They showed profit screenshots. They looked convincing. First, +₹68,195 appeared. Then, +₹1,01,866 followed. The numbers and the trades looked real, and the proof appeared strong.
So you subscribed to the RA services. Maybe ₹12,500 for a month. Maybe ₹75,000. Or the full ₹1,51,000 Platinum Plan.
You followed the calls. You waited for those results. They never came.
And when you asked about a refund, the reply pointed to one clause: “All sales are final. No refunds.”
But here is what they did not mention. Their own website carries a second clause. One that says you are eligible for a pro-rata refund on the unused subscription period, as per SEBI guidelines.
Both clauses cannot apply at the same time. And under SEBI’s rules, only one of them is compliant.
Their own website has what you need.
How to File a Complaint Against Stockvix?
The process builds in stages. Each one strengthens the next.
Follow this order precisely:
Step 1: Lock Down Your Evidence Before Anything Else
Screenshot the Stockvix refund page right now, both clauses, together, on the same screen. Download your payment receipt and subscription invoice.
Save every WhatsApp message and email communication you received from them.
Screenshot every marketing claim that influenced your subscription decision, including the P&L screenshots and the address listing that mentions SEBI Bhavan.
Evidence changes. Websites update. Take every screenshot today before anything disappears.
Step 2: Calculate Your Exact Refund Claim Amount
Identify the plan you subscribed to and your subscription start date. Count the unused months remaining.
Divide your total fee by 12 for the monthly rate. Multiply by the unused months.
Write that number clearly. It appears in every complaint and every escalation that follows.
Step 3: Send a Formal Written Complaint to Stockvix
Write an email to Stockvix’s grievance officer directly. Not a call. Not an informal WhatsApp. An email, formal, on record, with everything stated specifically.
Name the exact plan, the exact amount paid, and the payment date. Quote both refund clauses from their own website. Ask them to confirm in writing which clause applies and on what basis.
State your exact claim amount. Give them 15 business days to respond.
Keep every reply. Document every silence. Both become evidence in the next stage.
Step 4: File a Complaint in SEBI SCORES
If Stockvix does not resolve the matter, go immediately to SEBI’s SCORES portal.
Register using your PAN. Select “Research Analyst” as the intermediary type. Enter registration number INH000022473.
Describe the issue precisely: the contradictory refund policy, the selective marketing claims, the specific refund denial.
Attach every supporting document: payment proof, both refund policy clauses, your calculated claim amount, and all communications.
SEBI SCORES creates a formal regulatory record under your name. This is the step that carries real regulatory weight. Do not skip it or delay it.
Step 5: Register a Complaint with SMART ODR
If SCORES does not deliver a satisfactory resolution, move to SEBI’s SMART ODR platform.
SMART ODR handles monetary disputes between investors and registered intermediaries directly. Begin with online conciliation, a regulator-supervised mediation process.
If conciliation succeeds, you receive a binding resolution. If it does not, the door to arbitration opens immediately.
Step 6: Pursue Arbitration Through BSE
Stockvix carries BSE enlistment number 6737. That makes BSE the directly applicable arbitration route for your case.
An independent arbitrator reviews all evidence and issues a binding decision. Bring your complete complaint trail: the SCORES reference number, your SMART ODR proceedings, your original evidence package.
Cases involving documented refund denials backed by contradictory policy clauses carry genuine weight at share market arbitration.
The Real Red Flags Hidden on Stockvix Website
Stockvix holds a valid SEBI Research Analyst registration and presents SEBI registration, NISM certification, and BSE enlistment as evidence of credibility.
On paper, it is officially registered under Javed Nasim Shaikh Research Analyst (Registration No. INH000022473), which makes it look entirely legitimate at first glance.
Many retail investors see these credentials and stop asking, is Stockvix safe? But if you read Stockvix’s own published materials carefully, not selectively, specific things emerge.
Here is what their own website actually shows:
1. Two Conflicting Refund Clauses Sit on the Same Page
- Clause one: all sales are final, no refunds under any circumstances.
- Clause two: clients are eligible for a pro-rata refund on the unused subscription period, as per SEBI guidelines.
Both sit on the same refund page. Both cannot apply simultaneously.
When Stockvix denied your refund using only clause one while clause two also exists, they selectively ignored a provision their own website carries. That is not a policy decision. That is a documented complaint ground with evidence already in your possession.
2. They Charge the SEBI Maximum Ceiling Without a Verifiable Track Record
The Platinum Plan costs ₹1,51,000 per year. Not approximately. Exactly ₹1,51,000, the precise ceiling SEBI allows a Research Analyst to charge per family per annum.
At that price point, a subscriber reasonably expects a time-stamped, publicly available record of every call ever made. Stockvix provides no such record.
Their website uses “data-backed” and “research-driven” repeatedly. But no verifiable data sits behind either term.
3. The Profit Screenshots Showed Only the Winning Side
Stockvix’s marketing displays figures like +₹68,195 and +₹1,01,866. These are presented as proof of performance.
However, the screenshots display only winning trades. They exclude losing calls. Moreover, they do not show full call history. Therefore, the complete hit rate is missing.
SEBI’s Advertisement Circular for Research Analysts restricts promotional claims that create a misleading impression of profitability. Showing wins while hiding losses creates exactly that impression, and it influenced your subscription decision.
4. “SEBI Bhavan” Appeared in Their Address Details
SEBI Bhavan is the headquarters of the Securities and Exchange Board of India. The regulator itself. No private firm operates from there. No private firm can.
Yet Stockvix listed “SEBI Bhavan” alongside their company details on the website.
That listing creates a direct false impression of institutional connection with the regulator
Any retail investor reading that detail would feel reassured. That reassurance had no factual basis behind it.
Struggling to Get Your Stockvix Refund? Let Us Help You Fight Back
Many Stockvix users face a similar issue after subscribing. They see refund terms, calculate eligibility, and keep payment proofs. However, they still struggle to convert evidence into a strong legal complaint.
We bridge that gap with a structured process.
Here is how it works:
- First, you share your case details: We review your plan, payment, denial reason, and documents.
- Next, we assess legal standing: We match facts with SEBI rules for Research Analysts.
- Then, we define your claim: We explain applicable clauses and refund value clearly.
- After that, we prepare the complaint: We use regulation-based language and precise refund calculations.
- Then we file in sequence: We submit on SEBI SCORES first, then SMART ODR, and arbitration if required.
Finally, we guide the process end-to-end. So, you follow a clear recovery path with proper legal structure.
Reach out to us today.
Conclusion
You paid for research at the highest SEBI-approved fee. Then, you saw “SEBI Bhavan” in the address and felt reassured. However, you trusted profit screenshots that showed only partial results.
And when you asked for your money back, they handed you one clause while hiding the other, a clause that SEBI itself mandates in your favour.
That contradictory refund page is not a website error. It is documented proof that Stockvix maintains a SEBI-compliant provision they selectively choose not to apply, unless you formally force them to.
SCORES, SMART ODR, and BSE arbitration are real mechanisms. Registered Research Analysts must respond to them. The complaint path does not just exist in theory. It has delivered outcomes for investors in situations exactly like yours.
The refund clause is already on their website. The complaint process exists specifically for this. Start now.
Disclaimer: This content is for informational and awareness purposes only. It does not constitute legal or financial advice. Recovery outcomes depend on individual case details, evidence quality, and applicable regulations. Past outcomes do not guarantee future results.
Frequently Asked Questions
1. Stockvix denied my refund using their “all sales are final” clause. Is that legally valid when their website also carries a pro-rata refund clause?
No. SEBI’s framework for registered Research Analysts requires that clients receive a pro-rata refund on unused subscription months upon cancellation.
Stockvix’s own refund page includes a clause acknowledging this SEBI-mandated protection.
When they deny your refund by applying only the “no refund” clause while a SEBI-compliant clause also exists on the same page, that selective application is a specific, documentable complaint ground.
File with Stockvix’s grievance officer first, then escalate to SEBI SCORES with both clauses screenshotted and your pro-rata calculation attached.
2. I subscribed to the ₹1,51,000 Platinum Plan and want to calculate my refund. How do I arrive at the correct amount?
Divide ₹1,51,000 by 12. That gives you approximately ₹12,583 as the monthly equivalent. Count the exact number of unused subscription months remaining from today.
Multiply those two numbers. The result is your pro-rata refund claim amount under the SEBI-compliant clause on their own website.
State this exact figure in every formal complaint you file, with your subscription start date and payment proof attached.
3. Stockvix’s website listed “SEBI Bhavan” in their address. Is that a valid ground for complaint?
Yes. SEBI Bhavan is the headquarters of the Securities and Exchange Board of India. No private firm operates from there.
Listing that address alongside company details, even without intent, creates a false impression of institutional association with the regulator.
If that detail influenced your decision to subscribe, it constitutes evidence of misleading representation. Screenshot it immediately. Include it in your SEBI SCORES filing as a specific, documented concern.
4. The profit screenshots they used in marketing showed only winning trades. Can I formally challenge that?
Yes. SEBI’s Advertisement Circular for Research Analysts restricts promotional material that creates a misleading impression of profitability or performance.
Displaying only profitable trade results while omitting losses, overall accuracy, or a complete call history creates exactly that misleading impression.
Screenshot every such marketing material immediately before it is updated or removed. Include it in your formal complaint as potential evidence of an Advertisement Circular violation.
5. How do I file a SEBI SCORES complaint specifically against Stockvix?
Go to the SEBI SCORES portal. Register using your PAN. Select “Research Analyst” as the intermediary type. Enter Stockvix’s SEBI registration number INH000022473.
Describe your issue precisely: the contradictory refund policy, the selective clause application, the marketing claims, or the misleading address.
Attach your payment receipt, subscription invoice, screenshots of both refund clauses, your pro-rata calculation, and all communication records.
Record your complaint reference number immediately. You will need it for every subsequent escalation through SMART ODR and BSE arbitration.
