How to Complaint Against Trading With Karol | Step-by-Step Guide

You paid. Something went wrong.

Maybe the Telegram group never opened after payment. Maybe verification kept failing for days. Or maybe you asked for a refund and got silence.

Or maybe the service you got was not what was described before you subscribed.

Whatever happened, the formal complaint path exists. This blog walks you through it from the first step to the last.

How to Complaint Against Trading With Karol Online?

If you have faced issues while dealing with Trading With Karol, it is important to raise your complaint through the appropriate channels and keep proper supporting evidence ready.

Follow this process step by step:

Step 1: Collect Your Evidence Before Anything Else

This step determines how strong every subsequent step is. Do this before writing to anyone.

• Payment proof: Bank transfer record, UPI transaction screenshot, or payment gateway receipt. Confirm the payee name. If payment went to a personal account rather than a business account, screenshot the payee name specifically. Payment to a personal account is itself a SEBI violation.
• What was promised: The Graphy course page or app store description you read before paying. The WhatsApp message or Telegram post that described the service. The email or sales communication. Screenshot with the date visible.
• What actually happened: If service was not delivered, screenshot every attempt to access. Screenshot the “message failed” if you were blocked. Screenshot every failed verification attempt with the date and time. Screenshot every support message you sent and every response or non-response.
• The refund request if you made one: Every message where you asked for a refund and every response you received.

Write a one-paragraph timeline before you start filing. Date you paid, amount, what platform, what was promised, what happened, when you raised it, what response came.

This becomes your complaint description.

Step 2: Write to the Compliance Officer First

SEBI expects you to attempt internal resolution before filing on SCORES.

The compliance contact for thetradingfox.com is listed on the Grievance Redressal page of that site. Write a formal email to that contact.

• State: what you paid, when, on which platform, what was not delivered, and what resolution you want, either the service or a full refund.
• Give 21 calendar days for a written response.
• Keep a copy of the sent email and any reply. If they do not respond, that non-response becomes additional evidence in your SCORES complaint.

One thing to know: the phone number on the Grievance Redressal page, +91 9216060140, does not match the number appearing elsewhere on the site and in public listings, +91 92164 85581. Try both. Document which ones you tried and when.

Step 3: File on SEBI SCORES

If 21 days pass without a satisfactory response, file on SEBI SCORES. Go to scores.sebi.gov.in. Register using your PAN and mobile number.

File a new complaint with these exact details:

• Intermediary Type: Research Analyst
• Registration Number: INH000018090
• Name of Entity: Buddhi Prakash Karol

In the complaint description, paste your timeline from Step 1. Reference each attached document by name. State specifically what happened and what resolution you are seeking.

One important note: the tradingwithkarol.online site displays the registration number as INHO00018090 with a letter O where a zero should be.

The correct number for SCORES is INH000018090. Use the correct number or SCORES cannot route the complaint.

Attach all your evidence. SCORES accepts PDF and JPG/PNG files.

After submission, save the reference number. The entity has 21 days to respond. If the response is unsatisfactory, mark it as such.

For the guide on why SCORES complaints get rejected and how to avoid each reason, the rejection guide covers every category.

Read why SEBI SCORES complaints get rejected.

Step 4: Escalate to SMART ODR

If SCORES does not produce a satisfactory resolution, the complaint moves to SMART ODR at smartodr.in.

One critical rule before escalating: do not file on SMART ODR while your SCORES complaint is still active. Filing on SMART ODR automatically disposes the SCORES complaint.

Make sure the SCORES process is fully exhausted first.

On SMART ODR, an independent conciliator is assigned. The entity must participate. Most cases with clear documentation settle at the pre-conciliation stage without needing a formal hearing.

Three Play Store reviewers described the same post-payment pattern, service not delivered, verification failing, support not responding.

If your experience matches that pattern, the documentation you built in Step 1 is exactly what the conciliator will look at.

Read the Trading With Karol reviews and what each account describes.

Step 5: Arbitration

If SMART ODR conciliation produces no settlement, the matter moves to formal arbitration.

BSE holds Buddhi Prakash Karol’s RA enlistment under number 6351. Arbitration can be filed through BSE’s arbitration mechanism.

An arbitrator reviews all submitted evidence and issues a binding award. That award is enforceable as a civil court decree under the Arbitration and Conciliation Act 1996.

For claims below Rs. 10 lakh, the investor pays no arbitration filing fee.

The strength of the arbitration outcome depends entirely on the documentation assembled in Step 1. An arbitrator cannot award recovery for payments without a paper trail.

For the guide on what a binding award means and how to enforce it if the entity does not comply, the outcome guide covers the full post-conciliation picture.

Read what happens when SMART ODR conciliation fails and how arbitration works.

Specific Situations and What They Mean for Your Complaint

Every complaint is different, and the facts of your case determine the legal options available.

Below are some common situations traders and investors face and what they could mean for your complaint.

1. Verification Kept Failing After Payment

This is the most common complaint pattern across the three Play Store reviews. Screenshot every failed attempt with date and time visible.

This documents that the failure sat with the platform, not with you. It is central evidence for a non-delivery complaint.

2. Refund was Refused

The thetradingfox.com website carries three contradictory refund statements across three different pages.

If the service you paid for functions as regulated research, SEBI’s RA fee refund rules require a pro-rata refund on early exit.

The platform’s own “no refund” policy does not override this. Raise which specific refund page you relied on before subscribing in your SCORES complaint.

3. Account Handling Was Offered and You Paid For it

INH000018090 does not cover account management or execution.

If you paid for the “Account Handling Service Available” advertised on tradingwithkarol.online, that service was sold outside the scope of the registration.

This is both a complaint ground and potentially a basis for a full fee refund.

4. The Segistration Number Shown was Wrong

If you verified the number on the platform’s own site and saw INHO00018090, you were shown an incorrect number.

In your SCORES complaint, note that the platform displayed an incorrect registration number and clarify that INH000018090 is the correct number you are filing against.

Does Your Situation Qualify for a Formal Complaint?

Before filing anything, confirm which situation you are in.

These Situations Qualify for a SEBI SCORES Complaint Against INH000018090:

• Service has paid for but never delivered. Group access was not provided. Verification failed repeatedly with no resolution.
• Refund was requested and refused for unused subscription time.
• Marketing promised outcomes like “proven trading setups” or “high probability trades” that were not accompanied by mandated risk disclosures.
• The “account handling service” advertised on tradingwithkarol.online was sold but RA registration does not cover account management.

These Situations Go to cybercrime.gov.in, Not SEBI SCORES: 

• Losses from crypto tips on the Telegram channel. Losses from forex trading through the XM or Vantage referral links promoted on the channel.
• Money paid to an offshore broker after a referral from the platform. SEBI’s jurisdiction does not extend to these products.

The Telegram channel itself states this plainly.

If you are not sure which path applies, our team reviews your specific situation for free.

Register here for a free consultation.

For the complete analysis of what INH000018090 covers and what falls outside it, the registration page covers the full picture. Read is Trading With Karol SEBI registered and what the registration actually covers.

Conclusion

The formal complaint path against Trading With Karol runs through SEBI SCORES under INH000018090 for RA-related grievances. It escalates to SMART ODR and then arbitration if SCORES does not resolve the matter.

Crypto and forex complaints from the Telegram channel are outside SEBI’s jurisdiction and go to cybercrime.gov.in instead.

Evidence collected before filing is what determines outcomes.

Payment proof, service delivery records, support communication, and the specific refund page you relied on are the four categories that matter most.

Frequently Asked Questions

1. Who do I file a SEBI complaint against for Trading With Karol?

File against Buddhi Prakash Karol, the registered individual, using Research Analyst registration number INH000018090. The Trading With Karol brand is not a separately registered entity. The registration and the regulatory accountability both sit with the individual.

2. What is the correct registration number to use on SEBI SCORES?

INH000018090. The tradingwithkarol.online site displays it incorrectly as INHO00018090 with a letter O replacing a zero. Always use the correct number INH000018090 on SEBI SCORES or the complaint cannot be routed correctly.

3. Can I get a refund from Trading With Karol if service was not delivered?

Yes. Non-delivery of a paid service is the strongest refund ground. If payment went to a corporate account and service was not provided, full refund is realistic through SCORES and SMART ODR. If payment went to a personal account, the evidence chain requires additional steps but the complaint ground still exists.

4. What if verification kept failing for days after payment?

Screenshot every failed attempt with date and time. Screenshot every support message sent and every non-response. File on SEBI SCORES as a non-delivery complaint. The verification failure on the platform's side does not release the platform from delivering what was paid for.

5. How long does the complaint process take?

The internal grievance step gives the entity 21 days. SEBI SCORES gives another 21 days. SCORES Level 2 Review adds 2 to 4 weeks. SMART ODR conciliation typically runs 6 to 12 weeks. If arbitration is needed, the total timeline from SCORES filing to a binding award is typically 4 to 9 months.