The Securities and Exchange Commission of Pakistan (SECP) has issued a stern warning to the public against investing through unlicensed online trading platforms, apps, or websites promising unrealistic profits in stock or commodity markets.
SECP has received multiple complaints from both registered brokers and investors about fraudulent platforms such as Interactive Brokers Group (IBKR), Aviva Securities, BMA Capital No.108/BMAC Global Pro, IGIL Securities Country, and WTIC World Top Investor Competition.
Fake Platforms, Real Losses
These scams are often promoted via social media, using fake dashboards, misleading logos, and even forged regulatory endorsements to trick investors. Victims are often allowed to withdraw small profits early on, but later face blocked access and financial loss when trying to reclaim larger amounts.
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“These entities misuse the names of trusted institutions to appear legitimate,” an SECP official stated. “In reality, no genuine trading takes place.”
Only Use SECP-Licensed Brokers
The SECP reminds investors that only licensed brokers listed on the Pakistan Stock Exchange (PSX) and Pakistan Mercantile Exchange (PMEX) websites are authorized to deal in securities and commodities in Pakistan.
Report and Verify Before You Invest
Fraudulent apps and bank accounts linked to these scams are being reported to the FIA, PTA, and State Bank of Pakistan (SBP) for further action. The public is advised to always verify the legitimacy of any investment service and never send money to unverified individuals or platforms.
