Jakarta, CNN Indonesia —
Commodity Futures Trading Supervisory Agency (CoFTRA) is said to be in the middle of making a study of the rules of the game or regulations trading forex use robot.
An anonymous source with knowledge of this stated that the study was 50 percent complete and several stakeholder meetings had been held. He said CoFTRA expects regulations to be completed by the end of this year.
“We are conducting a policy review on this robot (robot trading forex). Will the robots, trading robots be regulated, what machines, goods, or developers will have to adjust,” he said. CNNIndonesia.com, Tuesday (7/9).
An anonymous source added that there are no results of the study that can be submitted to the public at this time because it is still in the process of being formulated.
“We are trying to finish it this year. Now it’s been half way, I hope this year,” he explained.
Until now CoFTRA has not regulated forex trading using robots. In July 2021, CoFTRA stated that there were many illegal website domains offering forex investments using trading robots.
During July, CoFTRA has blocked 82 domains of these illegal entities. Collectively, CoFTRA has blocked 704 website domains so far this year.
Head of CoFTRA, Indrasari Wisnu Wardhana, revealed that the entity had misused the Direct Selling Business License (SIUPL) issued by the Ministry of Trade.
They promise the community a consistent profit and profit sharing with the seller of the trading robot.
“Currently, there are many forex investment offers under the pretext of selling trading robots. These entities raise public funds through investment packages by cooperating with foreign futures brokers who of course do not have a business license as futures brokers from CoFTRA,” he said in a release, Thursday (19/8).
(wel/one)
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