Pakistan’s Securities and Exchange Commission (SECP) said on April 9, 2025, that Qxbroker (Quotex) was not authorized to operate in Pakistan. It advised the public not to open accounts, deposit money, or share personal or financial information with Quotex or similar unregistered platforms. That is a dated statement about Pakistan, not a finding about Quotex’s legal status everywhere or its current accessibility.
What SECP said about Quotex
In its April 9, 2025 press release, SECP warned that offshore online platforms offering forex, securities, commodities, options, and other speculative instruments may operate without Pakistani regulatory approval. The regulator identified Qxbroker (Quotex) as one such platform and said it was not authorized to operate in Pakistan.
SECP cited risks including fraud, misappropriation of funds, losing the full investment, and having no legal protection or recourse to recover funds. Its advice was not to open an account, deposit money, or share personal or financial information with Quotex or similar unregistered platforms.
What is known about proposed action
SECP said it had referred the matter to the Federal Investigation Agency, Pakistan Telecommunication Authority, and Google for action, including blocking access to the platform within Pakistan. The release records a referral and intended action; it does not confirm that a block took effect or establish the outcome of any later investigation or enforcement.
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How to check whether a trading service is licensed
- Check the relevant Pakistani regulator’s information. Do not treat an app listing, website, advertisement, or social-media account as proof of authorization.
- For securities or futures trading, check official broker lists. SECP’s May 22, 2025 warning says securities and commodities trading in Pakistan should be conducted through SECP-licensed securities and futures market brokers and points readers to official broker lists at the Pakistan Stock Exchange (PSX) and Pakistan Mercantile Exchange (PMEX).
- Verify the firm and its contact details independently. Match the name and contact path against official regulator or exchange information rather than relying on links supplied by an unsolicited message or promoter.
A listing is a way to verify a broker’s stated regulatory status, not an endorsement of its services or a guarantee of returns or recovery if something goes wrong.
Warning signs SECP describes for online trading schemes
SECP’s May 2025 notice describes general patterns associated with fraudulent platforms. It does not establish that every pattern occurred in Quotex’s case.
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- Unverified apps or websites, or use of a legitimate firm’s name or logo without authorization.
- A dashboard displaying apparent profits or balances that may not reflect withdrawable money.
- Small early withdrawals that build trust, followed by pressure to deposit more.
Treat these as reasons to stop and verify, not as proof on their own that a particular service has committed fraud. Avoid sending more money or sensitive information while you check the service through official channels.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What this warning does—and does not—establish
SECP’s April 9, 2025 statement establishes the regulator’s position at that time: it said Quotex was unauthorized to operate in Pakistan and advised the public to avoid using it. The cited notices do not establish Quotex’s status in other countries, whether access is currently blocked in Pakistan, the result of any investigation, or whether any individual can recover money already sent. No loss rate or victim count is provided in these notices.
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