Online trading apps have become increasingly popular in India, offering promises of quick returns, low entry barriers, and effortless investing. Among these, EasyTrade—also known as EasyTrade7—has attracted the attention of many first-time investors. However, before investing, it’s important to look beyond the marketing claims.
While EasyTrade presents itself as a simple, reliable, and profitable platform, user experiences and regulatory alerts tell a different story. In this article, we’ll take a closer look at the platform, identify major red flags that could indicate potential scams, examine real-life cases from India, and outline the proper steps victims can take to report such fraudulent schemes
Easy Trade 7 Review
EasyTrade7 markets itself as a fast, easy-to-use trading platform with features like:
- Zero brokerage fees
- Low minimum deposits (sometimes as low as ₹10)
- High returns in stock and options trading
At first glance, these claims appear attractive, especially for beginners. However, multiple signs indicate the platform may not be legitimate:
- Unrealistic returns: Profits promised far exceed standard market norms.
- Withdrawal issues: Users report funds disappearing or being blocked.
- Lack of transparency: Ownership, company registration, and office details are unclear.
Based on these red flags and user complaints, EasyTrade cannot be considered fully legitimate and exhibits characteristics of a fake trading app scam.
Red Flags That Suggest EasyTrade is Fake
Investing in EasyTrade comes with several warning signs:
1. Aggressive Marketing
EasyTrade promotes itself heavily on WhatsApp, YouTube, and social media, targeting new investors with promises of quick profits. These marketing tactics are typical of fraudulent platforms aiming to lure inexperienced users.
2. Small Initial Returns to Build Trust
New users often see minor profits on early deposits. This creates a false sense of security and encourages them to invest larger amounts.
3. Encouragement to Deposit More
Once trust is established, EasyTrade pressures users to deposit more money, promising even bigger returns.
4. App Manipulation
The platform may display fake charts, inflated balances, and misleading trading data, making users believe their investments are successful when in reality they are at risk.
5. Withdrawal Problems
When users attempt to withdraw larger sums:
- Funds may vanish or be blocked
- Extra “processing fees” may be demanded
- Customer support often remains unresponsive
6. Opaque Operations
There is little verifiable information about the company, its owners, or registration, making it difficult for victims to take legal action.
7. Real-Life Cases in India
- Panchkula, Haryana: A 62-year-old investor lost ₹48.5 lakh. Small withdrawals initially built trust, but larger funds disappeared.
- Delhi: A senior citizen lost ₹38.5 lakh via a fake trading app. Despite transferring money via UPI and online banking, withdrawals were blocked, and support was unresponsive.
- Other Victims: Professionals, retirees, and first-time investors across India have reported losses ranging from a few thousand to several lakh rupees.
These red flags and real-life examples clearly indicate that EasyTrade is highly risky and likely fraudulent.
How to Report the Easy Trade App?
If you or someone you know has invested in EasyTrade and is facing problems, taking action quickly is essential. Here’s how you can report the platform and protect yourself:
- File a complaint in Cyber Crime
- Visit cyber crime portal and file a complaint.
- Provide all evidence, including transaction receipts, screenshots, app details, and communications with the platform.
- Lodge a Police Complaint (FIR):
- Approach your local police station and register a First Information Report (FIR) for financial fraud.
- Share all supporting evidence, such as bank statements, payment receipts, and chats or emails.
- SEBI Complaints for Unregistered Platforms:
- If the trading app is not registered with SEBI, you can report it through the SCORES portal (sebi.gov.in).
- This helps authorities track fraudulent investment schemes and may lead to action against the operators.
Always keep screenshots, transaction IDs, and correspondence ready before filing any report, as this evidence is crucial for investigations.
Need Help?
If you have been scammed in such scams, then register with us now. We will guide you through the process of raising the concern and help you with the recovery process.
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Conclusion
EasyTrade/EasyTrade7 promises quick profits, but the platform exhibits all the characteristics of a fake trading app scam. From manipulated app data and blocked withdrawals to unresponsive support and lack of regulation, the risks are clear.
High returns with low risk are almost always a red flag. Verify the regulatory status of trading platforms, research thoroughly, and never invest money you cannot afford to lose.
