FOREXimf
Pros and Cons
Pros
- Regulated by BAPPEBTI and ICDX
- Diverse range of trading instruments, including 18 forex pairs
- Trading platforms: MetaTrader 4 and Quick Pro app
- Comprehensive educational resources available for traders
- 24/5 customer support in multiple languages
Cons
- Limited product range, lacking options such as cryptocurrencies and stocks
- Higher trading costs with wider spreads compared to some competitors
- Deposit and withdrawal options restricted to bank transfers
- No tier-1 regulatory oversight
- Customer support not available 24/7
Basic Information
User Reviews
FOREXimf Overview
FOREXimf is a reputable forex and CFD brokerage firm established in 2005, headquartered in Indonesia. Operating under the full regulation of BAPPEBTI (the Commodity Futures Trading Supervisory Agency of Indonesia), FOREXimf has built a strong foundation in the Indonesian financial market, offering traders a secure and compliant environment for their trading activities. With nearly two decades of experience, the broker has earned recognition for its commitment to providing reliable trading services tailored to both novice and experienced traders.
The broker offers a diverse array of trading instruments, with a primary focus on forex, enabling traders to access over 17 currency pairs. FOREXimf supports trading through popular platforms, including MetaTrader 4 and its proprietary Quick Pro app, enhancing the user experience with advanced tools and features. Customer support is available 24/5 across multiple channels, ensuring traders receive timely assistance. With a focus on educational resources and a commitment to transparency, FOREXimf stands out as a reliable option for anyone looking to engage in forex trading within a regulated framework.
Is FOREXimf Safe? Regulation Analysis
Regulatory Information
| Regulatory Authority | Country/Region | Fund Protection Measures |
|---|---|---|
| BAPPEBTI | Indonesia | Segregated Funds |
| ICDX | Indonesia | Segregated Funds |
Is FOREXimf Regulated and How Are Client Funds Protected?
FOREXimf is a fully regulated brokerage firm operating under the supervision of BAPPEBTI and ICDX in Indonesia. This regulatory status ensures that FOREXimf adheres to strict guidelines designed to protect traders and maintain a fair trading environment. Client funds are safeguarded through measures such as segregated accounts, which ensure that clients’ money is kept separate from the broker’s operational funds. This practice enhances fund safety and provides a layer of protection for investors, ensuring that their capital is secure even in the event of financial difficulties faced by the broker. Overall, FOREXimf’s compliance with regulatory standards reflects its commitment to providing a safe and reliable trading experience for its clients.
Trading Products and Services
What Trading Instruments Does FOREXimf Offer?
| Asset Category | Available Products | Total Count (if available) |
|---|---|---|
| Forex | EUR/USD, GBP/USD, USD/JPY, AUD/USD | 18 |
| Commodities | Gold, Silver, Crude Oil | 2 |
| Indices | S&P 500, NASDAQ | |
| Stocks | US Stocks, UK Stocks | |
| Cryptocurrencies | BTC, ETH |
FOREXimf provides a diverse range of trading instruments that cater to both beginner and experienced traders. With a strong emphasis on forex, the broker offers 18 currency pairs, allowing traders to engage in various trading strategies. Additionally, the inclusion of commodities like gold and silver, alongside access to indices and cryptocurrencies, promotes portfolio diversification. This extensive selection of assets supports flexible trading approaches, meeting the needs of technical traders and long-term investors alike. By offering multiple asset categories, FOREXimf enables traders to adapt their strategies and explore the markets effectively.
Account Types and Trading Conditions
What Account Types and Fees Does FOREXimf Offer?
| Account Type | Target User Group | Key Characteristics | Applicability Notes |
|---|---|---|---|
| Gold Account | Experienced traders, gold-focused traders | Low spreads, high leverage (up to 1:500), no swap fees | Minimum deposit of RP 5,000,000 |
| Classic Account | Beginners, low-capital traders | Accessible minimum deposit, competitive spreads | Minimum deposit of RP 250,000 |
Account Opening Process
To open an account with FOREXimf, users must follow a straightforward process that includes several steps: First, traders will need to submit personal information, including their name, email, and phone number. Next, employment and financial details are required for verification. Participants must provide identity verification documents, such as a government-issued ID and proof of address. Once registered, users can start with a demo account, and there is flexibility to upgrade to a professional account later if desired.
Trading Fees
| Product | Spread (pips) | Commission | Notes |
|---|---|---|---|
| Forex (EUR/USD) | 0.8 | $0 (Classic: $0.01 per 0.01 lot) | Tight spreads for major pairs |
| CFDs (Gold) | 1.0 | $0.07 per 0.01 lot | Competitive for commodities |
| Cryptos (BTC/USD) | 1.0% | Variable | Subject to market conditions |
Other Fees
FOREXimf does not impose any deposit or withdrawal fees; however, clients may incur bank administrative fees. The broker does not charge inactivity fees, but overnight interest (swap rates) are applicable depending on the account type. Currency conversion fees may also apply for transactions involving different currencies.
Trading Platforms and Apps
What Trading Platforms and Apps Does FOREXimf Offer for Traders?
| Platform | Device Support | Key Features | Additional Services |
|---|---|---|---|
| MetaTrader 4 (MT4) | Windows, macOS, iOS, Android | Secure login, multiple order types, price alerts, advanced charting tools, technical indicators | Demo accounts, automated trading with Expert Advisors (EAs) |
| Quick Pro App | iOS, Android | Fast order placement, secure login, market search, push notifications for alerts | Demo accounts |
| Web Version | Web-based (any OS with browser) | Secure login, symbol lookup, real-time alerts, customizable interface | Demo accounts |
FOREXimf provides a range of trading platforms designed to accommodate different trading styles and preferences. The MetaTrader 4 platform is well-suited for advanced traders, offering robust charting capabilities and automated trading through Expert Advisors. The Quick Pro app allows traders to manage their accounts on the go, providing convenience and quick access to market opportunities. The web version ensures that traders can access their accounts from any device with internet connectivity, supporting a seamless trading experience. Each platform incorporates secure login measures to protect user data and funds, allowing for efficient trading with real-time alerts and effective market search tools.
Deposit and Withdrawal
Deposit and Withdrawal Options
| Payment Method | Processing Time | Fees | Limits | Base Currency Options |
|---|---|---|---|---|
| Bank Transfer | 1–3 business days | No platform fee, bank charges may apply | Min RP 250,000, Max RP 100,000,000 | IDR |
| Credit/Debit Card | Instant | No platform fee | Min RP 250,000, Max RP 20,000,000 | IDR |
| e-Wallet (e.g., OVO, DANA) | Instant | No platform fee, 1.5% charge on withdrawals | Min RP 50,000, Max RP 10,000,000 | IDR |
Minimum Deposit
FOREXimf requires a minimum deposit of RP 250,000 for the Classic Account and RP 5,000,000 for the Gold Account. The minimum deposit may vary based on the account type selected by the trader.
How to Withdraw
To withdraw funds from your FOREXimf account, follow these steps: 1. Log in to your FOREXimf trading account. 2. Navigate to the ‘Withdrawal’ section. 3. Select your preferred withdrawal method. 4. Enter the withdrawal amount within the allowed limits. 5. Submit your withdrawal request for processing. 6. Check your email for confirmation and any additional instructions.
Customer Support
FOREXimf Customer Support Overview
Support Channels
FOREXimf provides a variety of support channels to ensure that traders receive the assistance they need. Traders can reach out to customer service via:
- Email: Support is available through the email address support@foreximf.com.
- Telephone: Traders can contact customer support by phone at 021 – 29380500.
- Live Chat: An interactive live chat option is also accessible on the website for immediate assistance.
- Social Media: FOREXimf maintains a presence on social media platforms, allowing for additional channels of communication.
Service Availability
FOREXimf’s customer support operates 24/5, ensuring that assistance is available during the trading week. The support team is equipped to assist clients in both Indonesian and English, catering to a multilingual audience.
Additional Resources
In addition to direct support, FOREXimf offers a wealth of educational resources to enhance traders’ knowledge and skills. These resources include video tutorials, live webinars, and market analysis. This commitment to education helps traders make informed decisions and improve their trading strategies.
Frequently Asked Questions
Yes, FOREXimf is a fully regulated brokerage firm operating under the supervision of BAPPEBTI and ICDX in Indonesia, ensuring compliance with strict regulations to protect traders.
FOREXimf offers two main account types: the Gold Account, designed for experienced traders with low spreads and high leverage, and the Classic Account, which is more accessible for beginners with a lower minimum deposit.
Client funds at FOREXimf are protected through the use of segregated accounts, ensuring that clients’ money is kept separate from the broker’s operational funds. This practice enhances fund safety and provides additional security for investors.
FOREXimf provides several trading platforms, including MetaTrader 4, which offers advanced charting tools and automated trading options, as well as the Quick Pro app for mobile trading, and a web version for convenient access from any browser.
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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.