Quick Summary
Wise Global Research Services Private Limited holds SEBI Research Analyst registration INH000016719 under proprietor Hemraj Singh Sikarwar. The firm is real and registered. Five Google reviewers describe a consistent pattern of stop-loss removal advice during losing trades, profile upgrade pressure, and fees ranging from ₹1,45,000 to ₹17,80,000. At least one fee exceeds SEBI’s ₹1,51,000 annual cap. Fifteen complaints were filed between June 2025 and March 2026, all resolved. This page covers the registration facts, the complaint data, and what the reviewer pattern means before you pay.
Wise Global Research Services Private Limited holds SEBI Research Analyst registration INH000016719. The proprietor and Wise Global Research owner is Hemraj Singh Sikarwar.
The firm is based in India and offers equity research focused on Nifty and Bank Nifty options.
The registration is real. That question is settled.
What five separate Google reviewers describe after paying is a different question. Three of them specifically mention stop-loss removal advice during losing trades.
Two describe being pushed to pay additional fees after losses appeared. One paid ₹17,80,000. Another paid ₹3,50,000. A third paid ₹1,45,000 to access the “Nifty Club” service.
Registration confirms the firm is authorised to operate. It does not confirm that the practices described by these reviewers comply with what SEBI’s Research Analyst Regulations require.
Wise Global Research Registration and Ownership
Wise Global Research Services Private Limited holds SEBI Research Analyst registration INH000016719. The registration is issued to Hemraj Singh Sikarwar as the individual proprietor.
- CEO / Principal Officer / Compliance Officer: Hemraj Singh Sikarwar
- GST No: 23AADCW7173Q1ZO
- CIN Number: U66190MP2024PTC069199
- Type of Registration: Non – Individual
- BSE Enlistment No: 6205
- Validity: 24-June-2024 to Perpetual
Individual registration means the licence belongs to him personally. There is no company layer between him and his regulatory obligations.
Every recommendation made under this number and every complaint filed against the firm is his direct responsibility.
You can verify the registration independently at sebi.gov.in in under two minutes. Search INH000016719 under Research Analyst and confirm the status shows Active.
For a deep dive into their regulatory credentials, license details, and status check, read our guide: Is Wise Global Research SEBI registered?
Wise Global Research’s Stop-Loss Pattern Across Five Reviews
This is the most specific finding across the cluster and the one that has the clearest regulatory angle.
Three separate, unrelated reviewers describe a similar experience.
The firm’s representatives advised them to remove or ignore the stop-loss when the trade moved against them and neared the stop-loss level.
The trades continued to move against them and the losses grew.
SEBI’s Code of Conduct for Research Analysts requires recommendations to be based on sound research methodology.
Advising a client to remove a risk management mechanism during an active losing trade is the opposite of sound risk management.
This is not a one-reviewer account. Three independent reviewers describe the same specific conduct. That pattern is the strongest single concern this cluster documents.
The full review accounts with amounts, names, and the SEBI regulation each maps to are covered in detail on the reviews page.
Read the Wise Global Research reviews including all five accounts and what each maps to under SEBI regulations.
Wise Global Research’s Fee Structure and SEBI’s Annual Cap
SEBI caps the total fees a single client can pay to one registered Research Analyst at ₹1,51,000 per financial year across all plans combined.
One reviewer paid ₹3,50,000. Another paid ₹17,80,000. A third reviewer paid ₹1,45,000 for a service called the Nifty Club.
Both the ₹3,50,000 and ₹17,80,000 payments exceed SEBI’s annual fee cap by more than two times.
The payment structure does not affect the fee limit. Whether the firm collected the amount as a lump sum or through multiple plans, SEBI calculates the combined annual fee per client family.
Any registered Research Analyst who charges more than ₹1,51,000 per client family in a year exceeds the prescribed regulatory limit.
Although the firm does not publicly disclose detailed pricing, reviewers consistently mention specific fees under named services.
These reported amounts appear difficult to reconcile with SEBI’s prescribed fee cap.
If your total payments to Wise Global Research in any financial year exceeded ₹1,51,000, the excess may be recoverable through a formal SEBI SCORES complaint.
The Profile Upgrade Pressure Pattern By Wise Global Research
Two reviewers describe a secondary pattern that appears after initial losses.
After losses accumulated, representatives contacted them to purchase a more expensive tier or “profile upgrade,” with promises that this would recover previous losses or produce multiplied returns.
One reviewer describes being told that upgrading the profile would produce three times the returns.
Another describes being warned that previously promised benefits would be forfeited if they did not pay ₹1,50,000 to continue.
SEBI prohibits any Research Analyst from promising guaranteed or multiplied returns. The “3x returns” claim is directly prohibited under SEBI’s Schedule III.
Loss recovery promises are prohibited under Regulation 15.
The combination of initial loss followed by an upgrade pressure call is also the specific escalating pattern that has appeared in the complaint data.
What the Wise Global Research’s Complaint Data Shows?
Wise Global Research’s mandatory complaint disclosure shows 15 complaints between June 2025 and March 2026, all resolved, with no pending complaints at any month-end after March 2026.
The annual data for FY 2024-25 shows 8 complaints received and 7 resolved, with 1 carried forward.
The complaint table with full monthly data is covered in detail on the reviews page.
What is relevant at the hub level is that 15 complaints in 10 months for a firm offering two-plan index options research is a complaint rate worth noting, particularly when the reviewer pattern describes a consistent conduct issue.
What to Do If You Have Already Paid Wise Global Research?
If your experience involved stop-loss removal advice during a losing trade, upgrade pressure after losses appeared, or fees above ₹1,51,000 in any financial year, the formal complaint process applies to this firm.
The step-by-step complaint guide including evidence collection, SEBI SCORES filing with INH000016719, SMART ODR escalation, and arbitration is on the dedicated complaint page.
Read the complete guide on how to file a complaint in this blog: is Wise Global Pvt Ltd real or fake.
Our team files your SEBI SCORES complaint, prepares the documentation, and represents you through SMART ODR and arbitration.
Conclusion
Wise Global Research holds a valid SEBI registration. Hemraj Singh Sikarwar is the registered proprietor and carries the regulatory responsibility personally.
Five reviewers describe stop-loss removal advice, profile upgrade pressure, and fees that exceed SEBI’s annual cap.
Three of those five reviewers describe the same specific stop-loss removal conduct independently.
Registration confirms the firm is authorised to operate.
Whether the conduct described by these reviewers stays within what SEBI’s Research Analyst Regulations require is a question every prospective investor should answer before paying.
Frequently Asked Questions
Hemraj Singh Sikarwar is the registered proprietor of Wise Global Research Services Private Limited. He holds SEBI Research Analyst registration INH000016719 personally as an individual, not through a company structure.
INH000016719. The registration is active and verifiable at sebi.gov.in under the Research Analyst intermediary category.
No. SEBI's Code of Conduct requires research recommendations to be based on sound methodology. Advising a client to remove a risk management mechanism during an active losing trade conflicts directly with responsible advisory conduct and proper risk disclosure standards.
Based on amounts described by reviewers, some payments exceeded SEBI's ₹1,51,000 annual fee cap per client family. One reviewer paid ₹3,50,000. Another paid ₹17,80,000. Both exceed the annual cap significantly. If your total payments in any financial year exceeded the cap, the excess may be recoverable.
The firm's mandatory disclosure shows 15 complaints between June 2025 and March 2026, all resolved, and 8 complaints in FY 2024-25 with 7 resolved and 1 carried forward.
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