The Pakistan Telecommunication Authority (PTA) has issued a stern advisory, warning citizens against investing in unauthorized foreign Forex trading platforms. Highlighting platforms such as Exness, Expert Option, and OctaFX, the PTA labeled these as illegal due to their lack of proper licensing and regulatory approval.
According to the PTA, these social media platforms are unsafe and unapproved, which means investors can easily lose their money to scammers. The advisory aims to protect citizens from fraud, as many have already reported considerable losses on such platforms.
The PTA emphasized its commitment to protecting the consumers and maintaining the effector of the Pakistan’s financial system. It encouraged citizens to clarify the authenticity of Forex trading platforms before investing in them and also report any such activities to the PTA.
To strengthen this further, the PTA has said that it will not allow or tolerate Pakistanis involved in the operation of unauthorised trading platforms , reinforcing its role in combating financial fraud and maintaining a secure financial environment for Pakistanis.
Khyber Pakhtunkhwa Govt Ready to Acquire PIA with Bid Exceeding Rs10bn