Quick Summary
Three Google Play reviewers describe paying for Trading With Karol and then receiving neither the service nor a refund. A Reddit thread on r/IndianStreetBets calls the operation a scammer. The mandatory complaint table on thetradingfox.com shows 47 complaints received for 2025-26 in the annual row but the monthly rows across the same period add up to approximately 32, a gap of roughly 15. Individual months carry internal arithmetic errors. The Graphy platform, the app, and the Telegram channel where products are sold carry no complaint history at all for a prospective subscriber to check. The full 13 red flags and all platform-by-platform analysis are on the Trading With Karol hub page on this site. This page covers what real users said, what the complaint data shows, and what to do next.
Three separate Google Play reviewers describe the same sequence after paying Trading With Karol.
Payment goes through. Verification fails, or group access never opens. Support does not respond. No refund follows.
A Reddit thread on r/IndianStreetBets calls the operation a scammer outright.
And the complaint table that SEBI requires to be publicly visible exists only on thetradingfox.com, not on the Graphy platform or the app where the actual products are sold.
The table that does exist carries arithmetic gaps between its own annual and monthly figures.
This page covers every public account in the reviewer’s own words, the complaint data in full, and the exact complaint process if your experience matched any of this.
Trading With Karol Reviews India
Five separate public sources carry user feedback. Three of them describe the same post-payment sequence. One is a Reddit thread. One is the firm’s own complaint table.
We are reporting what these users said on public platforms.
We are not independently verifying these accounts. No SEBI order confirming this specific conduct exists as of the date of this review.
Review 1: Premium Membership Paid, Telegram Group Never Opened
One reviewer describes attending a live session and paying for premium membership right after.
According to this reviewer, the promised Telegram group access never arrived because Aadhaar verification kept failing on the platform’s end.
Repeated follow-ups produced only delays. No group access. No refund offered.
A SEBI-registered entity that collects payment but fails to deliver the paid service has a specific obligation under the RA framework.
Fair dealing and grievance redressal requirements apply to every SEBI-registered intermediary, not just to the research report itself.
If verification is broken on the platform’s side, the platform carries the responsibility to fix it.
Review 2: Payment Cleared, No Service Ever Opened Inside the App
A second reviewer reports that payment went through in full but no service ever opened inside the app.
This reviewer states they could not get a refund after multiple attempts.
This reads less like a technical glitch and more like a plain non-delivery complaint.
Under SEBI’s Code of Conduct for Research Analysts, a client who pays for an offering and receives neither the product nor a refund has clear grounds to file on SEBI SCORES.
The complaint against SEBI registered research analyst guide on this site covers the specific evidence this type of non-delivery claim requires at each stage.
Review 3: Verification Failures for Five Days Straight
A third reviewer describes a longer ordeal. Both Aadhaar and PAN verification kept failing for five consecutive days after payment cleared.
Calls went unanswered. No group access followed.
Five days of silence after payment is not a minor onboarding hiccup. It points to a support structure that cannot keep pace with sign-ups, or one that stops responding once payment has been received.
The thetradingfox.com Grievance Redressal page lists two different phone numbers that do not match each other: +91 9216060140 and +91 92164 85581.
When support is already unresponsive, inconsistent contact information makes it harder for a client to escalate.
What the Reddit Thread on r/IndianStreetBets Says?
A public thread exists on r/IndianStreetBets. Its title directly calls the Trading With Karol operation a scammer.
The thread’s existence, independent of any single comment inside it, functions as a market reputation signal worth factoring into due diligence.
Reddit threads are user-generated and unverified. Treat this as a signal to investigate further, not as standalone proof. Confirm specific allegations through your own documentation before acting on them.
Also Read: Eqwires Research Analyst reviews, which lay out six independently documented complaints in full.
What Does the Complaint Table on thetradingfox.com Show?
SEBI requires every registered Research Analyst to maintain and publish complaint data somewhere a client can find before paying.
That data exists for this registration. It lives on thetradingfox.com.
It does not appear on the Graphy platform, the app listings, the Telegram channel, or the YouTube handles where products are actually sold.
A person deciding whether to pay through any of these four touchpoints has no official complaint history to check. The entire burden of due diligence falls on scattered app store reviews and Reddit threads instead.
The complaint table that does exist carries its own problems.
The annual table states 47 complaints received for FY 2025-26. The same board’s monthly table, adding September 2025 through June 2026, produces only approximately 32 received and 16 resolved.
That is a gap of roughly 15 complaints between two tables sitting on the same page.
Annual Complaint Summary:
| Sr. No. | Year | Carried Forward | Received | Resolved | Pending |
|---|---|---|---|---|---|
| 1 | 2025-26 | 0 | 47 | 44 | 3 |
| Grand Total | 3 |
Monthly Complaint Breakdown:
| S. No. | Month | Carried Forward | Received | Resolved | Pending |
|---|---|---|---|---|---|
| 1 | September 2025 | 2 | 6 | 4 | 7 |
| 2 | October 2025 | 0 | 1 | 0 | 1 |
| 3 | November 2025 | 1 | 2 | 1 | 1 |
| 4 | December 2025 | 0 | 4 | 4 | 0 |
| 5 | January 2026 | 0 | 3 | 2 | 1 |
| 6 | February 2026 | 0 | 5 | 1 | 4 |
| 7 | March 2026 | 0 | 0 | 0 | 1 |
| 8 | April 2026 | 0 | 6 | 0 | 6 |
| 9 | May 2026 | 0 | 5 | 4 | 1 |
| 10 | June 2026 | 0 | 0 | 0 | 0 |
Individual months carry internal arithmetic errors too.
September 2025 lists 2 carried forward, 6 received, and 4 resolved. That math should leave 4 pending. The page shows 7 pending.
March 2026 lists zero carried forward, zero received, and zero resolved. That math should leave zero pending. The page shows 1 pending.
SEBI mandates accurate monthly complaint disclosure. A gap of 15 complaints between two tables and internal errors within individual months is a data integrity concern, not a rounding error.
Also Read: First Trade Research reviews, grievance page and complaint board show different resolution timelines.
What Pattern Do the Three Trading With Karol Reviews Describe Together?
Put the three Play Store complaints and the Reddit thread alongside the missing complaint table and one picture emerges.
Payment tends to arrive faster than service or support does. The verification systems that block access after payment sit on the platform’s side.
The support structure that should resolve them is not responding.
The Saihitech Sai review from the Buddhi Prakash Karol draft research adds a layer: the reviewer describes a pattern where one or two profitable early calls build trust before payment, then the experience becomes “very disappointing” after payment is made. Support and guidance that had been expected were not provided.
This pattern, profitable demos before payment followed by silence after, is exactly the kind of conduct SEBI’s fair dealing requirements and complaint mechanisms exist to address.
A prospective client checking only the Graphy site or the app before paying would find no aggregate complaint history to flag any of this. The entire burden of due diligence falls on scattered public reviews.
That is not how a transparent, investor-first platform operates.
Which Trading With Karol Experiences Give You Valid Grounds to File a SEBI Complaint?
Not every bad experience gives you complaint grounds. These specific situations do, each mapping to a named SEBI regulation.
Not every bad experience gives you complaint grounds. These specific situations do, each mapping to a named SEBI regulation.
1. Non-Delivery After Payment
If you paid for a Telegram group, a course, or a subscription and received neither the product nor a refund, that is a non-delivery complaint under SEBI’s Code of Conduct for Research Analysts.
This is the strongest ground across the three Play Store reviews.
2. Refund Refused for Unused Subscription Time
SEBI’s December 2024 amendment to Research Analyst Regulations requires pro-rata refunds on early subscription exit.
The three contradictory refund policies on thetradingfox.com do not override this. Raise which specific refund page you relied on before subscribing in your SCORES complaint.
3. Account Handling Service Paid For
INH000018090 does not cover managing or executing trades on a client’s account. If you paid for the “Account Handling Service Available” advertised on tradingwithkarol.online, that service was sold outside the registration scope.
This is both a complaint ground and a basis for a full fee refund.
4. Outcome-Implying Marketing Influenced Your Decision
Phrases like “Daily Jackpot Call,” “Proven Trading Setups,” and “high probability trades” across the brand’s platforms imply performance outcomes.
SEBI’s Advertisement Code bars this language. If such claims influenced your subscription decision and the service did not match the implied outcome, that gap is a complaint ground.
5. Crypto or Forex Losses Do Not Qualify for SEBI SCORES
Losses from crypto or forex tips on Telegram do not qualify for SEBI SCORES. The Telegram channel itself states the SEBI licence does not apply to crypto and forex.
Those losses go to cybercrime.gov.in under Financial Fraud instead.
For the full 13 red flags and the complete analysis of what INH000018090 covers and what sits outside it, the Trading With Karol hub page on this site covers everything.
How to Complaint Against Trading With Karol?
If you have faced issues while dealing with Trading With Karol, it is important to raise your complaint through the appropriate channels and keep proper supporting evidence ready.
Follow this process step by step:
Step 1: Collect Your Evidence Before Contacting Anyone
This step determines how strong every subsequent step is. Do this before writing to anyone.
- Payment proof: Bank transfer record, UPI transaction screenshot, or payment gateway receipt. Confirm the payee name. If payment went to a personal account rather than a business account, screenshot the payee name specifically. Payment to a personal account is itself a SEBI violation.
- What was promised: The Graphy course page or app store description you read before paying. The WhatsApp message or Telegram post that described the service. The email or sales communication. Screenshot with the date visible.
- What actually happened: If the service was not delivered, screenshot every attempt to access. Screenshot the “message failed” if you were blocked. Screenshot every failed verification attempt with the date and time. Screenshot every support message you sent and every response or non-response.
- The refund request if you made one: Every message where you asked for a refund and every response you received.
Write a one-paragraph timeline before you start filing. Date you paid, amount, what platform, what was promised, what happened, when you raised it, what response came.
This becomes your complaint description.
Step 2: Write to the Compliance Officer First
SEBI expects you to attempt internal resolution before filing on SCORES.
The compliance contact for thetradingfox.com is listed on the Grievance Redressal page of that site. Write a formal email to that contact.
- State: what you paid, when, on which platform, what was not delivered, and what resolution you want, either the service or a full refund.
- Give 21 calendar days for a written response.
- Keep a copy of the sent email and any reply. If they do not respond, that non-response becomes additional evidence in your SCORES complaint.
One thing to know: the phone number on the Grievance Redressal page, +91 9216060140, does not match the number appearing elsewhere on the site and in public listings, +91 92164 85581. Try both. Document which ones you tried and when.
Step 3: File on SEBI SCORES
If 21 days pass without a satisfactory response, file a SEBI SCORES complaint. Go to scores.sebi.gov.in. Register using your PAN and mobile number.
File a new complaint with these exact details:
- Intermediary Type: Research Analyst
- Registration Number: INH000018090
- Name of Entity: Buddhi Prakash Karol
In the complaint description, paste your timeline from Step 1. Reference each attached document by name. State specifically what happened and what resolution you are seeking.
One important note: the tradingwithkarol.online site displays the registration number as INHO00018090 with a letter O where a zero should be.
The correct number for SCORES is INH000018090. Use the correct number or SCORES cannot route the complaint.
Attach all your evidence. SCORES accepts PDF and JPG/PNG files.
After submission, save the reference number. The entity has 21 days to respond. If the response is unsatisfactory, mark it as such.
For the guide on why SCORES complaints get rejected and how to avoid each reason, the rejection guide covers every category.
Read why SEBI SCORES complaints get rejected.
Step 4: Escalate to SMART ODR
If SCORES does not produce a satisfactory resolution, the complaint moves to SMART ODR at smartodr.in.
One critical rule before escalating: do not file on SMART ODR while your SCORES complaint is still active. Filing on SMART ODR automatically disposes the SCORES complaint.
Make sure the SCORES process is fully exhausted first.
On SMART ODR, an independent conciliator is assigned. The entity must participate. Most cases with clear documentation settle at the pre-conciliation stage without needing a formal hearing.
Three Play Store reviewers described the same post-payment pattern, service not delivered, verification failing, support not responding.
If your experience matches that pattern, the documentation you built in Step 1 is exactly what the conciliator will look at.
The complete SMART ODR complaint portal guide is on this site.
Step 5: Arbitration
If SMART ODR conciliation produces no settlement, the matter moves to formal arbitration in share market.
BSE holds Buddhi Prakash Karol’s RA enlistment under number 6351. Arbitration can be filed through BSE’s arbitration mechanism.
An arbitrator reviews all submitted evidence and issues a binding award. That award is enforceable as a civil court decree under the Arbitration and Conciliation Act 1996.
For claims below Rs. 10 lakh, the investor pays no arbitration filing fee.
The strength of the arbitration outcome depends entirely on the documentation assembled in Step 1. An arbitrator cannot award recovery for payments without a paper trail.
For the guide on what a binding award means and how to enforce it if the entity does not comply, the outcome guide covers the full post-conciliation picture.
Read what happens when SMART ODR conciliation fails and how arbitration works.
Did you pay for a Trading With Karol subscription and get no access, no refund, or no response from support?
Our team prepares your SEBI SCORES complaint, builds the evidence file, and represents you through SMART ODR and arbitration so you do not have to navigate it alone.
Conclusion
Three Play Store reviewers describe the same pattern: payment goes through, service does not follow, support does not respond, and no refund comes.
A Reddit thread adds a public reputation signal to the same pattern.
The complaint table that would let a prospective client check this pattern before paying exists only on thetradingfox.com, not on any platform where actual products are sold.
And the table that does exist shows a gap of roughly 15 complaints between its own annual and monthly figures.
If your experience matched what these reviews describe, the complaint path runs through SEBI SCORES under INH000018090, then SMART ODR, then arbitration.
Every stage is free. The evidence you already have: payment receipts, screenshots of failed verification, and support messages sent and ignored, is exactly what each stage requires.
Frequently Asked Questions
Google Play does not publicly confirm a reviewer's purchase status on the review itself. The details each reviewer describes, including specific verification steps and platform-specific failures, suggest genuine transactions. This cannot be independently confirmed without the platform's backend data.
A Reddit thread alone is unlikely to serve as primary evidence in a SCORES filing. What strengthens a complaint is your own payment proof, screenshots, and correspondence. The thread serves as supporting context for a wider pattern, not as standalone proof.
The annual table shows 47 complaints received for 2025-26. The monthly rows across the same period add up to approximately 32. Individual months carry internal arithmetic errors where carried forward and received totals do not produce the pending figures shown. SEBI mandates accurate monthly complaint disclosure. A gap this size is a data integrity concern.
Screenshot every failed verification attempt with date and time visible. Screenshot every support message sent and every response or non-response. This documents that the failure sat with the platform, not with you. File on SEBI SCORES as a non-delivery complaint using registration number INH000018090.
Yes. Non-delivery of a paid service is the strongest refund ground. SEBI's December 2024 amendment requires pro-rata refunds on early subscription exit regardless of what the platform's own policy states. If payment also went to a corporate account rather than Buddhi Prakash Karol's personal account, that is an additional compliance point to raise in the SCORES complaint.
Add us as a preferred source on Google »
