Stock Market Scam: How to Identify and Avoid

Stock market scams and how to avoid them – Phishing Trading Accounts

Hi @Riyansh_Yadav, we’ve been making videos to raise awareness around this issue. At Zerodha, we’ve gotten a few cases, and we made a video a while back addressing this:

Nithin also keeps sharing around this, not just within investments and markets but in general. You can explore his posts here: scams - Nithin Kamath's personal homepage

Here are a few of what we’ve published so far, and we’re working on a lot more.

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  1. Use strong, unique passwords for your account.
  2. Never share login details or OTPs with anyone.
  3. Be cautious of unsolicited messages or calls offering stock tips.
  4. Always verify links before clicking, scammers often use fake trading websites.
  5. If your trading account gets hacked, you can temporarily disable trading using the kill switch feature or by contacting customer service immediately.
  6. You can follow Zerodha’s official channels, they do a great job of spreading awareness and providing updates in such situations.

On a lighter note, imagine if the scammer themselves posted this and is now using all our answers as feedback to improve their scamming :stuck_out_tongue_winking_eye:

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Just to be clear, I’m not saying the person who posted this is a scammer—it’s just a lighthearted joke. Please don’t take it personally @Riyansh_Yadav :slightly_smiling_face: