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Terms & Conditions


By accessing or using the website www.axecap.in or any of its associated pages and services (hereinafter referred to as the “Site” or “Platform”), you acknowledge that you have read, understood, and agreed to these Terms and Conditions (“Terms”). If you do not agree to these Terms, you must immediately discontinue use of the Platform.

The Platform is owned and operated by Truestock Universe Private Limited (“Company”), a SEBI-registered Research Analyst, which provides access to research-based model portfolios, subscription management, and broker integrations for automated order execution.

AxeCap does not execute trades, hold client funds or securities, or provide portfolio management or personalized investment advice. All trades are initiated and authorized solely by the User through their linked brokerage account. The Platform functions exclusively as a technology and research provider, enabling Users to access, replicate, and monitor research-backed stock portfolios.

Your continued use of the Platform signifies your acceptance of these Terms and any modifications made to them from time to time.


1. Definitions

For the purpose of these Terms:

  • “Company” refers to Truestock Universe Private Limited, the entity operating under the brand name AxeCap.
  • “Platform” or “Site” means the web and mobile interfaces operated by AxeCap.
  • “User”, “Client” or “You” refers to any individual or entity that accesses or uses the Platform.
  • “User Data” means information voluntarily provided by the User, including name, contact details,broker linkage tokens/authorizations (no passwords), and subscription activity.
  • “Content” refers to all material available on or through the Platform, including but not limited to text,graphics, images, videos, software, research reports, data, analytics, notifications, and any other information or materials provided by AxeCap or third-party partners.
  • “Business Day(s)” means any day on which scheduled commercial banks are open for business in Bhopal, Madhya Pradesh, India.
  • “Service(s)” refers to research services offered by the RA, including research articles, data, model portfolios and research reports, prepared in compliance with the RA Regulations and applicable circulars/guidance, for which clients pay a fee.
  • “Digital Medium” includes AxeCap’s website, web applications and any third-party platforms engaged by the RA to deliver the Services.

2. What We Offer (and How)

The Platform enables Users to:

  • Access portfolios consisting of a diversified selection of stocks and securities.
  • Subscribe to and replicate such portfolios through linked brokerage accounts.
  • View research data, analytics, and automated trade allocation tools.
  • Monitor performance and portfolio updates.

Our role is strictly limited to:

  • Providing research and insights solely for informational purposes, leaving it to the User’s discretion whether to subscribe to or replicate any portfolio.
  • Displaying portfolio compositions and analytics;
  • Facilitating broker integrations through secure APIs;
  • Displaying order and position data as received from the broker.

All trades are executed solely through the User’s broker account, with full control and authorization resting with the User. We do not execute, process, or settle any trade independently, nor does it hold custody of funds or securities.
You are advised to consult a qualified professional before making any investment decisions. All investment decisions are made at your own risk.


3. Who Can Use the Platform

Use of the Services is limited to persons competent to contract under the Indian Contract Act, 1872. Minors, undischarged insolvents or any person legally incompetent to contract are not eligible. By registering, the Client represents that he/she is at least 18 years of age and that all submitted information is true, accurate and complete.


4. Account Creation, Access & Security

To use the Services, Clients must complete our registration process. The Client agrees to provide accurate, current and complete information as required by us and to keep such information updated. We may cancel or suspend access if registration data is false, incomplete or misleading.

4A. Registration and Access

By registering on the Digital Medium, the Client certifies that all information provided is true, current and complete. We may, in our sole discretion, restrict, suspend or terminate access without prior notice in the event of (i) unauthorised use or attempted transfer of account rights, (ii) breach of these Terms, or (iii) unlawful, fraudulent or abusive activity. Access is provided on an “as is” basis and may be suspended or restricted temporarily for maintenance, security or operational reasons.
You will not hold us liable for any improper, fraudulent or unauthorised use of your devices, email or phone, or for third-party misuse of your access. You are solely responsible for all activity under your credentials and shall indemnify us for losses arising from misuse.


5. Subscriptions, Pricing, Payments & Refunds

By subscribing, the Client confirms that the choice to avail our research is made at the Client’s sole discretion. We shall render Services in accordance with the RA Regulations and applicable SEBI directions.

5A. Subscriptions, Auto-Renewals and View-Only Access
Certain Services require a paid subscription.

Unless expressly stated otherwise, subscription fees are one-time per term; if auto-renewal is enabled, renewals will process automatically until cancelled before the next billing cycle. Upon expiry or non-renewal, the Client may retain view-only access to previously delivered content but will not receive further updates, rebalances or notifications. Prices, plans and features may be updated from time to time.

5B. Pricing and Payments

The Client shall pay the agreed fees and applicable taxes/charges through permitted, traceable, non-cash modes only. We may revise fees or payment terms; any changes will be posted on the Digital Medium and/or notified by email and will become effective upon posting/notification.
We may, subject to regulations, collect fees in advance for a permitted period. For individual/HUF Clients, the current aggregate cap is INR 1,51,000 per annum per family (exclusive of statutory charges) and may change as per SEBI/RAASB directions.
Regulatory fee caps apply only to individual/HUF Clients and not tonon-individual clients or accredited investors, whose fees may be contractually negotiated.

5C. Refunds and Cancellations

Subscriptions are non-refundable once activated, except in cases of duplicate payments or operational errors acknowledged by us, or where a refund is otherwise required by law/regulation. Clients may cancel upcoming renewals (where applicable) any time before the next billing date. Refund eligibility, if any, is subject to our discretion and applicable policies, without prejudice to pro-rata refunds mandated for early termination scenarios.

5D. Payment Methods

Fees may be paid via cheque, online bank transfer, UPI, cards, etc. Cash is not permitted.

5E. Fee Caps (Individuals/HUF only)

Fees charged to individual/HUF Clients are subject to maximum limits prescribed by SEBI from time to time.

  • Current cap: INR 1,51,000 per annum per family (exclusive of statutory charges).
  • Caps do not apply to non-individual clients and accredited investors.

5F. Advance Fees and Pro-Rata Refunds

The Company may collect fees in advance, provided such advance collection does not exceed the maximum duration permitted by SEBI (currently up to one year). If this arrangement is terminated before the end of the subscription term by either party, the Client shall be eligible for a pro-rata refund of advance fees for the unexpired period. Fees for Services already rendered are non-refundable. Refunds, where applicable, shall be processed in a manner consistent with regulatory requirements.


6. Regulatory Compliance & RA Declarations

Both parties shall comply with the SEBI Act, 1992, the RA Regulations, and all applicable circulars, notifications and directions issued by SEBI (and other competent authorities) from time to time, as well as these Terms.
By subscribing, the Client declares: “I/We have reviewed and understood the terms applicable to a research analyst under the RA Regulations, including fees. I/We subscribe for our own use and will rely on the research based on our independent judgement of its conclusions.”
The Client acknowledges:

  • Investments based on research recommendations are subject to market risk.
  • Recommendations do not assure returns.
  • Losses, if any, on investments made relying on the research are the Client’s own responsibility. The Client agrees to review the Investor Charter for Research Analysts as set out in the SEBI Master Circular for Research Analysts (SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2024/49 dated May 21, 2024) or as updated by SEBI.

RA Declarations:

  • We are duly registered as a Research Analyst: [INHxxxxxxxxx], Registration Date:[DD Mon YYYY].
  • We have and maintain the registration and qualifications required by law.
  • Our Services do not conflict with any legal or contractual obligation.
  • Maximum fee chargeable to individual/HUF Clients is INR 1,51,000 per annum per family, subject to revision by SEBI/RAASB (BSE Ltd.).
  • Recommendations carry no guarantee of returns.

If RA were an individual (not applicable here unless operated as an individual RA): the individual RA would additionally confirm no full-time outside occupation that compromises independence of research.


7. Conflicts of Interest

The Company shall identify, monitor, disclose and manage conflicts of interest in accordance with the SEBI (Research Analyst) Regulations and applicable circulars. Disclosures will be made in the manner prescribed from time to time. The Company will promptly disclose any conflict that may reasonably influence the Services provided.

7A. Material Interests

The Company and its directors, employees, or affiliates may, from time to time, hold positions or have financial or other interests in securities or issuers referenced in research distributed via the Digital Medium. Any such interests or relationships that require disclosure under applicable laws or regulations shall be notified to Clients in a timely manner. Clients should consider such disclosures when evaluating the relevance of any research.


8. KYC & Your Information

The Client shall submit information and documents in the form and manner required by us and/or as mandated bySEBI from time to time. We may verify the Client’s KYC status with a KYC Registration Agency (KRA). The Client consents to our submitting and retrieving KYC records as permitted.


9. User Responsibilities & Prohibited Conduct
9A. User Obligations

You agree to: (a) provide accurate, complete and up-to-date information; (b) maintain confidentiality of credentials and remain responsible for all activity under your account; (c) verify all trades executed via any linked broker; (d) acknowledge that modifications made directly in the broker account may not auto-sync and will update on the next rebalance cycle or upon contacting support; (e) use the Services only for lawful purposes and not engage in unauthorised data extraction, reverse engineering or activity that violates securities or other laws; (f) respect the intellectual property rights of us and third parties; and (g) accept that we are not responsible for losses arising from delayed rebalances, market volatility, execution delays or connectivity issues.

9B. Protection of Access Credentials

The Company will never request login credentials or OTPs to the Client’s trading, demat or bank accounts. The Client must not share such credentials with any person, including anyone claiming affiliation with the Company. The Client is solely responsible for the security of devices and authentication methods used to access the Services.

9C. Contact Information Updates

The Client shall ensure that the contact information provided on the Platform, including email and mobile number, remains accurate and up to date at all times. Notices sent to the last updated contact details shall be deemed validly delivered.

9D. Prohibited Technical Conduct

You must not interfere with platform functionality, circumvent access controls or APIs, probe or test system vulnerabilities, or deploy automated tools (including bots, scrapers, spiders or crawlers) for data extraction unless expressly permitted in writing. We may suspend or terminate access for misuse or suspicious activity.
We may refuse Service to anyone at our discretion. You understand that data may traverse multiple networks and be adapted to technical requirements. You shall not copy, distribute, resell or exploit any part of the Services without our prior written consent.


10. Investment Risk, Performance & Return Disclaimers

Investing in securities markets involves risks. Clients should read all relevant documents carefully before investing.

10A. Market Risk Statement
  • All investments are subject to market volatility and the risk of loss.
  • Investments made on the basis of any research or tools are exposed to market risks; recommendations or model portfolios provide no assurance of returns.
  • Reliance on any research, analysis, or outputs is at the Client’s judgment and responsibility.

10B. No Assured Returns or Guarantees
  • No guaranteed, fixed, or assured returns are offered; capital preservation is not assured.
  • We do not guarantee profits, accuracy of outcomes, or risk-free results.
  • Guaranteed/assured return schemes or similar arrangements are not offered and are prohibited by law.
  • Regulatory status does not imply performance: SEBI registration, RAASB enlistment, and NISM certification do not assure returns or investment success.

10C. Past Performance Non-Indicative
  • Past performance is not indicative or predictive of future results.
  • Any performance metrics, charts, or illustrations are for information only and may exclude transaction costs unless expressly stated.
  • Opinions, projections, and estimates reflect analyses and assumptions as of the report date and may change without notice.

10D. Third-Party Data and Content Limitations
  • Data used in research, analytics, or market information may be sourced from third parties, is unaudited and not certified by us, and is provided “as is.”
  • Accuracy, completeness, and timeliness of third-party data and content are not guaranteed; we are not liable for errors, omissions, or deficiencies, or for outcomes arising from their use.
  • Third-Party Content reflects the views of its providers, does not constitute our advice, and may not be reproduced or commercially used without the provider’s consent.

10E. Nature of Content, Tools, and Client Responsibilities
  • All research, model portfolios, analytics, and tools are provided for informational and educational purposes only and do not constitute personalised investment advice, a solicitation, or a recommendation to trade. Our research is not an invitation to invest and should be treated as one input among many, in light of your risk appetite.
  • Use of the Services is at the Client’s sole risk and the Services are provided on an “as is” and “as available” basis. Any material downloaded or obtained through the Services is at the Client’s discretion and risk; we are not responsible for device damage or data loss.
  • No warranty is made that:
    a.information or outputs are accurate, complete, current, verified, or reliable;
    b.the Services will meet requirements or be uninterrupted, timely, secure, or error-free; or
    c.outputs from analytics, tools, or reports are free of error.
  • Clients must make independent decisions based on their objective s, risk profile, and circ umstances. No assurance of returns, performance, or preservation of capital is given.

11. Execution Facilitation and No Discretionary Control

The Company does not operate as a broker, portfolio manager, or authorised representative of the Client. The Company does not hold or control Client funds or securities. Where the Platform provides execution-facilitation features through authorised broker APIs, all orders shall:
a. be initiated solely on the Client’s instruction and explicit authorisation,
b. be routed directly to and executed by the Client’s broker, and
c. remain fully within the Client’s control, including approval or revocation of execution permissions.
The Company shall not independently place, modify, cancel, or execute any order without the Client’s confirmation. The Client must review and authorise all orders before submission.


12. Intellectual Property and User Content
12A. Trademarks

“AxeCap”, its logos, and names/logos of individual Services are trademarks of Truestock Universe Private Limited. You shall not use or display AxeCap trademarks without prior written permission.

12B. User Content
Where the Digital Medium allows you to submit content(e.g., feedback or preferences),

you grant us a limited, non-exclusive, royalty-free licence to use such content internally for analytics, research and service improvement. You shall not upload content that is illegal, defamatory, obscene, infringing, misleading, harassing, invasive of privacy, or that contains malware or harmful code, impersonates others or violates third-party rights. We may remove such content at our discretion.

12C. Blog & Editorial Content (Informational Use Only)

Content published on our blog (articles, posts, explainers, videos, infographics, and newsletters) is editorial/informational and does not constitute investment advice, solicitation, or a recommendation. Views expressed may be those of the author as of the date of publication and may change without notice. We do not undertake to update blog content and we make no representation as to accuracy, completeness, timeliness, or suitability for your circumstances. Past performance is not indicative of future results.

12D. Comments & Community Guidelines

Where comments or discussions are enabled, you agree to post only lawful, respectful, non-infringing content. We maymoderate, edit, or remove comments at our discretion and may suspend accounts for repeated violations. We are not responsible for statements made by users in comments.

12E. Guest/Contributor Content & Sponsorship

From time to time, we may host guest posts or sponsored/editorially supported content. Such content is provided “as is” for information only and does not imply our endorsement. We will label sponsorships or material connections where required.

12F. Sharing, Embeds, and RSS

You may share blog links and use brief quotations with proper attribution and a live link back to the original post.No reproduction in full, republishing, scraping, bulk downloading, or creating derivative works without our prior written consent. Embedding is permitted only where the platform’s standard embed tools are used and attribution is preserved. Commercial syndication requires a written licence.

12G. Images, Charts, and Third-Party Assets

Images, charts, logos, and media appearing on the blog may be owned by us, our licensors, or third parties and are protected by IP laws. Do not reuse unless clearly licensed for reuse or you have our written permission. Third-party marks are the property of their respective owners.


13. Third-Party Services & Content

The Digital Medium may display market data, ratings, research, or other content from third parties (“Third-Party Content”). Such content is provided “as is” for informational purposes only. We do not guarantee the accuracy, completeness, or timeliness of any Third-Party Content and disclaim responsibility for errors, omissions, or any outcomes resulting from its use. Third-Party Content represents the views of its respective providers and does not constitute our advice. Reproduction or commercial use of Third-Party Content is prohibited without the provider’s consent.
We may use third-party technology vendors to support the Digital Medium. These vendors do not provide investment advice or research, and we retain full control over our own research and compliance functions.


14. Platform Availability

We strive to keep the Services available and error-free; however, access may be suspended or restricted for maintenance, upgrades or new features. We shall not be responsible for any interruption or unavailability.

14A. Content Delivery and Availability

Content and subscription products may be delivered via the Digital Medium and/or email/SMS/WhatsApp. While we endeavour to deliver updates promptly, delays may occur due to technical, operational or connectivity issues (including broker integrations). Delays in research delivery, notifications, rebalances or synchronisation shall not constitute a breach of these Terms.


15. Data Usage, Privacy & Communications

We may access, preserve and disclose Client information if required by law, to respond to claims, prevent fraud, manage risks, support Clients, improve products, or protect rights/property/safety. We may engage authorised agents/third-party vendors/partners to help deliver Services; you consent to necessary data sharing consistent with law and these Terms.

15A. Data Collection and Usage

We collect User Data (including personal, transactional and limited identification data) to operate the Digital Medium, improve Services and comply with regulatory obligations (e.g., portfolio subscriptions, broker-integration metadata, performance summaries, order updates, and identification details such as PAN where required). We do not collect or store brokerage passwords or full trade credentials. By using the Services, you consent to collection, storage, processing and analysis of data for providing, maintaining and improving Services, and consent to security/analytics monitoring as described in the Privacy Policy. Anonymised/aggregated analytics may be shared with partners, service providers or regulators when legally required.

15B. Corrections, Updates, and Takedown

If you believe any blog content is inaccurate or infringes rights, contact care@axecap.in with details (URL, description, proof of rights/issue). We may correct, update, or remove content at our discretion. Rights-holders may submit a takedown request with adequate proof of ownership and identification; we may also forward notices to the contributor.

15C. Electronic Communications

By using the Services, the Client consents to receive electronic communications, including service announcements, alerts and notices, via registered email and/or mobile channels (including WhatsApp/SMS). We shall not be liable for delays or failures in message delivery due to network or technical issues.

15D. Newsletter & Blog Communications

By subscribing to our blog or newsletter, you consent to receive electronic communications as described. You can unsubscribe any time using the link provided in the email; essential service notices may still be sent where applicable.


16. No Warranties

The Services are provided “as is” and “as available.” We disclaim all warranties, express or implied, including merchantability and fitness for a particular purpose. We do not warrant that the Services will be uninterrupted, timely, secure or error-free. Any material accessed is at your risk.


17. Limitation of Liability

To the maximum extent permitted by law, you assume all risk from using the Services. We are not liable for indirect, incidental, special, exemplary or consequential damages (including lost profits/data/goodwill, service interruption or substitute services). Our aggregate liability, if any, shall not exceed fees received from you in the six (6) months preceding the claim for proven fraud, gross negligence or wilful default.


18. Indemnification

You shall indemnify us from losses, liabilities, damages, costs and expenses arising from: (i) your breach, non-performance or misrepresentation; (ii) acts, errors, negligence or wilful misconduct by you or your personnel/agents; or (iii) third-party claims linked to your use of the Services.


19. Suspension and Termination

These Terms remain effective until terminated. For auto-renew plans, the arrangement continues unless cancelled by either party with 30 days’ priorwritten notice.
We may suspend, block or terminate access (with or without notice) if:

  • illegal, fraudulent or abusive activity is suspected;
  • registration information is false, inaccurate or incomplete;
  • you spread misinformation/market rumours, or unlawfully redistribute research;
  • there is a material breach of these Terms;
  • you are subject to insolvency/restructuring events;
  • we lose statutory licences or registrations necessary to provide Services (you may then terminate without penalty);
  • a governmental or regulatory action is taken against us (you may terminate immediately).

The arrangement terminates automatically upon the Client’s death.
Accrued fees up to the effective termination date remain payable within 30 Business Days. If our RA registration is suspended 60 days or cancelled, we will refund feespro-rata for the unexpired subscription period.


20. Changes to Terms, Platform Modifications and Notices
  • We may amend these Terms by posting an updated version on the Platform; material changes will be notified in advance where required by law.
  • Features may change, be suspended or discontinued without prior notice; we may push automatic updates.
  • You may receive service announcements, administrative notices and permitted marketing.
  • You are solely responsible for the accuracy of the information submitted.
  • Links to third-party sites are for convenience and do not constitute endorsement; use is subject to such sites’ terms.
  • We are not liable for unauthorised access to Client data or transmissions via the Services.
  • You shall not represent yourself as our agent or bind us to obligations.
  • An optional execution-facilitation layer, if made available via a vendor, is purely at your discretion; we do not receive commissions for the same.
  • We may share Client account information with authorised vendors/partners solely to deliver Services, consistent with law.

21. Compliance and Conduct

You shall comply with applicable securities laws, brokerage regulations and related legal requirements in India. You shall not use the Digital Medium to provide SEBI-regulated advice or research unless duly authorised and registered. We may monitor usage, investigate suspected violations and report unlawful activity to authorities as required by law.


22. Governing Law and Jurisdiction

These Terms shall be governed by the laws of India. Courts at Bhopal, Madhya Pradesh shall have exclusive jurisdiction over disputes arising from these Terms or the Services.



23. Force Majeure

We are not responsible for delays caused by events outside reasonable control including natural disasters, power or telecom failures or regulatory actions.


24. Assignment

Rights and obligations under these Terms are personal to you and may not be assigned or transferred. We may assign or transfer our rights/obligations (including in connection with a merger, acquisition, reorganisation or sale of assets) with notice by posting on the Digital Medium or via email.


25. Relationship
Use of the Services does not create any partnership, joint venture, employment, agency or

fiduciary relationship between you and us or our affiliates. You have no authority to bind us.


26. Residency Status

The Client confirms being a Resident under applicable Indian laws (unless otherwise expressly agreed and permitted under law).


27. Technology Providers and Use of AI

The Company engages third-party vendors for technology infrastructure. Vendors do not provide investment advice. We may use AI tools to summarise earnings calls, filings and reports, and to support internal drafting/quality checks. Final research content is reviewed by human analysts; AI outputs do not constitute independent advice.


28. Changes to Terms and Services

We may modify these Terms by posting updates on the Platform. Continued use signifies acceptance. Services, features and availability may change over time.


29. Severability

If any provision of these Terms is held invalid, the remaining provisions shall remain in full force and effect.


30. No Waiver

No failure or delay in exercising any right under these Terms shall constitute a waiver of that right.


31. Entire Agreement

These Terms constitute the entire agreement between the Parties regarding the Services and supersede all prior understandings.


32. Grievance Redressal

For support and grievances:

If unresolved: