According to a new SBP regulatory directive, sending money abroad to engage in foreign exchange trading, leverage trading, or contract for difference (CFD) trading using apps, websites, or platforms such as OctaFX is both dangerous and illegal.
SBP Terms Foreign Exchange Trading on Platforms like OctaFX as illegal
Additionally, they are selling their goods to Pakistani citizens and enticing them to buy their goods and services using social media marketing. Such purchasing by residents of Pakistan is a violation of section 4(1) of the FERA. Further, it has also been noted that Authorized Dealers (ADs) are facilitating payments through their payment gateways to such offshore trading platforms. So in this regard, SBP mentioned two sections for authorized dealers:
