ISLAMABAD, November 15, 2024: The Securities and Exchange Commission of Pakistan (SECP) has raised an urgent warning regarding a fraudulent trading platform operating under the name “Interactive Brokers Group (IBKR).” The platform, which has been circulating through social media and WhatsApp groups, is promising unsuspecting investors high returns from trading on both the Pakistan Stock Exchange and international markets.
In its official statement, the SECP clarified that “Interactive Brokers Group (IBKR)” is not registered or authorized to operate as a trading platform for shares, either on the Pakistan Stock Exchange or any other international stock exchange. The commission strongly advised the public to refrain from investing through this platform, which is operating without the necessary licenses and regulatory oversight.
SECP has reiterated that any trading activity involving shares of listed companies or commodities must be carried out through licensed and regulated brokers. These authorized brokers are the only entities permitted to facilitate such transactions in compliance with Pakistani law. A list of SECP-licensed brokers is available on the official SECP website.
The SECP also cautioned investors to exercise caution when approached by unverified online platforms and emphasized the importance of verifying the legitimacy of any trading platform before engaging in financial transactions. The public is urged to report any suspicious platforms or activities to SECP to help prevent potential financial losses and safeguard against fraudulent schemes.
This warning follows a growing trend of illegal platforms exploiting social media to target potential investors, promising high profits with little to no risk. SECP has pledged to continue its vigilance in protecting the interests of investors and maintaining the integrity of Pakistan’s financial markets.
