I am getting a lot of unsolicited stocks tips SMS messages ever since I opened a trading account, how do I stop these?
The only way to stop these is to report the number to TRAI and the exchanges. You can report to TRAI by sending an SMS to 1909 in the below format:
Message, phone number from you received the SMS/call from, the date on which you received this.
For example: Unsolicited SMS asking for investments in some random business, 8553168150, 12/06/2017
You can also install the TRAI DND 3.0 mobile app. The process of reporting these calls is a simple 1 click process, where the app lets you report from your call log. Visit play.google.com/store/apps/details?id=trai.gov.in.dnd to download the TRAI app on the Google Play Store.
Zerodha doesn’t, nor are we allowed to, share client data with third parties.
We've been receiving an increasing number of reports from irate clients who incorrectly assume that we are complicit in leaking their phone numbers to unscrupulous tipsters. We don't. The nuisance of unsolicited and deceptive stock tip SMS messages has reached epic proportions in the past few years. A lot of unwitting investors have invested and lost their hard-earned money.
We also have a Nudge on Kite that warns you if a penny stock is potentially being used for a pump-and-dump scheme, since SMS is a way for these scams to be executed.
This is why we've even started an initiative Fight Stock Tips, where we want people to join our efforts to curb the menace of unsolicited tipsters. Visit the website to know how you can put a stop to receiving calls and SMS from tipsters, not just for yourself but also for your friends and family.
The exchange has also taken interest in fixing the problem of these unsolicited messages and has provisioned reporting them on their website, see Anonymous information page.
We have also put up a thread to discuss this on our trading community TradingQnA, see
Investing based on SMS can be costly.