SECP Warns Investors of Illegal Trading Platforms, Highlights Quotex's Unauthorized Operations

The Securities and Exchange Commission of Pakistan (SECP) has issued a public warning about the proliferation of unauthorized online trading and investment platforms that lure investors with promises of quick profits through high-risk financial products. These unregulated platforms facilitate trading in forex, securities, commodities, options, and other speculative instruments—all without obtaining regulatory approval in Pakistan.

According to the SECP, these entities typically operate offshore without licensing or oversight from any Pakistani regulatory authority. Investors engaging with such platforms face severe risks, including potential fraud, fund misappropriation, and complete financial loss, with no legal protection or recourse for recovery. 

SECP Especially Warns Against Quotex

Among the platforms targeting Pakistani investors, the SECP has specifically flagged Quotex, which operates via the website https://qxbroker.com and has a mobile app available on the Google Play Store.

The SECP has explicitly stated that Quotex is NOT authorized to operate in Pakistan and has already been flagged by multiple international regulators for unauthorized operations. The regulator has referred this matter to the Federal Investigation Agency (FIA), the Pakistan Telecommunication Authority (PTA), and Google for immediate action, including blocking access to the platform within Pakistan. 

The SECP urges the public to avoid opening accounts, depositing funds, or sharing personal or financial details with Quotex and other unregistered platforms. Investors are also advised to remain highly vigilant against unsolicited investment offers, especially those circulated via social media, WhatsApp groups, or influencer promotions.