'Spot' Commodity/Index Companies

"A Quick Way to Lose Your Money..."

Have you been promised :

  • Easy profits for your investment by trading in 'spot' commodities/indeces/forex?
  • Job with investment companies offering lucrative income without any need for relevant experience?

Beware!

Do not invest or work with illegal 'spot' commodity/index/forex trading companies

 

Why?

They are actually operating illegal futures markets. Many have lost thousands of ringgit after investing with these companies.

 

How to spot a 'spot' trading company?

  • They claim to be agents for foreign trading houses (e.g. based in Macau, Indonesia, British Virgin Islands, Singapore and the Bahamas).
  • They may trade in indices (e.g. Hang Seng Index), commodities (e.g. coffee), or forex (e.g. US$:Yen)

What to do?

  • Obtain more information about 'spot' commodity/index/forex companies from the Securities Commission (SC) website www.sc.com.my.
  • If in doubt, verify the licensing status of the company with the SC prior to making any investment.
  • Report suspected 'spot' trading companies to the SC.

Write to:

Complaints Unit
Securities Commission
No 3 Persiaran Bukit Kiara
Bukit Kiara
50490 Kuala Lumpur

or

Email: aduan@seccom.com.my
Tel.: 03-6204 8000 / 8999
Fax: 03-6204 8991

 

Those involved in a spot company:

Operating or assisting in the operation of an illegal futures market is an offence under the Futures Industry Act 1993 which carries a maximum penalty of RM 1,000,000 fine or 10 years imprisonment or both.

 

Information from Security Commission

Terms and Conditions

 

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