In the stock market, the biggest loss is not always a wrong trade. Sometimes, it is trusting the wrong person at the right time.
Before subscribing to any advisory service, most traders look for one simple answer: Is this analyst genuine, and what do real users actually experience?
Sunil Pawar is one such name that many traders actively search for. He is a SEBI-registered research analyst and is widely discussed across platforms where users try to evaluate his credibility.
So what does the available information really say?
Let us explore every important aspect in detail.
Sunil Pawar Overview
Sunil Suklal Pawar, commonly known as Sunil Pawar, is presented as a technical analyst in the Indian stock market, particularly known for his work in the options segment.
He is also known for developing his own trading tools and software in technical analysis, including Trade Matrix, Factcharts, Factsignals, Nifty Express, and Income Option.
These tools are described as being practically tested and appreciated by traders in the stock and Nifty segments.
Sunil Pawar is registered with the Securities and Exchange Board of India (SEBI) as a Research Analyst (Registration No: INH000003325).
He also operates a brand website called Options King, through which advisory services are offered to traders.
Through his platform Options King, Sunil Pawar offers services related to stock trading, intraday trading, options strategies, research reports, trading alerts, and what is described as market guidance.
The platform offers multiple packages, including standard, premium, and super premium options, with pricing structures that start high in the first month and then continue with recurring monthly charges.
When calculated annually, many of these plans cross ₹1,50,000.
According to general expectations set by SEBI for research analysts, fees are typically capped at around ₹1,50,000 per year per client.
This raises an important question for investors about whether such pricing structures are aligned with regulatory expectations.
Sunil Pawar Complaints
When it comes to complaints, the surface-level data may appear clean, with the latest updates showing zero complaints on his website.
Annual data further shows that in one year, there were over 40 complaints, out of which some remained unresolved, while in the following year, complaint resolution included pending cases from the previous period.
From a practical perspective, even a small number of unresolved complaints can be significant. Each complaint represents a real user who paid for a service and expected a resolution.
User feedback available online also reflects dissatisfaction in several cases. Some users claim they experienced losses while following advice, while others mention being encouraged to invest more money or upgrade their plans.
There are also concerns raised about persistent calls and the overall service experience.
While not every review can be verified independently, repeated patterns in user experiences are something that investors should pay attention to before making any financial commitment.
Sunil Pawar SEBI Order
One of the most important aspects to consider is the regulatory action taken against Sunil Pawar.
What was the order?
The Securities and Exchange Board of India issued an adjudication order against Sunil Suklal Pawar in his capacity as a Research Analyst.
Why was the order implemented?
The issue identified during SEBI’s inspection (conducted between April 2023 and September 2024) was that the mandatory NISM certification required for research analysts had expired on June 6, 2019, and was not renewed until December 30, 2024.
During this entire period, advisory services continued to be provided to a large number of clients.
As per SEBI regulations, maintaining a valid certification is mandatory at all times, and failure to do so is considered non-compliance.
What was the penalty imposed?
SEBI imposed a monetary penalty of ₹1,00,000 under the provisions of the SEBI Act, 1992.
The penalty was required to be paid within a specified time frame, failing which recovery actions could be initiated.
No additional penalties were imposed in relation to investor losses, as no direct losses were officially established during the proceedings.
Key learnings for Investors
This case highlights a few important points. Investors should not rely solely on registration status when evaluating a research analyst.
It is equally important to verify whether all certifications are valid and up to date.
Regulatory compliance is not a one-time requirement but an ongoing responsibility. Even a registered analyst can face issues if compliance is not maintained properly.
How to Register a Complaint Against a Research Analyst?
If you face any issues while dealing with a research analyst, it is important to take structured action.
- Start by collecting all relevant evidence, including chat records, emails, advisory reports, payment receipts, and any communication that supports your claim. This documentation forms the foundation of your complaint.
- You should first raise your concern directly with the analyst through their official communication channels. This ensures that your complaint is formally recorded.
- If the issue is not resolved, you can escalate the matter by filing a complaint in SCORES, through their SEBI SCORES Portal, which is designed for investor grievance redressal.
- If SCORES does not resolve your issue, you can file a complaint in SMART ODR (Online Dispute Resolution) platform for structured mediation between you and the entity.
- If ODR does not resolve the matter, you can proceed with arbitration through stock exchanges like the National Stock Exchange of India or the Bombay Stock Exchange.
Taking these steps ensures that your complaint is properly documented and handled through the appropriate regulatory channels.
Remember: Registering a complaint against a research analyst is a tiring process, which requires attention to detail. If you miss any information, you might lose all your money.
This is where our team helps you.
All you need to do is register your complaint with us. Our team will personally connect with you and find the best possible resolution for your complaint.
Conclusion
Sunil Pawar is a SEBI-registered research analyst with a background in technical analysis and a presence in the options trading segment.
Through his platform, Options King, he offers advisory services and trading strategies to investors.
At the same time, there are important factors that investors should carefully evaluate, including pricing structures, complaint patterns, user feedback, and past regulatory action.
So how should you approach this?
Be cautious. Verify all details independently. Avoid relying solely on claims or marketing. Start with small exposure if you choose to engage, and always maintain risk control.
Because in the end, no matter whose advice you follow, the financial risk is always yours.
