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The Securities and Exchange Commission of Pakistan (SECP) has issued a warning about an illegal trading platform operating under the name “Interactive Brokers Group (IBKR).” According to the SECP, the platform is being promoted through social media and WhatsApp groups, misleading the public with promises of high returns from trading on the Pakistan Stock Exchange as well as international stock markets.
In an official release, SECP stated that Interactive Brokers Group (IBKR) is not authorized by the Commission to facilitate any kind of trading, especially in the Pakistan Stock Exchange(PSX) or any other international exchanges.
The Commission further emphasized that it is illegal to trade in shares of listed companies and commodities can only be conducted through brokers licensed by SECP. A list of these authorized brokers is easily found on the official website of the SECP.
SECP strongly cautioned the public against investing or depositing funds with ”Interactive Brokers Group (IBKR)” or any other unregulated trading platforms. It urged individuals to ensure they are dealing with rightly accredited person or company before any business transactions.
