F&O addiction: CA discovers BTech student lost Rs 46 lakh in trading, shares another shocking fact

economictimes.indiatimes.com:

Roshan Agarwal highlighted the risks associated with Futures and Options (F&O) trading in India, which has seen a significant increase in trading volume in recent years. Agarwal shared the case of a third-year BTech student who had incurred substantial losses through F&O trading, a situation that came to light during the filing of the student's Income Tax Return (ITR).

Agarwal disclosed that the student had no income but had suffered a loss of 26 lakhs in F&O trading this year, following a Rs 20 lakh loss the previous year. Despite Agarwal's efforts to dissuade the student from pursuing quick income through F&O trading, the student returned with even bigger losses, according to the post. The student admitted to being addicted to trading, borrowing money from banks, friends, and even taking funds from his parents' accounts without their knowledge to finance his trading activities, the CA said.
Agarwal's post highlighted the role of influencers on social media platforms like Instagram and Telegram, who promote unrealistic dreams of quick riches, enticing naive individuals into risky trading without understanding its complexities. Many netizens were astonished by the extent of the student's losses and questioned how he managed to secure such funds without his parents' awareness.

How the student got the funds

In response to queries, Agarwal explained that the student had used personal loans, borrowed money from friends, and accessed small loan apps to fund his trading, leaving his parents in the dark about his