ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) warns the general public regarding the proliferation of unauthorised online trading and investment platforms that lure investors with promises of quick profits through high-risk financial products.
These platforms facilitate trading in foreign exchange (forex), securities, commodities, options, and other speculative instruments — all without regulatory approval in Pakistan.
These entities, typically based offshore, operate without licensing or oversight from any Pakistani regulatory authority. Investors engaging with such platforms face grave risks, including potential fraud, misappropriation of funds, and total loss of investments—with no legal protection or recourse for recovery.
One such unauthorised 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 explicitly states that Quotex is not authorised to operate in Pakistan and has been flagged by multiple international regulators for running unauthorised operations. The matter has been referred to the Federal Investigation Agency (FIA), Pakistan Telecommunication Authority (PTA), and Google for immediate action, including blocking access to the platform within Pakistan.
Copyright Business Recorder, 2025
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