How to check if a stock broker is SEBI registered and spot fake trading apps

You can check if a stock broker is registered by searching their name or INZ number on the official SEBI website. If they do not appear on the Recognised Intermediaries list, they cannot lawfully hold your shares or execute trades. Learn how to verify any broker and spot unverified trading apps.

By Qrates research desk · 2026-10-27

You can check if a stock broker is registered by searching their name or registration number on the official SEBI website. A registered broker will appear on the Recognised Intermediaries list. If you cannot find the broker there, they do not have a licence to hold your shares or execute trades.

Quick answer: How to check if a stock broker is SEBI registered

You can verify any broker's licence status in four steps on your phone or computer.

Go to the official SEBI website at sebi.gov.in.
Scroll to the Intermediaries section and click on Recognised Intermediaries.
Select Stock Brokers from the list and type the broker name or registration number in the search box.
If the name does not appear, the broker is not registered and cannot lawfully trade with your money.

Licence and registration

A stock broker must hold a SEBI registration certificate to offer a demat account or a trading app. Newer SEBI registration numbers for stock brokers start with the letters INZ. Older active numbers can start with INB, INF, or INE.

Brokers must display this registration number clearly on their website footer, app store description, and client documents. You should always look for this specific number before opening an account.

Some companies show an investment advisor licence number starting with INA. This INA licence does not allow a company to hold your shares or execute trades for you. It only allows them to offer financial advice.

Regulator warnings

SEBI issued specific warnings in October 2026 about unregistered stock brokers operating through WhatsApp and Telegram groups. These groups often use the names and logos of real SEBI registered brokers to trick investors.

The National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) maintain active caution lists of unverified entities. You can check these lists on the official exchange websites. You should also be aware of the RBI alert list of unauthorised forex trading apps as these often overlap with fraudulent stock schemes.

Regulators warn that registered brokers are not allowed to promise fixed profits or zero risk. Any broker making these promises is breaking SEBI rules and operating without a proper licence.

What a trading app can read on your phone

An unverified trading app often asks for permission to read your SMS messages, contacts, and photo gallery. Scam operators use these permissions to access personal data or harass your contacts if you try to withdraw money.

Before downloading, you can compare money apps side by side to see which ones have transparent privacy policies and legitimate registration. A genuine SEBI registered trading app only needs basic permissions for the mandatory digital KYC process. SEBI rules require capturing a live photo and recording the exact latitude and longitude of your location during KYC.

You can check the exact phone permissions an app requires on its Google Play Store or Apple App Store page before installing.

What users complain about

The most common complaint about unregistered brokers is the inability to withdraw funds after making a deposit. Users report that unverified apps show artificial profit screenshots to encourage larger deposits, then block the user's account.

Victims of unregistered WhatsApp trading groups often complain that the group admins delete chat histories and disappear. This makes it difficult to track the people running the group. If you have been misled by an entity, you might need to know how to complain to the RBI Ombudsman or follow standard SEBI grievance procedures.

Real complaints against registered brokers are tracked and resolved through the official SEBI SCORES portal. You can file a complaint there if a registered broker mishandles your funds.

How to check this yourself

Step 1: Find the SEBI registration number

Ask the broker for their exact SEBI registration number or find it on their official website. Look at the bottom of the homepage or in the terms and conditions document.

Step 2: Verify the number on the SEBI website

Visit sebi.gov.in and navigate to the Intermediaries list. Search the INZ number to confirm the licence is active.

Step 3: Check the NSE and BSE caution lists

Open nseindia.com and check the Investors section. This will show you if the broker's name appears on the caution list of unverified entities.

Step 4: Look up the app on Qrates

You can check the Qrates broking apps directory to see the verified licence details for real trading apps in India. The directory lists the exact SEBI registration numbers, official company names, and regulatory status. This allows you to cross-reference your app before you send any money.

FAQs

Stock broker asli hai ya nahi kaise check kare?

You can search their INZ number on the SEBI website intermediaries list. If their name and number do not appear, they are not a registered broker.

Where can I find the SEBI registration number of a broker?

You can look at the bottom of their official website or on your account opening form. Registered brokers must display this number publicly.

SEBI registered broker list kaise dekhe?

You can download the full list of registered stock brokers directly from the SEBI website. Go to the Recognised Intermediaries section to find the current list.

What to do if a trading app is not SEBI registered?

Do not install the app and do not send them any money. You can report the unverified app on the official SEBI SCORES portal.

The short version

A stock broker must have a SEBI registration number starting with INZ, INB, INF, or INE to offer a trading app.
You can verify this number on the Recognised Intermediaries list at sebi.gov.in.
An investment advisor licence (INA) does not allow a company to execute trades for you.
Registered brokers are not allowed to promise fixed profits or zero risk.

Sources

Disclaimer

Qrates is an information directory. It takes no commission from any company listed and does not recommend products. Figures are taken from the sources named and dated, and they change; check the company's own page before you decide. This is not investment, credit, insurance or tax advice for your situation. A licence or a clean record today does not guarantee how a company behaves later. To complain, use the regulator's own portal (RBI CMS, SEBI SCORES or IRDAI Bima Bharosa).