Markets regulator Sebi on Monday cautioned investors against undertaking trading activities through virtual trading or gaming platforms and asked them to deal only through registered intermediaries.
The advisory statement came after the Securities and Exchange Board of India (Sebi) noticed that some apps /web applications / platforms are offering virtual trading services or paper trading or fantasy games to the public based on stock price data of listed companies.
Such activities are in violation of Securities Contract (Regulation) Act, 1956 and Sebi Act, 1992 which are laws designed to protect investors, the regulator said.
In a statement, Sebi reiterated that the public can invest and undertake trading activities in the securities markets only through/with registered intermediaries.
“Participation in unauthorized schemes, including sharing of confidential and personal trading data, is at the investors’ own risk, cost and consequences, as such schemes / platforms are not registere
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