SECP Issues Public Warning Against Unauthorized Online Trading Platform

The Securities and Exchange Commission of Pakistan (SECP) has issued a warning to the public about the growing number of unauthorized online trading and investment platforms targeting Pakistani investors with promises of quick and high returns through risky financial products.

These platforms—offering services like forex trading, commodities, securities, options, and other speculative instruments—are operating without regulatory approval in Pakistan. Many are based offshore and are not licensed or monitored by any local regulatory authority.

The SECP cautions that engaging with these unregistered entities poses serious risks, including potential fraud, loss of funds, and no legal protection or means of recovery for investors.

One such platform identified is Qxbroker (Quotex), which is accessible through its website and a mobile app available on the Google Play Store. The SECP has confirmed that Quotex is not authorized to operate in Pakistan and has already been flagged by multiple international regulatory bodies for unauthorized activities.

The matter has been referred to the Federal Investigation Agency (FIA), Pakistan Telecommunication Authority (PTA), and Google for urgent action, including blocking the platform’s access in Pakistan.

The SECP strongly advises the public not to open accounts, deposit funds, or share personal or financial information with Quotex or any similar unregistered platforms.

Additionally, investors are urged to be extremely cautious of unsolicited investment offers, especially those circulating via social media, WhatsApp groups, or influencer promotions.

Before investing with any platform, individuals should verify its regulatory status on the SECP’s official website, which provides a full list of authorized brokers and licensed investment advisors.