Trading Robots Indicated to be Fraudulent Investments, Observers Remind People to Be Alert

- 04 March 2022 23:55 WIB
Trading Robots Illustration (PEXELS/weekendplayer)
Trading Robots Illustration (PEXELS/weekendplayer)


JAKARTADAILY.ID - The widespread amongst the public Trading Robot incident has recently indicated fraudulent investment similar to the Ponzi scheme. The Trading Robot's activity was banned by Indonesia's Commodity Futures Trading Regulatory Agency or Bappebti.

Alfons Wijaya, the cyber security observer of Vaksincom, reminds the public to be aware and search for more information on this matter.

One of the banned activities of Bappebti and predicted allegedly firmly adhere to the Ponzi scheme is the Trading Robot.

The system applied is to pledge certain fixed monthly profits to users.

"They usually recruit new users through promises of monthly shares like [what they use] in the Multi-Level Marketing method," said Alfons through his statement on Friday, March 4, 2022.

He then explained that trading robots are software that automates forex trading, with many of them operating legally.

The issue is located in their monthly fixed profit rate guarantee.

"Not even a professional and experienced trader would dare to do that, so this is strongly alleged of using a Ponzi scheme to attract members," Alfons added.

Based on Alfons Wijaya's explanation, a few trading robots indicate fraudulent potency.

Firstly, trading should only be done through selected brokers by the organizer or certified by trusted institutions and not a bonafide broker.

The purpose of broker utilization is to ease the manipulating process of trading charts in fictional trading. Thus, it fits the promised value of shares given.

These fictitious trades always work for victims from a group of less conscientious or completely clueless users and feel safe trusting the organizers completely.

Secondly, the indication is a very far spread rate of forex trading.


Editor: M. A. Wahad


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