ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has issued a warning to the public about a fake trading platform operating under the name Interactive Brokers Group (IBKR).
This unregistered entity is using social media and WhatsApp groups to lure individuals with promises of high returns from trading on the Pakistan Stock Exchange (PSX) and international markets.
Platform Not Registered with SECP
The SECP clarified that Interactive Brokers Group (IBKR) is not registered or licensed to conduct trading operations in Pakistan. It does not hold authorization to facilitate trading on the PSX or international stock exchanges.
The regulator emphasized that trading in shares or commodities in Pakistan is only allowed through SECP-licensed brokers. These brokers are certified to ensure transparency and compliance with regulatory standards.
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Public Advised to Verify Broker Credentials
The SECP urged investors to verify the credentials of trading platforms before investing. A complete list of SECP-licensed securities and futures brokers is available on the following official websites:
Social Media Exploited to Deceive Investors
Fraudulent platforms like Interactive Brokers Group (IBKR) often exploit social media platforms to spread misinformation and attract unsuspecting investors. The SECP advised the public to remain cautious of such schemes and report any suspicious activities to the regulatory authority.
Protecting Investments
The SECP continues to monitor the financial markets to protect investors from scams and unauthorized platforms. It reaffirmed its commitment to safeguarding public interests and ensuring the integrity of Pakistan’s trading ecosystem.
Investors are encouraged to seek professional advice and rely only on licensed brokers for their trading needs.
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