Stock Market Research and Services is a trading advisory platform that provides market-related services to retail traders.
The platform mainly focuses on trading calls, options recommendations, and market updates for active traders.
In this blog, we will look at Stock Market Research and Services, its SEBI registration details, user complaints, and what retail traders should learn before paying for any advisory subscription.
Stock Market Research and Services Review
Stock Market Research and Services is a financial advisory firm operating under the sole proprietorship of Vikash Sharma.
The entity primarily appears to provide market research, trading recommendations, and short-term trading calls for retail traders.
Its services seem largely focused on high-activity market segments like intraday trading, options trading, Nifty, and Bank Nifty strategies. The business is based in Guna, Madhya Pradesh.
Firm Details:
| Proprietor | Vikash Sharma |
| Entity Name | Stock Market Research & Services |
| Address | H.No. B-1, New Royal Residency, Shukla Colony, Guna, Madhya Pradesh – 473001 |
The firm appears to offer trade alerts, market analysis, and entry-exit recommendations through subscription-based services.
Like many advisory businesses in India, the platform seems targeted mainly at retail traders looking for ready-made market opportunities instead of conducting their own research.
Is Stock Market Research and Services SEBI Registered?
Stock Market Research and Services operates under the sole proprietorship of Vikash Sharma, who is a SEBI-registered research analyst.
His SEBI registration number is INH000016153.
However, traders should understand something very clearly. SEBI registration is not a guarantee of profits.
It is crucial to understand what a SEBI registered research analyst is allowed to do versus what they cannot do.
It simply means the entity is registered under the regulatory framework and is expected to follow compliance rules related to disclosures, communication standards, grievance handling, and conduct.
Before paying any advisory firm, investors should independently verify a SEBI registered research analyst registration status directly from SEBI’s intermediary database.
Traders can search using:
- The proprietor’s name
- The firm’s name
- The registration number
on the official SEBI intermediary portal.
This should always be the first step before paying even a single rupee to any research or advisory service.
Stock Market Research and Services Complaints
Many users have posted negative reviews online about Stock Market Research and Services. Most complaints revolve around delayed trade alerts, losses, poor support, and dissatisfaction after payment.
Here are some major complaints shared by users.
1. Trades Arrived Late and Required High Capital
One reviewer strongly warned others not to purchase the service.
According to the complaint, trade alerts often arrived late, because of which several trades got missed. The user also claimed that only a limited number of trades were actually received during the day.
The reviewer further mentioned that some trades required high capital, especially option-selling trades in Nifty.
According to the user, traders with smaller capital may struggle to follow such recommendations properly.
2. Stop Losses Hit Frequently
Another reviewer described the service as extremely poor and claimed stop losses hit more often than targets.
The user alleged that profitable trades were highlighted quickly, while losing trades were not discussed openly.
3. Promised Calls Were Not Provided
One reviewer claimed the company promised around 5–6 trading calls daily before payment.
However, according to the complaint, the promised number of calls was never actually provided after the subscription.
The reviewer also claimed the service quality did not justify the subscription fees paid.
In reality, no advisory service can guarantee profits every day.
4. Login and Support Problems
Another reviewer described the service as a waste of money, time, and energy.
According to the complaint, the app required repeated logins, and customer support became poor after the subscription.
The reviewer also questioned whether some positive ratings were genuine.
Reading these complaints, many investors find themselves asking: can I trust a SEBI registered research analyst? Registration sets a baseline of accountability, but it does not guarantee the quality of service you will receive.
What Do These Complaints Mean in Regulatory Terms?
The four complaints described above are not just negative reviews. Together they form a recognisable pattern, and that pattern is exactly what a formal complaint is built on.
Here is what each complaint actually means from a regulatory standpoint:
- Delayed trade alerts that caused missed trades: When a service sells you on timely signals and consistently delivers them late, the gap between what was promised at subscription and what was actually delivered is documentable. That gap is the basis of a misleading representation complaint.
- Stop losses hitting more often than targets, while only winning trades were highlighted: Selective performance showcasing is a recognised violation under SEBI’s framework. If the platform promoted only profitable calls during marketing while losses were quietly absorbed by subscribers, that one-sided picture created unrealistic expectations before you paid.
- Promised call count never delivered after payment: If you were told you would receive 5-6 calls daily and consistently received fewer, that is a specific, provable mismatch between what was sold and what was delivered. Subscription receipts, chat records, and daily trade logs together document this clearly.
- Poor support after payment: While this alone may not constitute a regulatory violation, combined with the above patterns, it strengthens the overall picture of a service that prioritised subscription revenue over client outcomes.
None of these issues needs to be proven beyond a doubt before you file.
You file with what you have. The complaint process exists to examine exactly these kinds of disputes, and a well-organised record of even one of these issues is enough to start.
How to File a Complaint Against a Research Analyst?
If you face misleading communication, poor service, or heavy losses after joining an advisory platform, proper documentation becomes very important.
1. Save Every Proof
Keep all payment receipts, WhatsApp chats, Telegram messages, screenshots of recommendations, emails, and bank transaction records safely.
These records become very important during complaint proceedings.
2. Send Written Complaint to the Company
Before escalating the matter, first send a proper written complaint directly to the company.
Clearly mention the service purchased, the amount paid, the issues faced, and the resolution you expect. Always keep copies of all communication.
3. File a Complaint with SCORES
If the issue remains unresolved, investors can file a complaint on the SEBI SCORES platform. Attach all supporting documents and explain the issue properly while filing the complaint.
A structured complaint with proper proof usually carries more value than emotional allegations without evidence.
4. Lodge a Complaint with SMART ODR
Investors can also use SEBI’s SMART ODR platform for online dispute resolution.
This platform helps investors and intermediaries resolve disputes through mediation and conciliation in a structured manner.
5. Share Market Arbitration
If the financial loss is large and proper evidence is available, investors may also explore arbitration proceedings where applicable.
Arbitration may become important in cases involving large financial losses or serious disputes related to advisory services.
Before starting arbitration, it is always better to organise all records properly.
Need Help?
If you subscribed to any research advisory service and suffered losses or misleading conduct, proper guidance can help you build a stronger complaint.
So, if you have encountered losses due to the misconduct of SEBI RA, then start with organising proof.
Not sure how to start?
Register with us, and we will guide you through the entire process.
Conclusion
If you’ve experienced issues like the ones mentioned here, such as delayed trade alerts, unexpected losses, or poor support, please remember that you have rights as an investor.
Don’t just sit with frustration or accept bad service.
Delayed alerts. Stop losses hit more than targets. Promised calls that never came.
If any of this matches your experience with Stock Market Research and Services, your subscription receipt and chat records are enough to start a formal complaint.
Don’t wait for that evidence to disappear.
Frequently Asked Questions
1. The platform promised 5-6 trading calls daily but I consistently received 2-3 after paying. Can I complain about that?
Yes. The number of calls promised before subscription is a specific, verifiable commitment.
If your chat records or promotional material show that promise and your actual trade logs show fewer calls delivered, that gap is documentable evidence of a mismatch between what was sold and what was provided.
Include both in your complaint.
2. My stop losses kept hitting while the platform only highlighted winning trades in their promotions. Does that matter for my complaint?
It does. Selectively showcasing only profitable calls while losses remain undisclosed is a misleading marketing practice under SEBI’s framework.
If what you saw before subscribing was a one-sided performance record, and the experience was significantly different, that contrast is relevant to your complaint.
3. I paid a large subscription fee but my trading capital was small. The recommendations required capital I didn’t have. What can I do?
A SEBI-registered research analyst is expected to understand client suitability. If recommendations were consistently unsuitable for your capital size and that was never disclosed before subscription, raise it specifically in your complaint.
Include the subscription amount, your capital size, and examples of recommendations that required capital beyond your capacity.
4. I noticed some positive reviews for this platform that seemed fake. Can I mention that in my complaint?
You can note it as context, but it should not be the centre of your complaint. Focus on what you personally experienced and can document: payment records, chat logs, trade alerts received versus promised, and losses incurred.
Fake reviews are difficult to prove independently. Your own documented experience carries far more weight.
5. What should I do if the advisory firm ignores my complaints about false profit claims?
If your initial written complaint to the firm goes ignored or receives an unsatisfactory response, do not delay in escalating the matter.
Gather all evidence of the promised versus actual performance, such as screenshots of “guaranteed” profit claims, and file a formal grievance on the SEBI SCORES portal or the SMART ODR platform to initiate a structured dispute resolution process.
