A novel secure spatial modulation (SM) scheme based on dynamic multi-parameter weighted-type fractional Fourier transform (WFRFT), abbreviated as SMW, is proposed. Each legitimate transmitter runs WFRFT on the spatially modulated super symbols before transmit antennas, the parameters of which are dynamically updated using the transmitting bits. Each legitimate receiver runs inverse WFRFT to demodulate the received signals, the parameters of which are also dynamically generated using the recovered bits with the same updating strategies as the transmitter. The dynamic update strategies of WFRFT parameters are designed. As a passive eavesdropper is ignorant of the initial WFRFT parameters and the dynamic update strategies, which are indicated by the transmitted bits, it cannot recover the original information, thereby guaranteeing the communication security between legitimate transmitter and receiver. Besides, we formulate the maximum likelihood (ML) detector and analyze the secrecy capacity and the upper bound of BER. Simulations demonstrate that the proposed SMW scheme can achieve a high level of secrecy capacity and maintain legitimate receiver's low BER performance while deteriorating the eavesdropper's BER.