The Hong Kong Securities and Futures Commission (SFC) has issued a warning regarding an unlicensed trading platform named "BiyaPay." The platform, which purports to offer trading services for Hong Kong and US stocks, is not licensed by the SFC and has not applied for any such license. Operating securities trading without a license in Hong Kong is illegal. The SFC discovered "BiyaPay" through its social media monitoring and noted that the platform's information and registration are accessible via its official website and social media. The SFC has added "BiyaPay" to its warning list, cautioning investors that the platform is not regulated, offering limited protection and potential for total loss. Investors are urged to exercise caution before engaging with the platform.