Quick Summary
Wealth Trade Research is a SEBI registered Research Analyst firm operating from Mumbai under registration INH000013165 in the name of Arpit Kothari. The registration became active in October 2023. The firm offers equity, commodity, and index options research. Six specific concerns appear on the firm’s own website including a stale complaint disclosure, a disclaimer that names an unrelated company and contradicts the SEBI registration claim, conflicting jurisdiction clauses, duplicate pricing, an unexplained second brand name, and a social media presence listing a different city from the registered address. One documented case involving the firm’s representatives resulted in a Rs. 1 lakh loss for an investor who was promised guaranteed returns.
Wealth Trade Research holds SEBI Research Analyst registration INH000013165 under proprietor Arpit Kothari, registered in October 2023 from a Mumbai address.
The registration is real and verifiable. That part is not in question.
What is in question is what you find when you stop reading the homepage and start reading the rest of the website. The disclaimer names a different company entirely. The complaint data page has not been updated since October 2023. The pricing page lists the same product twice with two completely different sets of prices.
This review covers all six red flags visible on the firm’s own website, a documented case involving their representatives, and what to do if your experience with this firm has not been what you were promised.
Wealth Trade Research Registration and Ownership
Wealth Trade Research holds SEBI Research Analyst registration INH000013165. The registration is in the name of Arpit Kothari as the proprietor, operating from 912, Sureshwari Techno IT Park Premises, Link Road, Borivali West, Mumbai, 400092.
Registration date: October 2023. Status: Active.
The firm offers research across equities, MCX commodities, Nifty and Bank Nifty options. Services are listed across Stock Cash, Stock Future, Stock Option, Index Option, Bullion, and a “Special Pick” momentum service.
The firm’s own website carries one notable warning: clients are instructed not to make payments to personal accounts and not to accept services that promise guaranteed returns.
The firm also states it does not provide profit-sharing services. These disclosures are present. The question is whether the rest of the website supports them.
What the Official Complaint Data Shows
SEBI requires every registered Research Analyst to update their investor complaint disclosure monthly by the 7th of every following month.
The complaint data page on Wealth Trade Research’s website is explicitly dated “As On Ending of Oct, 2023.” That date has not changed even though more than two and a half years have passed since the firm received its registration.
| Source | Previous Pending | Received | Resolved | Total Pending | Pending Over 3 Months |
|---|---|---|---|---|---|
| Directly from Investors | 0 | 0 | 0 | 0 | 0 |
Zero complaints on a stale page is not the same as zero complaints on a current page. A disclosure that has not been updated in over two years is itself a compliance failure under SEBI’s monthly disclosure requirement.
Before subscribing to any service from Wealth Trade Research, ask them directly why the complaint disclosure has not been updated and request the current data for every month since October 2023.
Six Red Flags From Wealth Trade Research’s Own Website
Each of these is sourced from Wealth Trade Research’s own published website pages. We are describing what we found on the firm’s own content, not making independent allegations.
Red Flag 1: Complaint Data Frozen Since October 2023
As described above. A monthly mandatory disclosure that has not been updated in over two years raises serious questions about the firm’s ongoing compliance with SEBI’s transparency requirements.
The problem is not just the absence of updated data but also the amount of time passed since then.
Red Flag 2: Disclaimer Names A Completely Different Company
The Disclaimer page, which is supposed to describe Wealth Trade Research’s own terms, contains multiple references to “Theequalresearch.com” and even mentions something called “THE WEALTH TRADE RESEARCH Real World Games.” Neither of these appears anywhere else on the website.
This reads as boilerplate copied from another firm’s disclaimer and never properly edited. A SEBI-registered entity cannot disclaim liability under terms written for a different company.
The same disclaimer also states: “Neither THE WEALTH TRADE RESEARCH nor its principals, agents, associates or employees, are licensed to provide investment advice” and “THE WEALTH TRADE RESEARCH is not a registered investment adviser.”
The homepage describes the firm as “a legal and SEBI registered advisory firm.” The disclaimer on the same website says it is not licensed to provide investment advice. Both statements cannot be accurate at the same time. The site never explains the distinction.
Red Flag 3: Conflicting Jurisdiction Clauses Across Legal Pages
The Disclaimer page states the firm submits to “the jurisdiction only of the court of Chennai.” The Terms and Conditions page names the arbitration venue as “Mumbai (Madhya Pradesh), India.”
Mumbai is in Maharashtra, not Madhya Pradesh. The firm’s registered address is in Mumbai, Maharashtra.
Three documents on the same website name three different places. This suggests legal pages were copied from templates written for unrelated entities and never localized.
Red Flag 4: Duplicate Pricing For The Same Product
The Pricing page lists “Stock Cash Intraday” twice with two completely different sets of numbers.
The first listing: Rs. 5,000 for 15 days, Rs. 15,000 monthly, Rs. 25,000 quarterly, with no delivery method specified.
The second listing: Rs. 15,000 for 15 days, Rs. 25,000 monthly, Rs. 45,000 quarterly, Rs. 80,000 half-yearly, delivered via SMS.
An investor has no way of knowing which price actually applies until they are already on a call with a salesperson. That ambiguity benefits the seller, not the buyer.
Red Flag 5: An Unexplained Second Brand Name
The Career page refers to corporate social responsibility activities under the name “ResearchInn” with a registered trademark symbol. This name appears nowhere else on the website and is not explained anywhere.
Either the website content was carried over from a previous business identity that was never fully rebranded, or it was lifted from another company’s career page without being edited.
Neither explanation is reassuring for a SEBI-registered entity operating under a specific registration.
Red Flag 6: Social Media Listings Name A Different City
Public business listings for “Wealth Trade Research” circulating on Facebook list the location as Indore, while the firm’s SEBI registration and website both list a Mumbai address.
The website itself adds a note that an address modification application has been submitted to SEBI.
An address update in progress is not unusual on its own. Combined with social media that lists a third city not mentioned anywhere in the firm’s official records, it becomes harder for a prospective client to be certain who they are dealing with and from where.
Also Read: Wealth Consultant, a separate Research Analyst review with its own documented complaints.
The Rs. 1 Lakh Loss Case Involving Wealth Trade Research Representatives
An investor was approached by two representatives identified as Shailender and Ujjwal. They promised guaranteed returns.
The investor started with Rs. 20,000. Persistent WhatsApp calls pressured them to deposit more funds. Trades were suggested without stop-loss strategies or any risk management. The investor suffered losses of approximately Rs. 1 lakh.
This unauthorised trading case identified the following violations:
- Informal communication through personal WhatsApp rather than official channels.
- Guaranteed return promises which SEBI explicitly prohibits.
- No stop-loss or risk parameters on any recommendation.
- No risk profiling before advice was given.
- Representatives appearing to offer investment advice using the firm’s SEBI registration without being individually registered to provide such advice.
The firm’s own website warns clients against guaranteed return promises. The documented case involves the firm’s named representatives making exactly those promises.
The 24/7 Support Claim Worth Testing
Every single service package on Wealth Trade Research’s website carries the identical line: “24/7 client support.”
Six different products. Six identical claims. Worded exactly the same way each time.
In practice, a Research Analyst’s support is tied to market hours because that is when calls and stop-losses need monitoring. A blanket 24/7 promise repeated verbatim across every package looks like a copy-paste feature list rather than a genuine service commitment.
Test this before you pay. Call the listed number outside market hours and see what actually happens.
Five Things to Check Directly Before Anything
These checks take under fifteen minutes and tell you more than any marketing page will.
- Ask the firm to show you the current complaint disclosure data covering every month since October 2023. If they cannot produce it, that is your answer about their ongoing SEBI compliance.
- Ask the firm to point you to the exact pricing that applies to the service you are being pitched. If a salesperson quotes a number not visible on the website, ask for it in writing before you pay.
- Call the support line outside market hours before subscribing. The response, or the absence of one, is information.
- Ask directly whether your risk profile assessment will determine which service is offered to you, or whether the firm will pitch the same package regardless of your financial situation.
Read the disclaimer and terms pages yourself, not just the homepage. The website inconsistencies described above are visible to anyone who spends ten minutes reading beyond the sales material.
Also Read: Streetgains, a separate company we’ve looked into with the same level of detail.
If Something Has Already Gone Wrong, What Next?
If your experience with Wealth Trade Research involved guaranteed return promises, no stop-loss on recommendations, pressure to deposit more after losses, or unanswered support requests, the formal complaint path is available.
The complete step-by-step guide covering how to file on SEBI SCORES using INH000013165, how to escalate to SMART ODR, and what arbitration looks like is on the complaint against Wealth Trade Research page.
Still unsure whether your situation qualifies as a formal complaint ground?
We review your documents, map every applicable SEBI violation, and build the strongest possible case for your situation. Register with us for a free consultation.
Conclusion
Wealth Trade Research holds a real SEBI registration. Arpit Kothari cleared the eligibility requirements, and the firm is authorised to operate.
Six specific concerns appear on the firm’s own website. A stale complaint disclosure that has not been updated in over two years. A disclaimer naming a different company that contradicts the SEBI registration claim. Conflicting jurisdiction clauses. Duplicate pricing. An unexplained second brand name. Social media listing a different city.
A documented case involving the firm’s representatives resulted in a Rs. 1 lakh investor loss.
None of these require going outside the firm’s own published content to observe. All of them are visible before you pay a rupee.
Report. Recover. Stay Fraud Free.
Yes. Wealth Trade Research holds SEBI Research Analyst registration INH000013165 under proprietor Arpit Kothari, registered in October 2023 from a Mumbai address. The registration is verifiable at SEBI's website under the Research Analyst category. SEBI requires Research Analysts to update their investor complaint disclosure monthly. The Wealth Trade Research complaint data page was explicitly dated October 2023 at the time of this review with no subsequent updates visible. This is a specific compliance gap under SEBI's ongoing disclosure requirements. The Disclaimer page contains references to "Theequalresearch.com" and describes "THE WEALTH TRADE RESEARCH Real World Games." These appear to be copied from another entity's disclaimer without proper editing. The same disclaimer also states the firm is not licensed to provide investment advice, which directly contradicts the homepage's description of the firm as a SEBI-registered advisory firm. No. SEBI Research Analyst Regulations explicitly prohibit guaranteed return promises. The firm's own website carries a disclaimer to this effect. The documented case involving Shailender and Ujjwal from the firm describes exactly this violation, with the investor suffering approximately Rs. 1 lakh in losses after being promised guaranteed returns. Search INH000013165 on SEBI's website under Research Analyst. Confirm the registration shows Active status. Then read the firm's Disclaimer, Terms and Conditions, and Complaint Data pages yourself. The inconsistencies described in this review are visible to any investor who spends fifteen minutes reading beyond the homepage.Frequently Asked Questions
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