You log into your IIFL Securities account, and something doesn’t look right. Trades you don’t remember placing. Positions larger than what you discussed. Losses that don’t add up.
If your first instinct is to question whether every trade in your account was actually authorised, trust that instinct.
Unauthorised trading complaints against IIFL Securities have consistently accounted for over 13–17% of all complaints filed in recent years. You are not alone, and you are not without options.
This guide tells you exactly what to do next.
IIFL Securities Unauthorised Trading Complaints
Suppose you log into your trading account with IIFL Securities and notice transactions that you don’t clearly recall approving.
The trade size looks larger than what you discussed. The number of shares feels higher than you expected.
Naturally, a question comes to mind: Was this done with my clear permission?
Unauthorised trading refers to situations where trades are carried out without proper client approval, or when the execution goes beyond what was instructed.
This could mean placing orders without confirmation, increasing quantities without consent, or taking positions that expose the client to more risk than agreed.
Summary Table: Overall Complaints, IIFL Unauthorised Trading Complaints, % of Unauthorised Trading
| Year | No. of complaints | Unauthorised trading complaints | % of Unauthorised trading
|
| 2021-22 | 363 | 52 | 14.32% |
| 2022-23 | 304 | 48 | 15.78% |
| 2023-24 | 284 | 44 | 15.49% |
| 2024-25 | 670 | 88 | 13.13% |
| 2025-26 | 380 | 66 | 17.36% |
One number stands out in IIFL Securities complaints in 2025–26. Unauthorised trading complaints accounted for 17.36% of all complaints filed against IIFL Securities. That is nearly 1 in 6 complaints.
Although complaints declined from 363 in 2021–22 to 284 in 2023–24, but then sharply increased to 670 in 2024–25 before falling again to 380 in 2025–26.
Unauthorised trading complaints also follow a similar pattern. While the numbers were relatively stable between 2021–22 and 2023–24 (ranging from 44 to 52), they rose significantly to 88 in 2024–25.
Overall, the numbers suggest one key takeaway. While market losses are part of investing, disputes over consent and transparency remain a recurring issue, and that is something both brokers and investors must take seriously.
When To Take Action Against a Broker?
Investing is built on a foundation of professional ethics, but even in a regulated market like India’s, that foundation can crack.
So, here is the question: Can you trust a stockbroker who isn’t following the rules?
If you see trades that you did not clearly approve of, or the quantity and risk level are much higher than what you agreed to, that is a warning sign.
A broker should always have proof that you authorised a transaction.
You should also act if risks were not properly explained, if someone promised “assured” or guaranteed returns, or if excessive trading is happening in your account without your understanding.
Very high brokerage charges due to frequent buying and selling can also be a concern.
Another serious issue is if payments are being collected in an unusual manner or through unofficial channels instead of proper company accounts.
In simple terms, take action when:
- You did not clearly approve the trade
- You did not understand the risk involved
- You feel important information was hidden from you
- The broker cannot provide proper records when asked
If these situations occur, start by raising a written complaint with the broker.
If the response is not satisfactory, you can escalate the matter to the relevant stock exchange or the Securities and Exchange Board of India.
How To File a Complaint Against Your Broker?
If you believe there has been unauthorised trading or misconduct in your account with IIFL Securities, the first step is to stay calm and begin collecting all relevant records.
If trades were executed without your clear approval or risks were not properly explained, you should act in a structured and timely manner.
1. Download and Review Your Contract Notes
Download all your contract notes from your registered email and examine them carefully.
Check the trade date and time, quantity executed, order type, price, and brokerage charged. These are official exchange documents and serve as primary evidence in any dispute.
2. Check Margin and Ledger Statements
Go through your margin statements, ledger reports, and daily transaction summaries.
Look for sudden increases in trade size, unusually high turnover within a short period, or brokerage charges that appear excessive compared to your capital.
If the exposure in your account seems higher than what you agreed to, it should be questioned immediately.
3. Preserve Every Communication Record
Keep copies of all emails, WhatsApp messages, call discussions, and payment confirmations related to your trades. Screenshots of positions and transaction history can also be helpful.
These records help establish what was discussed and whether proper consent was given.
4. Submit a Written Complaint
File a formal written complaint with the broker’s grievance redressal officer. Clearly mention the trades you are disputing, whether you had approved them, and whether the risks were explained.
If the matter is not resolved, you can escalate it to the stock exchange or the Securities and Exchange Board of India.
Under regulatory requirements, brokers must be able to show evidence of client consent for executed trades. If they cannot provide this, it strengthens your case for further escalation.
5. File a Complaint on SCORES
If your written complaint to IIFL Securities does not resolve the issue, you may escalate the matter by filing a SEBI complaint through the online grievance redress system of the Securities and Exchange Board of India.
Through this platform, investors can submit complaints against SEBI-registered intermediaries by providing account details, a clear description of disputed trades, and supporting documents such as contract notes and ledger statements.
Once filed, you receive a registration number to track the broker’s response within the prescribed regulatory timeline.
6. Escalation to the Stock Exchange & Filing Arbitration
If these steps don’t resolve the issue, you have two primary paths for formal redress: filing a complaint via the SMART ODR portal or initiating arbitration in the stock exchange.
The exchange may review order logs, authorisation records, and other evidence, and if the dispute persists, you can initiate arbitration under the exchange by-laws.
Arbitration is a formal dispute resolution process, and timely action is important as limitation periods apply.
To understand what this process actually looks like in practice, reviewing real IIFL Securities arbitration cases can be genuinely useful before you begin.
These documented cases show what evidence arbitrators considered, how investors presented their claims, and what awards were ultimately passed, giving you a realistic picture of what to expect before committing to the process.
Get Professional Help With Your IIFL Complaint
If you are experiencing similar issues with your trading account at IIFL Securities or any other broker, you do not have to handle it on your own.
Many investors are unsure whether what happened in their account amounts to unauthorised trading, mis-selling of services, excessive brokerage, or simply market-related losses.
Understanding this difference is important before filing any formal complaint.
We assist investors in:
- Reviewing their account activity
- Identifying whether proper consent was taken
- Organising contract notes, ledger statements, and communication records
- Preparing a clear, structured complaint
- Highlighting relevant regulatory provisions
- Drafting representations to brokers, stock exchanges, or the Securities and Exchange Board of India
The sooner you act, the stronger your case. Limitation periods apply in arbitration, and delays can cost you your right to claim.
Register with us today and let us review your case.
Conclusion
In the fast-moving environment of India’s stock markets, the difference between aggressive advice and misconduct can sometimes become unclear.
Unauthorised trading is not a grey area, it is a violation of the most basic rule of client-broker relationships: your consent.
SEBI has established clear mechanisms to hold brokers accountable. A well-documented, professionally presented complaint gives you a real chance at resolution.
Act fast, document everything, and do not settle for a brush-off at the broker level. If you need help, we are here.
Frequently Asked Questions
1. How do I know if trades in my IIFL Securities account were unauthorised?
If trades appear in your account that you did not explicitly approve, the quantity or risk level is higher than what you discussed, or you were not sent a contract note in time, these are all potential indicators of unauthorised trading. Reviewing your contract notes and ledger statements is the first step.
2. What is the first thing I should do if I suspect unauthorised trading at IIFL Securities?
Secure your account immediately. Change your password and revoke any third-party access. Then download your contract notes, ledger statements, and preserve all communication with your broker. Acting quickly protects both your account and your legal position.
3. Can I get my money back if IIFL Securities placed trades without my consent?
A refund is not automatic, but it is possible through the right channels. If your written complaint to IIFL is not resolved, you can escalate to SEBI via SCORES and subsequently initiate arbitration through SMART ODR to formally claim your losses.
4. Is there a time limit to file a complaint against IIFL Securities?
Yes. For arbitration at stock exchanges, a limitation period typically applies, generally three years from the date of the disputed transaction. Delay can weaken or even disqualify your claim, which is why acting promptly matters.
5. Do I need professional help to file a complaint against IIFL Securities?
While you can file independently, professional assistance significantly improves your chances, especially at the arbitration stage. At FraudFree, we help you organise evidence, draft your complaint, and represent your case so nothing important is missed.
