Quick Summary
Dream Wealth Research Financial Services is a SEBI registered Research Analyst under proprietor Ajay Kumar Jharbade, holding registration number INH000016083 since May 2024. Some of its monthly plans, once annualised, cost more than SEBI’s yearly fee cap. Its complaint data shows a rising trend, with one complaint still pending from an earlier reporting period. The firm has no verified social media presence, its own site icons link to generic platform homepages rather than real accounts, and WhatsApp is its main communication channel, even as the firm warns of impersonation on that same platform. One independent Reddit review describes losing support after a few weeks. This page covers each finding in order.
You receive a call from a representative of Dream Wealth Research, offering expert market guidance with a pitch that sounds convincing.
Should you sign up simply because the call sounded professional?
Before any payment goes out, the registration, the pricing, and what actual users report are all worth checking first.
This page verifies the firm’s SEBI registration, breaks down its pricing against the fee cap, and works through its complaint data, its online presence, and one independent review, before covering exactly how to file a complaint if you need to.
Is Dream Wealth Research SEBI Registered?
Yes. Dream Wealth Research Financial Services holds an active SEBI Research Analyst registration under number INH000016083, which came into effect on 7 May 2024.
Ajay Kumar Jharbade is the proprietor behind the firm.
The firm publishes both a disclosure document and an investor charter on its website, exactly as SEBI mandates. These documents lay out the firm’s conflict of interest stance, fee terms, and an investor’s rights and responsibilities.
Publishing them is a basic compliance step rather than proof of quality, but it does show the firm meets this minimum transparency requirement.
A SEBI registration only confirms the analyst cleared certification and eligibility norms at the time of approval. It says nothing about ongoing service quality, the accuracy of calls, or how the firm treats clients after onboarding.
Treat the registration as a starting checkpoint, not a guarantee of good outcomes.
What Does Dream Wealth Research Offer, and What Does It Cost?
Dream Wealth Research positions itself as a technical research analyst providing unbiased stock market signals across equity and derivatives segments, delivered through research-based recommendations aimed at helping traders protect capital.
Its published monthly pricing runs across several segments:
| Segment | Monthly Price |
|---|---|
| Cash | ₹10,000 |
| Future | ₹15,000 |
| Option | ₹15,000 |
| Index | ₹17,000 |
| Positional trading strategies | ₹12,500 |
| Combo | ₹60,000 to ₹75,000 |
SEBI caps what a Research Analyst can charge an individual or HUF client at ₹1,51,000 a year. Several of these plans, once paid monthly across a full year, work out to more than that limit.
The Combo tier alone, at ₹60,000 to ₹75,000 a month, would reach well past the cap within a matter of months if paid consistently.
Nothing on the pricing page explains this or clarifies which client category each plan is meant for.
Also Read: Prabhat Mittal has no direct payment option anywhere on the site for any plans & redirects to WhatsApp instead.
Dream Wealth Research Complaints
Dream Wealth Research discloses its complaint data broken down by year, which is more transparent than what several similar firms offer.
| Year | Carried Forward | Received | Resolved | Pending |
|---|---|---|---|---|
| 2023-24 | 0 | 0 | 0 | 0 |
| 2024-25 | 0 | 3 | 3 | 0 |
| 2025-26 | 1 | 4 | 3 | 1 |
| 2026-27* | 1 | 6 | 5 | 2 |
| Grand Total | 1 | 13 | 11 | 3 |
*Figures for 2026-27 cover only a few months of the year, since this financial year is still in progress.
Out of 13 complaints received, 11 have been resolved, while 3 remain pending, including two from the most recent reporting window.
Notably, one of the pending complaints has carried forward from an earlier reporting period, suggesting it has been sitting unresolved for a relatively longer stretch than a fresh complaint would.
A rising complaint count across a small firm is worth reading carefully, not dismissing. Numbers alone will not tell you what actually happened in any of these disputes, which is exactly why the review below matters alongside this table.
A note on this data: different snapshots of this firm’s complaint disclosure, checked at different times, have not always matched each other exactly.
Treat this table as accurate as of the most recent check, and verify it directly against the firm’s own live disclosure page before relying on it for a decision.
Dream Wealth Research Fake or Real
Despite running an active website, Dream Wealth Research shows no confirmed presence on social media.
The Facebook, Twitter, LinkedIn, and YouTube icons on its site link straight to each platform’s generic homepage, not an actual firm account.
A visitor clicking any of these icons expecting to land on the firm’s own profile instead ends up on the platform’s front page with no connection to Dream Wealth Research at all.
A WhatsApp link sits prominently across the website, suggesting WhatsApp is the firm’s primary channel for reaching clients.
The firm’s own homepage even warns that scammers misuse its name on WhatsApp, Telegram, and Instagram to collect payments.
That warning, paired with WhatsApp being the main point of contact, leaves investors with little independent way to confirm they are actually speaking to the verified entity rather than someone impersonating it.
Also Read: Dil Se Trader, automated trade execution, offered directly to paid subscribers.
Dream Wealth Research Reviews
Very few independent reviews of Dream Wealth Research exist online, given its limited social media presence. One account did surface as a comment under a discussion on r/IndianStockMarket.
This is one individual’s experience, shared on a public forum with no way to verify the details. Nothing here should be read as a conclusion about the firm. It is one data point among many worth weighing.
The user describes getting a call pitching Dream Wealth Research, calling the marketing pitch convincing and somewhat aggressive.
They say they joined the service but stopped receiving support after a few weeks. According to the post, the firm later blocked them on Instagram, and its main Instagram account disappeared shortly after.
The user clarifies they did not suffer any financial losses, only a lack of continued support, and closes the post advising others to stay cautious.
We are reporting what this user said on a public platform. We are not independently verifying this account, and no SEBI order confirming this conduct has been issued as of the date of this review.
This single review lines up with the broader pattern already covered above.
No verified social presence, an Instagram account that reportedly vanished, and communication that appears to run mainly through less traceable channels all point in the same direction.
Trusted a convincing pitch and got no support?
We will help investors review their communication records, assess whether there are grounds for a complaint, and prepare the documentation for SEBI SCORES, SMART ODR, or arbitration.
What Red Flags Should You Check Before Paying Dream Wealth Research?
A few checks apply regardless of whether this firm turns out to be trustworthy or not, and none of them require special expertise.
- No one can promise guaranteed returns. SEBI regulations do not allow any research analyst to promise fixed or guaranteed profits. If a pitch includes assured returns, that is a violation worth reporting on its own.
- Never share trading or Demat login credentials. A research analyst only provides recommendations. There is no legitimate reason for one to ask for your trading or Demat login.
- Pay only through verified banking channels. Payments should go to an account held in the firm’s registered name, through traceable banking channels, not a personal UPI ID or a third party account. Dream Wealth Research itself warns about this exact risk on its own website.
- Verify the registration independently. Do not rely solely on a registration number quoted during a call or message. Cross-check it directly on SEBI’s website before paying anything.
What Can Dream Wealth Research Do?
The SEBI Research Analyst Regulations, 2014 set a specific, limited scope for what Dream Wealth Research, or any registered RA, is actually allowed to offer.
Knowing this list makes it easier to spot the moment a call with them drifts outside it.
- Publish research reports backed by fundamental or technical analysis.
- Issue buy, sell, or hold recommendations with clear reasoning.
- Charge research fees within SEBI’s prescribed cap.
- Disclose conflicts of interest, personal holdings, and relevant risk factors.
What Can Dream Wealth Research Not Do?
What Dream Wealth Research is not allowed to do matters just as much, and it is exactly where several of the concerns on this page start.
If any interaction with them crosses into the following, treat it as a direct warning sign.
- Guarantee profits or promise fixed, assured returns.
- Manage or trade your funds directly on your behalf.
- Pool your money with other clients into a single trading account.
- Claim certainty about future price movements.
Any of these crosses outside what Dream Wealth Research’s own SEBI registration actually permits.
How To Complaint Against Dream Wealth Research?
Most investors freeze at this point, not because the process is hard, but because nobody explains it as a sequence.
It isn’t one big leap to a regulator. It’s five small, specific steps, and you only take the next one if the previous one genuinely fails you.
Think of it as a ladder. Skipping a rung doesn’t get you there faster; it just gets your complaint sent back to start over.
Here’s how the climb actually works:
- Step 1: Document everything. Receipts, call recordings, screenshots, written recommendations.
- Step 2: Go to the firm first, in writing, on record.
- Step 3: SEBI SCORES complaint, if the firm doesn’t fix it.
- Step 4: SMART ODR portal, if SCORES doesn’t either.
- Step 5: Share market arbitration, the final, binding rung.
Need the full walkthrough, timelines, and all?
Our complaint against SEBI registered research analyst guide covers every step.
Disclaimer: This review is based on publicly available information, including Dream Wealth Research’s own website, as of the date of publication and does not constitute investment advice. It is not a SEBI finding, and any conclusion drawn from it should be independently verified.
Conclusion
Dream Wealth Research Financial Services holds a valid SEBI registration under proprietor Ajay Kumar Jharbade, and its complaint trend shows a mix of resolved and pending cases across the past few years.
Alongside that, some pricing plans exceed SEBI’s annual fee cap; one complaint has sat unresolved longer than a typical fresh case; there is no verified social media presence; and one independent review describes losing support within weeks.
None of this alone confirms wrongdoing, but together it is more than enough reason to verify carefully before you pay.
Verify the registration yourself, check the pricing against the fee cap for whichever plan you are considering, and treat any guaranteed-return conversation as an immediate red flag.
Report. Recover. Stay Fraud Free.
Frequently Asked Questions
Dream Wealth Research is real in the sense that it holds a valid SEBI registration under number INH000016083. Registration alone does not confirm the quality or reliability of its services.
Ajay Kumar Jharbade is the proprietor of Dream Wealth Research Financial Services.
Some plans do, once paid monthly across a full year. SEBI caps research fees for individual and HUF clients at ₹1,51,000 a year, and several of the firm's monthly plans, particularly the Combo tier, exceed this if paid consistently.
No. SEBI regulations do not allow any research analyst to guarantee fixed or assured returns under any circumstances.
Yes. You can still file a complaint and state that the analyst stopped responding to your calls or messages. Any payment proof, transaction details, or failed communication records you have can help support your case.
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