SEBI Plans Verification Tick for Broker Apps to Curb Frauds

The Securities and Exchange Board of India (SEBI) is planning to roll out a verification tick mark for registered brokers’ apps on the Google Play Store, aiming to make it easier for investors to identify genuine trading platforms and avoid falling prey to fake or fraudulent apps.

SEBI Whole-Time Member Kamlesh Chandra Varshney announced this initiative at the BSE Brokers Forum (BBF) event — Capital Market Confluence. He said the regulator is currently in discussions with Google to implement the system, which could go live within a month or two.

“We are also working with social media platforms and Google to put a tick mark on registered brokers’ apps. Google has agreed,” Varshney confirmed.

A Step Toward Safer Digital Investing

This move follows SEBI’s recent launch of ‘SEBI Check’ and ‘UPI Valid’, two tools designed to combat cyber fraud and enhance investor protection in the digital trading ecosystem.
With the verification tick system, investors will be able to distinguish genuine broker apps from fake or unregistered ones, ensuring a safer investment experience.

Varshney emphasized that this measure would boost investor confidence and reduce the number of scams involving duplicate or lookalike trading applications that often deceive users by mimicking official broker platforms.

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Reviving the Commodity Market

In his speech, Varshney also highlighted the growing opportunities for brokers in the commodity market. He stated that SEBI is focused on reviving and making the commodity segment more liquid, and brokers will play a key role in this transformation.

However, he pointed out certain challenges due to constitutional restrictions, as brokers currently cannot engage in spot transactions in the commodity market.

“Farmers need immediate payments and cannot wait for future settlements. Brokers can act as mediators to bridge this gap,” Varshney suggested.

He urged brokers to reorient their strategies to adapt to the evolving market and explore new roles that can help both the agricultural and trading communities.

Brokers’ Expanding Role

Varshney noted that the coming years present a big business opportunity for brokers to expand their services, add new clients, and contribute to financial inclusion by bringing more people into the capital market ecosystem.

He stressed that as technology continues to reshape the markets, digital security and trust will remain at the core of SEBI’s regulatory reforms. Initiatives like the verification tick, SEBI Check, and UPI Valid represent a broader strategy to build a more secure and transparent market environment.

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