Pakistan does not license retail forex brokers, so no broker holds a local licence here. That is how this market is built, not a sign of fraud.
Entity
SMSG LIMITED
No local licensing here
Which company you actually sign with in Pakistan, and whose licence that is.
the company you looked up
Cyprus Securities and Exchange Commission · 403/21
Check it yourself:https://www.cysec.gov.cy/en-GB/entities/investment-firms/cypriot/90741/
Pakistan does not license retail forex brokers, so no broker holds a local licence here. That is how this market is built, not a sign of fraud.
STATOK LTD (ex SMSG LIMITED)
licensed by Cyprus Securities and Exchange Commission · 403/21
248 rows · good 2026-09-29 · tried 2026-09-29
327 rows · good 2026-09-29 · tried 2026-09-29