Islamabad, May 23, 2025: The Securities and Exchange Commission of Pakistan (SECP) has raised fresh red flags over the rising number of unlicensed online trading platforms deceiving Pakistani investors with fake promises of high returns and low risk.
As financial fraud continues to evolve with digital tactics, SECP urges citizens to stay vigilant and avoid these unauthorized entities operating under the guise of legitimacy.
In a recent advisory, SECP revealed a surge in complaints against fraudulent trading platforms like Interactive Brokers Group (IBKR), IGIL Securities Country, BMA Capital No.108/BMAC Global Pro, WTIC World Top Investor Competition, and Aviva Securities.
These platforms are luring investors through social media and mobile apps by showcasing manipulated dashboards and fake profit visuals that imitate legitimate trading activity.
“These scams operate under false pretenses, using names, logos, and credentials of reputed financial firms to appear genuine,” noted an SECP spokesperson. “Victims are initially allowed to withdraw small profits to gain their trust, only to later be pressured into making bigger investments.
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Once larger deposits are made or withdrawal is attempted, access to the account is suddenly denied.”
This sophisticated fraud technique relies on the psychological bait of ‘easy money’ and exploits the public’s lack of awareness. Many investors only discover the scam after significant financial loss.
The SECP reminds investors that only SECP-licensed brokers are legally allowed to conduct trading in stocks and commodities. Verified lists of authorized brokers are available on the official websites of the Pakistan Stock Exchange (PSX) and the Pakistan Mercantile Exchange Limited (PMEX).
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To crack down on these scams, the SECP is actively reporting identified platforms and related bank accounts to the Federal Investigation Agency (FIA), Pakistan Telecommunication Authority (PTA), and the State Bank of Pakistan (SBP) for prompt enforcement actions.
