Write a formal complaint to the broker’s designated grievance officer, clearly explaining the disputed transactions and your concerns.
Request supporting evidence such as order logs, call recordings, system-generated confirmations, and proof of authorisation.
Brokers are required to respond to client complaints and provide clarifications within a reasonable time frame.
5. File a Complaint through SCORES
If the broker’s response is unsatisfactory or delayed, you can complain the matter through SEBI SCORES, the official grievance portal of the Securities and Exchange Board of India.
This platform allows investors to submit complaints against market intermediaries and track the progress of the resolution process.
6. Use the SMART ODR Platform for Dispute Resolution
In cases where the issue remains unresolved after the initial complaint process, investors may complain through SMART ODR.
This platform enables online mediation or conciliation between the investor and the intermediary under the supervision of the stock exchange.
The goal is to resolve disputes in a structured and time-efficient manner without immediately moving to formal legal proceedings.
7. Arbitration through the Stock Exchange
If mediation does not lead to a satisfactory outcome, the dispute can be referred to arbitration under the rules of the relevant stock exchange.
Arbitration panels independently review documents such as contract notes, order logs, communication records, and payment trails.
Based on this evidence, the panel determines whether there has been a violation of regulatory requirements and may pass an award accordingly.
Need Help?
If you are unsure whether the activity in your account amounts to unauthorised trading or is simply the result of market volatility, you do not have to figure it out alone.
We can help you review your transaction history, examine contract notes, and assess whether proper consent and communication were followed.
Understanding this distinction is crucial before initiating any formal complaint or regulatory action.
Our team can assist you in:
- Analysing your trade statements and ledger entries
- Organising supporting documents and communication records
- Identifying potential instances of unauthorised execution
- Preparing a clear and structured representation of your concerns
- Tracking SEBI complaint status.
Taking prompt action and maintaining proper documentation significantly strengthens your position if the matter needs to be escalated.
If you believe trades were executed without your full knowledge or approval, reach out to us.
Timely guidance can help you protect your financial interests and take the appropriate next steps with confidence.
Conclusion
In modern trading environments, speed and digital execution have made transactions quicker than ever.
However, speed should never replace informed consent and transparency.
Unauthorised trading allegations are serious because they affect investor trust at its core.
Whether any specific instance amounts to regulatory non-compliance depends on a detailed examination of contract notes, system logs, and communication records.
For investors working with firms such as Choice Broking, the basic principle remains unchanged: stay informed, monitor your account regularly, and ensure that every trade reflects your clear and deliberate approval.
