The Securities and Exchange Commission of Pakistan issued a public warning against investing through unlicensed online trading platforms, websites and mobile applications that promise unrealistic returns on stocks or other financial products in local or international securities markets. The regulator noted it has received complaints from licensed securities brokers and investors about platforms including Interactive Brokers Group (IBKR), IGIL Securities Country, BMA Capital No.108/BMAC Global Pro, WTIC World Top Investor Competition and Aviva Securities. It described scam tactics including promotion via social media, the misuse of names and logos of reputable firms and authorities, and fake dashboards showing fabricated balances and profits, with small withdrawals sometimes allowed initially before access is blocked when larger deposits are made or withdrawals are requested. SECP reiterated that trading in securities of listed companies and commodities in Pakistan can only be conducted through SECP-licensed securities and futures market brokers, and said it is reporting identified platforms and associated bank accounts to the Federal Investigation Agency, Pakistan Telecommunication Authority and the State Bank of Pakistan for action.
Securites & Exchange Commission of Pakistan 2025-05-22
Securities and Exchange Commission of Pakistan warns public against unlicensed online trading platforms and high return investment scams
The Securities and Exchange Commission of Pakistan (SECP) issued a warning against unlicensed online trading platforms promising unrealistic returns. Complaints have been received about platforms using scam tactics such as fake dashboards and misuse of reputable firm names. SECP is reporting these platforms to relevant authorities for further action.