Have you ever felt like the broker’s fees are eating up your profits? If yes, you’re not alone. There have been a lot of complaints about high brokerage charges. But what if suddenly an app promises you zero brokerage, instant trading, and sky-high leverage? The only word that comes out is, “Wow, that is amazing!”
One such application is Trade Karo App.
The app promises fast money and instant withdrawals.
But with so many scams available in the market, one question that pops up in your mind is “Trade Karo App Real or Fake and legal in India?”
Everyone is curious to know if this is the trading revolution Indians have been waiting for. Let us uncover some important information about the application that will clear your doubt.
Is Trade Karo App SEBI Registered?
Trade karo is an app that claims to offer trading services. It promises no brokerage fees and up to 500x leverage.
What 500x leverage?
But does SEBI allow that?
Clearly not! As per the margin rule, a broker can provide a maximum 5x margin for trading.
So, how does Trade Karo claim to offer that much leverage?
Well, that is something concerning, and the answer is available on its website only, where you will not find any such details of SEBI registration.
Wait, What?
It claims to be a broker with SEBI registration.
Yes, and that clearly indicates that it is not a legitimate broking platform.
To verify the same, if you search for the broker on SEBI website, this is what you get:
Not only this, but there is no listed app on the Play Store. All you find is a website with the Google Play Store and App Store buttons, but if you click on any of those, this is where you will be redirected:
Seems fine to most of you at first instance, but check the URL. It is not a Play Store link. This clearly indicates that they are making you download APK files that look exactly like any trading app, but are actually a setup to deceive people.
Is Trade Karo a Ponzi Scheme?
Also, if you do a bit more research, you can identify ponzi scheme with there are a few signs that indicate such illegal schemes.
It gives users a 15% bonus for referring other users. It also invites affiliates and agents to join the app. This is a strategy used by fake apps.
All these things point to a red flag. These are things that cannot be ignored. As a user, you should be vigilant about this information and immediately report a ponzi scheme.
Is Trade Karo Dabba Trading?
The answer to this question might have been clear to you. Trade karo is not registered with SEBI, NSE, or BSE.
These are the mandatory platforms for trading. Without these registrations, any app that offers real trading is outside Indian law.
Before you fall for their glowing reviews, social media, or any fancy features, you must remember that SEBI approval is the real stamp of legitimacy.
Experts say that Trade Karo operates as a platform of dabba trading works.
The app is not registered with NSE and BSE which proves that it is not real trading. Imagine placing a trade, but it never actually happens on the real stock market.
Instead, the dabba operator settles everything internally behind the scenes. It is banned because investors don’t get any protection or help if things go wrong.
So, it’s risky and should definitely be avoided!
BSE and NSE have issued notices for the public to stay informed about this scam.
How to Report Trade Karo in India?
If you or someone you know has faced issues with TradeKaro or similar applications, here’s what you can do:
- You can file a cyber crime complaint on India’s national cybercrime reporting portal.
- You can file a complaint in SeBI by sending an email with transaction screenshots and communication evidence.
- You can contact the NS E or BSE investor grievance cells to register concerns.
- You can file an FIR at your local police station.
Need Help?
We understand that it becomes very frustrating when all our hard-earned money just vanishes in seconds.
In case you are confused about how to report such fraud online, register with us now.
Conclusion
Several apps like Trade Karo are still out there in the market with tempting offers to lure users. It is our responsibility to protect ourselves from scams.
Before you trust any platform, make sure it is registered with SEBI and has a look at its privacy policy. These two checks will help you answer all your doubts.
Your hard-earned money deserves protection, not just fake promises. If you spot any suspicious activity, immediately run from there.
