General Information
PT. Cyber Futures, also “CF Forex”, is a brokerage company that has been established since 2013. CF Forex is engaged in trading financial derivative futures and is under the auspices of the Jakarta Futures Exchange and the Indonesian Futures Clearing House.
Traders can choose from two account types: standard and demo. The standard account allows for live trading with leverage of up to 1:200 but includes a commission fee of 30 USD per standard lot traded, resulting in a relatively high total spread for certain currency pairs. Notably, this spread is higher than the industry average of 1 to 1.5 pips for a standard account. While the demo account provides a risk-free environment for traders to practice and learn.
CFForex offers various trading instruments that cater to different investment preferences. These include Forex, Gold, Index, OLEIN, and Physical Gold, providing traders with opportunities for diversification. However, it's important to note that the lack of regulatory oversight may pose risks, and traders should exercise caution when considering this broker.
The company utilizes the MetaTrader 4 (MT4) trading platform, available on Windows, Android, and iOS devices. This platform offers essential tools and features for forex trading, ensuring accessibility and flexibility for traders on different devices. Additionally, CFForex provides educational resources in the form of market update articles, aiding traders in staying informed and making informed trading decisions. However, the absence of bonus offerings and regulatory oversight remains a concern for potential users.
Is CFForex Legit？
CFForex is not regulated by any recognized financial regulatory authority. As an unregulated broker, it operates without oversight from regulatory bodies that are responsible for ensuring compliance with industry standards and protecting the interests of traders. This lack of regulation raises concerns about the safety and security of funds, as well as the transparency of the broker's business practices.
Trading with an unregulated broker like CFForex carries inherent risks. Without regulatory supervision, there may be limited avenues for dispute resolution, and traders may face challenges in seeking recourse in case of any issues or disputes. Additionally, unregulated brokers may not be subject to stringent financial and operational standards, potentially leading to inadequate client fund protection and unfair trading practices.
Pros and Cons
CFForex presents traders with a range of advantages and disadvantages to consider. On the positive side, it offers a diverse selection of tradable assets, including Forex, Gold, Index, OLEIN, and Physical Gold, allowing for portfolio diversification. The user-friendly MetaTrader 4 platform, available on multiple devices, enhances convenience for traders. Additionally, educational resources in the form of market update articles help traders stay informed about market developments. However, there are notable drawbacks, such as the absence of regulation, which raises concerns about fund safety and transparency. The total cost of trading, including a commission fee and spread, can be relatively high compared to industry averages. Customer support is primarily tailored to Indonesian-speaking traders, potentially limiting accessibility for international users. Lastly, there are no specified bonus offerings, which may deter traders seeking promotional incentives. Traders should weigh these pros and cons carefully when considering CFForex as their trading platform.
Market Instruments
CF Forex offers investors a range of financial instruments including forex currency pairs, gold, commodities, index.
CFForex provides a range of trading instruments:
1. Forex (Foreign Exchange): This involves trading foreign currencies, and it offers advantages like high liquidity, nearly 24/5 trading hours, tight spreads, and the ability to profit from both rising and falling markets. With CFForex, you can trade forex with a small percentage of the contract value, making it accessible to many traders.
2. Gold (LOCO LONDON - XAU-USD): CFForex offers gold trading based on the Loco London physical market. This means you can trade gold without the need for physical delivery. The advantages include low transaction costs, high liquidity, quick order execution, and the ability to profit from declining prices. It's available for trading 24 hours on weekdays, and the low margin requirement can significantly enhance your return on investment (ROI).
3. Index (Hang Seng Index): This instrument allows you to trade the Hang Seng Index, which represents the performance of the largest companies listed on the Hong Kong Stock Exchange. CFForex offers competitive advantages such as low and fixed spreads, no overnight holding fees, instant market execution, and a low margin requirement. Trading sessions are available during specific hours.
4. OLEIN: OLEIN trading involves derivatives of crude palm oil and is conducted through the Jakarta Futures Exchange. Contracts are available in 20-ton (OLE) or 10-ton (OLE10) sizes. You can trade OLEIN online, benefitting from real-time and transparent pricing. Additionally, the capital requirements are relatively lower.
Physical Gold (GOL, GOL100 & GOL250): CFForex allows you to trade physical gold contracts in Indonesian Rupiah on the Jakarta Futures Exchange. You have options for contract sizes: 1 kg (GOL), 100 grams (GOL100), or 250 grams (GOL250). Enjoy transparent pricing and the convenience of online trading.
Here is a comparison table of trading instruments offered by different brokers:
Account Types
CFForex offers two types of trading accounts: standard and demo.
The standard account is for live trading with leverage up to 1:200. However, it has a 30 USD commission per standard lot traded, which adds to the spread, resulting in a relatively high total spread of 5.4 pips for EURUSD. This is higher than the industry average of 1 to 1.5 pips for a standard account.
The demo account is for practice trading and doesn't involve real money, so there are no spreads or commissions. It's a risk-free way for traders to learn and test strategies.
Traders should carefully consider their preferences and trading goals when choosing between these accounts.
How to Open an Account？
To open an account with CFForex, follow these steps.
Visit the CFForex website. Look for the “OPEN REAL ACCOUNT” button on the homepage and click on it.
2. Sign up on websites registration page.
3. Receive your personal account login from an automated email
4. Log in
5. Proceed to deposit funds to your account
6. Download the platform and start trading
Leverage
The maximum leverage is up to 1:200. CF Forex accepts deposits in Rupiah and USD.
Here is a comparison table of maximum leverage offered by different brokers:
Spreads and Commissions
CFForex's spreads and commissions play a significant role in determining the cost of trading on their platform. The spread is the difference between the buying (ask) price and selling (bid) price of a currency pair and is typically measured in pips. The spread represents the cost that traders incur when entering a trade.
Based on the information provided, when trading with a standard account on CFForex, the EURUSD spread fluctuates between 2.2 and 2.4 pips. In addition to the spread, there is also a commission fee of 30 USD applied for each standard lot traded. This commission fee effectively adds another 3 pips to the cost of trading a standard lot. Therefore, the total cost of trading the EURUSD with a standard account on CFForex is approximately 5.4 pips, which is notably higher than the industry average.
It's important for traders to be aware of these costs when considering CFForex as their trading platform. The total cost, including spreads and commissions, can have a significant impact on a trader's profitability. Traders should compare these costs with those of other brokers to determine the most cost-effective option that aligns with their trading strategy and goals.
Trading Platform Available
CF Forex provides clients with access to the worlds financial markets through the MetaTrader 4 (MT4) platform (Windows, iOS, Android) which is used by millions of traders around the globe.
Deposit & Withdraw Methods
CFForex offersBank Wire Transfer for depositing and withdrawing funds. allows traders to transfer funds directly from their bank accounts to their CFForex trading accounts. It's worth noting that bank wire transfers may take up to a maximum of 3 business days to process. When making a deposit through bank wire transfer, funds are directed to a segregated account at CFForex, as specified by Bappebti (Badan Pengawas Perdagangan Berjangka Komoditi), which is the Indonesian regulatory authority overseeing futures trading.
It's important for traders to be aware of the processing times associated with bank wire transfers, as they may impact the speed at which funds are available for trading or withdrawal. Additionally, traders should review the specific details and requirements for deposits and withdrawals provided by CFForex to ensure a smooth and secure financial transaction process.
Trading Hours
The trading times at CF Forex depend on specific markets. For example, the forex market is open almost 24 hours every weekday except Saturday and Sunday.
Customer Support
CFForex provides customer support services primarily in Indonesian. Traders can reach out for assistance through phone at +62 21 520 6118 and +62 21 522 1979. For written inquiries, they can use the email address support@cfforex.com, and for quick communication, there's WhatsApp at 0817 172 022. These contact options offer traders various ways to get the help they need.
Educational Resources
CFForex provides traders with a selection of educational resources to enhance their understanding of the financial markets. Among these resources are articles that cover various topics related to trading and market updates. Traders can access articles that offer insights and updates on specific markets, such as the Gold Market, Hang Seng Index (HSI), Dow Jones, and NASDAQ. These market updates provide valuable information on recent developments, trends, and factors impacting these markets, helping traders stay informed and make informed trading decisions.
These articles serve as a valuable source of market analysis and can assist traders in keeping abreast of current events and market dynamics. Staying informed about these key markets is essential for traders looking to develop effective trading strategies and manage their portfolios effectively. CFForex's commitment to providing such educational resources demonstrates their dedication to supporting traders in their journey to becoming more knowledgeable and skilled in the world of finance and trading.
Conclusion
In conclusion, CFForex offers a diverse range of tradable assets and provides traders with the user-friendly MetaTrader 4 platform for their convenience. The inclusion of educational resources also supports traders in staying informed about market developments. However, the lack of regulation is a significant disadvantage, raising concerns about fund safety and transparency. Additionally, the high total cost of trading, driven by a commission fee and spread, may deter some traders. Limited customer support accessibility for non-Indonesian speakers is another drawback, and the absence of specified bonus offerings may not appeal to those seeking promotional incentives. Traders considering CFForex should carefully evaluate these advantages and disadvantages to make informed decisions about their trading platform.
FAQs
Q: Is CFForex a regulated brokerage？
A: No, CFForex is not regulated by any recognized financial regulatory authority, which means it operates without oversight from regulatory bodies.
Q: What trading assets are available on CFForex？
A: CFForex offers a variety of trading instruments, including Forex, Gold, Index, OLEIN, and Physical Gold, providing options for portfolio diversification.
Q: What is the trading platform offered by CFForex？
A: CFForex provides access to the MetaTrader 4 (MT4) platform, which is available on Windows, Android, and iOS devices for convenient trading.
Q: What is the maximum leverage offered by CFForex？
A: CFForex provides a maximum leverage of up to 1:200, allowing traders to control larger positions in the market.
Q: How can I contact CFForex customer support？
A: You can reach CFForex customer support through phone (+62 21 520 6118), email (support@cfforex.com), and WhatsApp (0817 172 022).
