Ministry of Trade blocks 23 commodity illegal futures trading websites
JAKARTA. The Commodity Futures Trading Supervisory Agency (Bappebti) of the Ministry of Trade has blocked as many as 23 illegal commodity futures trading sites in the first two months of 2020.
Tjahya Widayanti, Head of the Supervisory Agency of Bappebti, said that most of the websites duplicate the websites which have an official permit.
"Usually they offer fixed income and / or profit-sharing through investment packages or become introducing brokers from abroad to the public," Widayanti explained through an official statement.
M. Syst, Head of Bappebti's Legislation and Enforcement Bureau, acknowledged that the trading activities of commodity futures such as foreign exchange do indeed have the potential to generate large profits. Conversely, said Syst the risk of loss in buying and selling foreign currencies is also quite large.
"The government does not bear customer losses due to transactions in the field of futures trading," said Syst on the same occasion. (KR/AR)