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Indonesian newbie need a good broker

  • #1
  • First Post: Apr 20, 2008 11:53am Apr 20, 2008 11:53am
Hello guys, any advice which broker is good for me? I'm in Indonesia & currently i'm using Northfinance. I don't feel secure with them & i'm looking for a good broker. Btw, I don't trade heavily since i'm a newbie, so i'm going to put about $2500 - $5000 max.
Don't worry, life's too short
  • #2
  • Apr 20, 2008 12:55pm Apr 20, 2008 12:55pm
Definitely don't be placing your trust in North Finance for long term or large deposits. Offshore is not the way to go.

I'm not aware of any Indonesian brokers to be honest.
  • #3
  • Apr 20, 2008 11:47pm Apr 20, 2008 11:47pm
Quote
Definitely don't be placing your trust in North Finance for long term or large deposits. Offshore is not the way to go.

I'm not aware of any Indonesian brokers to be honest.

Indonesia don't allow mini accounts. www.mifx.com for example. So i look it outside of Indonesia, but the problem is I don't know which one is good. Northfinance got IB on Indonesia so I can inject & withdraw fast enough (about 3-5 hours & only on weekdays)
Don't worry, life's too short
  • #4
  • Apr 21, 2008 8:24pm Apr 21, 2008 8:24pm
hi,

you can use any broker like nf, fxpro, fxdd, ikon, etc for that amount of deposit.
  • #5
  • Apr 22, 2008 8:37am Apr 22, 2008 8:37am
Look for an NFA regulated broker who has excellent capitalization(i.e. exceeds the net cap required by regulations). Don't trust the offshore or unregulated brokers - they make big promises, and most often fail to live up to them.
  • #6
  • Apr 22, 2008 8:48am Apr 22, 2008 8:48am
White Tiger: I don't feel safe with NF and/or FXPro (this is the same company i think.)
SBRfx: do you have any recommendation?
Don't worry, life's too short
  • #7
  • Apr 22, 2008 8:58am Apr 22, 2008 8:58am
  •  onu
  • | Joined Feb 2006 | Status: superior senior member | 746 Posts
To be on the safer side: Take a closer look at brokers from UK (i.e. alpari, activtrades).
American authorities like NFA failed badly on supervising their brokers .. i.e FXLQ
High net cap of broker doesn't prevent you from fraud when the authorities don't do their job.
  • #8
  • Apr 23, 2008 3:14am Apr 23, 2008 3:14am
fxpro is regulated and if you dont trust regulated broker, then who do you trust ?
  • #9
  • Apr 23, 2008 12:42pm Apr 23, 2008 12:42pm
  •  onu
  • | Joined Feb 2006 | Status: superior senior member | 746 Posts
I do trust regulated brokers too, but not anymore American brokers. NFA was established by big brokers...... Self regulation didn't work properly so far in USA. Look what happens now: Net cap rise isnt the solution alone, most important is to offer segregated customer account, so broker cant longer access customer acc. and use customers money to trade against them....
  • #10
  • Edited 2:34pm Apr 23, 2008 2:08pm | Edited 2:34pm
Valbury futures is good. It claims as no 1 legal futures broker in Indonesia with the biggest volume.
But it has no mini account.
minimum deposit $10000. But, if you talk to the broker, it allows minimum deposit $3000. Spread 6 for all pairs. leverage 1:100.
But if i'm not wrong, if you trade online, spread is 3. Try checking it's site.

It's regulated by Bappepam. The main company is in singapore.
  • #11
  • May 2, 2008 7:41am May 2, 2008 7:41am
hi Toleot!

There's this broker by the name of Millenium Penata Futures and they're based in Indonesia. They say they are a member of the Jakarta Futures Exchange. Would you by any chance know if the are truly legit? Thanks!

peps
  • #12
  • Jun 18, 2008 1:31pm Jun 18, 2008 1:31pm
yup, indonesian broker only accept regular acc. and min. deposit 30jt rupiah or $5000 ( fix rate 6000 )

as far i know MIFX is good you should check at indonesian clearing house website http://www.kjbk.co.id/derivatif/ina/...g_teraktif.php

and the paltform is Metatrader...

hope it help..
" Good things come to those who wait " ( bon jovi 'santa Fe' )
  • #13
  • Mar 14, 2011 12:31pm Mar 14, 2011 12:31pm
Hi, only securities companies can be regulated by bappepam, futures companies are always regulated by BAPPEBTI. I also dont think valbury is based out of Singapore, its 100% indonesian i think ..can someone else verify this to be the truth though..

Quoting ronfis
Valbury futures is good. It claims as no 1 legal futures broker in Indonesia with the biggest volume.
But it has no mini account.
minimum deposit $10000. But, if you talk to the broker, it allows minimum deposit $3000. Spread 6 for all pairs. leverage 1:100.
But if i'm not wrong, if you trade online, spread is 3. Try checking it's site.

It's regulated by Bappepam. The main company is in singapore.
  • #14
  • Mar 15, 2011 8:47am Mar 15, 2011 8:47am
Quoting Toleot
Hello guys, any advice which broker is good for me? I'm in Indonesia & currently i'm using Northfinance. I don't feel secure with them & i'm looking for a good broker. Btw, I don't trade heavily since i'm a newbie, so i'm going to put about $2500 - $5000 max.
Gomarkets, vantage, ibfx australia, fxopen ECN, dukascopy.
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  • #15
  • Mar 19, 2011 10:34pm Mar 19, 2011 10:34pm
Hi guys. If I am not Indonesian can I open an account in Indonesian broker?
Thanks.
  • #16
  • Mar 20, 2011 6:18am Mar 20, 2011 6:18am
Quoting informal
Hi guys. If I am not Indonesian can I open an account in Indonesian broker?
Thanks.
Surely u can, a only a licensed futures broker can accept monies in Indonesia, if u hear of a broker allowing transfers from abroad, then u better be a little wary..
  • #17
  • Apr 7, 2011 3:10am Apr 7, 2011 3:10am
hi i been trading for 5 years..first i open account at harum dana berjangka and then i open at valbury asia futures...i think valbury have a good reputation and no problem to widrawal...ussually i widrawal before 12 .00 and 15.00 the money come up to my bca account..the spread is 3 pips and have 35 dollar for settle contract...it is a lot i think if i compare to my accunt at alpari indonesia that no commision at all.
  • #18
  • Apr 8, 2011 2:19am Apr 8, 2011 2:19am
Quoting andre_fp04
hi i been trading for 5 years..first i open account at harum dana berjangka and then i open at valbury asia futures...i think valbury have a good reputation and no problem to widrawal...ussually i widrawal before 12 .00 and 15.00 the money come up to my bca account..the spread is 3 pips and have 35 dollar for settle contract...it is a lot i think if i compare to my accunt at alpari indonesia that no commision at all.
Indeed the case, indonesian brokers do charge more commission to compensate for the ease of receiving monies here, i traded in monex last year, during the gold rush, their commission is supposedly the lowest among local brokers.
  • #19
  • Jun 5, 2016 9:29am Jun 5, 2016 9:29am
i prefer exness, because it has a small spread and fast withdraw

For indonesia:
untuk agan yang newbie, bisa belajar di situs http://valasku.com
isinya tentang tutorial forex, yang jelas tutorial nya pake bahasa indonesia.
semoga membantu.
  • #20
  • Edited 1:36pm Jun 5, 2016 12:15pm | Edited 1:36pm
Do not trust the Indonesian Brokers.
Do not trust the Indonesian Regulator Bappebti. https://www.bappebti.go.id/
Do not trust the OJK. http://www.ojk.go.id/id/Default.aspx
Do not trust most of Indonesian Forex Forums and Websites.

http://www.financemagnates.com/forex...rmation-sites/

Yes, I hate to say this, but eleven years is enough experience to say that My country Brokers and Regulators is a group of low to average intellectual functioning capacity cheaters.

Thanks to God U can speak and write in English fluently, So U can start this small research.

So starting with this is Okay. Go to http://www.myfxbook.com/forex-broker-spreads and here http://www.myfxbook.com/reviews/brokers/9,1 and pick one U need.

Note:
Do not forget to read. Sorry edit wrong link before.
1. http://www.forexfactory.com/showthread.php?t=578439
2. http://www.forexfactory.com/showthread.php?t=591931
3. http://www.forexfactory.com/showthread.php?t=332202
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