SECP Warns Public Against Fake Online Trading Platforms Offering Unrealistic Returns
Islamabad – The Securities and Exchange Commission of Pakistan (SECP) has issued a public warning against investing through unlicensed online trading platforms, websites, and mobile apps that promise unrealistically high returns in stock and securities markets.
The SECP has received complaints from licensed brokers and investors about suspicious platforms misusing names such as Interactive Brokers Group (IBKR), IGIL Securities Country, BMA Capital No.108/BMAC Global Pro, WTIC World Top Investor Competition, and Aviva Securities.
Key concerns raised:
- Fake dashboards showing fictitious profits.
- Deceptive social media promotions using logos of reputable firms and regulators.
- Manipulative tactics to build initial trust, followed by blocking access after large investments.
- No actual trading or investment activity takes place.
The commission stresses that only SECP-licensed brokers are authorized to offer trading in listed securities and commodities. Authorized broker lists can be found on the official websites of the Pakistan Stock Exchange (PSX) and Pakistan Mercantile Exchange Limited (PMEX).
Action in progress:
SECP is reporting fraudulent platforms and related bank accounts to the FIA, PTA, and State Bank of Pakistan (SBP) for strict enforcement action.
Public advisory:
- Avoid investing with unlicensed platforms.
- Do not share personal or financial details via unverified links, social media, or messaging apps.
- Always verify the legitimacy of any trading service before engaging.
This advisory comes amid a surge in online financial scams targeting unsuspecting investors across Pakistan.
