Patel Wealth
We checked Patel Wealth against the AskCheck register. It has been reported (2022) and carries the red flags below. Treat it with extreme caution.
Why it’s flagged
What we found
Patel Wealth claims it offers a diverse range of financial services which includes institutional and retail brokerage of Equity, Derivatives, Commodities, Currency, Online Trading, etc. Besides, Patel Wealth also claims to have membership in multiple authorities, including: 1) The National Stock Exchange of India Ltd (NSE); 2) The formerly Bombay Stock Exchange (BSE); 3) The Multi Commodity Exchange of India Limited (MCX). However, please be informed that none of the above authorities is a forex regulator that issues licenses for forex trading or regulates entities engaging in forex. The truth is, Patel Wealth is not under valid regulation by any regulators to provide investment services. Investors' funds in this company are unsafe and cannot be protected by any law. Therefore, it is a scam.
Assessment source: FastBull BrokersView.
What to do next
- Stop sending money. Don’t make another deposit, pay a “tax” or “release fee”, or share remote-access to your device.
- Gather your evidence. Save statements, chat logs, transaction IDs and the wallet addresses you paid to.
- Report it to your regulator and to local police / action-fraud line so it’s on the official record.
- Add your report here so the next person searching this name is warned — report Patel Wealth.
- Verify on the register. Cross-check the full entry on the SentFunds register before you trust anyone offering to help.