The government of Pakistan has warned the citizens against investing in illegal forex trading platforms as it may result in the loss of their hard-earned money.
Recently, the government has initiated a public awareness drive, asking the people through mobile messages to remain cautioned about illegal FX trading platforms.
The government has warned citizens that FX trading platforms such as OctaFX, Exness, ExpertOption, and Easy Forex are illegal, and asked them to avoid indulging in any business with them.
“OctaFX/Exness/ExpertOption/similar FX trading platforms are illegal. Do not invest through such website/app or give money to any person to trade on your behalf,” read the text message sent by the government of Pakistan through Mobile SMS Service.
Last year, the State Bank of Pakistan also declared forex trading platforms like OctaFX and Easy Forex illegal and warned citizens that these platforms were regulated neither by the Central Bank nor the Securities and Exchange Commission of Pakistan (SECP).
The State Bank observed that such digital trading platforms were luring people through social media advertisements to buy and invest in their products or services.
