What is Sibfx？
Sibfx is a trading platform operated by PT. Investor Sentratama Futures, a company registered in Indonesia. Notably, it's overseen by BAPPEBTI, Indonesia's Commodity Futures Trading Regulatory Agency, providing some level of regulatory protection for its users. As with any platform, potential investors should carefully consider the platform's offerings, reputation, and their own risk tolerance before proceeding with trades.
Pros & Cons
Pros:
Supports MetaTrader 4 (MT4), which is popular for its advanced tools and features for trading.
Provides demo accounts for practice and testing strategies without risking actual money.
Regulated by the BAPPEBTI, it provides an additional layer of trust and security.
The company has taken several security measures including safekeeping client funds in separate accounts.
Cons:
The platform has a very confusing and potentially challenging user interface.
The website supports only the Indonesian language, making it hard to use for those unfamiliar with the language.
The company implements a loose spread which may result in higher trading costs.
Commissions are charged on trades, which can make trading more expensive.
There have been several issues reported by customers, which may affect trust in the platform.
There are regional restrictions with the platform not being available in United States, Canada, Russia, Myanmar, Cote D'Ivoire, Cuba, Iran, Syria , Belarus, Congo, Iraq, Liberia, Sudan, Zimbabwe and North Korea.
Is Sibfx Safe or Scam？
Regulatory Sight: Sibfx is a regulated trading platform with a Retail Forex License. Its regulatory oversight comes from BAPPEBTI (Badan Pengawas Perdagangan Berjangka Komoditi), which is the Commodity Futures Trading Regulatory Agency under the Ministry of Trade in Indonesia. The platform has been granted license number 09/BAPPEBTI/SI/XII/2000. This status adds a layer of protection for traders using their services as the platform is subject to the regulations and standards set by the Indonesian financial authority.
User Feedback: Users of the platform appear to be experiencing a series of substantial issues, primarily revolving around the withholding of funds. Multiple customers have reported being unable to retrieve their money for periods extending up to five months, a problem that has received little to no response from customer support. In many reported cases, this has led users to label the platform as fraudulent. Some other customers have also complained about suspected scam operations, including instances of induced fraud where the platform's staff allegedly guided users toward making deposits for orders that turned out to be unprofitable.
Segregated Accounts: As per Article 45 Paragraph 3 of Law No. 32/1997 and Decree of Bappepti No. 17/2000, Sibfx keeps customer funds separate from company accounts, a practice commonly known as segregated accounts.
Adjusted Net Capital: Sibfx appears to maintain capital as required by regulations (SK Bappebti No. 10/2000), enhancing its risk-management capacity and financial resilience.
Compensation Fund: Sibfx also has a compensation fund in place as per article 46 of UU No 32/1997 for added financial protection.
Market Instruments
Sibfx specializes in offering a variety of market instruments for trading. This includes foreign exchange, allowing investors to trade different currencies against each other. Secondly, they offer stock indices, which enable traders to invest in specific sectors of the economy. Sibfx also offers the opportunity to trade commodities, providing access to markets for goods such as metals, oil, or agricultural products. Lastly, they provide access to world market indices, allowing traders to speculate on the performance of major global markets as a whole.
Account Types
Sibfx offers a demo account for its users, which is quite an advantage. This type of account allows potential traders to practice and understand the platform's functionalities without risking real money. And another account type offered by Sibfx is the real account. Users are recommended to reach out to Sibfx directly for more comprehensive information.
Leverage
Sibfx offers a maximum leverage ratio of up to 1:100. This level of leverage allows traders to trade positions that are up to 100 times larger than their initial investment. While this level may be considered average in comparison to some other brokers, it provides sufficient trading power for most traders. However, it's critical to keep in mind that while higher leverage can amplify profits, it also increases potential losses. Thus, inexperienced traders are typically advised to exercise caution when using high leverage.
Spread & Commission
SIB offers relatively wide spreads of 3 pips on major currency pairs such as EURUSD, USDJPY, GBPUSD, USDCHF, and AUDUSD. In addition, a commission of 50 USD per lot is applied to all trades. For Loco Gold trades, all bids and offers are at a rate of at least $0.50. This commission and spread structure may increase the cost of trading for investors on the SIB platform.
Trading Platform
Sibfx offers its traders the popular MT4 trading platform. This platform is known for its robust charting tools and a plethora of technical indicators, assisting traders in the in-depth market analysis. Its user-friendly interface enhances the trading experience. The MT4 platform also supports automated trading via Expert Advisors (EAs), allowing traders to design their own trading strategies. The comprehensive features of the MT4 platform aim to support traders in making informed decisions and enhancing their performance in the financial markets.
Conclusion
Sibfx is a regulated trading platform based in Indonesia offering services in Forex, stock indices, commodities, and world market indices. Despite having certain features such as support for MT4, demo accounts, and safety measures, the platform has some cons including a confusing interface and numerous regional restrictions. Additionally, reported user issues and certain financial aspects like wider spreads and trade commissions need improvement.
Frequently Asked Questions (FAQs)
Q: Does Sibfx provide demo accounts？
A: Yes, Sibfx offers a demo account for users to become familiar with their platform and practice trading without the risk of losing real money.
Q: What is the leverage provided by Sibfx？
A: Sibfx offers a maximum leverage ratio of up to 1:100.
Q: What are the trading fees on Sibfx？
A: Sibfx charges a commission of 50 USD per lot and typically offers a spread of 3 pips on major currency pairs.
Q: Is Sibfx regulated？
A: Yes, Sibfx is regulated by the BAPPEBTI, Indonesia's Commodity Futures Trading Regulatory Agency.
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
2023-02-27 17:03
2022-12-06 18:59
