Samtrade FX Suspended By Singapore Authority, Indonesian Investors Fate Hopes Are Anxious

Illustration. (Photo: Unsplash)

JAKARTA - Samtrade FX is now a byword among investors. The reason is that the brokerage company was suspended by the Monetary Authority of Singapore (MAS).

The decision was taken by MAS because Samtrade FX allegedly does not have an official license and has not been verified. With the suspension, investors are now wary of not being able to make deposits, to withdraw money.

It is known that Samtrade FX is a fairly large broker in Singapore, in fact this company is affiliated with the Samtrade Academy which provides training for those who want to learn things about online trading.

Samtrade Academy is known to have collaborated with Persija during Liga I in 2021 so that the company's logo is emblazoned on the players' jerseys.

There are a lot of Samtrade FX investors from Indonesia. Because Samtrade FX is also used in several applications such as Fin888 Samtrade.

Then what happened to them? In response to this, Gadjah Mada University Law Expert Muhammad Fatahillah Akbar spoke up.

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He said, before investing, investors should first study the related permits and laws.

"So don't just go along with it. Then, regarding the implications for Indonesian investors who invest there, they have to wait for the bright spot to solve the problem in Singapore. However, we will continue to communicate with application companies to continue to carry out their obligations to protect these funds from possible misappropriation," Akbar said, quoted on Sunday, January 16.

Later, Akbar continued, if it turns out that an administrative violation has occurred, the customer's funds may be returned. But according to him, if there is a criminal element, don't expect the money to be returned.

"The legal consequences must be waiting for the problem to be resolved in the country of origin. If it is considered an administrative violation, the investor or customer's funds may be returned. However, if there are criminal indications, the funds will not be returned. It is better to be more careful before investing and don't be tempted by sweet promises. ," he said.