A SEBI registration claim on an Instagram bio and a promise of “Simple, Profitable, Reliable” trading tips, sounds like a solid advisory service.
But when you look deeper at the Traders Circuit, several things do not add up. Their Twitter account is suspended. Their founder is unnamed.
And the company behind the brand has a direct link to an older, non-SEBI-registered firm.
Here is an honest, evidence-based Traders Circuit review covering everything you need to know before subscribing.
What Is Traders Circuit?
Traders Circuit is a Bangalore-based stock advisory service operating through a mobile app, offering intraday, swing trading, and options recommendations.
The firm markets itself across Instagram, YouTube, and LinkedIn, targeting retail traders with daily trading calls, broker integrations with 13+ partners, and subscription plans starting at ₹1,180/month.
Is Traders Circuit SEBI Registered?
Yes, Traders Circuit holds a SEBI Research Analyst registration under the name I CAP Traders Circuit Private Limited, with registration number INH000019859, valid from February 20, 2025, on a perpetual basis.
The contact person listed on SEBI’s records is Vidhan Gupta, based at the Richmond Towers, Bangalore address.
Notably, the SEBI registration was granted only in February 2025, meaning the firm operated and marketed itself before this date under an unverified regulatory status.
Is Traders Circuit Legit?
As you can understand from the above discussion, Traders Circuit holds a valid SEBI registration. However, several practices and structural concerns raise legitimate questions for any careful investor.
Here is what this Traders Circuit review shows based on the evidence.
1. No Founder Identity Disclosed Anywhere
The About Us page contains zero information about who founded or runs Traders Circuit.
There is no name, no photograph, no background, and no credentials of any analyst or principal officer on the website.
The SEBI registration lists Vidhan Gupta as the contact person, but this name does not appear anywhere on the website, app, social media, or any public communication.
SEBI’s April 2023 circular requires that the name and contact details of the compliance officer be displayed prominently across all client communications and on the website.
2. SEBI Registration Number Not Displayed Prominently
SEBI’s April 2023 circular mandates that a registered RA’s name, registration number, and complete address be prominently displayed on the website, notice board, advertisements, and all client correspondence.
Traders Circuit buries its registration number only in the disclaimer page, it does not appear on the homepage, the product page, the About Us page, or on its Instagram bio.
The Instagram profile only says “SEBI Registered Advisor” with no registration number, making it impossible for a prospective subscriber to verify the claim without actively digging.
3. Twitter (X) & Facebook Account Suspended
The Twitter/X account linked from the official website shows “Account suspended. X suspends accounts which violate the X Rules.”
The Facebook link on the website leads to a suspended or non-functional page. So two out of four social media channels linked from the official website are suspended or inactive.
However, this Traders Circuit review finds that the website still links to the suspended account as an active social media channel, giving the false impression of a functioning presence.
4. Direct Connection to I Cap Financial Services
The SEBI registration and the website footer both name the entity as I CAP Traders Circuit Private Limited.
Adding to this, the SEBI registration of I CAP Traders Circuit Pvt Ltd uses the same email domain as I Cap Financial Services, directly linking the two entities.
Research indicates I Cap Financial Services is a separate, older Bangalore-based advisory firm (founded 2014) at Richmond Towers, operating as an IIFL franchise offering wealth management, equity advisory, mutual funds, and alternative investments.
Critically, I Cap Financial Services does not hold a SEBI Research Analyst or Investment Adviser registration of its own.
Shared address, “I CAP” branding, and location suggest Traders Circuit is likely the SEBI-registered arm of the I Cap ecosystem, though prior unregistered operations aren’t conclusively proven.
5. No Investor Charter, No Complaint Data
SEBI’s December 2021 circular requires every registered RA to prominently display the Investor Charter on their website and publish monthly complaint data.
Traders Circuit’s website has no Investor Charter, no complaint data table, and no SEBI SCORES link visible on any public-facing page.
The disclaimer page does mention SEBI RA regulations but does not link to SCORES or display the charter. This is a direct violation of SEBI’s mandatory disclosure requirements.
6. T&C Can Be Modified Without Notice
The Terms state: “Traders Circuit reserves the right to modify or update these Terms & Conditions at any time without prior notice. Continued use of our services after changes constitutes acceptance of the updated terms.”
This means any aspect of the service, subscription terms, deliverables, refund policy, can change after you pay, without notification, and your continued login counts as consent.
This is an unfair contract term under India’s Consumer Protection Act, 2019.
Traders Circuit User Reviews
In this Traders Circuit review, public reviews from the Google Play Store tell a consistent story of unmet service expectations and poor platform experience.
1. Mandatory 10-Year Subscription and No Response
A user dhanasekar could not access a one-month subscription and instead faced a mandatory 10-year subscription option with no flexibility.
He received no proper response to his queries within the app, leaving his issues unresolved.
He experienced poor support, restrictive subscription terms, and overall dissatisfaction, with multiple users finding his review helpful, indicating similar experiences.
2. Trade Closing Notifications Come Too Late to Act On
User Mohamed Touseef received unclear or delayed trade notifications, which made it difficult for him to execute trades properly and led to a frustrating user experience.
This review received 56 helpful votes, the highest engagement of any review, indicating this is a widespread and critical operational failure.
For an intraday trading app where timing is everything, late closing notifications directly result in financial losses.
What Investors Should Keep in Mind?
Before subscribing, this Traders Circuit review shows that basic due diligence protects you far more than any disclaimer ever will.
A SEBI registration is a starting point, not a guarantee of quality, accuracy, or ethical conduct.
- Verify the registration number on SEBI’s official website before paying anything
- Check who is making the calls, analyst credentials and experience should be publicly available
- Read the refund policy before subscribing, understand what happens if the service underdelivers
- Confirm the Investor Charter is accessible, every SEBI-registered RA must provide this document
- Look for the SEBI SCORES link, its absence means your complaint path is not clearly communicated
- Check complaint data, SEBI requires RAs to publish monthly complaint records publicly
- Understand that past call accuracy is not guaranteed to continue, market conditions change constantly
- Test support responsiveness before committing to long subscriptions, how a firm handles queries tells you more than its marketing does
No advisory service eliminates market risk. The right service gives you transparency, clear disclosures, and an honest path to complain if something goes wrong.
Those are the standards worth holding any advisor to.
What To Do In Such Cases?
If you subscribed to Traders Circuit, suffered losses following their calls, or feel the service did not match what was promised, you have legal options. Here is how to proceed.
Step 1: Gather All Evidence First
Collect every proof of your experience, payment receipts, subscription confirmation, call notifications received, trade results, in-app messages, and any screenshots of promises made.
Without documentation, your complaint carries less weight. Start this process immediately, before anything is deleted or altered.
Step 2: Send a Formal Complaint to Traders Circuit
Write a structured complaint letter by email to Traders Circuit’s grievance officer.
Clearly state the dates, amounts paid, specific service failures, and any losses incurred. This creates a mandatory paper trail.
If they do not respond within a reasonable time, that non-response itself becomes part of your escalation evidence.
Step 3: File Complaint in SEBI SCORES
Since Traders Circuit holds a SEBI RA registration (INH000019859), every subscriber has the right to file a formal complaint on SEBI’s official investor grievance platform, SEBI SCORES.
Register an account, submit a detailed complaint, and attach all supporting documents. SEBI directly pursues registered intermediaries through this portal.
Step 4: Escalate Issue in SMART ODR
If SEBI SCORES does not resolve the matter, escalate to Smart ODR, SEBI’s Online Dispute Resolution platform for investors.
This brings both parties into a structured conciliation process supervised by the regulator. Register your case, upload your evidence, and request a conciliation session.
Step 5: Stock Market Arbitration
If the regulatory response doesn’t address your complaint adequately, and the advisory agreement includes an arbitration clause, formal arbitration through the exchange framework is a legitimate route, particularly for higher-value losses.
apaer from these, if Traders Circuit took money and failed to deliver services as described or terminated your access without cause, this is a consumer rights issue under the Consumer Protection Act, 2019.
File a complaint with your district Consumer Disputes Redressal Commission. A blanket no-refund clause in a private T&C does not override your statutory consumer rights.
Need Help?
If you lost money after subscribing or the service didn’t match what was promised, you don’t have to handle it alone. Here’s how we help you:
- Case Assessment: We review your situation to determine whether it qualifies for a formal complaint under SEBI regulations.
- Evidence & Complaint Drafting: We prepare a strong, well-documented complaint backed by relevant SEBI guidelines and your transaction history.
- Filing Support (SCORES & Smart ODR): We guide you step-by-step through filing your complaint on official platforms like SCORES and Smart ODR.
- Representation & Follow-ups: We represent your interests during conciliation and ensure proper follow-ups with the concerned entities.
- Arbitration Support (If Required): If the issue remains unresolved, we assist you through arbitration to help pursue potential recovery.
Register with us if you paid for intraday calls that arrived too late, were denied a refund after service failure, or subscribed based on misleading claims, your case deserves to be heard.
Conclusion
This Traders Circuit review confirms that the firm holds a valid SEBI RA registration obtained in February 2025.
Beyond that, the picture gets less clear. The founder is unnamed. Two social media channels are suspended. The Investor Charter and SCORES link are missing from the website.
The connection to an older non-SEBI-registered firm at the same address raises questions about the firm’s regulatory history.
And user reviews on the Play Store point to a core operational failure, late trade notifications, that directly causes the losses subscribers were trying to avoid.
A SEBI number is the starting point for due diligence, not the end of it.
Always verify who is making the calls you pay for, confirm that your rights as an investor are clearly disclosed, and understand what happens if things go wrong before you commit your money.
