Stock tips WhatsApp groups and fake trading apps
WhatsApp or Telegram groups that promise guaranteed or very high returns from stock tips, IPO allotments or “institutional accounts” are a fast-growing scam. After a few tips, members are asked to install a trading app from a link. The app shows big profits, but withdrawals are blocked until you pay “tax” or “service fees”. Nobody can guarantee market returns.
Invest only through a SEBI-registered broker’s app from the Play Store or App Store.
Last updated: Reviewed by IndiaDigital editorsSources
How does this scam work?
- An ad or message adds you to a stock “study group” with a professor or mentor.
- Free tips seem to work; other members (often fake) post screenshots of profits.
- You are asked to install a special app for IPO quotas or institutional trading.
- The app shows growing profits. To withdraw, you must pay a fee, then another.
Real-style examples
Numbers and links are changed. The red flags are marked by the same engine that runs in the Scam Checker.
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- Guaranteed or huge returns
- Stock tips group or special trading app
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- Guaranteed or huge returns
- Crypto profit offer
- Foreign number (+84)
Red flags: how to spot it
- Guaranteed, fixed or daily percentage returns
- A “mentor” or “professor” and a VIP group
- An app installed from a link, not the Play Store
- Fees to withdraw your own profits
How to check if it is real
- Check the broker on sebi.gov.in.
- Install trading apps only from the official store and the broker’s real website.
- Try a small withdrawal first; if they demand a fee, stop.
What to do if you get one
- Stop depositing and keep screenshots.
- Call 1930 and report on cybercrime.gov.in with every payment.
- Report the group and numbers on Chakshu.
Remember: Nobody can guarantee stock market returns. Invest only through a SEBI-registered broker’s official app.
Lost money? What to do in the first hour
- Call 1930 now. The National Cyber Crime Helpline. The first hour matters most: a quick report lets banks try to hold the money before it moves on.
- File the complaint on cybercrime.gov.in. Add the transaction ID or UTR, amount, time, the UPI ID or account the money went to, and screenshots. Note your complaint number.
- Tell your bank and freeze cards and UPI. Call the number on your card or in the bank app. Reporting within 3 working days can limit your liability under RBI rules.
- Keep the evidence, beware “recovery agents”. Don’t delete chats. Anyone who charges a fee to get your money back is running a second scam.
Frequently asked questions
Can a WhatsApp group guarantee stock profits?
No. Market returns can’t be guaranteed. Guarantees and daily percentages are signs of fraud.
The app shows my profit. Is the money there?
Usually not. Fake apps display numbers they control. A fee to withdraw is the giveaway.
Related scams
Sources
National Cyber Crime Reporting Portal (1930) · Sanchar Saathi: Chakshu, report suspected fraud communication · RBI: limiting customer liability in unauthorised electronic banking transactions