Quick Summary
Wealth Trade Research holds SEBI Research Analyst registration INH000013165 under proprietor Arpit Kothari. The formal complaint path runs through four stages. Written complaint to the firm first, then SEBI SCORES with registration number INH000013165, then SMART ODR, then arbitration if needed. Guaranteed return promises, recommendations without stop-loss, personal WhatsApp communication from representatives, and pressure to add funds after losses are all specific SEBI violations that strengthen your complaint. The process is free at every stage. For claims below Rs. 10 lakh, arbitration costs you nothing.
A documented case involving Wealth Trade Research representatives shows an investor losing approximately Rs. 1 lakh after being promised guaranteed returns, receiving recommendations without any stop-loss, and being pressured through personal WhatsApp to deposit more funds.
If that pattern sounds familiar, you are reading the right page.
Wealth Trade Research holds SEBI Research Analyst registration INH000013165. That registration means the firm is subject to SEBI’s regulatory complaint mechanism, and you have a clear formal path available to you.
This page covers the exact complaint process from your first formal contact with the firm all the way through arbitration if it comes to that.
What Qualifies as a Valid Complaint Against Wealth Trade Research
Not every investment loss gives you a complaint ground. But several situations that have appeared in documented cases and user accounts involving this firm map directly to specific SEBI violations.
These are the situations that give you regulatory standing to file.
1. Guaranteed Return Promises
If any representative of Wealth Trade Research told you that you would earn a fixed return, a specific monthly income, or that losses would be recovered through future calls, that is a direct violation of SEBI Research Analyst Regulations.
No registered Research Analyst can guarantee any return of any kind. The firm’s own website carries a disclaimer to this effect. A representative making this promise is violating the regulation that their SEBI registration requires them to follow.
2. Recommendations Without Stop-loss or Risk Parameters
SEBI’s Code of Conduct requires research recommendations to be accompanied by risk parameters.
A call that gives you a stock to buy without specifying a stop-loss or exit level is not compliant research advice. In the documented case involving this firm, recommendations were given without stop-loss strategies on any trade.
3. Personal WhatsApp Communication and Fund Pressure
SEBI requires registered entities to communicate through official channels. Communication from a representative’s personal WhatsApp number, particularly combined with repeated pressure to deposit more funds after losses, is a specific conduct concern.
The firm’s own website warns clients not to make payments to personal accounts. If a representative directed you to transfer money through any channel other than the firm’s official bank account, that is a red flag worth including in your complaint.
4. Recommendations Without Risk Profiling
SEBI requires Research Analysts to have a risk profiling process.
If you were sold a service without any assessment of your financial situation, investment experience, or risk capacity, that is a suitability gap that strengthens a formal complaint.
Also Read: Another advisory firm facing similar investor feedback is Streetgains. If you want to know how to complain against Streetgains, check out our complete breakdown.
Got An Issue? Here’s How to File The Complaint
The red flags tell you something is wrong. This section tells you exactly what to do next.
SEBI has a defined sequence for these situations, and skipping steps weakens your case. Follow the order below, and each step builds evidence for the next.
Step 1: Collect Your Evidence First
This step happens before any contact with anyone. Everything you collect now is what your case rests on at every subsequent stage.
Save this evidence before anything:
- Every WhatsApp message from any representative of Wealth Trade Research, whether from the firm’s official numbers or from personal numbers used by representatives. Note the phone number each message came from.
- All payment receipts, bank transfer records, and UPI transaction screenshots. The firm instructs clients to pay only to official company accounts. If you paid to any other account, that transfer record is critical evidence.
- Every trade call you received, including the stock name, the suggested entry level, whether a stop-loss was given, and the outcome. If calls were given without stop-loss levels, note each one specifically.
- Any message or recording where guaranteed returns or loss recovery was promised. Write down the exact words used and the date.
- Your original subscription agreement if one was provided and any pricing information you were given before paying.
Write a one-page chronological account of everything that happened with dates and amounts at each step.
Step 2: Write to Wealth Trade Research Formally
SEBI requires investors to attempt internal resolution before escalating to SEBI SCORES. A written complaint creates the paper trail SEBI will ask about when you file.
Send your complaint to the firm’s official contact. The firm’s website lists a contact page. If an email address is available, use that.
If only a phone number is available, follow up any phone call with a written summary on WhatsApp or SMS to the same number, clearly stating that you are raising a formal complaint and require a written response.
State what you paid, on what dates, for which services, and what was promised before you paid. State what you actually received. Name any specific regulatory violation if you can. State the resolution you are seeking.
Give the firm 21 days to respond with a satisfactory written resolution. If no response arrives or the response does not address your specific concerns, move to Step 3 immediately.
Step 3: File on SEBI SCORES
If 21 days pass without a satisfactory response, file on SEBI SCORES.
Select Research Analyst as the intermediary type. Enter INH000013165 as the registration number. In the complaint description, name the specific violation that applies to you.
- For guaranteed return promises, cite the SEBI Research Analyst Regulations prohibition on assured return claims.
- For recommendations without stop-loss, cite SEBI Code of Conduct requirements for risk parameters.
- For personal account payment instructions, cite SEBI requirements for official account collections.
- For no risk profiling, cite SEBI suitability requirements.
Attach your payment records, WhatsApp messages, trade call records, and any promised return communication.
Filing on SEBI SCORES is completely free. Wealth Trade Research has 21 days to respond formally after the complaint is forwarded. Non-response is itself a compliance failure that strengthens your escalation.
Step 4: Escalate to SMART ODR
If SCORES does not produce a satisfactory resolution, SMART ODR is the next stage.
One rule before filing here is critical. Do not file on SMART ODR while your SCORES complaint is still active. Filing on SMART ODR automatically disposes the SCORES complaint. Confirm SCORES has genuinely concluded before moving here.
An independent conciliator is assigned. Both you and Wealth Trade Research must participate. Pre-conciliation runs first. Formal conciliation follows if pre-conciliation produces no settlement.
The complete guide covering how SMART ODR Conciliation works, what documents to submit, and what happens at each stage is available on this site.
Step 5: Arbitration
If SMART ODR conciliation fails, formal arbitration produces a binding award enforceable as a civil court decree under the Arbitration and Conciliation Act 1996.
For claims below Rs. 10 lakh, the exchange bears the arbitration cost. You pay nothing.
Outcomes depend entirely on documentation. The investor with clear records of guaranteed return promises, trade calls without stop-loss parameters, and pressure communications is in a far stronger position than one who relied on verbal conversations with no written trail.
The documented case involving this firm that resulted in a Rs. 1 lakh recovery effort went through exactly this path. Strong documentation was what made the case.
Not sure your documentation is strong enough to hold up through SCORES and SMART ODR?
We review your evidence, identify every applicable SEBI violation, draft the SEBI SCORES complaint, and represent you through SMART ODR and arbitration. Register with us for a free consultation.
Conclusion
Wealth Trade Research holds SEBI registration INH000013165. That registration gives you access to a formal complaint mechanism designed specifically for situations like the ones documented involving this firm.
Guaranteed return promises, no stop-loss on recommendations, personal WhatsApp fund pressure, and no risk profiling are all named SEBI violations. Each one gives you a specific complaint ground with regulatory teeth behind it.
Collect your evidence. File formally. Follow the sequence. For claims below Rs. 10 lakh, every stage up to and including arbitration costs you nothing.
For the full analysis of the firm’s six website inconsistencies and what they mean before subscribing, the Wealth Trade Research review page covers everything.
Report. Recover. Stay Fraud Free.
Frequently Asked Questions
Wealth Trade Research holds SEBI Research Analyst registration INH000013165 under proprietor Arpit Kothari, registered in October 2023 from a Mumbai address. Verify the current status at SEBI's website under Research Analyst intermediaries.
No. SEBI Research Analyst Regulations explicitly prohibit guaranteed return promises of any kind. The firm's own website carries a disclaimer to this effect. Any representative who made a guaranteed return promise to you was violating the regulation that their employer's SEBI registration requires them to follow, and that violation is a complaint ground.
Recommendations without risk parameters including stop-loss levels conflict with SEBI's Code of Conduct requirement for responsible and complete research advice. Document each call you received without a stop-loss, note the date and the stock, and include this in your SEBI SCORES complaint description.
Yes. Filing an internal complaint with the firm, filing on SEBI SCORES, and SMART ODR conciliation are all completely free. For arbitration through NSE or BSE, claims below Rs. 10 lakh cost the investor nothing as the exchange bears the fee.
Give them 21 days from your written complaint. If no satisfactory response arrives, file on SEBI SCORES under Research Analyst using registration number INH000013165. Non-response to a formal complaint is itself grounds for escalation and strengthens your SCORES filing considerably.
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