Goodwill Wealth Management is a SEBI-registered stockbroker and a trading member of major Indian exchanges such as the National Stock Exchange of India, Bombay Stock Exchange, and Multi-Commodity Exchange of India.
It allows investors to buy and sell different financial products such as stocks, derivatives, commodities, currencies, and mutual funds.
Over the years, it has grown into a nationwide brokerage with more than 100 branches, hundreds of employees, and over 200,000 clients across India.
However, like many brokerage platforms, Goodwill Wealth Management has also faced complaints from investors, particularly regarding unauthorised trading, which makes it important to examine the issue more closely.
Goodwill Wealth Unauthorised Trading Complaints
In simple terms, unauthorised trading is when an online broking platform uses the money in your account to make trades on your behalf without your consent.
Complaint data can sometimes reveal patterns that are not immediately obvious. When the same types of issues appear repeatedly over several years, it becomes important to look a little more closely.
The tables below look at the number of clients, the complaints raised by them, how those complaints were handled, and how many were related to unauthorised trading.
|
Financial Year |
Total clients | No. of complaints | % of complaints w.r.t. Total clients | Resolved complaints | % of resolved w.r.t. complaints |
Arbitrations |
|
2022-23 |
34650 | 35 | 0.10 | 32 | 91.42 | 0 |
| 2023-24 | 34650 | 47 | 0.13 | 45 | 95.74 |
0 |
|
2024-25 |
31649 | 152 | 0.48 | 152 | 100 | 0 |
| 2025-26 | 24997 | 182 | 0.72 | 174 | 95.60 |
0 |
Despite a declining client base, complaints against the platform have continued to rise, suggesting persistent user issues even though the broker maintains a high complaint resolution rate.
But the bigger question is how many of these complaints are actually related to unauthorised trading.
|
Financial Year |
No. of complaints | No. of unauthorised trading complaints |
% of unauthorised trade w.r.t. complaints |
|
2022-23 |
35 | 11 | 31.42% |
| 2023-24 | 47 | 8 |
17.02% |
|
2024-25 |
152 | 51 | 33.55% |
| 2025-26 | 182 | 56 |
30.76% |
A significant portion of the complaints against the platform each year relates to unauthorised trading.
In 2024–25 and 2025–26, the number of such complaints rose sharply to 51 and 56 cases, accounting for over 30% of the total complaints.
This consistent presence of unauthorised trading issues indicates that it remains a recurring concern for investors.
When Can You Take Action Against a Broker?
To put it quite simply: the sooner you take action, the better it will be.
Take action as soon as you discover that funds in your account may have been used without your consent. Acting quickly can help prevent further losses and strengthen your position if a dispute arises.
Check your emails and SMS alerts from the last 24 hours for any trade confirmations or notifications related to transactions you did not explicitly approve.
Action can be taken when:
- Trades are executed without your permission.
- The broker refuses to provide trade confirmations or call recordings.
- The broker ignores your complaint or fails to resolve the issue.
- There is a clear misuse of trading authority or account access.
- Trades are made very frequently without your consent, leading to unnecessary losses or high brokerage charges.
In such situations, investors should immediately gather all relevant records, including contract notes, account statements, emails, SMS alerts, and any call recordings or communications with the broker.
If there happens to be such a notification, contact your broker within a week. If you wish to file a complaint with SEBI, do so within a year.
How To Report A Complaint Against A Broker?
If you find yourself in a situation wherein your funds were handled without your consent, you must ensure the issue is brought to light and corrective action is taken for your sake.
- Collect Evidence: Start by compiling all emails, messages, screenshots, contract notes, etc related to the unauthorised trade made in your name by the broker. This is important as without adequate proof, there won’t be a case.
- Contact the Broker First: Bring the matter to the broker along with all the proof from earlier and explain your issue to them. Use their official contact information to do so. There is a fair chance that your complaint will be resolved at this stage.
- File a Complaint Through SCORES: If the broker does not respond to or resolve your complaint, take the matter further and file a SEBI complaint with SCORES, that is, SEBI’s official complaint addressal platform.
- Initiate Arbitration If Needed: You could further escalate the situation if the complaint remains unresolved by initiating arbitration in the stock exchange using SEBI’s ODR platform.
Need help?
Too much to handle? Don’t worry- you are not alone in this.
Register with us today and let us handle the technical aspects behind the scenes.
Our team is extremely efficient and will ensure that you do not have to stress about the process- from analysing the transaction to compiling documents and filing complaints to preparing submissions for regulators- we can handle it all for you.
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Conclusion
When numbers like these are looked at together, they tell a story that investors should not overlook.
Complaints are rising sharply even while the number of clients is shrinking, which is not a very comforting trend.
At the same time, a large share of these complaints relates to unauthorised trading, something that directly affects an investor’s control over their own money.
Situations like this make it important for users to stay alert, review their account activity often, and question anything that does not look right.
