If you’ve come across Stockifi on Instagram, YouTube, or Telegram — you’ve likely seen their promise of “multibagger” stock ideas, Diwali picks with 300%-450% returns, and their tagline “Investors Ka Dost” (Investor’s Friend).
Bold claims in India’s advisory space are common. What matters is whether the firm is properly registered, what it actually delivers, and what real subscribers say once the fee is paid.
This page covers everything: who runs Stockifi, their SEBI registration status, what their subscription costs, what the app offers, what real users report, and exactly what to do if something has gone wrong.
Stockifi Review
Stockifi is a SEBI-registered research analyst firm that markets itself as a long-term equity research service for retail investors, particularly the “middle-class Indian investor” looking to build wealth through multibagger stocks over multi-year periods.
Their primary product is fundamental equity research, identifying stocks with the potential for significant appreciation over 3-5 year horizons.
Their marketing leans heavily on Diwali stock picks, showing historical performance data like NAVINFLOUR (+450%), GRSE (+300%), and MAZDOCK (+125%) from previous years.
The firm operates across multiple platforms:
- Website: stockifi.in
- Telegram: 19,400+ subscribers
- WhatsApp advisory channel
- YouTube and Instagram under the PM Trades brand
On the surface, the credentials are in order. But a closer look at their own website reveals specific red flags worth examining before you pay, covered in detail below.
Abhijit Chokshi
Stockifi is founded and operated by Abhijit Chokshi, who serves as the sole proprietor of the firm.
Key details:
- Full entity name: Stockifi Abhijit Chokshi
- Registered address: YESH KRUPA, Shimpoli, Chikuwadi, Borivali West, Mumbai — 400092
- Compliance Officer: Mr. Kinnar Shah
Abhijit Chokshi built Stockifi’s brand around a conversational, trust-building persona, the “Investor’s Friend” who positions himself as a fellow retail investor rather than a corporate advisory firm.
Their free content on Telegram and social media, market education, scam warnings, and stock trivia is designed to build familiarity before converting followers into paid subscribers.
Why the proprietor’s name matters:
Under SEBI’s Research Analyst Regulations, the registered proprietor is personally accountable for all regulatory compliance.
If the firm violates SEBI rules, adjudication proceedings are initiated against Abhijit Chokshi individually in addition to the Stockifi entity.
This personal accountability chain is a relevant context for any investor evaluating the firm.
Is Stockifi SEBI Registered?
Yes, the firm holds a valid SEBI Research Analyst registration (Reg. No. INH000008376) and is officially registered at YESH KRUPA, Shimpoli, Chikuwadi, Borivali West, Mumbai – 400092.
You can verify this directly on SEBI’s official intermediary portal at sebi.gov.in by searching registration number INH000008376.
What this registration means and what it doesn’t:
SEBI registration as a Research Analyst authorises Stockifi to publish equity research reports and stock recommendations. It does not authorise:
- Guaranteed or assured returns of any kind
- Displaying specific return percentages from past recommendations as marketing claims
- Running referral or affiliate programs for subscribers
- Providing personalised investment advice (which requires a separate IA registration)
Stockifi Subscription Charges
Stockifi offers tiered subscription plans available on their website at stockifi.in/pricing. Exact current pricing is not publicly listed in search results and may be available only after logging in or contacting their team.
What is publicly known about their pricing structure:
- Entry point: Free content on Telegram and social media to build trust and familiarity
- Paid subscription: Access to detailed research reports, multibagger stock picks, entry price ranges, targets, and exit strategies
- Premium membership: Higher-tier plans available via WhatsApp (+91 86000 56288) — referenced in their own Telegram posts as giving “early access to all existing stock ideas”
Before paying any subscription:
Always get the following confirmed in writing before transferring any amount:
- The exact fee amount and what it covers
- The subscription duration (monthly, quarterly, annual)
- The refund policy if you choose to cancel
- Whether the fee is fixed or linked to any performance metric
Verbal assurances during sales calls are not binding. Get everything on email or in a written service agreement.
Stockifi App
Stockifi delivers its research and recommendations through multiple channels, including its dedicated Android application.
Their primary service delivery and communication channels include:
- The Stockifi Mobile App: Available on Google Play (published under Stockifi Investment Consultancy Private Limited), offering curated stock recommendations, real-time push alerts for new stock calls, and performance tracking directly on the user profile dashboard.
- Their Website: For accessing detailed research reports, subscription renewals, and the main subscriber dashboard.
- Telegram & WhatsApp: Used for broadcasting general free content, alerts, and providing early premium communication channel access to existing stock ideas.
Important note on Telegram-based advisory:
A SEBI-registered Research Analyst cannot use Telegram or WhatsApp as a live trading execution guidance channel.
Publishing general research reports is permitted, but sending real-time “buy now at this price” instructions to a group is a SEBI violation regardless of the platform used.
If your Stockifi subscription primarily consists of real-time Telegram trade calls rather than formal research reports, that service delivery method may fall outside the permitted scope of their SEBI registration.
Can You Trust Stockifi?
This is the question every prospective subscriber is really asking. Here’s an honest, evidence-based answer.
What works in Stockifi’s favour:
- Valid, active SEBI registration as a Research Analyst since July 2020
- No official SEBI adjudication order or penalty recorded publicly as of June 2026
- Established brand with a genuine community presence on Telegram and social media
- Long-term equity focus (multibagger approach) is a legitimate investment strategy
- Free educational content demonstrates some level of genuine market knowledge
These are not user opinions, these are observations from Stockifi’s publicly visible website:
Red Flag 1: “70% of stocks gave 2x to 18x returns.” This claim appears on their website.
Under SEBI’s Research Analyst regulations, an RA cannot guarantee profits or mention specific return percentages as marketing claims.
Displaying “18x returns” as a marketing hook is a direct violation of SEBI Regulation 16(b) and SEBI’s advertising code for research analysts.
Red Flag 2: Past performance track record displayed as marketing on Stockifi’s website shows current profit figures in green to encourage subscription upgrades.
SEBI’s advertising guidelines for research analysts explicitly prohibit the use of past performance as a promise or indicator of future returns.
Highlighting only winning picks while burying losing ones violates this principle.
Red Flag 3: Active referral scheme Stockifi’s website runs a referral program offering a 10% referral bonus for subscriber referrals.
A SEBI-registered Research Analyst cannot legally operate a direct referral or affiliate scheme. This is a documented compliance concern under SEBI RA Regulations.
The honest answer: Stockifi is not unregistered, and it is not a Telegram scam group. It is a SEBI-registered firm with a real compliance structure.
But SEBI registration is the minimum bar; it does not guarantee service quality, ethical conduct, or that the marketing claims on their website fall within regulatory boundaries.
Before subscribing, verify the registration independently, get the fee structure in writing, confirm exactly how recommendations are delivered, and ask specifically whether you will receive formal research reports or Telegram alerts.
The answer to that last question tells you whether the service they’re offering matches what their SEBI registration actually permits.
Stockifi Complaint
Unlike the unverified and often exaggerated claims found on social media, SEBI requires registered research analysts to maintain a clean public grievance record.
To help investors track transparency and accountability, regulatory bodies mandate the publication of a structured complaints data table.
Stockifi’s official filing history shows a completely clear record regarding formal investor complaints submitted through the regulatory pipeline over the past several years:
| Sr No. | Year | Carried Forward from Previous Year | Received | Resolved* | Pending# |
| 1 | 2018–2019 | NIL | NIL | N.A | N.A |
| 2 | 2019–2020 | NIL | NIL | N.A | N.A |
| 3 | 2020–2021 | NIL | NIL | N.A | N.A |
| 4 | 2021–2022 | NIL | NIL | N.A | N.A |
| 5 | 2022–2023 | NIL | NIL | N.A | N.A |
| 6 | 2023–2024 | NIL | NIL | N.A | N.A |
| 7 | 2024–2025 | NIL | NIL | N.A | N.A |
While these official SEBI board statistics indicate that no formal, legal disputes have been escalated to the regulator, public forums, and Google Reviews tend to tell you what curated website testimonials are designed to hide.
While Stockifi has accumulated a reasonable volume of positive ratings, the critical reviews, from subscribers who paid and then shared their unfiltered experience, reveal distinct patterns that are worth examining in detail.
Stockifi Reviews
Google Reviews tend to tell you what curated website testimonials are designed to hide.
While Stockifi has accumulated a reasonable volume of positive ratings, the critical reviews, from subscribers who paid and then shared their unfiltered experience, reveal patterns that are worth examining in detail.
Let’s look at the complaints, categorised by the specific issue each subscriber raised.
Category 1: Selective Performance Reporting
As per the reviews, the main problem is that wins are highlighted, losses stay invisible.
This reviewer draws a sharp parallel to a broader industry pattern, calling out the mismatch between what advisory firms project and what they actually deliver.
The specific grievance: no response after payment was made, and the claim that one successful trade in ten is presented as if it were nine.
The selective framing of outcomes, amplifying the rare win, burying the common miss, is precisely the kind of representation SEBI’s advertising code is designed to prevent.
Category 2: Capital Locked With No Exit Strategy
Problem: Recommended stocks declined sharply, and capital was blocked with no actionable guidance.
A subscriber since February 2024, this reviewer reports that specific stock picks, including Cello and Themis Medicare, eroded the profits he had built over the preceding two years.
To compound the issue, he was unable to act on the last two recommendations at all, as prices had already moved sharply higher before he could enter.
The net result: capital entirely locked up with no meaningful return, and customer support described as largely unresponsive throughout.
Category 3: Recommendation Timing & Lack of Follow-Through
Problem: Stocks are tipped before the market opens, and prices surge before investors can act. No ongoing guidance beyond “hold for now.”
Joining in February 2024, this subscriber is currently holding three positions, showing significant losses.
Two structural problems stand out in the review: first, stock ideas are shared in early morning pre-market hours, but by the time the exchange opens, prices have already gapped up, making the suggested entry price impossible to achieve.
Second, ongoing guidance during market events like quarterly earnings is minimal, with “hold for now” being the default response regardless of how conditions evolve. The subscriber concludes they did not receive value proportional to the fee paid.
Stockifi has a high volume of 5-star ratings on Google.
Treat detailed, specific critical reviews as more informative signals than generic praise; the pattern across the negative reviews, specifically around timing gaps, stock underperformance, and limited post-subscription support, is consistent enough to warrant attention.
How to File a Complaint Against Stockifi
If your experience with Stockifi involved guaranteed return promises, misleading marketing, poor service after payment, or aggressive sales tactics — here is the correct process.
Step 1: Document Everything First
Before raising any dispute, save:
- All WhatsApp and Telegram messages from Stockifi representatives
- Payment receipts and any written subscription agreement
- Research reports received, or evidence that only Telegram alerts were provided
- Screenshots of any return promises or marketing claims that influenced your decision
- Any communication where “guaranteed” or “assured” language was used
Do this before contacting the firm. Evidence trails change once a dispute is raised.
Step 2: Write to Stockifi Formally
Email or contact Compliance Officer Mr. Kinnar Shah at the same address. State:
- Your subscription details and payment date
- Specifically, what was promised vs what was delivered
- What resolution are you seeking
Allow 15-30 days for a written response. Keep all correspondence on record.
Step 3: File a Complaint with SEBI
If unresolved, lodge a complaint in SCORES
- Select “Research Analyst” as the intermediary category
- Enter registration number INH000008376
- Attach all documented evidence
- Describe which specific SEBI RA regulation was violated
Step 4: Escalate to SMART ODR
If SCORES does not produce a resolution within the broker’s response window, escalate to SEBI’s SMART ODR portal, a structured online dispute resolution process that has produced binding recovery awards for investors in similar RA cases.
Step 5: NSE Arbitration
If the matter remains unresolved, exchange arbitration provides a legally binding decision. For claims below ₹10 lakh, there is no investor filing fee.
Time limit: File within 3 years of the incident. Acting early preserves your evidence trail and maximises your chances of resolution.
Need Help With Your Stockifi Complaint?
If you’re unsure whether your situation qualifies as a complaint or how to proceed, our team has helped investors navigate complaints against SEBI-registered research analysts, including cases where no-refund agreements were signed and investors still recovered money.
Conclusion
Stockifi is a SEBI-registered Research Analyst firm (INH000008376) founded by Abhijit Chokshi, operating from Mumbai since July 2020.
Their “Investors Ka Dost” brand has built a genuine community on Telegram and social media, and their long-term multibagger approach is a legitimate investment strategy.
However, three specific compliance concerns visible on their own public website, return percentage marketing claims, past performance displays, and an active referral scheme, raise questions about regulatory adherence that prospective subscribers should weigh carefully.
No SEBI adjudication order exists against Stockifi as of June 2026.
But multiple verified negative reviews point to a consistent gap between marketed promises and actual subscriber experience, particularly around post-payment support and tip timing.
Registration is the starting point, not the end of your due diligence. Get the service agreement in writing, confirm how recommendations are actually delivered, and verify independently before committing.
Frequently Asked Questions
1. Is Stockifi SEBI registered?
Yes. Stockifi is registered with SEBI as a Research Analyst under registration number INH000008376, active since July 2, 2020 with perpetual validity. The Compliance Officer is Mr. Kinnar Shah. Verify at sebi.gov.in.
2. Who is Abhijit Chokshi?
Abhijit Chokshi is the founder and sole proprietor of Stockifi, operating from Borivali West, Mumbai. As registered proprietor, he is personally accountable for Stockifi’s regulatory compliance under SEBI’s Research Analyst Regulations.
3. What are Stockifi’s subscription charges?
Exact pricing is available on their website at stockifi.in/pricing. Entry-level access includes free Telegram content, with paid subscriptions available for detailed research reports and multibagger stock picks. Premium membership is reportedly available via WhatsApp. Always confirm fees and refund policy in writing before paying.
4. Does Stockifi have an app?
Stockifi does not currently have a standalone app on Google Play or the Apple App Store. Their primary delivery channels are their website, Telegram (19,400+ subscribers), and WhatsApp for premium subscribers.
5. Is Stockifi’s “18x returns” claim legal?
No. SEBI regulations prohibit research analysts from advertising specific return percentages as marketing claims. The “70% of stocks gave 2x to 18x returns” statement on Stockifi’s website is a potential violation of SEBI RA Regulation 16(b) and SEBI’s advertising code for research analysts.
6. Is Stockifi’s referral scheme legal?
No. A SEBI-registered Research Analyst cannot legally operate a referral or affiliate program. Stockifi’s active referral scheme (stockifi.in/refer) offering a 10% referral bonus is a documented compliance concern under SEBI RA Regulations.
7. What do users say about Stockifi?
Google Reviews show a mixed picture — while many reviews are positive, verified negative reviews consistently report late stock tips (shared after prices have risen), no guidance during drawdowns, and aggressive upselling after subscription. Negative reviews tend to be more specific and time-detailed than positive ones.
8. How do I complain against Stockifi?
Write a formal email to Stockifi first. If unresolved within 30 days, file on SEBI SCORES at scores.gov.in selecting “Research Analyst” as the category with registration number INH000008376. Escalate to SMART ODR and then exchange arbitration if needed. File within 3 years of the incident.
