SECP Warns Public Against Another Illegal Trading Platform

The Securities and Exchange Commission of Pakistan (SECP) has identified another illegal trading platform operating under the name “Interactive Brokers Group (IBKR)”.   In a statement, SECP said 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.  “The general public is 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,” the statement said.  It also highlighted 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 here and here. SECP has warned the public not to deposit or invest funds with “Interactive Brokers Group (IBKR)” or any such other trading platform in whatsoever form and whatsoever arrangement.