OJK Instructs Binary Option Trade 'Influencers' to Stop Promoting

TEMPO.CO, Jakarta - Head of the Financial Services Authority (OJK) investment alert task force (SWI), Tongam L. Tobing, confirmed that his office has summoned a number of affiliates and social media “influencers” allegedly facilitating binary option products and illegal brokers that are unregistered by the Trade Ministry’s Futures Exchange Supervisory Board (Bappebti). 

The individuals have made their mark on social platforms by presenting themselves as young wealthy figures such as Indra Kesuma (Indra Kenz), Doni Muhammad Taufik, Vincent Raditya, Erwin Laisuman, and Kenneth William. They were also summoned for actively holding unlicensed trade training sessions. 

The illegal binary option trading platforms which are unlisted under Bappebti include Binomo, Olymp Trade, Quotex, and Octa FX. 

The SWI had already gathered a meeting with the aforementioned social media figures and asked them to stop promoting binary option trades and training lessons. Citing Bisnis.com, they are also told to erase any promotional content and training videos related to binary trades. 

The meeting that was held virtually was attended by a task force member from National Police’s criminal investigation unit (Bareskrim), Trade Ministry, and Communication and Informatics Ministry representatives. 

Tobing insisted that online trades under the binary option model are illegal as the government acknowledges it as gambling and that there are zero items that are traded. To date, OJK has stopped the activities of 21 trading entities that may cause financial harm to members of the public. 

Read: Binary Option Trading Deemed Ponzi, Govt to Shut Down Platforms

BISNIS.COM