Fake Profit screenshots are the biggest scam in India’s trading scene. Scammers post fake screenshots and lure retail investors through Social Media to join their stock market training classes, paid groups, etc. These people may be bad traders who do not make money from trading. And many make money from training and pretend it was earned from trading. By paying for the classes of a bad trader, retail investors will definitely lose the fee, and by following their advice, they may lose their capital also.
So it is important that if you are following someone, you need to be sure they are good traders. Verified P&L by Sensibull is a step in that direction
Please let us know your questions and suggestions for improvement in the comments section below. Most importantly, let us know how a scammer can scam this system
What is this thing? How are Profit and Loss Verified by Sensibull?
Example first: Rohit shares his P&L at 3 PM on Twitter. The P&L screenshot goes to Twitter with a verification page link. Aswathi sees that P&L and clicks on the link at 320 PM. The link takes Aswathi to the verification website. Aswathi sees Rohit’s Profit and loss on the website, and his positions at 3 PM. The data Aswathi sees comes directly from the broker’s backend.
Rephrasing this for clarity:
- Rohit can choose to share his positions and P&L at a particular time from Sensibull
- Sensibull captures all positions and P&L at the time of sharing from the broker’s backend
- This is shared on social media with a verification link. People with this link have read-only access to the P&L and positions of the sharer
- Aswathi can click on the link, and verify the P&L at the time of sharing. The viewer also gets to see all the positions at the time of sharing.
- Please note that the image on social media is not verified. Anyone can photoshop it. What is real is the positions data and the P&L you will see on the website. This is because the data you see here is coming from the broker’s backend
Is this a free service?
Yes. 100% free. To see someone’s P&L, you do not need a Sensibull account. It is a free public page without login. Sharing the P&L is also free. To share P&L, you can login to Sensibull, and share from the positions page.
But I see people sharing live videos of profits on the internet. That is fake?
It is easy to change a few lines of HTML code to show any fake P&L for anyone these days. So videos can be fake. This applies to websites and apps. Also, it is easy to build duplicate apps of brokers to display any P&L a scammer wants to show.
Is your only objective to catch the scammers?
- No. There are two objectives here:
- Prevent fake or photoshopped photos and videos of scammers.
- More importantly, bring the good traders to the forefront. By verifying the P&L, you will know who is good. You can see the positions of good traders, and copy their trades
What if someone copies my trades?
- You are not sharing your trades. You are sharing a screenshot of your positions
- This is not live-shared. You can take a verified screenshot at 3PM and share it at 3:20 PM or even after market hours
- If you shared a screenshot once, people only get access to that screenshot. They do not get access to your positions, orders, or live trades. They have access to ONLY the screenshot shared back then
- Sensibull does not copy your trades. We are a SEBI-registered RA subject to the audits every year. We can’t run a scam and get away 🙂
How does a verified P&L screenshot help?
By seeing the verified screenshot, you can see if it is real or not. And if the screenshot is recent, you can also see their trades, and copy them if you think they are good trades. It is not just a verification service, it is also a way to copy great traders who make money
What difference does one screenshot make? What if the traders post P&L on profitable days only? Anyone can be lucky once or twice.
We agree. That is why we have a P&L screenshot history with many screenshots. We encourage genuine traders to post one screenshot every day. The higher the number of screenshots posted periodically with consistent profits, the more trust. If you see someone who has posted a profit 40 out of 50 days, you can follow them. If someone is posting only one or two screenshots, they may be fake
What if a trader chooses to share only profit-making days?
As we explained, if a trader shares screenshots regularly for many days, it is credible. If P&Ls on some days are missing, it is suspicious. We would encourage good traders to post regularly. And if many screenshots are missing, we would highlight that this is suspicious to the user
What is the authenticity of data? Can it be photoshopped? Or manipulated?
Good Question. The picture shared on social media is not the verified P&L or proof. The webpage linked with the picture is where you verify. So there is no question about photoshop.
The link takes you to a secure site, with the data directly from the position API of the broker through the backend. No one can touch this positions data or fake it. It is very difficult to manipulate
Why should we trust Sensibull with this verification?
Sensibull is India’s largest Options Trading platform with millions of users. Sensibull is tied up with Zerodha, Upstox, ICICI Direct, Angel One, IIFL, 5Paisa, etc who are the largest brokers in India. We are also a SEBI Registered Research Analyst. We are subject to constant audits by all our partners.
The data we display is the intellectual property of the exchange, coming directly from the broker’s backend. Manipulating/ faking has serious legal implications that no one would want to risk
What if a person takes a buy position in one account and an opposite sell position in another account?
This is prevented by using unique nicknames.
The person who shared this P&L screenshot has a unique ID in Sensibull. For example, one broking account is Sensibull ID SB001, another account is SB002 etc. So every account has a unique ID
Each unique ID is linked to only one Twitter account. And a Twitter account is linked only to one Unique ID. When someone shares P&L, we can show this unique user ID of Sensibull along with the screenshot and the linked Twitter account. But who will remember a number, right?
This is why we have a unique system-generated nickname.
Let us learn it with the example of Bunty, a trader who wants to scam. Bunty is Bunty123 on Twitter. Bunty’s partner Bubbly is Bubbly420 on Twitter. Bunty plans to buy NIFTY on one account and sell NIFTY on Bubbly’s account
Bunty’s ID is linked to Bunty123 on Twitter. And we give a unique nickname to Bunty’s account ID: example – White Rabbit. Bubbly’s ID is linked to Bubbly420 on Twitter. And a unique nickname – example – Blue Whale. So
Bunty = SB001 = Bunty123 = White Rabbit
Bubbly = SB002 = Bubbly420 = Blue Whale
Essentially, Bunty cannot keep switching his accounts with opposite trades. Because people will know Bunty is Bunty123 of Twitter and White Rabbit in Sensibull. If he uses Bubbly’s account, it is Bubbly420 and Blue Whale. Thus, we prevent the same person from using two different accounts to show P&L
If I am sharing my profit and loss, is my data safe? Are you getting access to my trades or trade history?
As a SEBI Registered RA, Sensibull does not do any trading activities directly or indirectly. We do not sell or transfer this data to any third party for any purpose. Also, we do not store your trades or order history if the trades are not taken from Sensibull. In short, your data is safe with you and your broker. We are just a channel in between that transmits the data without analyzing it or storing it.
What if my trainer still shares screenshots from the broker site? Can Sensibull verify it?
No. The trainer has to share from Sensibull. It is free and easy. So you need to ask your trainer why he is not sharing a verified P&L 😉
Is this only on Zerodha? What if I trade with a broker Sensibull is not integrated with?
It is available on Zerodha, Upstox, ICICI, AngelOne, 5Paisa, and IIFL. We are adding other brokers soon
Can I share the P&L screenshot link on Twitter only?
You can share it on any social media such as Telegram, WhatsApp, etc through a link