Many investors look for research-backed advice before making decisions about the market. As they search online, platforms like Research Mart often come up with their findings.
These platforms typically position themselves as offering market analysis and useful insights for trading. To a regular investor, such services might seem helpful at first.
However, it’s important to understand can we trust SEBI-registered Research Analyst, as these platforms present themselves before getting involved further.
At the same time, investors need to be careful while using these research platforms.
Not all services operate the same way or follow similar processes. Being clear about what information is available, how it’s shared, and being aware of any regulations are crucial.
That’s why investors should take a moment to carefully review the details. This helps them make smarter and more responsible choices with their money.
Research Mart Review
Research Mart operates under the legal name Research Mart Services Private Limited and is registered with SEBI as a non-individual research analyst under registration number INH000009694.
The firm functions through a corporate structure and provides research-based services across equities, commodities, currencies, and indices.
Headquartered in Navi Mumbai, it serves retail investors as well as high-net-worth individuals with a focus on technology-driven research, data analysis, and technical insights.
Its research outputs typically include entry levels, target targets, and stop-loss recommendations, particularly for intraday and short-term strategies.
These insights are delivered through its mobile application and detailed research reports.
The company is led by its CEO Prakhar Bagora, and Director Garima Ostwal, who oversee its research operations and strategic direction.
Research Mart also maintains an active digital presence across platforms like Instagram, LinkedIn, Twitter, and Facebook to share market insights and engage with investors.
As an SEBI-registered research analyst entity, its services and operations are governed by regulatory guidelines that define what it can offer and the compliance standards it must follow.
What a SEBI-Registered Research Analyst Is Authorized to Do?
Research Analysts (RAs) operate under the SEBI (Research Analysts) Regulations, 2014 and are required to follow strict compliance rules while offering research-based services.
1. Publication of Research Reports
A registered analyst can prepare and distribute structured research reports on listed companies or market segments.
These reports generally cover:
- Fundamental and technical analysis
- Industry and sector outlook
- Financial performance review
- Company valuation assessment
- Key assumptions along with associated risks
All research content must be factual, supported by data, unbiased, and accompanied by clear disclosures regarding conflicts of interest, holdings, or relationships that may influence recommendations.
2. Providing Investment Recommendations
Analysts are allowed to issue buy, sell, or hold recommendations based on proper research and documentation.
However, such advice must:
- Be backed by verifiable analysis
- Include clear risk warnings
- Avoid language that suggests guaranteed results
- Clearly state that market outcomes remain uncertain
The focus must remain on research-driven guidance rather than sales promotion.
3. Offering Market Analysis and Insights
Research Analysts may share analytical views on:
- Individual stocks
- Market movements
- Specific sectors or investment themes
- Macroeconomic trends
- Derivative strategies from an analytical perspective
Their role is advisory in nature. They are not permitted to manage client funds or execute trades on behalf of investors.
4. Charging Fees Within Regulatory Limits
Fees for research services are permitted as long as they comply with SEBI guidelines.
Key requirements include:
- Transparent fee structure disclosed upfront
- Written agreement with clients
- No linkage between fees and trading profits
- No performance-based or profit-sharing arrangements
This ensures independence in research and prevents conflicts of interest between compensation and investment outcomes.
What SEBI Regulations Do Not Allow Research Analysts to Do?
SEBI clearly defines boundaries to protect investors and maintain market integrity.
1. Promising Guaranteed Profits
Analysts cannot claim fixed returns, assured profits, or risk-free investment opportunities.
Since financial markets involve uncertainty, any statement suggesting guaranteed income is considered misleading — even if profits occur in practice.
2. Assuring Loss Recovery
It is prohibited to promise investors that past trading losses can be recovered.
Analysts cannot:
- Guarantee compensation for losses
- Claim success through “risk-free” recovery strategies
- Suggest that experience eliminates market risk
Such claims create unrealistic expectations and violate regulatory principles.
3. Performance-Based Fee Models
Compensation cannot depend on client profits or capital growth.
Prohibited structures include:
- Profit-sharing arrangements
- Fees calculated as a percentage of trading gains
- Charges deducted directly from profits
These models create potential bias and encourage excessive trading, which regulators restrict to maintain fairness.
4. Aggressive Marketing Practices
SEBI promotes transparency and independent decision-making.
Unacceptable practices include:
- Repeated unsolicited calls
- Creating artificial urgency to force subscriptions
- Ignoring or minimizing risk disclosures
- Pressuring clients into immediate payments
Even registered entities must follow ethical marketing standards.
5. Lack of Proper Documentation and Disclosures
Research Analysts must provide clear written agreements and transparent communication.
Clients should receive:
- Detailed description of services
- Complete risk disclosures
- Clear explanation of fees
- Defined service limitations
Failure to maintain proper documentation may result in regulatory violations.
What To Do If You Face Issues With a Research Analyst?
If you feel that a research firm has misled you, violated compliance norms, or failed to deliver services as promised, take action carefully and systematically.
Understanding the right steps can help investors stay calm and handle the situation properly.
Steps to report:
- Collect evidence: Gather things like call logs, WhatsApp messages, payment receipts, bank statements, emails, and screenshots.
- Lodge a Complaint in SCORES: Submit a complaint through the SCORES portal with all necessary details.
- File a Complaint the Stock Exchange: File a complaint on BSE or NSE, if your trades were made through their investor grievance system.
Need Help?
If you face any issues with your Research Analyst, such as a lack of response after payment, unclear communication, or concerns about services, it is important to take timely and structured action.
Situations like these can feel confusing and stressful, especially when you are unsure about the next steps. Many investors hesitate because they do not know where to begin or how to properly raise their concerns.
You do not have to handle it alone.
Reach out to us, we’re here to help you every step of the way through the reporting process.
Our team can help you gather documents, write a clear complaint, and submit it through the right channels.
We’ll support you from the first time you send something until you get a response or need to take it further.
You don’t have to go through this alone. We’ll be with you until the process is complete.
Conclusion
When exploring research platforms like Research Mart, investors naturally look for clarity, transparency, and regulatory backing before making any financial commitment.
In today’s digital environment, many research-based services present market insights and trading ideas online. While such platforms may appear informative, investors should take time to understand how the firm operates, what services are actually offered, and how clearly risks and responsibilities are communicated.
Verifying SEBI registration, reviewing disclosures, understanding the fee structure, and assessing communication practices are essential steps before subscribing to any service.
No matter how promising a platform may seem, investors should remain cautious of unrealistic claims and always keep proper documentation of payments, agreements, and communications.
Ultimately, financial safety depends on awareness and informed decision-making. Taking a few extra steps to review details carefully can help investors protect their interests and make more confident, responsible choices in the market.
