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Is PT United Asia Futures a scam?
Samit Nicolaidou
Spain
2023-09-20
ANSWER Yes, PT United Asia Futures is a scam.On the website of PT United Asia Futures, it claims to be a member of Jakarta Futures Exchange, Indonesian Derivatives Clearing House and also Indonesia Commodity Derivatives Exchange. However, it is important to note that these three exchanges do not function as regulatory bodies and thus, do not have the jurisdiction to guarantee the legitimacy and credibility of a forex broker.PT United Asia Futures is allegedly domiciled in Indonesia, which has no governing bodies responsible for forex trading activities. As such, the offerings of financial services and products by the platform remain unsupervised.Therefore, PT United Asia Futures is an unregulated broker that poses substantial risks of financial losses and identity theft. Without regulatory oversight, it is highly risky to entrust the platform with funds and personal information. No rules in place to safeguard interests of investors dealing with it. As such, to avoid such risks, it is advisable to choose a fully regulated broker.
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