Technology has made stock market investing more accessible for people across India.
Brokers like Fortune Capital Services offer online trading options and a variety of financial services designed to help investors manage their portfolios.
However, as trading activity grows, questions around brokerage fees and account charges sometimes come up among users.
This blog explores complaint data related to Fortune Capital and highlights what investors should know about excess charges and brokerage practices.
Fortune Capital Excess Charges Overview
Fortune Capital Services Pvt. Ltd. offers a range of brokerage and investment services to retail and institutional investors.
By combining market access with research and advisory support, Fortune Capital aims to help investors navigate financial markets and build diversified investment portfolios.
Churning in the stock market means over-trading in an investor’s account.
A broker may keep switching investments or making frequent trades mainly to earn more commissions.
These extra transactions often add unnecessary costs for the investor.
Over time, those costs can reduce profits and may even lead to losses, which is why brokerage churning is considered unethical.
Fortune Capital Excess Charges Complaints
Fortune Capital Services Pvt. Ltd. does, however, have several complaints lodged against it- one of which we are diving deeper into today, that is, brokerage churning.
| Financial year |
Total clients | No. of complaints | % of complaints w.r.t. clients | Resolved complaints | % resolved w.r.t. Total complaints |
Arbitrations |
| 2022-23 |
29813 | 12 | 0.04 | 12 | 100 |
0 |
| 2023-24 |
29813 | 28 | 0.09 | 27 | 96.42 |
0 |
| 2024-25 |
35123 | 61 | 0.17 | 61 | 100 |
0 |
Over the three years, the number of complaints increased from 12 in 2022–23 to 61 in 2024–25, even though the client base only grew moderately.
This suggests complaints are rising faster than the number of clients.
While almost all complaints appear to be marked as resolved, the sharp increase in total complaints could indicate growing dissatisfaction or operational issues.
This trend raises a concern that, as the business expands, client grievances may also be increasing, which might require closer attention to service quality and internal processes.
| Financial year |
No. of complaints | Excess Charges complaints |
% of excess charges complaints w.r.t. complaints |
| 2022-23 |
12 | Around 1 |
8.33% |
| 2023-24 |
28 | Around 15 |
53.57% |
| 2024-25 |
61 | Around 31 |
50.81% |
A large portion of complaints are related to excess charges, jumping from 1 case in 2022–23 to almost 31 cases in 2024–25. That’s a significant increase.
In the last two years, more than half of all complaints were about excess charges, which suggests this may be a recurring problem rather than isolated incidents.
This pattern could raise concerns about transparency in fee structures or billing practices, and it may indicate a need for clearer communication with clients about charges.
Impact on Investors
It is important for you, as an investor, to know exactly how churning shows up in practical life if you are to remain vigilant.
Here’s what happens:
- Excessive Trading May Affect Portfolio Performance
Brokerage churning can cause unnecessary trading in an investor’s account. This can increase transaction costs and make it harder for the portfolio to achieve steady growth. - Complaint Trends Offer Insight for Investors
Many traders review complaint histories to learn about the experiences of other clients before selecting a brokerage service. - Increasing Complaints Can Encourage Careful Review
When the number of complaints rises, investors may become more cautious and evaluate the broker’s services more closely. - Regular Account Reviews Are Helpful
By checking contract notes and trading statements, investors can understand how trades are executed and confirm that their instructions are being followed. - Tracking Brokerage Fees Helps Manage Costs
Observing brokerage deductions and the number of transactions allows investors to better understand the costs involved in their trading activity.
When Can You Take Action Against a Broker?
Staying informed about what happens in your trading account is one of the best ways to protect your investments.
Occasionally, investors may notice unusual activity such as repeated buy–sell transactions, trades placed without clear instructions, or brokerage charges that seem higher than expected.
These patterns may indicate excessive trading or a lack of transparency in how the account is being handled.
If such warning signs appear, it is a good idea to review your transaction records carefully and ask your broker for clarification.
When concerns remain unresolved, investors can consider filing a formal complaint through the proper regulatory channels to seek a fair resolution.
How to File a Complaint Against a Stock Broker in India?
You, as an investor, have the right to raise complaints and seek proper resolution.
Taking the right steps quickly can make it easier to prove your case and protect your money.
1. Keep Proper Records
Start by collecting all relevant proof, such as contract notes, transaction history, emails, SMS alerts, screenshots, and any recorded calls with the broker.
These records help establish what actually happened and whether a trade was carried out without your approval.
2. Contact Your Broker First
Before escalating the matter, reach out to the broker’s support or grievance team. Clearly explain the issue and attach your documents.
In many cases, brokers resolve the issue at this stage once the complaint is formally raised.
3. Submit a Complaint in SCORES
If the broker does not provide a satisfactory response, you can file a complaint in SEBI. SEBI SCORES platform can provide you with the necessary assistance.
This officially brings the regulator into the process and requires the broker to reply and address the issue.
4. Stock Market Arbitration
If the matter remains unresolved, you can escalate it to arbitration through the stock exchange.
An independent arbitrator will review the case and issue a final, binding decision on the dispute.
Need Help?
If you are unsure regarding how to file a complaint against Fortune Capital, you can register with us.
Our team is here to help.
Once you register with us, we’ll guide you through the entire process, including preparing your complaint and handling the filing.
If the matter goes to SEBI, our professionals can represent you there as well, so you have support every step of the way.
Conclusion
Overall, the data suggests that while Fortune Capital Services Pvt. Ltd. continues to serve a growing number of investors, the rise in complaints does deserve attention.
When fee-related issues appear frequently in grievance records, it can signal the need for clearer pricing and better client communication.
Investors should stay attentive to their trade activity and account statements, as early awareness can help prevent small issues from turning into larger financial concerns.
