SECP warns against fraudulent trading platform "Interactive Brokers Group"

By MG News | November 15, 2024 at 04:15 PM GMT+05:00

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November 15, 2024 (MLN): The Securities and Exchange Commission of Pakistan (SECP) has identified another illegal trading platform operating under the name "Interactive Brokers Group (IBKR)".

This platform is being promoted through social media and WhatsApp groups. The public is being enticed to invest through this platform with promises of substantial returns from trading on the Pakistan Stock Exchange and international stock markets.

SECP has informed that "Interactive Brokers Group (IBKR)" is neither registered nor licensed by SECP to operate any platform for trading shares on the Pakistan Stock Exchange or international stock exchanges.

It said that trading in shares of listed companies and/or commodities is only allowed through SECP-licensed securities and futures brokers. A list of licensed brokers can be found at PSX and PMEX weblinks.

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