Quantsapp.com Elite Advisory Fraud - Beware!

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 – 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:-

  1. 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.

  2. 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.

  3. They won’t give you an INVOICE unless you ask for it! (I got suspicious when they didn’t 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.

  4. They Won’t 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.

  5. 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.

  6. 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 doesn’t 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.**

  7. 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 ‘’ 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:-

  1. 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). I’m 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 it’s their part of strategy( By John - One of marketing team members).

  2. 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.

  3. Calls will be issued during market hours ( 9:15 AM to 3:30PM) and not 9:30AM as it is being done at present.

  4. 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 wouldn’t 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?

  1. 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 haven’t subscribed for these “intraday calls”, 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. I’m 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.

  2. 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.

  3. 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) - https://youtu.be/Xa6J9XVeuJs

Summary of conversation ( Below things are explicitly mentioned by Madhura from Quantsapp in conversation) :-

  1. 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)
  2. Advisory given by Shubam Agrawal ( Mr. Shubham hasn’t once appeared in webinar and neither explained single call in webinar)
  3. We will be giving POSITIONAL CALLS ( Received INTRADAY CALLS and we were SCAMMED )
  4. We give call entire based on Option only ( They issued GAMBLING/BETTING intraday calls @ 9:30am and call it option trading )
  5. 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 )
  6. The idea is not to keep you trading every single day ( We received trading calls daily one day after another )
  7. 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.

Complaint No1|690x225

Marketing call conversation Quantsapp Elite Advisory - https://youtu.be/Xa6J9XVeuJs

4 Likes

if quants app make money then why they need 70 k fees for non-sense - i never subscribe any bloddy advisory , My question is if they can make money then why they are asking peoples to subscribe for 70k , as retail want to think once twice times before you are subscribing to any one ,

i never subscribe to anyone in my 10 years trading career , i am making 50% every year profit , retail want to learn himself better then trusting another person

4 Likes

this is really something. I have lots of questions. Sure, everyone has.

  1. In this 10 years, how many years were idiot years, just unproductive years, left to gain experience?
  2. in times of self doubt, where everything was working well. then it just doesn’t seem to work, what was your experience?
  3. your experience in facing a losing streak, or times a strategy ld be just so dry, that you felt like giving up altogether.

People would love hearing from experienced persons, those who really failed and suffered. Please don’t tell me, you never had a bad time.

I really need stories from real traders. Stories that would echo the same. I am fed up of seeing people posting profits only. Doesn’t tell anything more than satisfying a small human ego.

2 Likes

@Celina I am a full time trader as option trader , I lost 2 lakhs rupees in 2008 crash this is the first time i entered in the market , i stop trading on 2008 , 2009 January i started hedged trading and investing in stock and commodities through the guidance and learning from BLOOMBERG in USA when i am working there , i am a just a clerical post only i worked there in USA, now i am in in India as a full time trader cum investor , i am trading in USA market and indian market also ,

I will never do these trades in my life
1- intraday
2-scalping
3-no futures contract trading
4- no directional trades
I dont know chart , i dont know Technical analysis , these critical thing we dont need in my experience , always simple strategy only make money in market
these trades i will never do in my life - these trades are really equal to gambling i feel , i dont know about others

i will do trades only in option positional trades only , my monthly target is 5 % , after 2009 still i am in profit only , after learning from professional i never face any big loose , they teach a very good option adjustment ,
i will apply 20 kinds of trades , in 20 kinds of stocks and index some thing went loss means i will convert those loss into profit through adjustment …these thing i am repeating every month ,
i am stick with only 3 strategy not more then that , and i am not searching any other strategy also , most of the strategy are hedged its will not hurt much in any blackswan event …

whatever the profit i am getting from option trading , i will invest those profit in ETF little bit and GOLD, growth stock and defensive stock , and dividend yield stock and REIT/INVIT also and some USA fund also , i will always balanced in the market

my dividend from stocks are 2 lakhs rupees per year its free money for me to cover my family monthly expense , i will do some covered call also , every month my profit i will fetch from option trading is 2.5 lakhs , the profit i will divert to investment through SIP module

3 Likes

I want to add that QuantsApp has two packages -

  1. For Quarterly Subscription:- 60,000 + GST
  2. For Yearly Subscription:- 1,60,000 + GST

I went for the Quarterly Subscription to test waters and didn’t wanted to loose whole of 1,60,000 + GST.

However they tried their best to get me pursue the Yearly subscription by offering free subscription to QuantsApp application and 10% discount.

After the subscription they didn’t even cared to send Invoice despite sending email, They sent me Invoice after 25 days when I threatened them legally.

I had interaction with few elite members and I was awestruck to find that - Most of the members had subscribed for 1,60,000 Package and hadn’t yet recovered their subscription amount let alone made some money after year passed by.

3 Likes

I am a victim of their annual plan! I got sold by the charm of quantsapp application. while the app is good and have nothing to complain about, the advisory is pathetic and nothing short of an Indore based company.

I am amazed to see the pathetic quality of the calls provided and that too irregularly. The often sighted reason is that the market is conducive while the face of teh advisory comes over on every news channel and gives his daily advise on what to trade and not to trade.

Please stay away and dont lose your hard earned money to such kind of irresponsible organisations.

4 Likes

Market is all but a coin toss.

now somedays his coin may hit heads when he calls heads. That day people drop their guard down, and worship him as Guru(Furu). Now, you all forget, when he hit tails when called for heads. Humans are greedy .

that’s how most people fall for paid calls. There is nothing wrong, if they can deliver what they promised.

that being said, you can’t promise a head or a tail. The only way is to find out. well, keep playing for the longer innings. You ll know if you gathered enough heads when you want heads.

I don’t even know how to finish this. The point is will I pay huge subscription fees to find out if they deliver more heads than tails. No, i ll pass. I ll bet on Tendulkar on the longer innings. But i ll never pay my money on someone whom I never know.

This business demands performance. You don’t put your money on a gali cricket star for bigger expectations. hmm…

don’t know why so many people say no to intraday. I don’t understand what is so much bad in intraday.

2 Likes

As goes the saying, you can’t judge a fish by it’s ability to climb a tree.

Intra, swing, scalping , BTST, STBT, TWIS , actually i made that up, these are varied colors of the spectrum. No one is better, or no one is less riskier.

If you don’t know what you are doing, then so call holding trades for days can be a deadlier.

But if you are that fish, & navigate well in intraday waters, then thats your zone. You are a fish & you don’t try to climb a tree.

People who say intraday is gambling or riskier, perhaps doesn’t have an edge to play as a day trader. Life itself is risky. you are not coming out alive. So, my friend, people’s opinion doesn’t have to be you.

There is nothing to understand. Yes, i am with you. But I would not try to understand the people when they say intraday is bad. It’s an opinion. You don’t dissect an opinion.

There is no one thing which is more profitable. It all comes down to your passion, money management & how long you keep sticking till the market shows almost all patterns to you.

After all if you are making good returns on your trading capital. Does it really matter, if you are a professional poker player?

You know the hands. You know the craft.

please light upon your three strategy…

Even I had subscribed to their stupid Annual subscription. I wont call myself a victim, but was greedy to think that I can simply trade their calls and start making money. I wanted to understand their system, only to realize they don’t have any profitable system, just some stupid Breakout logic which doesn’t have any edge in the long run. If the system was really profitable, why would the sales guy on the call and its famous promoter sit down and sell advisory services. Wouldn’t they be trading the calls on their own or start a fund. All the guys who come on TV including the promoter of this company are here only to sell their services, and they choose to do this since they have failed to make money trading on their own. As competition among these advisors intensifies, they find out new and better ways to market themselves. This guy launched his own app to attract customers.

2 Likes

As per your experience, how much is the minimum capital required to start option strategies in stocks/indices in India, so that adequate position sizing is maintained, and losses don’t make huge difference in your ledger.

I agree with all you said. Its nice to see someone else who doesn’t know TA…but I’m at home with my deltas. Just starting to trade the Indian markets. Using sensibull , I got directed to quantsapp cause I was looking for a platform with more info and where i could backtest. Is the app though legit. I’m sure the advisor stuff is BS for ppl too lazy to study. Any input on the app or other apps. i.e. I’m able to get more details on the OI and Volume and pricing for further out dates and able to plan my diagonals better. Any input… BTW solid post ! its so refreshing to see sense

70k for advisory that too for options. LOL I would rather buy OTM options than giving it to someone. Atleast I would have some probability of profit.

It has been a more than 7 months I brought this scam by Quantsapp Pvt Ltd to light.
Thanks a ton to Tradingqna!

I hope this would have saved some people from their bogus elite advisory.

In response to my post about their scam which I posted on Quora and here on Tradingqna they deployed their cheap marketing techniques by creating fake Quora ids and writing positive reviews about their services.

To up their game and suppress this news about their scam they are engaging in cheap marketing techniques by -

  1. Writing positive reviews on Quora with fake ids (Check attachments)

  2. Creating not so good and genuine blogspot website - https://quantsappadvisory.blogspot.com/

  3. Spamming on Traderji ( Traderji moderator even banned their multiple accounts and deleted their post which promoted positive news about Quantsapp)

I think Shubham Agarwal and Bhavin Desai (Masterminds of this fraud) aren’t paying their marketing team well for promoting their scam Elite Advisory services properly.

A genuine company which offers genuine services doesn’t need to engage in such tactics.

Many people have fallen prey to non-sense advisory services and still I suppose those who haven’t engaged in background check are falling prey to their Elite Advisory Scam.

Their have also modified their terms and conditions and have added following lines to absolve them legally -

When I subscribed for their services these lines weren’t present in their terms and conditions. So they have improvised their fraud/scam game to avoid legal matters.

Caveat emptor (Let the buyer beware)

Kindly upvote the same matter here on Quora - https://qr.ae/pG17A9

References to know more about their scam:-

  1. https://quantsappfraud.blogspot.com/

  2. https://youtu.be/Xa6J9XVeuJs

  3. https://www.quora.com/How-good-is-the-Quantsapp-advisory

  4. https://quantsappfraud.blogspot.com/2020/07/other-elite-member-grievances-july-2020.html (Quantapp Elite member grievances )

FAKE Reviews of Quantsapp Elite Advisory:-
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