Quantsapp is a company which provides mobile app and elite advisory services for option trading in India. This company is run by Shubham Agrawal (CEO), Bhavin Desai (President), Tina Gadodia ( Vice President). Their office is located in Mumbai from where they are operating this fraud.
I subscribed for the QuantsApp elite advisory program in Feb 2020 for three months by paying 70,000rs for quarterly subscription. I enrolled into this program after strong convincing and high hopes given by QuantsApp marketing people ( Specifically Arnold Philips â Head Advisor and Madhura ). The marketing team purports that calls are given by Shubham Agarwal himself, But its totally false and calls are totally non-sense and are just gamble trades. Kindly refer attached/uploaded files for reference of fake call trades for your perusal and complaints by other fellow elite members.
Their advisory services are FRAUD/SCAM and buyers are advised to thoroughly cross-check before buying.
Their advisory services are gamble which are carefully crafted in the guise of shadow/fake trades, bet/gamble trades and rubbish Webinars. The calls which you see are based on volume action. They will take full responsibility and thump their chest for petty profitable trades but will blame the market conditions for loss trades. They cover their loss trades by generating FAKE TRADE notifications to enter trade which cannot be actually entered by elite members as per QuantsApp notification ( Check attachments for reference ).
Reasons they are fraud/scam company are:-
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They Erase trades advice given in notification of QuantsApp mobile application. (So that user has no clue regarding the notification date and time). They give advisory notification over their app and not over telegram/other channels because users cannot retrieve and report matter.
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They will NEVER EVER reply queries over MAIL but will call you after significant delay to leave no trace. They will go to any extent to avoid your mails and calls. This has happened with all members. Check attachment for reference.
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They wonât give you an INVOICE unless you ask for it! (I got suspicious when they didnât mail me an invoice when I paid 70,000rs. Any good company gives you an invoice upon receipt of payment). Few members have raised complaint with GST against the company.
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They Wonât pick your phone when you have doubts regarding their fake trades unless they have crafted a workaround to your queries or they will delay it as much as possible.
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They are **providing intraday gamble/bet trades in the name of elite advisory which are based on nothing but Volume-Action and naming it as tactical.
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Support people from QuantsApp (Arnold) will give you high hopes or say like we will renew your subscription for free or you will make profit in further trades, But that doesnât happen and in the end they will cut you loose once you are in loss or you come to understand their modus operandi. If you had subscribed just recently kindly ask for your refund if they deny take legal recourse.**
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They are maintaining a FAKE BOOK OF PROFIT . (Kindly ask them to share ledger and trade book where actually trade is performed)
Their application (Quantsapp) is just a lure to entice people to enroll into their elite program , in this context they will assure you a certain return percentage(10% or 20%) and learning.
How it started?
It all started from the installing of the QuantsApp mobile application, One of their marketing guys (Madhura) immediately called me and introduced me to "Elite Member Product ââ of QuantsApp. Before enrolling into this program I confirmed about following points over phone call since this product was very expensive Rs.70,000/Quarterly and Rs.1,60,000/Yearly subscription:-
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They told me the calls will be Positional/Directional (Holding option calls for few days/weeks) and not Intraday(Entry/Exit within a few minutes). Iâm against Intraday trades since those are gamble and you have to constantly look-out and exit at the right price and at the right point of time. When I told them about these non-sense intraday trades in April 2020 they said itâs their part of strategy( By John - One of marketing team members).
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I was given assured return of Rs.1,00,000 over the ballmark capital of Rs.10,00,000 or In the worst case scenario by Mr.Arnold Philips (Head Advisor) assured return of 40-50k or subscription amount of elite program. Below I had mentioned link to call conversation with Madhura.
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Calls will be issued during market hours ( 9:15 AM to 3:30PM) and not 9:30AM as it is being done at present.
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In the learning part, they pitched - We will come to know how to create option trading strategies and HOW TO TAKE OPTIONS CALLS and they will share their strategy. But nothing as such is delivered. Instead nonsense 1 hour commentary is being done on webinar about PCR, OI, Long-Shorts in sectors.etc In crux they are basically marketing their own product on Webinar and people are hearing nonsense talk, If these people would really be making money in the market, they wouldnât have conducted workshops/webinar/seminar non-sense and instead would have rode in a ferrari at the end of trading day.
What has happened since I subscribed?
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Since the subscription they have started issuing non-sense INTRADAY CALLS which are just gamble trades based on volume action of stock and re-branded it as Elite Tactical calls which has a very LIMITED profit potential ( 1000-2000rs) and tight entry/exit positions. I havenât subscribed for these âintraday callsâ, basically you get these calls for cheap in the market and much less than the price of what they charge annually for elite member programs. Iâm totally against Intraday trading as it is gambling. Also the petty profit made in these trades is erased in their next GAMBLE trade. Any new comer seeing 1000-2000rs profit would be amazed by Quantsapp but its pure bullshit.
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They are showing Fake/hypothetical book of profit which is totally FAKE and not even closely relevant to customers profit book. Kindly ask them to show their ledger/Trade Book/ and profit and loss statement with brokerage since they must be also taking these trades if they are giving it.
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Webinars by Bhavin Desai(President, Quantsapp) are just non-sense commentary on the market** (What has happened and What will happen) and not the learning part which was pitched by Marketing guys ( Madhura and Arnold). You can buy good quality option books, refer free videos on youtube on options to know about Options & Futures. If you refer to a few good books on Option and Option trading strategies you will learn a lot by yourself.
Kindly hear this recorded conversation of Madhura from Quantsapp (Youtube) - Quantsapp Fraud/Scam call - Madhura - YouTube
Summary of conversation ( Below things are explicitly mentioned by Madhura from Quantsapp in conversation) :-
- We have two kinds of advisory services for trading capital of 2-5 lakh and 10 Lakhs and above. ( Quantsapp since beginning gave Intraday Calls and capital required NEVER WENT ABOVE 1 Lakh)
- Advisory given by Shubam Agrawal ( Mr. Shubham hasnât once appeared in webinar and neither explained single call in webinar)
- We will be giving POSITIONAL CALLS ( Received INTRADAY CALLS and we were SCAMMED )
- We give call entire based on Option only ( They issued GAMBLING/BETTING intraday calls @ 9:30am and call it option trading )
- We give 2-3 week and 8-10 calls in month ( They actually issued 20 calls a month because they were giving Intraday gambling calls )
- The idea is not to keep you trading every single day ( We received trading calls daily one day after another )
- We give limited no of calls but profitable calls ( We all got fake intraday trading calls which none of us Subscribed to , especially me who subscribed to this elite advisory for pure positional trading, and also the intraday calls which they gave were fake calls which cannot be entered into, they were just given to show that they are making profit as shown in fake profit book )
Till date members have launched complaint with SEBI and GST regarding scam/fraud committed by Quantsapp in the name of elite advisory services.
**Kindly stay away from such fraud/scam company.! **
If you are victim of such fraud please share your experience.
Marketing call conversation Quantsapp Elite Advisory - Quantsapp Fraud/Scam call - Madhura - YouTube