Overview:
Sinarmas Futures is a futures and forex brokerage company based in Indonesia. Established in 2015 as a subsidiary of Sinarmas Group, it is licensed and regulated by the Commodity Futures Trading Regulatory Agency (BAPPEBTI) of Indonesia. The company offers a range of futures contracts including indexes, commodities, currencies, and treasury bonds. With a minimum deposit of IDR 10 million, Sinarmas Futures provides trading access to both retail and professional clients with leverage of up to 1:100 for retail clients and up to 1:500 for professional clients. The company offers multiple account types such as individual, joint, institutional, sharia, demo, micro, and VIP accounts to cater to different trader requirements. Sinarmas Futures supports popular trading platforms including MetaTrader 4, WebTrader, SNFX Trader, and mobile apps for Android and iOS devices. They provide 24/5 customer support, trading educational resources, market analysis, and daily outlook reports. While primarily focused on the Indonesian market, Sinarmas Futures offers opportunities for Indonesian traders and investors to engage in futures and forex trading with regulated services and a variety of account types and platforms.
Regulation:
Sinarmas Futures is a regulated futures and forex brokerage based in Indonesia. Regulated by the Commodity Futures Trading Regulatory Agency (BAPPEBTI) of Indonesia. Traders have access to a wide range of futures contracts, including indexes, commodities, currencies, and treasury bonds. They also provide trading services for major, minor, and exotic currency pairs in the forex market. Sinarmas Futures offers various account types, including individual, joint, institutional, Sharia, demo, micro, and VIP accounts, catering to the diverse needs of traders.
The brokerage provides multiple trading platforms, including MetaTrader 4, WebTrader, SNFX Trader, and mobile apps for Android and iOS devices. These platforms offer advanced charting, analysis tools, and order execution capabilities. Sinarmas Futures prioritizes customer support, offering 24/5 assistance to clients. They also provide educational resources, market analysis, and daily outlook reports to help traders stay informed. As a regulated brokerage, Sinarmas Futures aims to provide Indonesian traders and investors with a comprehensive and regulated trading experience in the futures and forex markets.
Market Instruments:
Sinarmas Futures provides access to futures contracts, which include indexes, commodities, currencies, and treasury bonds. Trading futures contracts enables investors to speculate on the price movements of underlying assets without owning them directly. This allows for greater flexibility and potential for profit in both rising and falling markets.
In addition to futures, Sinarmas Futures offers trading in the forex market. Clients can trade major currency pairs such as EUR/USD, GBP/USD, and USD/JPY, as well as minor and exotic currency pairs. The forex market is the largest and most liquid financial market in the world, providing traders with opportunities to profit from fluctuations in exchange rates.
To summarize, Sinarmas Futures provides a wide range of market instruments to cater to the trading needs of its clients. By offering access to futures contracts and a diverse selection of currency pairs, traders have the ability to participate in various markets and potentially capitalize on market movements.
Account Types:
Sinarmas Futures offers a diverse range of trading account types to cater to the needs of various traders. Let's take a closer look at the different account types provided by Sinarmas Futures:
Individual Account: The Individual Account is designed for individual traders who prefer to trade on their own. It is a standard trading account that requires a minimum deposit of IDR 10 million. Traders with an Individual Account have access to all the available trading platforms, tools, and resources provided by Sinarmas Futures.
Joint Account: The Joint Account allows 2-3 persons to trade together on a single account. It is suitable for traders who want to collaborate and share trading strategies and responsibilities. The minimum deposit required for a Joint Account is IDR 10 million, and additional identity verification may be required for all account holders.
Institutional Account: The Institutional Account is tailored for corporate entities and institutional investors, including banks and asset managers. This account type requires a higher minimum deposit of IDR 100 million. Traders with an Institutional Account have access to advanced trading features, dedicated account managers, and other institutional-grade services.
Sharia Account: Sinarmas Futures offers a Sharia Account that adheres to Islamic principles of finance. It is designed for traders who follow Sharia guidelines and prohibits activities such as swaps and earning interest. The Sharia Account requires a minimum deposit of IDR 10 million and provides access to all trading platforms.
Demo Account: The Demo Account is a practice account that allows traders to familiarize themselves with the trading platforms and test their trading strategies without risking real money. It is an invaluable tool for new traders to gain experience and confidence in a risk-free environment.
Micro Account: The Micro Account is designed for small retail traders who prefer to trade with smaller contract sizes. It allows traders to trade micro and mini lots starting from 0.01. The minimum deposit for a Micro Account is IDR 1 million, making it accessible to traders with limited capital.
VIP Account: The VIP Account is a premium account tailored for high-net-worth traders. To open a VIP Account, a minimum deposit of IDR 50 million is required. Traders with a VIP Account enjoy exclusive benefits such as a dedicated account manager, personalized market research, and other enhanced services to support their trading needs.
Leverage:
Sinarmas Futures offers varying leverage options for different client categories. For retail clients, the maximum leverage available for forex trading is 1:100, while for futures trading, it is set at 1:10. Professional clients have access to higher leverage, with forex trading offering up to 1:500 leverage and futures trading offering up to 1:25 leverage. It is important to note that the specific leverage for indexes depends on the particular contract, typically ranging from 1:5 to 1:10.
Clients who wish to utilize higher leverage must make a specific request, as it is not automatically granted. Approval for higher leverage is based on factors such as the client's trading experience and volume. Additionally, Sinarmas Futures reserves the right to reduce leverage during periods of high market volatility or based on account performance.
While leverage can be advantageous in allowing traders to control larger positions with a smaller upfront deposit, it is crucial to exercise caution. The potential for higher profits with leverage also means that losses can escalate rapidly if not managed properly. It is strongly advised for clients to maintain proper risk management practices, including the use of stop losses and avoiding excessive leverage, in order to protect against potential losses.
Institutional clients may have the opportunity to negotiate custom leverage levels based on agreements and regulatory requirements. Ultimately, Sinarmas Futures provides leverage options that are higher compared to some other brokers. However, the granting of leverage is contingent upon the client's suitability assessment, and it is essential for traders to understand and utilize leverage safely and responsibly.
Spreads & Commissions:
Sinarmas Futures does not openly disclose its specific spreads for forex and futures trading. However, based on user reviews and feedback, it can be inferred that the typical spreads for forex trading are variable and range between 1-3 pips for major currency pairs like EUR/USD, GBP/USD, and USD/JPY. It is important to note that spreads may be wider for less liquid currency pairs. For futures contracts, specific spread information is not provided, but they are generally competitive. For example, popular contracts such as Crude Oil have spreads ranging from approximately 0.10-0.30 USD per lot, depending on market liquidity and volatility.
In terms of index futures, spreads for instruments like IDX30 and NK225 can vary between 1-10 index points approximately. It is worth noting that spreads are influenced by market conditions, including liquidity and volatility.
Sinarmas Futures does not charge separate commissions for forex and futures trades. Instead, transaction fees are built into the spreads. Institutional clients may be subject to additional volume or incentive-based commissions as per their agreement with the broker.
Traders should be aware that inactive or dormant accounts with no trading activity for six months may incur a monthly fee of IDR 100,000. It is advisable to review the broker's account terms and conditions for detailed information on fees and charges.
Overall, Sinarmas Futures aims to offer competitive spreads in line with other global brokers. The exact pricing may be customized and requires opening an account to access live quotes. Traders with higher trading volumes may benefit from tighter spreads.
Deposit & Withdrawal:
Sinarmas Futures provides several deposit methods for its clients. Accepted deposit methods include bank wire transfers, debit cards, and cash deposits. The broker does not charge any fees for deposits. For wire transfers and debit card deposits, funds are typically credited within 1 business day. The minimum initial deposit required to open a trading account is IDR 10,000,000.
When it comes to withdrawals, clients can make withdrawals via bank wire transfers. Domestic Indonesian bank transfers do not incur any withdrawal fees. However, for international wire transfers, fees may vary depending on the transfer amount, typically ranging from $30 to $40 per transfer. The withdrawal processing time is generally 1-2 business days for domestic transfers and may take up to 5 days for international transfers. There is no minimum withdrawal amount specified by the broker. It's important to note that withdrawals can only be made to a bank account under the same name as the trading account holder. The first withdrawal request may require standard account verification and Know Your Customer (KYC) procedures.
Overall, Sinarmas Futures strives to provide convenient deposit and withdrawal options for its clients, particularly those based in Indonesia. International clients should be aware of the additional wire fees and longer processing times associated with international transfers. The withdrawal rules enforced by the broker are designed to ensure security and compliance with regulatory requirements.
Trading Platforms
Sinarmas Futures offers a range of trading platforms to cater to the needs of its clients. The most popular platform is MetaTrader 4 (MT4), a widely recognized and trusted platform in the retail trading industry. MT4 provides advanced charting capabilities, a wide range of technical analysis tools, and the ability to use Expert Advisors for automated trading. It also supports mobile trading on both iOS and Android devices, allowing clients to trade on the go. With MT4, clients can trade various instruments including forex, futures, indexes, and commodities.
Another platform available is MetaTrader 5 (MT5), which is an enhanced version of MT4. MT5 offers additional features such as more indicators, a greater variety of timeframes, advanced order types, integrated trading signals, and comprehensive market analysis tools. Similar to MT4, MT5 is suitable for both forex and futures trading.
Sinarmas Futures also provides its own proprietary desktop trading platform called SNFX Trader. This platform offers a range of built-in features including charts, news feeds, risk management tools, pending order functionality, and position tracking. It also allows for customizable layouts, enabling traders to tailor the platform to their preferences.
For those who prefer a browser-based trading experience, Sinarmas offers WebTrader. This online trading platform requires no software download and provides convenient access to account monitoring, trade execution, charting, and account details from any web browser.
Mobile trading is made possible through the MT4 and MT5 mobile apps, available for both Android and iOS devices. These mobile apps allow clients to access their accounts, execute trades, and perform market analysis directly from their smartphones or tablets.
Additionally, Sinarmas Futures provides FIX API connectivity for institutional clients. This allows integration with in-house or third-party trading systems and algorithms, catering to the specific needs of institutional traders.
Overall, Sinarmas Futures offers a diverse range of trading platforms including MetaTrader 4, MetaTrader 5, SNFX Trader, WebTrader, and mobile apps. These platforms provide the necessary tools and features for traders of all levels, from basic to advanced, and are designed to deliver a seamless trading experience across devices.
Customer Support:
Sinarmas Futures places a strong emphasis on providing quality customer support to its clients. The following points highlight key aspects of their customer support services:
Support Availability: Customer support is available 24/5, from Monday to Friday, during the hours of 8 AM to 5 PM Western Indonesian Time. This ensures that clients have access to assistance during major market hours and throughout the trading week.
Contact Options: Clients can reach out to the support team via multiple channels, including live chat, email, and phone. These options provide flexibility and convenience for clients to choose their preferred method of communication.
Language Support: Sinarmas Futures offers customer support in both Indonesian and English languages. Indonesian customers can receive assistance in their native language, while international clients are provided with English language support.
Phone Support: The broker offers dedicated phone lines for customer support. These include a Jakarta office line and a toll-free national call number, making it convenient for clients to seek assistance via phone if needed.
Responsiveness: Based on online reviews, Sinarmas Futures appears to have reasonably short wait times and quick responses via their live chat support. This indicates that clients can expect timely assistance and prompt resolution of their queries or concerns.
Support Scope: The customer support team is knowledgeable about the broker's trading products, platforms, and account services. They can address a wide range of inquiries, including general account-related questions, technical issues, platform troubleshooting, and trade queries.
New Account Guidance: Sinarmas Futures' support team also assists clients with the process of opening new accounts and provides guidance on getting started with their trading journey. This ensures that new clients receive proper guidance and support during the onboarding process.
Escalation Process: In cases where complex inquiries or complaints arise, Sinarmas Futures has an escalation process in place. Such issues may be escalated to supervisors or the customer service management team to ensure appropriate resolution and customer satisfaction.
Institutional Support: Institutional clients may receive additional support in the form of dedicated account managers and priority support channels. This specialized assistance caters to the unique requirements and higher volume trading needs of institutional traders.
Overall, Sinarmas Futures demonstrates a commitment to providing comprehensive customer support services to both Indonesian and international retail clients. Their support availability, multiple contact options, language support, knowledgeable staff, and attention to client needs contribute to a positive customer support experience.
Summary:
Sinarmas Futures, a futures and forex brokerage company based in Indonesia, offers a range of services to cater to the needs of Indonesian and international traders. Here is a summary of the key aspects of Sinarmas Futures:
Pros:
Regulation: Sinarmas Futures is licensed and regulated by the Commodity Futures Trading Regulatory Agency (BAPPEBTI) of Indonesia, providing a level of trust and accountability to clients.
Account Types: The broker offers a variety of account types, including individual, joint, institutional, Sharia, demo, micro, and VIP accounts, allowing traders with different preferences and trading styles to choose an account that suits their needs.
Leverage Options: Sinarmas Futures provides leverage options of up to 1:100 for retail clients and up to 1:500 for professional clients, enabling traders to potentially amplify their trading positions.
Trading Platforms: The broker offers popular trading platforms such as MetaTrader 4 (MT4) and MetaTrader 5 (MT5), as well as proprietary trading platforms like SNFX Trader and WebTrader. Mobile trading apps for Android and iOS devices are also available, ensuring flexibility and accessibility for traders.
Tradable Assets: Sinarmas Futures offers access to a wide range of tradable assets, including futures contracts, forex pairs, indexes, commodities, and treasury bonds, allowing clients to diversify their portfolios.
Customer Support: The broker provides 24/5 customer support in both Indonesian and English languages. Multiple contact options, including live chat, email, and phone, are available, ensuring prompt assistance to clients.
Cons:
Limited Presence Outside Indonesia: While Sinarmas Futures offers comprehensive services to Indonesian traders, its presence outside of Indonesia seems limited, which may limit access for international traders seeking brokerage services.
Lack of Transparency on Spreads: Sinarmas Futures does not openly disclose its spreads for forex and futures contracts, which can make it challenging for potential clients to evaluate the cost of trading with the broker.
Limited Payment Methods Information: Detailed information about accepted payment methods is not provided, making it important for potential clients to inquire about available options.
Overall, Sinarmas Futures provides regulated trading services, a variety of account types, multiple trading platforms, and a wide range of tradable assets. While there may be limited information on spreads and payment methods, the broker's customer support and flexibility in leverage options are notable advantages. Traders should carefully consider their specific needs and conduct further research before choosing Sinarmas Futures as their brokerage provider.
FAQs:
Q: Is Sinarmas Futures regulated？
A: Yes, Sinarmas Futures is regulated by the Commodity Futures Trading Regulatory Agency (BAPPEBTI) of Indonesia.
Q: What is the minimum deposit to open a live trading account？
A: The minimum deposit to open a live trading account with Sinarmas Futures is IDR 10 million (~USD 700).
Q: What trading platforms are available？
A: Sinarmas Futures offers MetaTrader 4 (MT4), MetaTrader 5 (MT5), SNFX Trader (proprietary platform), WebTrader (browser-based platform), and mobile apps for Android and iOS devices.
Q: What are the available account types？
A: Sinarmas Futures provides individual, joint, institutional, Sharia, demo, micro, and VIP account types to cater to different trader preferences and needs.
Q: Does Sinarmas Futures offer customer support？
A: Yes, Sinarmas Futures offers 24/5 customer support through live chat, email, and phone. Support is available in both Indonesian and English languages.
