Reliance Securities is a stock brokerage firm in India that helps people invest and trade in the stock market. It is part of the Reliance Capital group.
If someone wants to buy or sell shares, they usually need a broker like Reliance Securities to place the trade on exchanges such as the National Stock Exchange of India or the Bombay Stock Exchange.
Through its trading platforms, people can invest in shares, derivatives, and mutual funds.
The firm also provides market research and tools that help investors make decisions while trading or investing.
Despite being a household name in India, even Reliance is far from perfection based on the issues users face with this platform- take unauthorised trading as an example.
Unauthorised trading refers to a situation where a broker trades using a client’s money without the client’s consent.
In recent years, a pattern has been noticed regarding the same.
Reliance Securities Unauthorised Trading Complaints
The first table compares the number of clients with the number of complaints received each financial year and how those complaints were handled by the broker.
| Financial Year | Total clients | No. of complaints | % of complaints w.r.t. Total clients | Resolved complaints | % of resolved w.r.t. complaints | Arbitrations |
| 2022-23 | 72976 | 47 | 0.06 | 44 | 93.61 | 5 |
| 2023-24 | 72976 | 72 | 0.09 | 63 | 87.50 | 1 |
| 2024-25 | 63418 | 89 | 0.14 | 89 | 100 | 0 |
| 2025-26 | 49795 | 82 | 0.16 | 65 | 79.29 | 1 |
The overall trend paints a quite concerning picture of the platform.
The total number of clients has been on a constant decline as the years progress- all the while, complaints keep rising.
Even the resolution rate for the complaints has been dwindling. The 100% resolution in 2024-25 was quite a feat; however, the instant fall in the following years is quite disappointing.
Between the low resolution rates and the spike in legal arbitrations, the data is clear: users are leaving because the platform is failing them.
It’s a worrying trend that demands immediate attention.
| Financial Year | No. of complaints | No. of unauthorised trading complaints | % of unauthorised trade w.r.t. complaints |
| 2022-23 | 47 | 5 | 10.63% |
| 2023-24 | 72 | 4 | 5.56% |
| 2024-25 | 89 | 16 | 17.97% |
| 2025-26 | 82 | 17 | 20.73% |
The level of unauthorised activities on the platform was quite low in 2023-24 but rose rather fast in 2024-25 and has been on the increase ever since.
The portion of complaints against unauthorised trading reached a shocking high in 2025-26.
Even while looking at just the number of complaints against the same, the fact that the problem continues to rise cannot be discounted.
How to Complain Against a Stock Broker?
It is advisable to take action as soon as you possibly can to avoid any distortion of facts and before the broker can claim that you gave ‘silent consent’.
First, find proof of unauthorised trading from your email/ SMS. Your broker sends you emails for every trade; check them every 24 hours.
To complain to the broker, do it within a week. And for an official complaint with SEBI, the recommended time period is within the first year.
Regulators may take action if the broker is unable to produce proper order evidence when it is requested.
Action can be taken when:
- Trades are executed without your permission.
- The broker refuses to provide trade confirmations or call recordings.
- There are unexplained losses due to trades you never approved.
- The broker ignores your complaint or fails to resolve the issue.
- There is a clear misuse of trading authority or account access.
Action may also follow if arbitration proceedings conclude that trades were carried out without the client’s authorisation.
Remember, your silence in this matter will be seen as compliance, and you might lose grounds to complain. So take the right steps before it is too late.
What Can You Do in Such Cases?
Seeing your funds handled without your knowledge or consent can be a rather stressful situation. To overcome this, you must bring the matter to light.
But how? The answer is simple:
1. Collect Proof
If you notice any sudden changes in the money in your account or receive emails or messages regarding a trade you did not make, your money might have been unauthoritatively traded.
Compiling proof of such actions in the form of screenshots, call recording, emails/SMS, contract note, etc will make the grounds on which you file your complaint.
2. Contact the Broker
Once you have everything ready, reach out to the broker through their contact information available on their official website first to see if they could resolve your issue.
Remember to submit all evidential documents.
3. File a Complaint Through SCORES
If the broker does not corroborate, file an official complaint on SCORES- SEBI’s online complaint redressal platform.
Making an official complaint will most definitely compel the broker to respond to your grievances formally.
4. Stockmarket Arbitration
If the dispute remains unresolved at the broker level, you can escalate the matter by initiating arbitration proceedings through the relevant stock exchange (such as NSE or BSE).
For complaints involving financial loss or professional negligence that haven’t been settled, you can file a complaint in SMART ODR.
This platform streamlines the dispute resolution process by connecting you with independent conciliators and arbitrators digitally.
Need Help?
Facing issues related to unauthorised trading in your account?
- Review your trading records and identify suspicious transactions
- Organise documents such as contract notes, emails, and account statements
- Assist in drafting and filing complaints with brokers and regulatory platforms
- Help in filing a complaint at SEBI
- Track the SEBI complaint status.
With the right guidance and documentation, resolving such issues becomes much easier. Our team supports investors through every stage of the complaint and dispute resolution process.
Reach out to us today for assistance.
Conclusion
Looking at the data as a whole, it becomes clear that these numbers are not just statistics. They reflect repeated situations where investors have raised concerns about how their accounts were handled.
Even if the percentages appear modest, the presence of these complaints across different periods suggests that the issue deserves closer attention.
For investors, this is a reminder to regularly review their trade history and account statements. Small irregularities can sometimes point to bigger problems if they are left unchecked.
