SECP Warns Against Fake Trading Apps Impersonating Brokers

ISLAMABAD: SECP has blasted a new red alert against unlicensed scam platforms and mobile apps that impersonate licensed brokers, deepfake dashboards, and dangle guaranteed mega-returns to rip off investors. These illegal predators swarm social media with fake profits, bogus tips, and stolen identities of brokers, influencers, even officials and regulators. They hook with free advice, flash early payouts, then lock accounts and vanish when big money lands. SECP hammers: Trade only through SECP/PSX/PMEX-licensed brokers — verify on official sites or lose everything. Never deposit with random apps or WhatsApp “gurus” — identity theft and total fraud guaranteed.