Quick Summary
Initial Claim: ₹2,75,000, covering the software fee and the trading loss that followed Core Violation: A group with no SEBI registration sold an algorithmic trading tool promising fixed daily profits, linked it directly to the client’s trading account, and produced continuous losses instead. Forum Used: Direct engagement and documentation pressure, since the sellers hold no SEBI registration to complain against formally. Recovery Secured: ₹1,65,000, roughly 60 percent of the claim. Deepak Randive (name changed) is from Aurangabad, Maharashtra. He was not sold advice. He was sold a piece of software with a number attached to it, fifty to sixty thousand rupees a day, guaranteed.
Deepak was approached by individuals marketing an automated algo trading tool.
They described it in concrete, specific terms: a system that would generate consistent daily profits somewhere between fifty and sixty thousand rupees.
He paid ₹1,65,000 for the software.
It was linked directly to his trading account and began placing trades automatically, without any further review or intervention required from him.
Unregistered Algo Trading Software: No SEBI Certification
SEBI’s framework for algorithmic trading requires any such software to be certified and authorised through exchanges or brokers before it can legitimately execute trades on a client’s behalf.
This tool carried none of that certification.
The group selling it held no SEBI registration of any kind.
There was no licensed entity standing behind the promise, no regulatory body accountable for what the software actually did once it was running.
Cases built around software or platforms operating entirely outside SEBI’s registration framework often fall under a broader complaint against unregistered SEBI intermediaries, since the fraud typically spans marketing, sale, and execution all outside any licensed structure.
From Daily Profits to Capital Erosion: How the Software Failed?
Rather than the promised daily profit range, the software produced continuous losses from very early on. Deepak’s trading capital eroded steadily as the automated trades continued to execute.
When he raised concerns, the sellers did not pause the software or acknowledge the pattern. Instead, they pressured him to deposit additional funds to keep the system running.
He refused any further payment once the pattern became clear.
A Fraudulent Pattern Beyond a Single Investor
In the course of raising his own complaint, Deepak found indications that this same group had run a similar scheme against other traders, using the same fixed daily profit promise and the same unregistered software.
A pattern repeated across multiple victims strengthens a case considerably, since it shows the fraudulent structure rather than a single unfortunate trading outcome.
How Fraud Free Processed the Algo Recovery Case?
With no SEBI registration to anchor a formal regulatory complaint against, this case needed direct documentation and pressure rather than a standard filing process.
Step One: We Documented The Specific Profit Promise
The exact daily profit range promised in the original marketing was preserved word for word, since a fixed numeric promise is far harder for a seller to explain away than a vague assurance of good returns.
Step Two: We Confirmed The Absence Of Any Certification
We checked the software against SEBI’s algorithmic trading framework requirements and confirmed no certification or broker level authorisation existed for it at any point.
Step Three: We Mapped The Trading Losses Against The Software’s Activity
Every trade executed by the software was matched against Deepak’s account statements, showing a direct line between the automated activity and the capital erosion that followed.
Step Four: We Compiled Evidence Of The Wider Pattern
References to other affected traders were documented as supporting context, reinforcing that this was a structured scheme rather than an isolated bad outcome.
Step Five: We Built A Complete Documentation Package For Direct Engagement
With no licensed entity to file a formal SEBI complaint against, our team compiled every payment record, promotional message, and trading statement into a package ready for direct pressure on the individuals involved.
Step Six: We Pursued Direct Recovery Through Sustained Follow Up
Using the documented promises and losses as leverage, our team maintained direct contact with those responsible, pushing consistently toward a resolution outside any formal regulatory channel.
Sold An Algo Tool That Promised Fixed Daily Profits? Our Team Can Help
We will document the exact promise made, confirm whether the software was ever actually certified, and push directly for recovery when no licensed entity exists to complain against.
How We Helped Deepak Recover ₹1,65,000 From an Unregistered Algo Software Sale?
Deepak’s claim stood at ₹2,75,000, covering the software fee paid and the trading loss that followed once the tool began executing trades.
Through sustained direct engagement, the matter was resolved with a recovery of ₹1,65,000, roughly 60 percent of the total claim.
Conclusion
If a piece of trading software was ever sold to you with a specific daily profit number attached, treat that number as a warning sign, not a guarantee.
Because these uncertified sellers operate outside legal frameworks, victims cannot simply file a SEBI SCORES complaint. Instead, recovering funds requires thorough trade documentation, preserving promotional promises, and applying direct pressure.
If you fell victim to an unregistered algo trading scheme, document every transaction and contact our team immediately for structured support.
Report. Recover. Stay Fraud Free.
Frequently Asked Questions
Algo trading itself is legal, but any software must be certified and authorised through exchanges or brokers under SEBI's framework. Uncertified tools sold directly to retail traders fall outside that protection.
Ask the seller directly for their exchange or broker level certification and verify it independently rather than relying on their own claims or marketing material.
Yes. No legitimate trading system can guarantee a specific profit figure every day. A fixed number attached to a promise is one of the clearest warning signs available.
Yes, though the path looks different. Recovery often relies on documented promises and direct pressure rather than a formal regulatory complaint, since no licence exists to file against.
Save the exact promotional language used, your payment confirmation, and your full account statement showing the software's trading activity.
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