The Securities and Exchange Commission of Pakistan (SECP) on Wednesday warned the general public against investing in unauthorized online trading and investment platforms that lure investors with promises of quick profits through high-risk financial products.
In a statement, the regulator said such platforms facilitate trading in foreign exchange, securities, commodities, options, and other speculative instruments without any regulatory approval in Pakistan. Typically based offshore, such entities operate without licensing or oversight from any Pakistani authority, leaving investors open to risks such as fraud, misappropriation of funds, and total loss of investments without any legal recourse for recovery.
One such unauthorized platform currently targeting Pakistani investors is Qxbroker (Quotex), accessible through its website https://qxbroker.com/en/ and a mobile application on the Google Play Store. The SECP has explicitly stated that Quotex is not authorized to operate in Pakistan and has been flagged by multiple international regulators for running unauthorized operations. It said the matter has been referred to the Federal Investigation Agency, Pakistan Telecommunication Authority, and Google for immediate action, including blocking access to the platform within Pakistan.
The SECP strongly advises the public not to open accounts, deposit funds, or share any personal or financial information with Quotex or similar unregistered platforms. Investors should exercise extreme caution when encountering unsolicited investment offers, particularly those promoted through social media, WhatsApp groups, or influencer endorsements.
Before engaging with any investment service, the SECP advises individuals to verify its regulatory status by visiting the SECP’s official website at www.secp.gov.pk, where a complete list of authorized brokers and licensed investment advisers is available.