NSE warns investors about unauthorised trading tips and account management schemes

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NSE unauthorised trading warning

Highlights

NSE warned investors that the 'Zero to Hero Nifty Calls' Telegram channel is offering unauthorised trading tips and account management services.
The exchange clarified that 'Vikram Rawat' and 'Everyday Trading' are not registered members or authorised persons, and their products are prohibited by law.
NSE stated that the exchange’s investor protection and grievance redressal mechanisms will not be available in the event of disputes or losses related to such illegal schemes.

This article was translated from the original. Read the original version by our correspondent here.

Warning regarding the Telegram channel

According to the National Stock Exchange of India, the exchange has been informed that an individual named “Vikram Rawat”, claiming to be associated with an entity called “Everyday Trading”, is providing securities market-related recommendations through a Telegram channel named “Zero to Hero Nifty Calls” and offering to manage investors’ trading accounts.

The exchange stated that investors should not subscribe to any scheme or product offered by any individual or entity claiming indicative, assured or guaranteed returns in the stock market, as such offerings are prohibited by law. Investors have also been advised not to share their trading user ID and password with anyone.

NSE clarified that the individual or entity concerned is not registered as a registered member of National Stock Exchange of India Limited or as an authorised person of any such member. The exchange also referred to the “Know/Locate your Stock Broker” facility for checking details of registered members and their authorised persons.

Scope of investor protection and risks

The exchange stated that participation in such prohibited schemes will be at investors’ own risk, cost and consequences, as these schemes are neither approved nor endorsed by the exchange. This means that investor protection available under the exchange’s jurisdiction will not be available in such cases.

NSE also highlighted that investors will not have access to the exchange’s dispute resolution mechanism or investor grievance redressal mechanism in disputes related to such schemes. The exchange has urged investors to take this warning seriously and transact only with registered market intermediaries.

Our previous report mentioned NSE’s warning regarding claims of guaranteed returns, account management services and prohibited activities such as alleged dabba trading through Telegram/Facebook/YouTube channels linked to ‘Vicky Dhakad’. The article also noted that the exchange’s dispute resolution and investor grievance redressal mechanisms do not apply in the event of disputes on such unauthorised platforms, increasing investors’ risk.

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