Have you spotted Hedgex Fund online or heard about it in WhatsApp groups lately, and are thinking of investing in the platform? If yes, then before making a decision, know whether Hedgex Fund is real or fake
You’re not alone—this forex platform is getting lots of attention across India, promising big profits from algorithmic trading and fast returns that sound almost too good to be true.
But before you jump in, let’s hit pause for a moment.
With more money-making apps popping up every month, it’s super important to look past the glossy ads and ask: Is Hedgex Fund actually safe, or are there hidden risks you need to know about?
In this review, we’ll break down how Hedgex Fund really works, the red flags you should watch out for, and what steps to take if you think you or someone you know might be at risk.
Hedgex Fund Review
Hedgex Fund is a legally registered Indian company. It was incorporated in Goa in March 2023 under the name “Hedgex Fund IFSC LLP”.
However, while Hedgex Fund is an Indian-registered entity, it operates without regulation from SEBI or any other major financial authority, which significantly increases the risk for investors.
Its business model and warning signs have led many to flag it as a potential Ponzi scheme despite its Indian incorporation.
Here’s how the scam works:
- Ponzi Structure: Hedgex Fund promises high, steady daily returns (often 5% or more) and pushes users to recruit others for referral bonuses. Early “returns” are typically paid from money pooled by new investors, not from actual forex or crypto trading profits.
- Aggressive Recruitment: The platform thrives on a multi-level marketing model; users earn more only by bringing in fresh recruits, not from real trading success. This pyramid approach is a hallmark of Ponzi scams.
- Blocked Withdrawals & Fake Fees: Many victims report that when trying to withdraw their funds, their accounts are frozen and the company demands “release fees,” “taxes,” or other charges. Support often vanishes, and most users never get their money back.
- No Real Regulation: While Hedgex Fund is registered in Goa as an Indian company, it is not regulated by SEBI or any top financial authority, meaning investor protection is nonexistent, and money flows are hidden and untraceable.
- Manipulated Trading Results: Reports show demo accounts demonstrate profits, but real trading platforms manipulate numbers to give users a false sense of security. Actual trading activity is minimal or artificial.
Hedgex Fund Scam Cases Across India
Hedgex Fund’s Ponzi-style operations have attracted police action and fraud complaints in several states, not just Chhattisgarh. Here are the most notable cases linked to this unregulated platform:
Chhattisgarh: Widespread Fraud & Arrests
- In Gaurela-Pendra-Marwahi, police arrested agent Prahlad Rathore for duping over 70 people of crores of rupees, promising to double their investments through Hedgex Fund’s forex trading scheme.
- Multiple FIRs have been registered, and local media reported significant losses and victim testimony.
- This case received broad coverage and marked the most public crackdown so far.
Odisha: EOW Investigations in Bhubaneswar
- Victims in Odisha, especially around Bhubaneswar, have filed complaints with the Economic Offences Wing (EOW), submitting evidence of blocked withdrawals and losses tied to Hedgex Fund.
- Authorities in Odisha are investigating similar scams involving unregulated trading apps, with Hedgex Fund named directly in victim reports.
Other States: Police Reports & Ongoing Complaints
- Scam review sites and victim forums feature ongoing complaints about Hedgex Fund from states including Rajasthan and Maharashtra.
- In these regions, local freelance agents have promoted Hedgex Fund, and users have faced blocked accounts, lost money, and no regulatory help.
- While arrests or official charges have not been widely publicized in every state, evidence shows active police reports and possible EOW inquiries.
- Despite these regional cases, Hedgex Fund remains online and operational as of August 2025.
- The legal crackdown is regional and agent-focused; there is no formal nationwide shutdown or ban on the main company yet.
If you’ve been affected by Hedgex Fund anywhere in India, promptly report the fraud to your local police, the RBI Sachet portal, and your state’s EOW for investigation and possible recovery.
Where to Report Hedgex Fund in India
If you suspect fraud or are a victim of Hedgex Fund’s operations, it’s vital to file a forex trading complaint immediately to the right authorities. Here’s what you should do:
- RBI Sachet Portal
File a complaint under “Unregulated Entity” at the RBI’s official Sachet portal. This helps alert regulators and triggers an investigation into unsafe investment platforms.
- File a Cyber Crime Complaint
Visit India’s official cybercrime website and upload all evidence—transaction slips, chats, and payment receipts.
This portal handles financial and online scams and connects your complaint to the right police units.
- Local Police/EOW:
Go to your nearest police station or Economic Offences Wing (EOW) office. Lodge an FIR and submit proof of payments, communications, and any screenshots showing fraud or blocked withdrawals.
- Bank Fraud Desk:
If you transferred money to Hedgex Fund or its agents, inform your bank’s fraud department to block or recover suspicious transactions where possible.
Quick Action Increases Chances of Recovery—reporting promptly gives you the best shot at investigation and possible fund recovery. Always keep your documents and communications saved as evidence!
Need Help?
Register with us, and we will guide you through the process to file a complaint on the respective platform and for further escalation. Many victims got forex scam recovery with the assistance of our team.
Conclusion
Hedgex Fund has emerged as a major risk for Indian investors, operating a classic Ponzi-style scam disguised as an innovative forex and algorithmic trading platform.
Despite being registered as an Indian company, Hedgex Fund is completely unregulated, relies on unrealistic profit promises, aggressive referral schemes, and has triggered police and EOW investigations across several states.
Hedgex Fund is not safe and carries all the hallmarks of a financial fraud—there is no trustworthy trading activity or investor protection. If you or someone you know has been affected, report it immediately to the RBI Sachet Portal, India’s Cyber Crime portal, and local law enforcement.
Always choose regulated platforms and check for real credentials before investing. Staying informed and cautious is the best way to protect your savings and avoid falling victim to scams like Hedgex Fund.
