Zerodha, Motilal Oswal, 5Paisa Among 120 Stockbrokers Pulled Up By SEBI Over Association With Tradetron

The Securities and Exchange Board of India has issued notices to over 120 stockbrokers for their association with Tradetron, an algorithmic trading platform, as per people aware of the matter and the contents of the notice. The move comes as part of an investigation into potential violation of regulations by these brokers.

Zerodha, Motilal Oswal Financial Services Ltd., 5Paisa Capital Ltd. and Bajaj Financial Securities Ltd. are some of the brokerages that are part of the list.

Tradetron allows users to automate their trading strategies. However, SEBI’s 2022 circular prohibits any association with platforms offering assured returns. Some strategies available on the platform allegedly promised assured returns, leading to concerns over violations of SEBI's regulations.

Under SEBI’s rules, particularly Regulation 9(f) of the SEBI (Stock Brokers and Sub-Brokers) Regulations, 1992, stockbrokers are required to adhere to a strict code of conduct. The investigation aims to determine whether brokers have breached these rules by partnering with Tradetron.

1. 5Paisa Capital Ltd.

2. AC Agarwal Share Brokers Pvt.

3. Aditya Birla Money Ltd.

4. Adroit Financial Services Pvt.

5. Arham Share Pvt.

6. Arihant Capital Markets Ltd.

7. Asnani Stock Broker Pvt.

8. ATS Share Brokers Pvt.

9. Acumen Capital Market (India) Ltd.

10. Alice Blue Financial Services Pvt.

11. Anand Rathi Share & Stock Brokers Ltd.

12. Angel One Ltd.

13. Ashika Stock Broking Ltd.

14. Ashlar Securities Pvt. (Wisdom Capital)

15. Astha Credit & Securities Pvt.

16. B. N. Rathi Securities Ltd.

17. Bajaj Financial Securities Ltd.

18. Basan Equity Broking Ltd.

19. BGSE Financials Ltd.

20. Bonanza Portfolio Ltd.

21. Centillion Capital Pvt.

22. Choice Equity Broking Pvt.

23. Composite Investments Pvt. (Compositedge)

24. Crosseas Capital Services Pvt.

25. Econo Broking Pvt.

26. Elixir Equities Pvt.

27. Enrich Financial Market Pvt.

28. Excel Stock Broking Pvt.

29. Evermore Share Broking Pvt.

30. FE Securities Pvt.

31. First Global Stockbroking Pvt.

32. Fair Intermediate Investment Pvt.

33. Farsight Securities Ltd.

34. Findoc Investmart Pvt.

35. Finvasia Securities Pvt.

36. Finwizard Technology Pvt.

37. Fortune Capital Services Pvt.

38. Fyers Securities Pvt.

39. GRD Securities Ltd.

40. Ganganagar Commodity Ltd.

41. Geojit Financial Services Ltd.

42. Gill Broking Pvt.

43. Globe Capital Market Ltd.

44. Goodwill Wealth Management Pvt.

45. Growth Securities Pvt.

46. HDFC Securities Ltd.

47. Hensex Securities Pvt.

48. Hem Securities Ltd.

49. ICICI Securities Ltd.

50. IIFL Securities Ltd.

51. Indira Securities Pvt.

52. Indo Thai Securities Ltd.

53. ITI Securities Broking Ltd.

54. India Cements Investment Services Ltd.

55. JK Securities Pvt.

56. JM Financial Services Ltd.

57. Jainam Broking Ltd.

58. Kedia Capital Services Pvt.

59. Kotak Securities Ltd.

60. Kredent Trading LLP.

61. Lakshmishree Investment and Securities Ltd.

62. LSC Securities Ltd.

63. Maitra Commodities Pvt.

64. Mangal Keshav Financial Services LLP.

65. Marwadi Chandarana Intermediaries Brokers Pvt.

66. MLB Capital Pvt.

67. Moneywise Finvest Ltd. (Stoxkart)

68. Mansukh Securities & Finance Ltd.

69. Marwadi Shares & Finance Ltd.

70. Master Capital Services Ltd.

71. Moneylicious Securities Pvt.

72. Motilal Oswal Financial Services Ltd.

73. NCO Securities and Share Broking Pvt.

74. New Berry Capitals Pvt.

75. Nirmal Bang Securities Pvt.

76. Nirman Share Brokers Pvt.

77. Northeast Broking Services Ltd.

78. Navia Markets Ltd. (Tradeplusonline)

79. Nine Star Broking Pvt.

80. Nuvama Wealth and Investment Ltd. (formerly Edelweiss Securities Ltd.)

81. Patel Wealth Advisors Pvt.

82. Paytm Money Ltd.

83. Pentad Securities Pvt.

84. PhillipCapital (India) Pvt.

85. Profitmart Securities Pvt.

86. Prabhudas Lilladher Pvt.

87. Pune e Stock Broking Ltd.

88. R K Stockholding Pvt.

89. Raghunandan Capital Pvt.

90. RKSV Securities India Pvt. (Upstox)

91. RS Wealth Management Pvt.

92. Rudra Shares & Stock Brokers Ltd.

93. Sachdeva Stocks Pvt.

94. Samco Securities Ltd.

95. Sernet Financial Services Pvt.

96. Share India Securities Ltd.

97. Shri Parasram Holdings Pvt.

98. SKI Capital Services Ltd.

99. SKSE Securities Ltd.

100. Sky Commodities India Pvt.

101. SMC Global Securities Ltd.

102. SMIFS Ltd.

103. South Asian Stocks Ltd.

104. SS Corporate Securities Ltd.

105. SSJ Finance and Securities Pvt.

106. Sunlight Broking LLP.

107. Suresh Rathi Securities Pvt.

108. SW Capital Pvt.

109. Sykes & Ray Equities (I) Ltd.

110. Sharekhan Ltd.

111. Swastika Investmart Ltd.

112. Thincredblu Securities Pvt.

113. Tradejini Financial Services Pvt.

114. Tradeswift Broking Pvt.

115. Trustline Securities Ltd.

116. Upstox Securities Pvt.

117. Visual Securities Pvt. Ltd.

118. VNS Finance and Capital Services Ltd. (TradeSmart)

119. Varun Broking India Ltd.

120. Wealth Discovery Securities Pvt.

121. Zebu Share and Wealth Management Pvt.

122. Zerodha Broking Ltd.