Quick Summary
NextEdge Research is run by proprietor Mahaveer Jain, a SEBI registered Research Analyst under number INH000019910, active since February 24, 2025, operating from Indore. Every Buy Now button on its pricing page leads not to a payment gateway but to a bank details page, where the listed UPI identifier does not follow the format a genuine HDFC Bank handle would use. Its refund policy states flatly that no refunds are issued, then contradicts that statement in the very next paragraph. Its Terms and Conditions instruct clients to trade on every recommendation while separately disclaiming liability for their own misrepresentation. Its complaint data shows fifteen straight months of zero activity, broken by exactly one complaint in June 2026. This page covers each finding in order.
Every single plan on NextEdge Research’s pricing page routes through a Buy Now button that leads nowhere near a payment gateway.
It leads instead to a page showing a bank account and a UPI handle that does not match the format a genuine bank identifier actually follows.
This review verifies the registration behind NextEdge Research, checks its pricing and promotional language, and works through a payment page, a refund policy, and a set of Terms and Conditions that each raise their own separate questions.
Is NextEdge Research SEBI Registered?
Yes. NextEdge Research is run by proprietor Mahaveer Jain, who holds an active SEBI Research Analyst registration under number INH000019910, valid from February 24, 2025, on a perpetual basis.
The firm also carries a BSE Enlistment Number of 6544 and GST registration 23BMDPJ8090F1Z5.
Its registered address is Office No. 213, Princes Business Skypark, Opposite Orbit Mall, Vijay Nagar, Indore, Madhya Pradesh, 452010.
That registration is genuine and independently verifiable on SEBI’s own website.
What it does not confirm is whether the way NextEdge Research actually collects payments, writes its policies, and discloses its complaint history holds up to the same standard, which is what the rest of this page checks.
What Services and Pricing Does NextEdge Research Offer?
NextEdge Research offers six identically priced services, plus a seventh tier sold on a different structure entirely.
| Service | Monthly | Quarterly | Half Yearly |
|---|---|---|---|
| Stock Cash | ₹15,000 + GST | ₹40,000 + GST | ₹75,000 + GST |
| Stock Future | ₹15,000 + GST | ₹40,000 + GST | ₹75,000 + GST |
| Stock Option | ₹15,000 + GST | ₹40,000 + GST | ₹75,000 + GST |
| Index Option | ₹15,000 + GST | ₹40,000 + GST | ₹75,000 + GST |
| Index Future | ₹15,000 + GST | ₹40,000 + GST | ₹75,000 + GST |
| Commodity MCX | ₹15,000 + GST | ₹40,000 + GST | ₹75,000 + GST |
Every one of these six services carries the exact same price at every billing frequency, regardless of whether the underlying instrument is equity, an index, or a commodity.
A seventh tier, Edge 360, breaks from this pattern entirely, sold only as a yearly plan at ₹30,000 plus GST with no monthly or quarterly option.
Six genuinely different market segments priced identically down to the rupee is not impossible to justify.
But it is unusual enough to be worth asking the firm directly how each price was actually calculated, rather than assuming a single flat figure was simply applied across every service on the page.
Also Read: Kirti Saraf, an RA who disclosed pricing on Telegram but not on the website.
Does NextEdge Research’s Marketing Use Language SEBI Discourages?
The homepage and Services page lean on a specific phrase repeated across multiple product descriptions.
“Capture high-reward opportunities” appears, word for word, in the descriptions for Stock Future, Stock Option, Index Option, Index Future, and Commodity MCX, each time framing the underlying market as an opportunity to be captured rather than a risk to be managed.
The About Us page adds two more promotional phrases worth examining.
It states the firm provides actionable insight and that its purpose is to help our clients to succeed.
Both are framed in a section highlighted directly on the page itself.
Language emphasising reward, opportunity, and client success, repeated across nearly every service description on the site.
It sits closer to a sales pitch than the disciplined, risk-first framing SEBI expects from a registered Research Analyst’s public communication.
Why Does NextEdge Research’s Payment Page Skip a Gateway Entirely?
This is the most concrete, checkable finding on this page, and it deserves a closer look than a passing mention.
The Buy Now button on every single plan leads to the site’s own Bank Details page, rather than to any checkout process or payment gateway.
That page displays a bank account directly: Bank Name HDFC Bank, Account Name NextEdge Research, Account Number 50200092545396, IFSC Code HDFC0006516.
Below the account details sits a UPI identifier reading “nextedge.ra@validhdfc.”A genuine HDFC Bank UPI handle ends in @hdfcbank, not @validhdfc.
The identifier shown does not follow the standard format that bank actually issues, which means a client paying based on this page cannot rely on the handle itself as confirmation that the payment is going through HDFC’s own verified UPI system.
Collecting fees through a direct bank transfer rather than a proper payment gateway is not automatically prohibited, but skipping a gateway removes a layer of transaction verification a client would otherwise have.
Combined with a UPI identifier that does not match its stated bank’s actual naming convention, this page is worth confirming directly with the firm, ideally through a call to the number on SEBI’s own registration record, before any payment is sent.
Does NextEdge Research’s Refund Policy Actually Say What It Means?
The Refund Policy opens with a flat, unambiguous statement: “we maintain a no-refund policy for services already availed.
Once a payment is made, it is considered final, and no refunds will be issued.”
The very next paragraph on the same page reads differently. It states that, as per SEBI guidelines, a client requesting cancellation may be eligible for a refund covering the unused portion of the subscription period, calculated on a pro-rata basis.
A policy that states no refunds exist, then states in the next sentence that a pro-rata refund does exist, gives a client two contradictory answers to the same question.
This same contradiction, worded identically, is repeated a second time on the separate Disclaimer page, which suggests it was copied rather than reviewed for consistency before publishing.
If you believe any Research Analyst is publishing refund terms that contradict themselves, the complaint against SEBI registered research analyst page on this site covers how to raise that formally.
Do NextEdge Research’s Terms and Conditions Hold Up?
The Terms and Conditions page carries several clauses worth reading closely before you rely on any of them.
1. An Instruction to Trade on Every Single Call
Under a section titled Client Responsibility for Trades, the page states plainly: “Clients are advised to trade on each and every recommendation for the best possible results.”
This sits directly beside other clauses on the same page stating the firm does not guarantee profits and that clients bear all risk.
Advising a client to act on every recommendation without exception, while separately disclaiming any responsibility for the outcome, pulls the document in two different directions on the same core question of how a client should actually use the service.
2. Support Available Only by Scheduled Call
Trade recommendations are delivered exclusively through text message.
If a client wants to raise an issue after paying, the process requires waiting for a scheduled call rather than reaching someone directly.
A service built entirely around one-way text delivery, with live conversation available only by appointment, is worth weighing against what a client actually expects to receive for the fee charged.
3. A Disclaimer for the Firm’s Own Misrepresentation
The Terms state that NextEdge Research is “not responsible for any misrepresentation or false advertising related to the services provided.”
A clause disclaiming responsibility for the firm’s own misrepresentation is attempting to waive accountability for exactly the kind of claim this review has already found reason to question, the promotional language covered earlier on this page among them.
What Does NextEdge Research’s Complaint Data Show?
SEBI requires every registered Research Analyst to publish current, month by month complaint data.
The monthly trend table shows zero complaints received and resolved for nearly every month from April 2025 through July 2026.
The one exception across this entire span is June 2026, which shows exactly one complaint received and one resolved.
| Period | Received | Resolved | Pending |
|---|---|---|---|
| April 2025 – May 2026 | 0 | 0 | 0 |
| June 2026 | 1 | 1 | 0 |
| July 2026 | 0 | 0 | 0 |
The annual summary table tells the same story from a different angle, showing zero complaints carried forward, received, resolved, or pending across both the 2024-25 and 2025-26 reporting years combined.
Fifteen straight months of recorded silence, broken by one complaint resolved the same month, is a thin data set to draw many conclusions from either way.
It confirms the firm is publishing the disclosure SEBI requires, but a table this sparse says little about how the firm would actually respond if complaint volume ever increased.
How Do You File a Complaint Against NextEdge Research?
If your experience with NextEdge Research has not matched what its pricing page or promotional language promised, particularly around the payment process or the refund terms, a formal path exists to raise it.
Start by saving your payment confirmation from the bank transfer, screenshots of the Bank Details page and the UPI identifier shown on it, and any messages or recommendations you received.
Write to the firm directly first, using the compliance email on SEBI’s own registration record, and allow a reasonable window for a response before escalating.
If the response is unsatisfactory, file a SEBI SCORES complaint using registration number INH000019910, attaching your payment proof and the screenshots supporting your case.
But if SCORES does not resolve the matter, the SMART ODR portal offers structured online mediation as the next stage.
Both sides submit their case online, and most disputes with clear documentation settle at this stage without needing to go further.
If mediation still does not settle things, the arbitration in stock market page on this site covers the final, binding stage of the process.
Paid through a bank transfer that didn’t match what NextEdge Research promised?
We check your payment records against the specific gaps found on this site, confirm whether it qualifies as a valid complaint, and prepare your SCORES filing from start to finish. Register with us for a free consultation.
Conclusion
NextEdge Research operates under a genuine SEBI registration held by Mahaveer Jain, and that registration is easy enough to confirm directly on SEBI’s own website.
Everything else worth knowing sits in the details: identical pricing across six market segments, promotional language repeated across nearly every service, a payment page that skips a gateway entirely.
Alongside, a UPI handle that doesn’t match its bank’s format, a refund policy that contradicts itself twice, and Terms and Conditions that demand action on every call while disclaiming responsibility for the firm’s own claims.
Verify the registration yourself, confirm the payment channel directly with the firm before sending any money, and read the refund policy in full rather than the opening line alone.
Report, Recover, Stay FraudFree
Frequently Asked Questions
Yes. Mahaveer Jain holds SEBI Research Analyst registration INH000019910, active since February 24, 2025 on a perpetual basis, operating NextEdge Research from Indore, Madhya Pradesh.
No. Every Buy Now button on its pricing page leads to a Bank Details page showing a direct bank transfer option rather than a checkout process or payment gateway.
The identifier shown, nextedge.ra@validhdfc, does not follow the standard format a genuine HDFC Bank UPI handle uses, which typically ends in @hdfcbank. Confirm the payment channel directly with the firm before paying.
Its Refund Policy opens by stating no refunds are issued, then states in the next paragraph that a pro-rata refund is available for the unused portion of a subscription, a contradiction repeated on its Disclaimer page as well.
Its disclosure shows zero complaints for nearly every month between April 2025 and July 2026, with exactly one complaint received and resolved in June 2026.
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