FXTM Indonesia – Are They Trustworthy?
Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.
FXTM Indonesia - DO NOT TRADE WITH THIS PROVIDER
2.3/10
$100
Minimum Depositupdated 2022
The details for opening trading accounts are not indicated on the broker’s website. In order to register with this broker, you only need to go to their sign-up page where you’ll be asked to enter your name, email address, phone number, and password. You’ll also be asked to accept their Terms and Conditions and confirm that you’re over 18 years of age. After this, the trading platform will be made available for you and you can start trading using their demo account.
Try these regulated brokers if you want to start trading cryptocurrencies
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
Website URL: https://forextime.com
Founded: 2022
Regulations: Regulated
Languages: English, Arabic, Chinese, Japanese, Czech, French, Hindi, Indonesian, Polish, Spanish, Italian, Urdu, Korean, Malay, Russian, Vietnamese, Bahasa
Deposit Methods: MasterCard, Visa, Maestro, Google Pay, Skrill, Neteller, WebMoney, Perfect Money, QIWI, VLOAD, TC Pay Wallet, Bank Transfer, FasaPay, Indonesian Local Transfers
Minimum Deposit: $10
Free Demo Account: Yes
Number of Assets: N/A
Types of Assets: Forex, Metals, CFDs, Indices, Shares, Stock Baskets (Index Funds), Commodities
Trading Accounts and Conditions
FXTM Indonesia offers its clients the following trading accounts:
- Micro: The minimum deposit you are asked to make to open this account is $10. The spreads start from 1.5 pips and there are no commissions charged. Traders can use the MetaTrader 4 platform, and the leverage ranges from 1:3 to 1:1000 (fixed) for forex, and 1:500 (Fixed) for Metals.
- Advantage: The minimum deposit you are asked to make to open this account is $500. Spreads start from 0 pips and commissions range from $0.40 to $2, depending on the volume of trade. You can choose between the MetaTrader 4 and MetaTrader 5 platforms, and you are offered a maximum floating leverage of 1:2000.
- Advantage Plus: The minimum deposit you make to open this account is $500. Spreads start from 1.5 pips and there are no commissions charged for trading on this account. You can choose between the MetaTrader 4 and MetaTrader 5 platforms and leverages are a floating maximum of 1:2000.
Traders are also offered an option of an Islamic Account if they so desire.
FXTM Indonesia – Advantages
Here are the many advantages of trading with FXTM Indonesia:
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Strongly Regulated
FXTM Indonesia is a branch of the renowned brokerage, FXTM, which was founded in Cyprus in 2011. While the parent company has multiple licenses – from the CySEC (Cyprus Securities and Exchange Commission), the FCA (UK’s Financial Conduct Authority), the FSCA (South Africa’s Financial Sector Conduct Authority), and the FSC (Mauritius’ Financial Services Commission), the Indonesian branch is operated by the Mauritius-regulated subdivision of the brokerage.
While many offshore regulators have very lax laws, the Mauritius FSC is not one of them. To get registered with this financial authority, an offshore broker needs to maintain at least $250,000 in capital in its accounts. There are also other conditions that this authority has put in place, making it a relatively strongly regulated government body.
The reason why FXTM has opened this branch is to offer its clients better terms that are not possible with the rigid regulations existing in Europe.
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
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Best Trading Platforms
FXTM Indonesia offers its clients the use of both the MetaTrader 4 and the MetaTrader 5 trading platforms. The MT4 platform, the older of the two, was launched in 2006, and has become one of the best trading platforms in the world. The MT5 platform, a recent launch, has only built on the offerings of its predecessor, allowing traders to do even more from a single platform than ever before.
Both these platforms give traders a chance to use some seriously advanced trading tools, automatic trading bots, trading apps and so on.
Besides these two top-of-the-line platforms, FXTM Indonesia also offers its clients its own trading app, called the FXTM Trader. This app is designed to be used on the go, and can be used from multiple devices. You get access to more than 250 trading instruments, multiple trading accounts and some pretty decent charting and market analysis tools.
The broker also offers its client the FXTM Invest app – a tool for copy trading.
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Excellent Trading Conditions
FXTM also offers its clients excellent trading conditions. The spreads are extremely competitive, ranging from 0 pips to 1.5 pips (depending on the account type you choose). Considering that the market average ranges from 0.5 pips to 1.5 pips, FXTM definitely offers you an advantageous spread.
The leverage ratios are huge, with maximum leverages going up to as much as 1:2000. This is a double-edged sword, because while higher leverages spell higher profits, they also mean extremely high risks.
The commissions being charged are also very reasonable and slightly lower than the industry standard, which means that it would be advantageous for traders to invest with this broker.
And if traders are specifically looking for Islamic trading accounts, they can get directly in touch with FXTM Indonesia to find out more about their options and what these accounts offer them.
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Wide Range of Payment Options
FXTM Indonesia offers its clients a wide range of payment options, which makes it very convenient for traders to invest easily and without any hassle.
While there are no charges for deposits, there are withdrawal fees – which are also relatively reasonable. Credit/debit card transfers are the cheapest at $3 per transaction, while bank transfers are more expensive at $30. There are no commissions for online wallets such as Skrill, Neteller, TC Pay Wallet and VLOAD. But there is a 0.5% fee of the amount withdrawn if you use FasaPay or Perfect Money. If you use QIWI and Yandex.Money, you will have to pay a 1.5% charge, and a 2% charge if you use WebMoney.
FXTM Indonesia – Disadvantages
There is just one small issue with trading with FXTM Indonesia, and that isn’t much of an issue either:
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Limited Trading Options on Micro Account
If you choose to open a Micro account, then you will only be able to trade using the MetaTrader 4 platform. This means that you will not be able to trade on indices, stocks and CFDs on stocks since none of these are available on the MT4 platform.
Conclusion
FXTM Indonesia is the perfect example of a well-run brokerage. It is strongly regulated, very transparent in its dealings and offers its clients very reasonable terms and conditions. This is definitely a broker that you can trust and invest in.
FXTM Indonesia
Pros
- Strongly Regulated Limited Trading Options on Micro Account
- Best Trading Platforms
- Excellent Trading Conditions
- Wide Range of Payment Options
Cons
- Strongly Regulated Limited Trading Options on Micro Account
Do not trade with unregulated brokers that will steal your funds - try these regulated brokers:
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The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
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