Midtou
Pros and Cons
Pros
- Regulated by BAPPEBTI and ICDX
- Offers a variety of trading instruments including forex, commodities, and stock indexes
- Supports MetaTrader 4 trading platform
- Provides demo accounts for practice trading
- Multiple customer support channels available
Cons
- Not regulated in major jurisdictions like the US
- Limited trading instruments (no cryptocurrencies, bonds, or ETFs)
- High spreads on major currency pairs
- Poor customer support based on user reviews
- Outdated trading platform with no MT5 support
Basic Information
User Reviews
Midtou Overview
Midtou Aryacom Futures, founded in 2005, is a regulated forex broker based in Indonesia. The company operates under licenses granted by the Commodity Futures Trading Supervisory Agency (BAPPEBTI) and is a member of the Indonesia Commodity and Derivatives Exchange (ICDX), ensuring compliance with local regulations and offering traders a secure trading environment. With a focus on the Indonesian market, Midtou provides a reliable platform for forex trading and other derivatives, catering to both novice and experienced traders alike.
Is Midtou Safe? Regulation Analysis
Regulatory Information
| Regulatory Authority | Country/Region | Fund Protection Measures |
|---|---|---|
| BAPPEBTI | Indonesia | Segregated Funds, Investor Compensation Scheme |
| ICDX | Indonesia | Segregated Funds, Investor Compensation Scheme |
Is Midtou Regulated and How Are Client Funds Protected?
Midtou Aryacom Futures is a regulated broker operating under the supervision of two recognized authorities: the Badan Pengawas Perdagangan Berjangka Komoditi (BAPPEBTI) and the Indonesia Commodity and Derivatives Exchange (ICDX). Both regulatory bodies ensure that Midtou adheres to strict compliance standards, providing a level of trust and legitimacy to its operations. Client funds are protected through the implementation of segregated accounts, which separate clients’ funds from the broker’s operating capital. Additionally, the presence of an investor compensation scheme further enhances the safety of client deposits, offering a layer of protection in the event of insolvency. Overall, Midtou is considered a safe and legitimate option for traders seeking to engage in forex and commodity trading in Indonesia.
Trading Products and Services
What trading instruments does Midtou offer?
| Asset Category | Available Products | Total Count (if available) |
|---|---|---|
| Forex | EUR/USD, GBP/JPY, AUD/NZD | 50+ |
| Commodities | Gold, Silver, Crude Oil | Varies |
| Indices | S&P 500, NASDAQ, FTSE 100 | Many |
| Stocks | Apple, Tesla, BP | Many |
| Cryptocurrencies | N/A | N/A |
Midtou offers a diverse range of trading instruments, catering to various types of traders, from beginners to seasoned professionals. With a robust selection of over 50 forex pairs, traders can engage in the dynamic world of forex markets. Additionally, commodities such as gold and oil provide opportunities for those looking to diversify their portfolios further. The inclusion of indices and stocks allows traders to adopt various strategies, whether short-term or long-term. This diversity in asset categories enables traders to optimize their trading strategies, adjust their risk profiles, and effectively manage their investments. Midtou’s offerings are designed to meet the needs of a broad audience, making it a valuable platform for anyone looking to navigate the financial markets confidently.
Account Types and Trading Conditions
What Account Types and Fees Does Midtou Offer?
| Account Type | Target User Group | Essential Characteristics | Applicability Notes |
|---|---|---|---|
| Retail Account | Beginners and casual traders | Low minimum deposit, access to educational resources | Suitable for small-capital trading |
| Professional Account | Experienced traders | Higher leverage, advanced trading tools | Requires trading volume qualifications |
| Corporate Account | Corporate clients | Custom trading solutions, dedicated support | Requires corporate documentation |
| Islamic Account | Traders requiring Sharia-compliant trading | Swap-free options available | Must meet eligibility requirements |
| Demo Account | New traders and those wanting to test strategies | Risk-free environment, access to all trading features | No capital required; great for practice |
Account Opening Process
To open an account with Midtou, follow these steps: first, submit your personal information, including your name and contact details. Next, provide your employment information, such as your occupation and employer details. Additionally, you will need to submit financial information to assess your trading capabilities. Identity verification is required, which includes submitting a valid ID and proof of address. Midtou allows flexibility in account management, enabling you to upgrade to a professional account later if you meet the necessary criteria.
Trading Fees
| Product | Spread (pips) | Commission | Notes |
|---|---|---|---|
| Forex (EUR/USD) | 0.8 | $0 (ECN: $3.5/lot) | Tight spreads for major pairs |
| Forex (GBP/USD) | 1.0 | $0 (ECN: $3.5/lot) | Competitive for traders |
| CFDs (Stocks) | 1.5 | $5 per lot | Varies by stock |
| CFDs (Indices) | 2.0 | $4 per lot | Standard for major indices |
| Cryptos (BTC/USD) | 1.0% | 0.1% | Fees can vary with market conditions |
Other Fees
Midtou may charge various fees beyond trading costs, including deposit and withdrawal fees, which could vary depending on the payment method used. Inactivity fees may apply if an account remains dormant for an extended period. While there are no explicit platform usage fees, traders should be aware of overnight interest (swap rates) applied to positions held overnight. Additionally, currency conversion fees may be applicable for transactions involving different currencies.
Trading Platforms and Apps
What Trading Platforms and Apps Does Midtou Offer for Traders?
| Platform | Device Support | Key Features | Additional Services |
|---|---|---|---|
| MT4 | Windows, macOS, iOS, Android | 2FA, encryption, multiple order types, technical indicators | Demo accounts, VPS |
| Web Version | Any device with a browser | Secure login, market search, price alerts | None |
| Mobile App | iOS, Android | Biometrics, one-click trading, push notifications | None |
Midtou offers a variety of trading platforms including the widely used MT4, which is suitable for both beginners and experienced traders. The web version allows for trading on any device with an internet browser, while the mobile app provides convenience for traders on the go. All platforms emphasize secure login options and efficient order execution, along with real-time alerts and effective market search tools.
Each platform caters to different trading needs, ensuring that users can access their accounts securely and trade efficiently across multiple devices. With features like demo accounts and virtual private servers available for MT4 users, Midtou enhances the trading experience for all levels of traders.
Deposit and Withdrawal
Deposit and Withdrawal Options
| Payment Method | Processing Time | Fees | Limits | Base Currency Options |
|---|---|---|---|---|
| SEPA Transfer | 1-2 business days | No platform fee | Min 100, Max 50k/day | EUR |
| GrabPay | Instant | No fee | Min 50, Max 10k/day | SGD, MYR |
| SPEI | Instant | No platform fee, 2% for transfers over $5k | Min 100, Max 20k/day | MXN |
| Credit/Debit Card | Instant | No platform fee, 1.5% processing fee | Min 50, Max 15k/day | USD, EUR |
| Bank Wire | 3-5 business days | No platform fee | Min 200, Max 100k/day | USD, EUR, GBP |
Minimum Deposit
Midtou requires a minimum deposit of $50 to open a trading account. This amount may vary by payment method, with specific options like SEPA having a higher minimum of $100, while e-wallets like GrabPay allow deposits starting from $50. Additionally, different account types may have distinct minimum deposit requirements.
How to Withdraw
To withdraw funds from your Midtou account, follow these steps:
- Log in to your Midtou account.
- Navigate to the ‘Withdrawal’ section in the account dashboard.
- Select your preferred withdrawal method from the available options.
- Enter the amount you wish to withdraw, ensuring it meets the minimum and maximum limits.
- Submit your withdrawal request.
- Check your email for confirmation and processing updates.
Customer Support
Midtou Customer Support Overview
Support Channels
Midtou offers multiple contact methods to ensure that customers receive the help they need efficiently. Customers can reach out via:
- Email: Customers can send inquiries to support@midtou.com, where a dedicated team responds promptly to provide assistance.
- Live Chat: For immediate support, the live chat feature on the Midtou website connects customers with support representatives in real-time.
- Telephone: Customers can call Midtou at +62 21 299-32111 for direct support.
- Social Media: Midtou is active on various social media platforms, providing another avenue for customers to reach out for assistance.
Service Availability
Midtou’s customer service is available 24/5, ensuring support during trading hours throughout the week. The team is equipped to assist clients in multiple languages, including English and Indonesian, to cater to a diverse customer base.
Additional Resources
In addition to direct support, Midtou provides various educational resources to enhance customer experience. These include:
- Video Tutorials: A range of video tutorials to help customers understand trading platforms and strategies.
- Webinars: Regular webinars covering market analysis and trading techniques to empower users.
- Market Analysis: Insights and reports on market trends to assist traders in making informed decisions.
- Trading Signals: Midtou offers trading signals to help customers identify potential trade opportunities.
Overall, Midtou prioritizes customer support and provides a comprehensive suite of services to ensure that traders can receive the help they need and enhance their trading experience.
Frequently Asked Questions
Yes, Midtou is regulated by the Badan Pengawas Perdagangan Berjangka Komoditi (BAPPEBTI) and is a member of the Indonesia Commodity and Derivatives Exchange (ICDX). They hold two Retail Forex licenses from these authorities, ensuring compliance with local regulations.
Midtou provides trading on various financial instruments including forex, commodities, and stock indexes. The platform supports MetaTrader 4 (MT4) and offers a demo account for practice. Leverage options are available, but specific details such as spreads and minimum deposits should be confirmed on their official website or by contacting customer support.
Midtou prioritizes the security of client funds by maintaining them in segregated accounts, separate from the company’s operational funds. This ensures that your money is protected in the event of any financial issues faced by the brokerage. Additionally, being regulated by BAPPEBTI adds another layer of security and oversight.
Midtou offers various customer support options including phone support at +62 21 29932111 and email support at support@midtou.com. They also provide resources on their website to help users navigate the platform. For more immediate assistance, clients can use their contact form available on the website.
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Risk Disclosure
Trading forex/CFDs via brokers carries high risks, including potential total loss. For any data changes, please refer to the latest information on the brokers' official websites. Trade with caution and seek independent advice.