With investment scams rising sharply—fuelled by fake trading platforms, cloned apps, and high-pressure fraud—verifying a trading app’s authenticity has never been more critical. A few simple checks can help investors avoid losing money to sophisticated digital traps.
1. Verify SEBI Registration
Every legitimate stockbroker or investment advisor in India must be registered with SEBI. Always look up the entity’s name on the SEBI website and confirm the registration number displayed inside the app.
2. Download Only from Official Stores
Never install APK files or apps shared on WhatsApp, Telegram, or social media. Stick to Google Play Store or Apple App Store, and check the developer name, ratings, and download count.
3. Confirm the Broker’s Website & Contact Details
Fraudsters often clone real apps. Cross-check the app with the broker’s official website and verify customer support numbers. If the numbers don’t match, it’s a red flag.
4. Beware of Unrealistic Returns
Any app guaranteeing daily profits, fixed monthly income, or “zero-risk” trading is a scam. Genuine platforms never promise returns.
5. Check for Secure Payment Gateways
Before adding funds, ensure the app uses recognised banks or NPCI-approved methods. Payment requests to personal UPI IDs or wallets are warning signs.
6. Look for Mandatory Disclosures
Legitimate apps display risk warnings, privacy policies, grievance contacts, and compliance details. Missing disclosures indicate lack of regulatory oversight.
7. Use RBI & MeitY Verified Lists
Check RBI’s alert list of unauthorised apps and MeitY’s banned app list to ensure the platform is not flagged.
Staying cautious and verifying before investing can save you from devastating financial fraud.
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