SECP Warns: Illegal Trading App Poses as Licensed Broker, Misuses Celebrity Images in Deceptive Ads
The Securities and Exchange Commission of Pakistan (SECP) has issued a strong warning against unauthorized individuals and groups promoting illegal investment schemes through social media and WhatsApp. These entities are misusing the names of licensed brokers and circulating AI‑generated advertisements featuring celebrities, Financial influencers, and brokerage executives to lure investors.
The SECP has specifically flagged a mobile/web application titled “TSLWEA/TSL WEALTH”, which is impersonating the licensed broker Topline Securities Limited. A WhatsApp group named “A103‑Topline Stock Strategies Hub” has also been found falsely linking this app and an alleged AI‑based trading system to Topline Securities.
However, “TSLWEA/TSL WEALTH” is neither licensed nor authorized to operate any investment or trading platform for the Pakistan Stock Exchange (PSX) or any other regulated market.
The SECP noted that deceptive ads are circulating online, enticing the public to join WhatsApp groups under the pretense of investing in shares of listed companies. The regulator stressed that all such groups are illegal and pose a serious risk of financial loss.
For safe trading, the SECP advises investors to engage only with SECP‑licensed securities and futures brokers, with official lists available on the PSX and Pakistan Mercantile Exchange (PMEX) websites.
The Commission has reported the identified unauthorized platforms to Google, the Pakistan Telecommunication Authority (PTA), and law enforcement agencies.
The SECP strongly warns against depositing or investing any funds through the “TSLWEA/TSL WEALTH” app or with individuals and groups promoting unlicensed investment platforms.
In April, the SECP issued a warning about unauthorized online trading platforms, specifically flagging Quotex’s illegal operations.
BrokersView Reminds You
Investors should remain vigilant, verify the authenticity of any investment service before committing funds, and avoid unlicensed platforms.
Investment schemes promoted via group chats on messaging apps are usually fraudulent. Independently verify the authenticity of celebrity endorsements.
If you encounter investment fraud, report it to BrokersView for public exposure.
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