Published 19 July 2026 · By the PCJ Desk · General educational information, not investment advice.
Why registration matters
In India, every stock broker must be registered with SEBI and be a member of the exchanges (NSE, BSE, MCX). Registration means the broker is subject to rules that protect your funds and securities. Dealing with an unregistered entity leaves you with little recourse if things go wrong.
How to verify (2 minutes)
1) Ask for the broker’s SEBI registration number — it looks like INZ0000xxxxx. 2) Check it on the SEBI website intermediary search. 3) Confirm membership on the NSE and BSE member lists. 4) On the broker’s own website, look for its SEBI, exchange and depository registrations, a compliance officer’s contact and a grievance / escalation matrix.
Red flags of fraud
Be very cautious of anyone who: promises guaranteed or fixed returns; asks you to transfer money to a personal or third-party account; pushes tips over WhatsApp, Telegram or calls; runs a look-alike website or app; or cannot produce a SEBI number. SEBI-registered brokers and their authorised persons are not allowed to promise returns or take funds outside the regulated route.
Where to complain
If you have a grievance, use SEBI’s SCORES portal and the SMART ODR platform, or raise it with the exchange. A genuine broker publishes these channels openly — see our grievance redressal page as an example.
A registered, long-standing broker
PCJ Holdings is a SEBI-registered stock broker and NSDL depository participant serving investors since 2006; our registrations and escalation matrix are published on the site. Learn how to choose a stock broker or open an account.