When you search for “Profitmart Securities complaints,” you’re usually trying to answer a simple question: what has been the real client experience?
Behind every brokerage name, there are user reviews, support interactions, and public records. Together, these help form a clearer picture.
Profitmart Securities Pvt Ltd operates under the framework of SEBI and exchanges such as the NSE. Like all brokers, it has its own set of client feedback and complaint data.
This article examines these complaints in a structured and factual way. It helps you understand what they indicate and what they do not before making a decision.
Profitmart Securities Complaints Overview
Profitmart Securities Private Limited operates as a mid-size broker incorporated in May 2011, headquartered at Unit No. 213, Opal Square, Plot No. C-1, Thane East, Mumbai -400604.
The company holds SEBI Broker Registration No. INZ000093633.
The company operates under the brand name ProfitMart. It targets retail investors through its mobile app and relationship manager–driven model.
Profitmax is the primary mobile trading platform. It is branded under ProfitMart on Google Play. The app offers equity, F&O, commodity trading, and demat services in one interface.
Types of Profitmart Securities Complaints Clients File
Exchanges formally handle the following categories of investor grievances against registered brokers:
| Type | Description of Complaint Type | Count |
| Type I | Non-receipt / delay in payment | 28 |
| Type II | Non-receipt / delay in securities | 1 |
| Type III | Non-receipt of documents | 1 |
| Type IV | Unauthorized trades / misappropriation | 33 |
| Type V | Service related | 22 |
| Type VIII | IPO related | 1 |
| Type IX | Others | 39 |
Notably, Type I and Type IV complaints directly impact investors. They affect access to funds and control over trades, influencing both liquidity and confidence.
At the next level, the Investor Grievance Redressal Committee IGRC at NSE and BSE provides the first formal hearing mechanism beyond the broker.
Moreover, investors can appear before the IGRC without legal representation. This makes it the most accessible first escalation step for retail investors.
Profitmart Securities Exchange Complaint Data
The following data comes from NSE’s publicly available complaint monitoring records for Profitmart Securities Private Limited.
| Financial Year | Active Clients | Complaints Filed | Complaint % | Resolved | Unresolved | Arbitration Cases |
| 2025–26 | 26,882 | 24 | 0.089% | 23 | 1 | 0 |
| 2024–25 | 34,478 | 26 | 0.080% | 26 | 0 | 0 |
| 2023–24 | 40,193 | 19 | 0.040% | 19 | 0 | 2 |
| 2022–23 | 40,193 | 49 | 0.120% | 44 | 5 | 1 |
What This Data Really Means for Investors?
These numbers carry specific warnings for anyone evaluating Profitmart Securities. Does the pattern here match your own experience?
- Client base down, complaints steady: Active clients dropped ~33% (40,193 → 26,882), yet complaints remain at similar levels, indicating that issues persist despite fewer users, which can affect overall trust and perceived service quality
- 2022–23 spike stands out: A sharp rise to 49 complaints, along with unresolved cases and arbitration filings, highlights a period where investor grievances were significantly higher than usual
- Arbitration reflects escalation: The presence of arbitration cases shows that some disputes were not resolved through normal channels, forcing investors to pursue formal, time-consuming resolution processes
- Unresolved issues persist: Complaints still pending in 2025–26 suggest that not all investor concerns are being closed efficiently, leaving escalation as the only option in certain cases
The data points to consistency in complaint levels over time, suggesting that improvements in investor experience may not have kept pace with changes in client base.
Profitmart Securities Arbitration Case
According to Arbitration Matter No. NSEPUN/0014813/22-23/ISC/IGRP/ARB, Sole Arbitrator Mr. Surendra N. Ranade passed an award on October 23, 2023, directing Profitmart Securities Private Limited to pay ₹2,53,360 to the investor.
Case Background
The client opened an account with Profitmart Securities Pvt Ltd in April 2021 and was encouraged by an employee to invest ₹5.5 lakh in F&O trades with return expectations over 1–2 years.
Despite having no prior knowledge of such trading, she relied on the guidance and initially received regular payouts, creating confidence in the activity.
Later, access to detailed transaction data became limited, and upon reviewing her ledger, she identified multiple high-value debits and penalty charges.
She disputed these entries, stating no explicit authorization was given, and escalated the matter after partial relief at the initial grievance stage.
Final Order and Penalty
The case progressed to arbitration under the National Stock Exchange of India framework after dissatisfaction with earlier resolutions.
The arbitrator examined records and emphasized the broker’s responsibility to maintain proper client instructions before executing trades.
A final award directed the broker to compensate the client ₹2,53,360, holding it fully accountable for the disputed transactions.
What to Learn from This Case?
- A broker’s employee promising assured returns or fund doubling timelines constitutes a serious red flag, document every such conversation
- Profitmart Securities failed to produce pre-trade instruction records for the majority of offline transactions, the exchange found this “quite surprising” and the reason unacceptable
- The app stopping daily transaction visibility at precisely the time losses started is a pattern investors must watch for at any broker
- The arbitrator explicitly held that the Trading Member bears principal liability for any unauthorised trade, regardless of post-trade call confirmations
- Post-trade confirmation calls do not constitute valid pre-trade client consent under NSE rules, Profitmart’s claim to the contrary did not succeed
Profitmart Securities User Reviews
User reviews highlight recurring issues across app performance, support, and account handling.
1. Incorrect Price Display and Slow Performance
The user Ankur Sharma faced this issue, reporting incorrect price display, zero holdings at times, and repeated OTP/password prompts despite biometric login.
The user Dakshayani M faced this issue, mentioning frequent app freezes, lag during live markets, and delays in execution during high volatility.
2. Poor Customer Support Response
The user Al shifa faced this issue, stating that customer care was unresponsive and failed to provide proper assistance when contacted.
The user Dakshayani M faced this issue, also indicating lack of effective support in resolving repeated app-related problems.
3. Unauthorized or Unexpected Account Activity
The user Akbar faced this issue, alleging that trades were executed in his account without his consent by the mapped branch.
The user Vijay K faced this issue, reporting unexpected deductions and brokerage charges that significantly reduced his balance. It is a serious issue regarding Profitmart Securities excess charges.
User feedback points toward concerns around platform reliability, support responsiveness, and transparency in account activity. These concerns can fall under the Profitmart Securities unauthorised trading complaint.
When to Take Action Against a Broker?
Sitting on a dispute and hoping the broker fixes it costs investors money and legal standing. These six situations demand immediate action.
- Unauthorized Trading: Stop trading immediately, capture proof (ledger, contract notes), and file a written complaint within 24 hours to protect recovery chances
- Assured return promises: Treat any “guaranteed profit” claim by an RM or employee as a violation; document and report it without delay
- Unexpected brokerage charges: If charges don’t match agreed rates, raise it in writing the same day and demand clarification
- App failures during trades: Record outages with screenshots and timestamps, especially if they impact open positions or cause losses
- Unexplained balance decline: Check the ledger for hidden debits, penalties, or charges and escalate if no clear explanation is provided
- No resolution after 30 days: If complaints remain unresolved, escalate to exchange-level without further waiting
The guiding principle is this: document every grievance on the day it occurs, escalate in writing before calling, and never accept verbal assurances as resolution.
How To File a SEBI Complaint Against a Stockbroker?
If a dispute with Profitmart Securities Pvt Ltd is not resolved at the initial level, investors have a structured escalation pathway designed to ensure accountability.
Following these steps sequentially, while maintaining proper written records and evidence, significantly improves the chances of a timely and fair resolution.
Step 1: File A Detailed Written Complaint With The Broker
Begin by submitting a clear and comprehensive written complaint to the broker, including your client ID, specific transaction details, dates, amounts involved, and the exact resolution you are seeking.
Ensure all communication is documented via email or written format, as this creates a verifiable trail that becomes essential if the issue needs to be escalated further.
Step 2: Lodge a Complaint in SCORES
If the broker fails to resolve the issue within the expected timeframe, escalate it through the SCORES mechanism managed by Securities and Exchange Board of India.
This step brings the complaint under regulatory oversight, ensures it is formally recorded with timestamps, and requires the broker to respond within a monitored and structured process.
Step 3: File a Complaint in SMART ODR
If the response remains unsatisfactory, proceed to the SMART ODR system to initiate a more formal dispute resolution process that goes beyond basic complaint handling.
This stage allows for structured mediation and digital resolution mechanisms, helping address disputes in a more organized and time-bound manner before moving to legal proceedings.
Step 4: Arbitration In The Stock Exchange
As the final level of escalation, file for arbitration under the framework of exchanges such as the National Stock Exchange of India, where the matter is reviewed in detail.
Arbitration proceedings result in legally binding decisions based on submitted evidence, making this the most authoritative resolution mechanism available to investors.
Need Help?
Facing a broker who does not return your calls, cannot explain debits in your account, or refuses to acknowledge unauthorised trades is infuriating and we can help in this.
- Complaint Structuring And Documentation: We organize your case with proper timelines, ledger data, contract notes, and email records so your complaint is clear, complete, and ready for escalation
- Drafting Strong Written Complaints: We help draft precise, professional complaints that clearly define the issue, quantify losses, and state the resolution you are seeking
- Guidance Through Regulatory Escalation: We guide you step-by-step through escalation channels under SEBI, ensuring correct sequencing and submission
- Support In Arbitration Preparation: We assist in preparing a strong, evidence-backed case for arbitration, where outcomes are legally binding and depend on documentation
A structured approach, backed by documentation and timely escalation, improves your chances of a successful outcome.
Register with us if you face issues with Profitmart Securities or any other broker. We will help you take the right steps at the right time.
Conclusion
Profitmart Securities Pvt Ltd is a SEBI-registered broker (INZ000093633) with memberships across NSE, BSE, and MCX since 2011 but registration alone does not define reliability.
Regulatory and complaint records show past enforcement action in 2022, a spike of 49 complaints in 2022–23, and arbitration outcomes, alongside user feedback citing app issues, charge transparency concerns, and account-related disputes.
For existing clients, maintaining clear written records of trades and complaints is essential, while new investors should weigh this track record carefully before making a decision.
