Lost Money on an Offshore Trading App? What You Can Do in India

The short answer

Act quickly, stop paying, and use the official routes.

1. Stop sending money. Do not pay any “withdrawal fee”, “tax” or “unlock charge”.
2. Call 1930. The National Cyber Crime Reporting Portal, run by the Ministry of Home Affairs, says: any victim of financial cyber fraud can dial helpline number 1930.
3. File a complaint at cybercrime.gov.in.
4. Report the platform on RBI Sachet, RBI’s portal for reporting unregulated financial activities.
5. Use SEBI SCORES only if your problem is with a SEBI-registered broker or other SEBI-regulated entity.
6. Ignore anyone who offers to “recover” your money for a fee.

We checked each of these on its official website on 5 November 2026. The details are below.

Step 0: breathe, and stop the bleeding

Losing money hurts, and a scam can also make you feel ashamed. Many careful, clever people get caught by these apps, because they are designed to look real. What matters now is acting calmly and quickly.

• Do not send more money. A demand for a fee before a withdrawal is one of the most common signs of a scam.
• Do not share OTPs, passwords or remote-access apps with anyone who “helps”.
• Stop trading on the app. Do not try to “win it back”; read revenge trading and tilt if that urge is strong.
• Tell someone you trust. You do not have to deal with this alone.

Step 1: save the evidence

Before anything disappears, collect:

• [ ] The app name, website address and any download link
• [ ] Screenshots of your account, balance, trades and withdrawal requests
• [ ] Payment proof: UPI reference numbers, bank statements, card charges, crypto transaction IDs
• [ ] The UPI IDs, bank accounts or wallets you paid
• [ ] Chats with “support”, “agents”, “mentors” or groups (WhatsApp, Telegram, Instagram)
• [ ] Names and phone numbers of anyone involved
• [ ] Dates and times of each payment

Keep copies somewhere safe, not only on your phone.

Step 2: call 1930 and report on cybercrime.gov.in

The National Cyber Crime Reporting Portal is run by the Ministry of Home Affairs. Its home page says any victim of financial cyber fraud can dial 1930, and you can register a complaint online on the same site.

Why speed matters: the Ministry of Home Affairs says its citizen financial cyber fraud reporting system was set up in 2021 for immediate reporting of financial frauds and to stop siphoning off funds, and that banks are linked to it so defrauded amounts can be blocked (PIB, 22 July 2026). Money that has not yet left the bank account it was sent to has the best chance of being held.

RBI also points here. Its forex FAQ says complaints about unauthorised electronic trading platforms (ETPs) for forex may be filed on the National Cyber Crime Reporting Portal. The same FAQ names the Enforcement Directorate and state or UT police as other places to complain.

Tip: write down your complaint or acknowledgement number. You will need it to follow up.

Step 3: tell your bank

Call your bank’s official customer care number (from its website or the back of your card) and tell them:

• the payments you made, with dates and reference numbers,
• that you have reported a cyber fraud, with your complaint number.

For card payments, ask the bank what dispute options exist for your case. We cannot promise any outcome; it depends on your bank and the facts.

Step 4: report the platform on RBI Sachet

Sachet is a portal run by the Reserve Bank of India. It describes itself as a platform where citizens can report concerns about unregulated financial activities, and you can file a complaint, track it, or send information anonymously. Its “Know your Institution” section shows which regulator handles which kind of entity, including RBI, SEBI and I4C (the cybercrime centre).

Reporting the app helps regulators act against it, and may protect the next person.

You can also check whether the platform is on RBI’s Alert List of entities not authorised to deal in forex. RBI says the list is not exhaustive, so a missing name does not mean the platform is authorised.

Step 5: SEBI SCORES, only where it applies

SCORES is SEBI’s online grievance platform. It handles complaints against SEBI-regulated entities: listed companies, registered intermediaries (such as stock brokers) and market infrastructure institutions. SEBI asks investors to raise the grievance with the entity first.

Step 6: watch for the second scam (fund recovery)

After people lose money, they are often contacted by someone who promises to get it back. They may call themselves a “recovery agency”, a “cyber lawyer”, a “blockchain tracer” or even claim to be from a bank, the police or a regulator.

The warning signs:

• They contact you first, often soon after you posted about your loss or filed a complaint.
• They ask for an upfront fee, a “tax” or a “processing charge”.
• They want your ID documents, OTPs or remote access to your phone.
• They guarantee they will recover the money.

The official routes above do not charge you a fee. If someone does, stop and report them too.

After it is reported: looking after yourself

• Do not rush back into trading to make the money back.
• If you still want to learn trading, start again on a demo account, and when you are ready to use real money, use a regulated Indian route. Read how to trade gold in India legally.
• If the loss came from your own trading rather than a scam, our guide to what to do after a blown account can help.
• If money worries or stress are affecting your health or sleep, talk to someone you trust or a doctor.

Official contacts (checked 5 November 2026)

This is general information, not legal advice. Outcomes depend on the facts of each case. For help with your own situation, speak to the police, your bank or a qualified lawyer.

Frequently asked questions