Quick Summary
Wise Global Research Services Private Limited is real. SEBI registration INH000016719 under Hemraj Singh Sikarwar is active and verifiable. But real and trustworthy are two different questions. This page answers both. The registration facts are confirmed. The fee amounts reviewers paid exceed SEBI’s annual cap. The stop-loss removal advice three reviewers independently describe has a specific regulatory angle. And the complaint and escalation process for investors who already paid is covered step by step.
You are asking is Wise Global Pvt Ltd real or fake because something felt off. Either you paid and something went wrong, or you are evaluating before you pay and want an honest answer.
Here is the honest answer.
Wise Global Research Services Private Limited is real. The SEBI registration is genuine.
Hemraj Singh Sikarwar is the registered proprietor and Wise Global Research owner under registration number INH000016719. You can verify this at sebi.gov.in in two minutes.
Real is not the same as trustworthy. And trustworthy is not the same as compliant. This blog separates all three.
Is Wise Global Pvt Ltd Real or Fake?
Real. Definitively.
Wise Global Research Services Private Limited holds active SEBI Research Analyst registration INH000016719. It is issued to Hemraj Singh Sikarwar as an individual proprietor.
The firm is not a shadow entity, not a fake website, and not an unregistered operator.
Three things confirm this. The registration appears on SEBI’s public intermediary register.
Want to cross-check their SEBI license number and mandatory disclosure records yourself? Read our full breakdown on is Wise Global Research SEBI registered for verification.
The firm has filed mandatory complaint disclosures across multiple financial years.
And the Google reviews, even the negative ones, describe specific services, specific representatives, and specific transactions with the same firm.
An entity this documented is real.
For a full breakdown of client experiences and feedback, read our detailed Wise Global Research reviews coverage.
What Makes It a Harder Question Than Just Real or Fake?
Real answers the identity question. It does not answer the conduct question.
Five Google reviewers describe specific experiences after paying Wise Global Research.
Three of them, independently, describe the same conduct: being told to remove a stop-loss when a trade moved against them.
The reviews are from different people, written at different times, describing different trades.
One reviewer, Afser Ali, paid ₹17,80,000 and describes stop-loss removal advice on multiple trades. Another reviewer describes losing ₹2 lakh in one month through no-stop-loss trades marketed as a “support” service.
A third describes the same stop-loss removal pattern and warns other investors directly.
SEBI’s Code of Conduct for Research Analysts requires recommendations to be based on sound research methodology and proper risk management.
Advising a client to remove a stop-loss during an active losing trade is the opposite of what this requirement covers.
That same conduct appearing independently across three reviews is a pattern, not a coincidence.
Wise Global Research’s Fee Cap Problem
SEBI caps the total fees a single client can pay to one registered Research Analyst at ₹1,51,000 per financial year.
Reviewer Afser Ali paid ₹17,80,000. Reviewer Mohammad Obaidur Rahman paid ₹1,45,000 to access the “Nifty Club” service alone.
A fourth reviewer paid ₹3,50,000 and describes a loss of ₹54,000 within three months before being pressured to pay more.
The ₹17,80,000 and ₹3,50,000 payments both exceed the SEBI annual cap by significant multiples.
Whether these were structured as single payments or multiple plans across a year, any combined total from one registered RA exceeding ₹1,51,000 per client family violates the regulatory ceiling.
If your total payments to Wise Global Research in any financial year exceeded ₹1,51,000, you have a specific complaint ground regardless of whether the recommendations produced profits or losses.
The Profile Upgrade Pattern
Two reviewers describe a second pattern that appears after the initial losses.
After losses accumulate, firm representatives call with an upgrade offer. Pay more, and the previous losses will be recovered.
Pay for the “profile upgrade” and get three times the returns. One reviewer was warned that previously promised benefits would be forfeited if they did not pay ₹1,50,000 immediately.
SEBI’s Schedule III explicitly prohibits guaranteed or multiplied return promises. SEBI’s Regulation 15 prohibits loss recovery assurances.
Both violations are described in these accounts.
The pattern of loss followed by escalating upgrade pressure is also one of the clearest indicators of a recovery scheme, which is addressed directly in SEBI’s enforcement priorities.
Wise Global Research’s Complaint Data
Wise Global Research’s mandatory disclosure shows 15 complaints between June 2025 and March 2026, all resolved. The FY 2024-25 annual data shows 8 complaints received, 7 resolved, and 1 carried forward.
Zero complaints for June 2026.
The resolution record on paper is clean. But 15 complaints in 10 months for a firm with two subscription plans is a meaningful rate for its size.
And the “Other Sources” row in every month’s table shows zero, meaning complaints raised through public reviews or non-SCORES channels do not appear to be captured in the formal data.
The five Google reviews that form the strongest evidence base for this page do not appear in the formal complaint data.
How to File a Complaint Against Wise Global Research?
If your experience matches what the reviewers describe, the formal complaint path applies directly.
Step 1: Collect Your Evidence Immediately
Payment receipts and bank transfer records. Every WhatsApp message from any representative about stop-loss removal, upgrade pressure, or return promises.
Trading account statements showing the losses during the relevant period. Any call recordings you have.
Save everything to a separate folder now. Messages can be deleted.
Step 2: Write a Formal Complaint to the Firm
Send an email to Wise Global Research’s compliance contact. State what you paid, when, for which service, what conduct you experienced, and what resolution you are seeking.
Give 21 calendar days for a written response.
Step 3: File on SEBI SCORES
Go to scores.sebi.gov.in. Select Research Analyst as the intermediary type. Enter INH000016719 as the registration number.
In the complaint description, state the specific conduct. Stop-loss removal advice is a risk management failure. Fees above ₹1,51,000 is a fee cap violation.
Guaranteed return promises or 3x return claims are Schedule III violations. Name which ones apply to your situation.
SEBI SCORES is completely free. The firm has 21 days to respond formally after the complaint is forwarded.
For the complete guide on what each SEBI SCORES status means and what to do when a complaint stalls, the SCORES guide covers the full process.
Read how SEBI SCORES complaint works and what to expect at each stage.
Step 4: Escalate to SMART ODR
If SCORES does not produce a satisfactory resolution, the complaint transfers to SMART ODR at smartodr.in. An independent conciliator facilitates structured mediation.
The firm must participate. Most fee recovery cases settle at this stage when the evidence is well-documented.
For the complete guide on how SMART ODR conciliation works and what the intermediary is required to do, the process guide covers each stage.
Read how SMART ODR conciliation works and what each stage produces.
Step 5: Exchange Arbitration
If SMART ODR conciliation fails, formal arbitration follows. An arbitrator reviews all submitted evidence and issues a binding award.
For claims below ₹10 lakh, the investor pays no arbitration filing fee.
Our team files your SEBI SCORES complaint, prepares the documentation, and represents you through SMART ODR and arbitration.
Conclusion
Wise Global Research is real. The SEBI registration is genuine and verifiable. That is the straightforward answer to the fake-or-real question.
What the registration cannot answer is whether stop-loss removal advice during losing trades, upgrade pressure after losses, and fees that exceed SEBI’s annual cap stay within what the registration requires. Five specific reviewers say they do not.
Evidence collected early, filed correctly, and escalated through SCORES and SMART ODR is what produces recovery in cases like this. Speed matters. The sooner you document and file, the stronger your position.
Frequently Asked Questions
Yes. Wise Global Research Services Private Limited holds active SEBI Research Analyst registration INH000016719 under proprietor Hemraj Singh Sikarwar. It is a legally real and registered entity, not a fake or unregistered operator.
No. SEBI's Code of Conduct requires research recommendations to be based on sound methodology and responsible risk management. Advising a client to remove a risk control mechanism during a losing trade conflicts directly with this requirement. Three independent reviewers describe this specific conduct from Wise Global Research representatives.
Yes. SEBI caps the combined annual fee from one registered Research Analyst at ₹1,51,000 per client family. ₹3,50,000 exceeds this by more than double. If paid within a single financial year, the excess is recoverable through a formal SEBI SCORES complaint under the fee cap violation ground.
No. SEBI's Schedule III explicitly prohibits guaranteed return claims. SEBI's Regulation 15 prohibits loss recovery assurances. Any representative of a registered Research Analyst who makes these promises is violating the regulations that govern the registration.
Go to scores.sebi.gov.in. Select Research Analyst as the intermediary type. Enter registration number INH000016719. Describe the specific conduct in your complaint, whether it is fee cap violation, stop-loss removal advice, or guaranteed return promises. Attach payment records and communication evidence. Filing is free.
Add us as a preferred source on Google »
