The Securities and Exchange Commission of Pakistan (SECP) issued a public warning urging investors to avoid unlicensed online trading platforms, websites and mobile applications that promise unusually high or risk-free returns while impersonating licensed securities and commodities brokers. These schemes are often promoted on social media using unverified apps and links that mimic legitimate trading platforms and may misuse the identities of licensed brokers, reputable institutions, professionals, finfluencers, senior government officials and even regulators. SECP highlighted tactics including “free” investment tips or advisory services that lead to deposits, fabricated dashboards showing fictitious balances and profits despite no real trading, small early withdrawals to build trust, and subsequent blocking of access when larger withdrawals are requested. The regulator reiterated that securities and commodities trading in Pakistan can only be conducted through SECP-licensed securities brokers and futures market brokers, with authorised broker lists available on the SECP, Pakistan Stock Exchange and Pakistan Mercantile Exchange websites, and advised the public to verify legitimacy and avoid sharing personal or financial information with unknown sources.

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