Score
Indonesia
|
2-5 years
| https://magnetfx.co.id/
Website
Rating Index
MT4/5
White Label
MagnetBerjangka-REAL
Influence
D
Influence index NO.1
Indonesia 2.75
MT4/5 Identification
White Label
IndonesiaInfluence
D
Influence index NO.1
Indonesia 2.75
Licenses
Single Core
1G
40G
1M*ADSL
Indonesia
Formal full license MT4/5 traders will have sound system services and follow-up technical support. Generally, their business and technology are relatively mature and their risk control capabilities are strong
magnetfx.co.id United States| MagnetFX Review Summary | |
| Founded | 2021 |
| Registered Country/Region | Indonesia |
| Regulation | BAPPEBTI, ICDX |
| Market Instruments | Forex, gold, silver, crude oil, US Index |
| Demo Account | ✅ |
| Leverage | / |
| Spread | / |
| Trading Platform | MT5 |
| Minimum Deposit | / |
| Customer Support | Tel: (021) 250 6336 |
MagnetFX, established in Indonesia, is a regulated broker under BAPPEBTI and ICDX. It offers trading in forex, gold, silver, crude oil, and the US Index via the MT5 platform, providing a risk-free demo account and streamlined online deposit/withdrawal processes with benefits for Bank BCA customers.
| Pros | Cons |
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MagnetFX has Retail Forex Licenses regulated by BAPPEBTI and the Indonesia Commodity and Derivatives Exchange (ICDX).
MagnetFX offers a variety of trading options, including over 20 Forex pairs, Gold & Silver commodities, Crude Oil commodities, and the US Index. They allow access to global markets with fast execution and operate under Indonesian regulations, with easy online account opening.
| Tradable Instruments | Supported |
| Forex | ✔ |
| Commodities | ✔ |
| US Index | ✔ |
| Stocks | ❌ |
| Cryptocurrencies | ❌ |
| Bonds | ❌ |
| Options | ❌ |
| ETFs | ❌ |
MagnetFX offers a demo account that is free of charge and uses virtual funds, allowing users to learn and simulate trading without risk. They offer live trading accounts as well, where users can trade with real capital.
| Trading Platform | Supported | Available Devices | Suitable for |
| MT5 | ✔ | PC, Mobile | Experienced traders |
| MT4 | ❌ | / | Beginners |
MagnetFX's deposit and withdrawal processes are conducted online through their client cabinet, requiring users to log in, select their desired transaction, specify bank and amount in USD, and submit proof for deposits. Bank BCA customers benefit from instant, free top-ups by including their account number in the transfer description.
From my personal experience and research, I consider MagnetFX a legit broker. Being regulated by BAPPEBTI and ICDX means they operate under clear legal oversight. That said, I never take “safe” for granted—forex and commodity markets are volatile, so even with a regulated broker, I use stop-loss orders and careful position sizing to manage my risk.
For me, the pros are quite clear: strong regulation (BAPPEBTI + ICDX), access to the MT5 trading platform, and a free demo account that I’ve used extensively for strategy testing. I also like that MagnetFX withdrawal and deposit processes are done online and are quite smooth, especially for Bank BCA customers like me, who get instant top-ups with no fees.
For Bank BCA withdrawals, I’ve always received the full amount with no deductions. Friends using other banks told me they sometimes see small interbank transfer fees, so I stick with BCA to avoid that.
I mainly use Bank BCA transfers because they’re fast and free for me. MagnetFX also supports other Indonesian local banks, all processed through their online client cabinet, which centralizes transaction management.
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