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The right order of grievance steps — broker, exchange, SEBI, and beyond
Published by The Retail Trader · JUL 22, 2026 · Compliance & Regulation
When there is a problem with a broker, most people either keep shouting at support or give up. An official escalation ladder exists, and every step of it is on record.
The first step is a written complaint on the broker's own grievance channel. Every registered broker must keep a designated compliance officer and an investor grievance email.
If you get no reply there, or the reply seems wrong, you can go to the exchange's investor grievance mechanism, and above that is SEBI's online complaint system.
A good complaint contains these things:
• Client code, date and order number — not a story, a record.
• A screenshot or PDF of the contract note, ledger and order log.
• What you asked for and what happened, in two lines.
• Which channel you wrote to earlier and when — your own proof of escalation.
A conversation on the phone has no standing. Sending everything in writing, and keeping your own copy, is the most useful habit in the whole process — even if you never have to file a complaint.
This article is for education only — it is not a buy or sell recommendation, makes no claim of guaranteed returns, and is not advisory. Rules, rates and mechanics are changed from time to time by the exchanges, SEBI and RBI, so verify every number yourself with your broker or an official source.