Have you ever received a WhatsApp message from a trading platform promising that your losses will be recovered the very same day?
If you have, you already know exactly how convincing that message can feel. Especially when you are staring at a losing trade and someone is telling you, with complete confidence, that things will turn around.
This is the kind of promise that pulls traders in. And it is also the kind of promise that SEBI has very clearly said no registered research analyst is ever allowed to make.
Streetgains is a Bengaluru-based stock market research platform that has been in the news for precisely this reason.
The firm holds a valid SEBI registration, has over three lakh subscribers, and runs a structured advisory service.
But SEBI’s investigation uncovered a pattern of communications that crossed the line between research guidance and assured return promises.
So, does Streetgains guarantee returns?
That is the question every trader needs answered before spending a single rupee on their subscription.
In this blog, we cover exactly what SEBI found, what violations were recorded, what penalty was imposed, what real users have experienced, and what you can do if you have already been affected.
Does Streetgains Promise Guaranteed Returns?
Streetgains Technologies Private Limited is a SEBI-registered Research Analyst firm based in Bengaluru, operating under Registration No. INH000017082 since 2016.
The company offers trading recommendations through its app, WhatsApp, Telegram, SMS, and other platforms, covering intraday, swing trading, and options strategies.
On its official website, Streetgains clearly states that it does not guarantee returns and that all market recommendations carry risk. Their client policies also mention that no assured profits are promised.
However, SEBI’s investigation into the company’s activities between April 2022 and March 2024 reportedly found a gap between the written disclaimers and the actual communication made by sales representatives.
The investigation confirmed that the answer to “does Streetgains guarantee returns?” was not in the official documents, but yes, in the actual communication with clients.
And under SEBI’s rules, that is a serious violation.
Now, let us look at each violation one by one.
SEBI Violations by Streetgains
Several allegations and regulatory observations against Streetgains have raised important questions about compliance practices, investor communication, and the manner in which advisory services were promoted.
Violation 1: Promising Guaranteed Returns and Loss Recovery to Clients
This was the most central finding in SEBI’s investigation and the one most directly relevant to the question of whether Streetgains guarantees returns.
SEBI found that Streetgains’ sales executives were using WhatsApp messages to contact prospective and existing clients with promises that included statements like “you will get good returns,” “loss will be recovered the same day,” and specific daily profit projections.
These were not vague, general statements. They were explicit assurances that created a direct impression in the minds of clients that their money was safe and their losses could be recovered.
Under SEBI’s Research Analyst Regulations and the PFUTP (Prohibition of Fraudulent and Unfair Trade Practices) Regulations, a registered research analyst is strictly prohibited from assuring returns, promising loss recovery, or linking the perception of market outcomes to certainty.
Such communications qualify as inducement and mis-selling.
SEBI found that these messages amounted to violations under Regulations 3(a), (b), (c), (d), 4(1), 4(2)(k), (o), and (s) of the PFUTP Regulations and Sections 12A(a), (b), and (c) of the SEBI Act, 1992.
Violation 2: Showcasing Only Profitable Calls on Social Media
Every trader has seen those polished social media posts that show only green trades. Rows of winning calls, percentage gains, and target hits.
It all looks impressive. What you never see is the full picture.
SEBI found that Streetgains was regularly posting what it called “Top 5 Research Calls of the Day” on its official social media handle.
These posts highlighted only their most profitable recommendations, complete with ROI percentages and index option gains. No losing calls were shown.
No overall performance track record was shared. SEBI classified these posts as advertisements.
Under SEBI’s Advertisement Code for Research Analysts, specifically the circular dated April 2023 and the Master Circular dated May 2024, research analysts are prohibited from using past performance in marketing material in a way that could create misleading impressions about their overall track record.
By showing only winners, Streetgains was effectively painting a picture of consistent, high-accuracy performance that did not reflect the complete reality of their calls.
Violation 3: Sales Executives Incentivised to Push Products Without Suitability Checks
Behind every sales call from a trading advisory firm, there is often an incentive structure driving the pitch.
SEBI’s investigation found that Streetgains had set up a performance-based incentive model for its sales executives, rewarding them for achieving high subscription numbers.
The problem is straightforward. When a salesperson earns more by pushing a higher-tier subscription, they are incentivised to sell regardless of whether that product is actually right for the client.
And that is exactly what SEBI found happening.
In one notable instance that SEBI documented, a sales executive recommended index options to an elderly client and urged them to upgrade to a higher-priced plan for “earning good returns,” without any assessment of the client’s age, financial situation, or risk capacity.
Index options are among the highest-risk products available to retail traders. Recommending them to an elderly investor with no suitability assessment is a direct breach of SEBI’s investor protection framework.
SEBI’s August 2013 circular on mis-selling prevention explicitly prohibits recommending products that are unsuitable for a client’s profile.
Violation 4: Research Reports Lacked Depth and Were Not Digitally Signed
SEBI’s RA Regulations set clear standards for what constitutes a proper research report. Recommendations must be backed by a specific, documented research rationale that explains why a particular call is being made, not just a generic note.
SEBI found that Streetgains’ research recommendations, sent through SMS, WhatsApp, and its CRM platform, relied on generic, templated justifications such as “intraday price volume breakout.”
These vague phrases did not meet the level of specificity that SEBI expects from a registered research analyst’s documented research process.
Additionally, SEBI found that while research reports were maintained digitally, they were not digitally signed as required under Regulations 25(1)(i) and 25(2) of the RA Regulations.
Digital signing is a basic compliance requirement that ensures the authenticity and traceability of research records.
SEBI Penalty on Streetgains
After reviewing all the evidence across both proceedings, SEBI took the following actions against Streetgains Research Services:
- Adjudication Order (August 2024): A total monetary penalty of ₹8,00,000 (Rupees Eight Lakh) was imposed on Kumar Venkataramegowda Santhosh (Proprietor, Streetgains Research Services). This was broken into ₹5,00,000 for violations of the PFUTP Regulations and ₹3,00,000 for violations of the Research Analyst Regulations.
- Final Order (March 2026): SEBI issued a regulatory censure and prohibited Streetgains Research Services from onboarding any new clients for a period of one month from the date of the order.
SEBI chose a corrective approach, not a cancellation.
The regulator’s message was clear: the violations were serious enough for formal enforcement action, but the path to correction remained open, provided the firm aligned its actual practices with what its own disclaimers already say.
Streetgains Reviews
The SEBI order tells you what the regulator found. But the reviews below tell you what individual traders experienced on the ground.
These are some real reviews shared by users who have used Streetgains’ services.
1. 4 Out of 5 Free Calls Hit Stop Loss
Bhupender, writing in April 2022, described how he downloaded the Streetgains app after a friend’s recommendation and opted for index options.
Of the five free calls he received, four hit their stop losses.
His key warning was clear: the calls arrive after the price has already moved. He lost part of his capital on what the platform marketed as “5 Profitable Calls.”
2. Trial Calls Show Profit, Then Subscription Losses Begin
Arijeet Chaudhry described a pattern that many users have reported: initial trial calls that appear profitable, followed by a subscription experience where calls come with barely any time to enter, and the firm counts those as profit calls anyway.
His experience was that after subscribing, 80% of calls hit intraday stop losses. When he tried to reach out after losses, customer support stopped responding.
3. Only Profit Calls Shown in Telegram, Losses Hidden
Ram Prasad Aryal, a Local Guide with multiple reviews, pointed out that Streetgains only shows profitable trades in their Telegram reports.
He noted that calls made after 2 PM had less than 20% accuracy in his experience.
He called out the selective reporting directly: “Why only profit calls to show in group? To lure people?” He also mentioned planning to file an SEBI complaint over the conduct.
4. Show Sweet Profits Till You Subscribe, Then Empty Your Funds
Tharakesh Pulikonda, a Local Guide with 30 reviews, described the platform as one that runs after you until you subscribe and then becomes unreachable.
His description of the experience: profits are shown until you pay, after which losses begin, and the firm does not pick up calls.
These reviews align directly with what SEBI documented in its investigation.
The selective performance reporting, the communication gaps after subscriptions, and the disconnect between what is marketed and what is delivered are consistent across both the SEBI order and the user feedback.
How to File a Complaint Against Streetgains?
Since Streetgains Technologies Private Limited is a SEBI-registered Research Analyst, investors who have faced issues, whether related to guaranteed return promises, misleading communications, unsuitable product recommendations, or poor service, have a formal path available to them.
Here is how to use it step by step:
Step 1: Document Everything
Collect all evidence from your interaction with Streetgains. This includes WhatsApp messages, SMS alerts, email communications, payment receipts, subscription invoices, and screenshots of any calls or promises made.
Note the dates and what was communicated. Strong, organised documentation is the foundation of any effective complaint.
Step 2: Contact Streetgains Directly First
Before escalating to a regulator, raise your concern with Streetgains through their official support channels. Communicate in writing.
State clearly what was promised, what you experienced, and what resolution you are seeking. Keep a record of the response and the timeline.
Step 3: Register a Complaint in SCORES
If Streetgains does not resolve your issue satisfactorily, visit scores.sebi.gov.in and register a formal complaint. Select “Research Analyst” as the category and enter Registration Number.
Describe your concern specifically, attach all your supporting documents, and submit.
SEBI will take up the complaint with the firm and track the resolution.
Step 4: File a Complaint in SMART ODR
If SCORES does not produce a satisfactory outcome, SEBI’s Online Dispute Resolution platform (SMART ODR) offers a faster mediation-based pathway.
This is particularly effective for specific financial disputes where a defined amount of loss is involved.
Step 5: Arbitration in Share Market
If all prior steps are exhausted, arbitration is the final formal option. An independent arbitrator reviews the evidence and delivers a binding decision.
This step is most relevant if you have suffered a clearly documentable financial loss.
Act early. Documentation gets harder to piece together the longer you wait. If something felt wrong, it probably needs to be documented now.
If you are unsure how to structure your complaint or navigate SCORES, our team can help. Register with us, and we will guide you through every step from start to finish.
Conclusion
To answer the original question directly: No, Streetgains does not officially guarantee returns. Their own website, disclaimer, and client acceptance policy clearly say they do not.
But SEBI’s investigation covering 2022 to 2024 found that the firm’s sales personnel were, in practice, doing exactly that through WhatsApp messages and client calls.
That gap between the official disclaimer and the actual communications is precisely what SEBI acted on, resulting in a monetary penalty of ₹8 lakh and a one-month ban on new client onboarding in 2026.
The user reviews you have read here reinforce the same pattern: selective performance reporting, calls arriving after price movements, reduced customer support post-subscription, and loss recovery promises that never materialised.
Streetgains is SEBI registered. The registration is real and verifiable.
But registration confirms that an entity is authorised to operate within SEBI’s framework. It does not prevent the kind of communication lapses that SEBI documented here.
Before subscribing to any trading advisory service, verify their regulatory history on SEBI’s official portal, read independent user reviews across multiple platforms, and never let any salesperson’s promise of guaranteed returns influence your decision.
In the stock market, no one can guarantee outcomes. And anyone who tells you otherwise is not operating within the rules.
