Badan Pengawas Perdagangan Berjangka Komoditi Kementerian Perdagangan

Ministry of Trade Blocks 1,222 Illegal Commodity Futures Trading Websites Jakarta, 2 February 2022 - The Ministry of Trade continues to take a firm stance. After conducting surveillance and receiving reports from the public, during 2021, the Ministry of Trade blocked 1,222 websites for illegal commodity futures trading and gambling under the guise of trading. This effort is made to strengthen public protection from the dangers of harmful illegal investments. "The Commodity Futures Trading Supervisory Agency (Bappebti) of the Ministry of Trade is committed to overseeing commodity futures trading activities, including those using binary options. Throughout 2021, CoFTRA in collaboration with the Ministry of Communication and Informatics has blocked 1,222 domains of unlicensed commodity futures trading websites and gambling under the guise of trading," said Plt. Head of CoFTRA Indrasari Wisnu Wardhana in Jakarta today, Wednesday (2/2). Of the thousands of websites, there are 92 blocked binary options domains such as Binomo, IQ Option, Olymptrade, Quotex and other similar platforms. CoFTRA also blocked 336 trading robots such as Net89/SmartX, Auto Trade Gold, Viral Blast, Raibot Look, DNA Pro, EA 50, Sparta, Fin888, Fsp Akademi Pro and other similar companies. According to Wisnu, binary options are online gambling activities under the guise of trading in the field of commodity futures trading (PBK). Currently circulating binary option applications do not have legality in Indonesia. If there is a dispute between the customer and the provider, CoFTRA as the regulator in the field of futures trading cannot facilitate the customer in the context of mediation. Wisnu illustrates that someone who uses binary options only guesses that the price of a financial instrument, such as forex, crypto, or a stock index, will experience an increase or decrease within a certain time. If his guess is correct, he will get a profit that is not up to 100 percent of his capital. If the guess is wrong, you will suffer a loss of 100 percent. "For this reason, the government urges the public not to be easily tempted by advertisements, promotions and offers on binary options applications or websites," he said. Apart from that, said Wisnu, there are also frequent forex investment offers under the pretext of selling trading robots. The community is promised consistent profits and profit sharing with trading robot sellers. For members who can recruit new members to join, they are also promised a bonus, in the form of a sponsorship bonus. "These entities raise public funds through investment packages by cooperating with foreign futures brokers who certainly do not have a business license as futures brokers from CoFTRA," explained Wisnu. In this activity, the perpetrators allegedly violated the provisions of Law Number 10 of 2011 concerning Amendments to Law Number 32 of 1997 concerning Commodity Futures Trading and were suspected of misusing the legality of the Direct Sales Business License (SIUPL) issued by the Ministry of Trade. SIUPL is a business license to carry out direct sales business activities, namely a system of selling certain goods through a marketing network developed by direct sellers who work on a commission and/or bonus basis based on sales proceeds to consumers outside retail locations. Goods which include futures commodity products in accordance with statutory provisions and/or services are prohibited from being marketed through a direct selling system. In general, during 2021, apart from binary options and offering forex investment packages under the guise of selling trading robots, blocked websites are duplicates of futures broker websites that have licenses from Bappebti and introducing broker websites (intermediaries) of foreign futures brokers, such as OctaFX , FBS, and the like. Wisnu stated that CoFTRA continues to try to inform and remind the public about investing. “The public is expected to always check the legality of companies that offer investments, know the advantages and disadvantages, not easily believe in the lure of fixed income, passive income and high profits. Also keep in mind, PBK is an investment that is high risk high return. Don't let investors want to make a profit, instead they are stumped," said Wisnu. On the same occasion, Head of the Bureau of Legislation and Enforcement for CoFTRA Aldison said that CoFTRA routinely conducts supervision and observation of websites in the CBA sector that do not have a permit from CoFTRA. “Supervision is carried out to prevent losses to the community. Considering that currently new modes have emerged to attract the public to be tempted to become investors in the CPF sector without paying attention to knowledge of trading mechanisms in that field," said Aldison. CoFTRA also urges the public to be more observant in choosing investments in the PBK sector to always ensure the legality of futures brokers who offer investments and not be easily tempted by the lure of definite profits beyond reasonable limits in a short time. “The community is also expected to always be aware of offers with the lure of getting bonuses or commissions if they succeed in recruiting new members as downlines. The concept of the net below is not well known in futures trading," Aldison concluded. Complete information regarding the legality of business actors in the PBK sector, can be seen through the official CoFTRA website https://www.bappebti.go.id. --end-- For further information, contact: Ani Mulyati Head of Public Relations Bureau, Ministry of Trade Email: centrehumas@kemendag.go.id Aldison Head of Bureau of Legislation and Enforcement, Commodity Futures Trading Supervisory Agency, Ministry of Trade Email: humas.bappebti@kemendag. go.id