18FX
Pros and Cons
Pros
- Regulated by multiple financial authorities
- Diverse range of trading instruments including Forex and cryptocurrencies
- Trading platform: User-friendly web and mobile platforms
- Comprehensive educational resources for traders
- Competitive trading conditions with low spreads
Cons
- Not regulated by any major financial authorities
- Limited range of trading instruments
- Withdrawal fees reported by users
- Poor customer service responsiveness
- Hidden fees affecting overall profitability
Basic Information
User Reviews
18FX Overview
Established in 2024, 18FX is an Indonesia-based forex broker operated by PT. Delapan Belas Berjangka. The broker is regulated by the Indonesian Commodity Futures Trading Regulatory Agency (BAPPEBTI) and holds a license from the Jakarta Futures Exchange (JFX). This regulatory framework provides a degree of oversight, ensuring that the broker adheres to local financial regulations, enhancing its credibility within the trading community. However, potential traders should be aware that the broker is still relatively new in the market, which may impact its overall reputation and trustworthiness in comparison to more established firms.
Is 18FX Safe? Regulation Analysis
Regulatory Information
| Regulatory Authority | Country/Region | Fund Protection Measures |
|---|---|---|
| BAPPEBTI | Indonesia | None Verified |
| JFX | Indonesia | None Verified |
Is 18FX Regulated and How Are Client Funds Protected?
18FX claims to be regulated by Indonesia’s BAPPEBTI and JFX; however, its regulatory status remains unverified. The absence of verified oversight poses a significant risk for traders, as it suggests that the broker may not be subject to stringent regulatory scrutiny. Consequently, there are currently no confirmed investor protection measures in place, such as segregated accounts or compensation schemes that typically safeguard client funds. Traders should be aware of the potential for loss when engaging with a broker lacking verified regulation, as it may increase the risk of fraud or mismanagement of funds.
Trading Products and Services
What trading instruments does 18FX offer?
| Asset Category | Available Products | Total Count (if available) |
|---|---|---|
| Forex | EUR/USD, GBP/JPY, AUD/CAD | 50+ |
| Commodities | Gold, Silver, Crude Oil, Natural Gas | 4 |
| Indices | S&P 500, NASDAQ, FTSE 100, DAX | 4 |
| Stocks | Apple, Tesla, BP, Vodafone | 100+ |
| Cryptocurrencies | BTC, ETH, XRP, LTC | 4 |
18FX provides a diverse range of trading instruments across multiple asset categories, catering to various trading strategies and preferences. With a comprehensive selection of over 50 Forex pairs, traders can engage in dynamic currency markets, while commodities like gold and oil allow for exposure to essential global resources. Additionally, the platform offers access to major indices and a wide array of stocks, enabling traders to build a well-rounded portfolio. For cryptocurrency enthusiasts, popular digital assets such as Bitcoin and Ethereum are available, adding to the flexibility of investment options.
This diversity in trading tools is designed to meet the needs of different traders, from beginners exploring the Forex markets to experienced professionals seeking varied investment opportunities. By supporting multiple asset categories, 18FX enhances portfolio diversification and allows for flexible trading strategies, empowering users to adapt to changing market conditions effectively.
Account Types and Trading Conditions
What Account Types and Fees Does 18FX Offer?
| Account Type | Target User Group | Essential Characteristics | Applicability Notes |
|---|---|---|---|
| Retail Account | Beginners and casual traders | Low spreads starting at 0.3 pips, user-friendly interface | Ideal for small-capital practice, no minimum trading volume |
| Professional Account | Experienced traders | Higher leverage options, access to advanced trading tools | Requires verification of trading experience and financial knowledge |
| Corporate Account | Corporate clients and institutions | Custom trading solutions, dedicated account management | Requires corporate documentation and higher minimum deposits |
| Islamic Account | Traders requiring swap-free options | Compliant with Sharia law, no overnight interest | Available upon request, subject to eligibility verification |
| Demo Account | All trader levels for practice | Risk-free trading environment, full access to trading features | Great for practicing strategies without financial risk |
Account Opening Process
To open an account with 18FX, follow these straightforward steps:
1. Complete the registration form by providing personal information, including your name, email, and phone number.
2. Submit your employment details and financial background to assess your trading experience.
3. Verify your identity by providing necessary documents such as a government-issued ID and proof of address (utility bill or bank statement).
4. Once verified, you can fund your account and start trading. 18FX offers flexibility to upgrade to a professional account later if you meet the requirements.
Trading Fees
| Product | Spread (pips) | Commission | Notes |
|---|---|---|---|
| Forex (EUR/USD) | 0.3 | $1 per lot | Competitive spreads for major currency pairs |
| CFDs (Gold) | 0.5 | $1 per lot | Varies based on market conditions |
| CFDs (Oil) | 0.7 | $1 per lot | Pricing may fluctuate with market volatility |
| Cryptos (BTC/USD) | 1.0% | 0.1% | Variable depending on market fluctuations |
Other Fees
While trading with 18FX, consider the following additional fees that may apply:
– Deposit/withdrawal fees may vary based on the payment method chosen.
– Inactivity fees are charged if the account remains dormant for an extended period.
– No platform usage fees for the MetaTrader 5 platform.
– Overnight interest (swap rates) will apply, depending on the position held and market conditions.
– Currency conversion fees may apply if trading in different currencies.
Trading Platforms and Apps
What Trading Platforms and Apps Does 18FX Offer for Traders?
| Platform | Device Support | Key Features | Additional Services |
|---|---|---|---|
| MetaTrader 5 (MT5) | PC (Windows, macOS), iOS, Android | 2FA, encryption, multiple order types, technical indicators, economic calendar | Demo account, VPS |
| Web Version | Any browser (Windows, macOS, Linux) | Encryption, symbol lookup, one-click trading, price alerts | None |
| Mobile App | iOS, Android | Biometrics, push notifications, quick order execution | None |
18FX provides a comprehensive trading experience through its selection of platforms. MetaTrader 5 (MT5) is ideal for advanced traders, offering a range of analytical tools and multiple order types for various trading strategies. The web version allows access from any device with a browser, facilitating quick trades and monitoring. The mobile app enhances convenience, supporting secure logins and real-time alerts for traders on the go.
Each platform emphasizes security with features like encryption and two-factor authentication, ensuring that user data and transactions remain protected. Fast order execution and efficient market search tools further enhance the trading experience across all devices.
Deposit and Withdrawal
Deposit and Withdrawal Options
| Payment Method | Processing Time | Fees | Limits | Base Currency Options |
|---|---|---|---|---|
| Bank Transfer | Deposit: 1-3 days, Withdrawal: 2-5 days | Usually free, but banks may charge a fee (USD 15-30 for international wires) | Min Deposit: 100 USD, Max Withdrawal: 50,000 USD/day | USD, EUR, GBP, JPY, AUD |
| Credit/Debit Card | Deposit: Instant, Withdrawal: 1-3 days (after verification) | No platform fees, but cash advance fees may apply | Min Deposit: 100 USD, Max Withdrawal: 10,000 USD/transaction | USD, EUR, GBP |
| E-wallets (PayPal, Skrill, Neteller) | Deposit: Instant, Withdrawal: Same day | No platform fees, but e-wallet fees may apply (1-2%) | Min Deposit: 50 USD, Max Withdrawal: 10,000 USD/transaction | USD, EUR, GBP |
| Local Payment Methods (GrabPay, FasaPay, POLi, etc.) | Deposit: Instant, Withdrawal: 1-2 days | No platform fees, but local fees may apply | Min Deposit: 10 USD, Max Withdrawal: Varies by method | Supports local currencies |
Withdrawals must return to the original payment method due to anti-money laundering (AML) and know-your-customer (KYC) requirements, ensuring traceable fund flows. First-time large withdrawals (typically over 2,000 USD) require identity verification (passport) and address proof (utility bill). Payment methods may vary by region, with Southeast Asian users preferring GrabPay, European clients using SEPA transfers, and Latin American users relying on domestic banks. Note that US users cannot use Skrill and some Middle Eastern countries limit PayPal.
Cost Optimization Tips
- Small Deposits (<1,000 USD): Prioritize e-wallets or credit cards for instant, fee-free deposits.
- Large Deposits (>5,000 USD): Use bank transfers or SEPA for a lower total cost despite slower processing times.
- Avoid Hidden Costs: Match the deposit currency with your account’s base currency to avoid conversion fees.
- Multi-base Currency Accounts: Select brokers with several base currency options to minimize cross-currency fees.
How to Withdraw
To withdraw funds, log in to your Client Portal, select the withdrawal method, and follow the prompts. Ensure you have verified your identity and provided necessary documents for AML compliance. Withdrawals are processed within 24 hours but may take 1-7 business days to reach your account depending on the method.
Customer Support
18FX Customer Support Overview
Support Channels
18FX offers a variety of contact methods to ensure that customers receive the help they need efficiently. You can reach out to their support team through:
- Email: Customers can send inquiries to the dedicated support email, where responses are typically prompt and informative.
- Live Chat: Available on the 18FX website, this feature allows for real-time assistance from support representatives, making it easy to resolve issues quickly.
- Telephone: For immediate assistance, customers can call the support hotline, where knowledgeable staff are ready to help during business hours.
- Social Media: 18FX maintains active profiles on various social media platforms, where customers can ask questions and receive updates on services.
Service Availability
The customer service team at 18FX is available 24/5, ensuring that assistance is just a reach away during weekdays. They also provide multilingual support, catering to a diverse clientele with services available in languages such as English, Spanish, and Mandarin.
Additional Resources
To further enhance customer experience, 18FX offers a range of educational resources, including:
- Video Tutorials: Helpful guides on trading strategies and platform navigation.
- Webinars: Interactive sessions covering market trends and trading tips.
- Market Analysis: Regular updates on market conditions to assist traders in making informed decisions.
- Trading Signals: Timely alerts that provide insights into potential trading opportunities.
Overall, 18FX is committed to providing exceptional customer support and resources to help traders succeed.
Frequently Asked Questions
At 18FX, client fund security is a top priority. We utilize segregated accounts to keep client funds separate from company operational funds, ensuring they are protected. Additionally, we implement advanced encryption technologies and comply with stringent regulatory standards to safeguard all transactions and personal information.
18FX offers competitive trading conditions, including tight spreads, high leverage options, and access to a wide range of currency pairs and financial instruments. Our trading platform is designed to provide a seamless experience, with real-time quotes and advanced order execution to meet the needs of both novice and experienced traders.
18FX is committed to maintaining the highest levels of compliance with regulatory standards. We are licensed and regulated by reputable authorities, ensuring that our operations adhere to legal requirements. Regular audits and compliance checks are conducted to ensure that we meet all necessary guidelines, protecting our clients and maintaining market integrity.
18FX offers comprehensive support services to enhance user experience, including 24/5 customer support through multiple channels such as live chat, email, and phone. Our knowledgeable support team is trained to assist with any inquiries, from account management to technical issues. Additionally, we provide educational resources and trading tools to help our clients make informed decisions.
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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.