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5 Important Things to Look For When Choosing a Forex Futures Broker

Maxco (29/9/2021) - Trading foreign exchange (forex) is currently in great demand by various groups in Indonesia. Forex trading is considered to offer a promising income because now it can be started with a minimal starting capital. To start trading forex, all traders must determine the right futures broker for trading because it will determine the trading journey. Currently there are dozens of futures brokers in Indonesia, not to mention if you add futures brokers from abroad. For this reason, traders need to be careful before choosing a futures broker.

The following are the criteria that a futures broker must have:

1. Regulated

Futures brokers in Indonesia must be registered with the Commodity Futures Trading Supervisory Agency (CoFTRA). Traders can easily access the website of CoFTRA to check whether a futures broker is registered or not. For example, Maxco registered with CoFTRA with No: 931/BAPPEBTI/PN/8/2006. In addition, Maxco is also a member of the futures exchange of PT. Jakarta Futures Exchange (JFX) and PT Indonesian Commodity Futures Clearing House (KBI). KBI itself is an institution that guarantees settlement of commodity and derivative transactions and JFX functions as a place for futures trading of various commodities. This means that all your funds and transactions will be safe if the futures broker joins KBI and JFX.

2. Low Commissions and Spreads

Commissions and spreads are one of the advantages that futures brokers get from every transaction made by their clients. The amount of commissions and spreads received by futures brokers is a fee that traders have to pay. The smaller the commission and spread received by futures brokers, the more profitable traders will be when trading. Like Maxco Futures, commissions start at $1 per lot and variable spreads start at 0.4.

3. Fast Execution

Futures brokers must provide a lot of convenience for traders, including in executing positions quickly even with market conditions that are quite high in volatility. Maxco Futures understands the needs of traders who need fast execution because Maxco uses STP (Straight Through Processing) to execute positions.

4. Complete Trading Platform

Futures brokers need to provide traders with a wide choice of platforms when trading. Maxco Futures provides complete services such as trading on webtrader which can be accessed either on a smart phone or desktop, and metatrader4. The more complete the platform that futures brokers have, it shows that the futures brokers are very focused on the convenience of trading their traders. Some futures brokers even have applications that can serve trading needs such as the latest news, withdrawals, deposits, etc. like Maxco.

5. High Leverage

Leverage is one of the features not found in trading other financial instruments. Leverage in forex is the ratio of capital to the amount of funds borrowed from futures brokers. This means that if a trader with 1:500 leverage means with a capital of $ 100, the trader can use $ 5000 of funds when trading with $ 499 is borrowed funds from futures brokers. With large leverage can increase the potential for high profits. Like Maxco which provides 1:500 leverage.

For that, be a smart trader in choosing a futures broker. Choose a futures broker that provides trading security and also benefits traders like Maxco!

Disclaimer:

Trading derivatives carries a high level of risk and may not be suitable for all investors. THERE IS NO GUARANTEE OF PROFIT on your investment.

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Risk Warning. Trading Forex and Leveraged Financial Instruments carries significant risk and may not be suitable for all investors. Please ensure you fully understand the risks and take appropriate care to manage your risk as you may lose all your invested capital. .

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E-mail cs@maxco.co.id
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