When you come across a platform like the Horizon Research Services, it often feels reassuring.
A SEBI registration, structured services, and a clear objective to guide investors can easily build trust. For many traders, especially beginners, this kind of setup looks like a safe starting point.
But here is something worth thinking about. In the financial world, what is shown is only one side of the story. The other side lies in transparency, consistency, and how much information is actually shared with investors.
In this blog, we are not here to judge or promote. We are simply going to walk through the details virtually so you can understand what to look for before making any decision.
Because awareness is always better than assumptions.
The Horizon Research Services Overview
Horizon Research Services is a SEBI-registered research analyst with registration number INH000013785. The firm was established in 2023 and is based in Madhya Pradesh.
According to its profile, it aims to provide safe and secure investment guidance to traders and investors.
Because the firm operates in a highly regulated space, it is expected to adhere strictly to the SEBI guidelines for Research Analyst entities, which govern how research is produced and how fees are disclosed.
They mention having an in-house research team that works on analyzing the market and offering insights to clients.
Their services are categorized across different segments such as:
- Horizon Cash
- Horizon Future
- Horizon Option
- Horizon Index F&O
- Horizon MCX
This range indicates that they are trying to cover multiple trading preferences, from equity to commodities. Their services are generally priced around 1,50,000 per year.
At a glance, the structure seems organized. A dedicated team, multiple service offerings, and a clear objective can make the platform appear reliable. For someone looking for guided trading, it might feel like a suitable option.
However, this is exactly where a smart investor pauses. Good presentation is one thing, but complete transparency is another.
This is why it becomes important to look beyond services and check something that often gets ignored, complaint data.
The Horizon Research Services Complaints
On the surface, everything may look well-placed. But if you want to understand the real picture, you need to look at complaint records.
The latest complaint data available on their website is from May 2025. According to that, there were no complaints reported for that particular month.
While this might seem like a positive sign, it also raises an important question.
Why is there no updated data for 2026?
In a space where regular updates are expected, not having recent data can create uncertainty. Investors rely on this information to understand how a company is performing over time.
If the website is not updated, it becomes difficult to assess the current situation.
Looking at the annual complaint data, only one year has been mentioned, which is 2024 to 2025.
During this period, the company received just 1 complaint, and it was resolved. While this again appears positive, there is a gap that cannot be ignored.
As per SEBI guidelines, research analysts are expected to display complaint data for three years.
Since the firm received its license in 2023, it has had the opportunity to present a more complete record. However, only one year’s data is visible.
This leads to a natural question. Why is the full data not available?
As an investor, it is important to ask such questions instead of assuming everything is fine. Missing or incomplete information does not always mean something is wrong, but it does mean you should not proceed blindly.
Being slightly cautious here can save you from bigger doubts later.
What a Research Analyst Is Allowed to Do?
Before trusting any research analyst, it helps to understand their role clearly. SEBI has defined what they can and should do to ensure investors are protected.
A research analyst is allowed to study market trends and provide recommendations based on proper analysis. Their job is to simplify complex market data so that investors can make informed decisions.
They can offer insights across different segments like equity, derivatives, and commodities.
They are also allowed to educate investors. This can be through reports, updates, or learning sessions that help clients understand the market better. Clear communication is an important part of their role.
Another key responsibility is transparency. They should openly explain their services, pricing, and the risks involved. This helps investors know exactly what they are signing up for.
In simple terms, a research analyst acts as a guide who provides direction, not guarantees.
When these responsibilities are followed properly, it builds trust and helps investors feel more confident in their decisions.
What a Research Analyst Is Not Allowed to Do?
Just as there are responsibilities, there are also strict limits that research analysts must follow.
They are not allowed to promise guaranteed profits or fixed returns. The stock market does not work on certainty, and any such claim should immediately raise concern. Investors should always be cautious of unrealistic promises.
They cannot hide risks or provide incomplete information. Every recommendation must include a fair explanation of potential downsides. Transparency is not optional; it is mandatory.
Another important restriction is that they cannot pressure clients into taking services. Decisions should always be made freely, without urgency or force.
They are also expected to follow all SEBI rules strictly. Ignoring compliance or avoiding disclosures is not acceptable.
Understanding these limitations helps you identify whether a research analyst is operating fairly or not. If you ever notice behavior that crosses these boundaries, it is a sign to pause and reconsider.
How to Report a Research Analyst?
If you ever face an issue, it is important to address it instead of ignoring it. Acting early can make the process much smoother.
Here are some of the steps that you need to follow:
Step 1: Contact the Entity First
Begin by reaching out to the research analyst through their official contact details. Clearly explain your issue, including the service taken, the amount paid, and what was promised versus delivered.
Keep your communication factual and in writing so it can be referenced later. Save all emails, messages, and responses as part of your complaint trail.
Give the entity a reasonable time, typically 10–15 working days, to respond. Many issues can be resolved at this initial stage if addressed promptly.
Step 2: File a Complaint in SCORES
If you do not receive a satisfactory resolution, file a complaint on the SEBI SCORES platform.
Register using your PAN and mobile number, then submit your complaint under the Research Analyst category. Include the registration number, supporting documents, and a clear description of each grievance.
Once submitted, the complaint is forwarded to the entity for a response. You can track the SEBI complaint status online and request further review if needed.
Step 3: Lodge a Complaint in SMART ODR
If the issue involves a financial dispute or remains unresolved after SCORES, escalate it through the SMART ODR platform.
This system offers mediation and conciliation in a structured online format. It is designed to resolve disputes faster without requiring lengthy legal procedures.
Ensure all documents and prior complaint references are properly submitted. The process is more formal and focuses on negotiated resolution.
Step 4: Arbitration in Stock Market
If all prior steps fail, arbitration becomes the final course of action. You can initiate arbitration through stock exchanges like the National Stock Exchange or BSE Limited.
This is a formal legal process where an independent arbitrator reviews your case and evidence. Both parties present their arguments before a binding decision is issued.
While more time-consuming, it is often effective for serious disputes involving financial loss.
Need Help?
If you are unsure about how to proceed or feel confused about the process, you do not have to handle it alone. All you need to do is simply register your complaint with us, and we will take it forward from there.
Once you reach out, we will understand your situation, help you organize your details, and guide you step by step.
Whether it is filing your complaint or choosing the right platform, we make the process easier for you.
You do not need to figure everything out on your own. Getting the right support at the right time can make a big difference.
Conclusion
The Horizon Research Services presents itself as a structured and research-focused platform with a clear goal of guiding investors. Its SEBI registration and service offerings may create a positive impression at first.
However, when we look at aspects like incomplete complaint data and a lack of recent updates, it becomes important to stay cautious.
Transparency plays a major role in building trust, and any gaps in information should be taken seriously.
This analysis brings us back to a core concern for many investors: can we trust SEBI registered research analyst in India without doing our own homework?
The answer is that while registration ensures a legal right to operate, it does not mean the platform is beyond scrutiny. You should always ask questions and verify details before making any decision.
As an investor, your responsibility is to stay aware and not rely solely on what is presented. A careful and informed approach will always help you make better financial choices.
