WikiFX Review: Why does Soegee Futures catch many traders’ attention recently?

In this article

WikiFX provides inquiry services in the forex field.

WikiFX evaluates the reliability of Soegee Futures based on the facts.

What is WikiFX？

Table of Contents

1. Evaluate the reliability of Soegee Futures based on its general information and regulatory status.

A. General Information of Soegee Futures

B. Regulatory Status

2. Soegee Futures on Twitter

3. Exposure related to Soegee Futures on WikiFX

4. Special survey about Soegee Futures from WikiFX

A. Scoring Criteria

B. Field Investigation

5. Conclusion

1. Evaluate the reliability of Soegee Futures based on its general information and regulatory status

To understand Soegee Futures better, we explore Soegee Futures by analyzing three main perspectives:

A. General Info of Soegee Futures

B. Regulatory Status

A. General Info of Soegee Futures

Soegee Futures general info has been shown below:

(source: WikiFX)

About Soegee Futures

Soegee Futures is an online forex broker offering 6 different asset classes including 130+ instruments in the financial markets. Traders can trade forex pairs, precious metals, indices, US, EU, HK, single stocks CFD, JFX commodity futures, and more. Founded in 2000, Soegee Futures is an Indonesia-based broker. According to its website, it claimed to be leading Indonesia s best forex specialist.

Account Types

There are two live trading accounts offered by Soegee Futures, namely 101-Trader and Pro-Trader. Opening a Pro-Trader account requires a minimum initial deposit amount of $1,000, while the other 101-Trader account with a higher initial capital requirement of more than $1,000.

Leverage

Traders holding different account types can experience quite different maximum leverage ratios. Clients on the 101-Trader account can enjoy leverage as high as 1:100, while the Pro-Trader account with leverage as high as 1:200. Bear in mind that leverage can magnify gains as well as losses, inexperienced traders are not advised to use too high leverage.

Spreads & Commissions

Spreads and commissions are influenced by what type of accounts traders are holding. Soegee Futures reveals that traders on the 101-Trader account can enjoy variable spreads for forex as low as 0.00001 pips, for gold from 0.01 pips with a minimum commission of $100 monthly. While traders on the Pro-Trader account can experience variable spreads for forex as low as 0.0001 pips, for gold from 0.1 pips with no minimum monthly commission.

Trading Platform

Soegee Futures uses the MT4 platform as its main trading platform.

Deposit & Withdrawal

Soegee Futures didnt directly reveal any deposit or withdrawal methods on its official site. From the interface of FAQs, we found that the broker claimed that the clients can withdraw their funds easily every Indonesia business day. The only they need to do is just inform the broker before 11 a.m. and it will bank transfer the number of funds as requested on the same day.

Customer Support

Soegee Futures customer support can be reached through telephone: +62213911085, Customer Service: +62213911138, WA: +62 81212345962, Dealing Room: +62213911101, email: cs@soegeefutures.com, live chat or fill in contact forms online to get in touch. Besides, you can also follow this broker on some social media platforms like Facebook, Twitter, and Instagram. Company address: Graha Selaras Jl. KH Mas Mansyur No. 59, Kebon Melati–Tanah Abang, Jakarta Pusat 10230, Indonesia.

(Source: WikIFX)

B. Regulatory Status

What is a Legitimate License？

• The legitimate license is the business license issued by the financial regulatory institution of each country/region.

• Holding a license means that the broker is recognized and regulated by the regulatory authority, therefore your money is under the protection to some extent.

• Whether a forex brokerage firm holds a legitimate license or not is one of the important factors to evaluate the reliability of forex brokers.

• The content of the regulation and the difficulty of obtaining a license vary with the country and agency issuing the license.

Is Soegee Futures legit？

Soegee Future was regulated by the Badan Pengawas Perdagangan Berjangka Komoditi Kementerian Perdagangan(BAPPEBTI), an Indonesia regulator with license number: 42/BAPPEBTI/SI/XII/2000. Therefore, we consider Soegee Futures as a regulated broker.

(source: WikiFX）

2. Soegee Futures on Twitter

Soegee Futures does have an official account on Twitter. It has about 812 followers.

(Source: Twitter)

3. Exposure related to Soegee Futures on WikiFX

On WikiFX, the Exposure consists of feedback from traders. A bad track record of brokers can be checked via Exposure. WikiFXs Exposure function helps you get feedback from other traders and remind you of the risks before it starts.

As of July 11, 2022, WikiFX did not receive any complaints against this broker.

4. Special survey about Soegee Futures from WikiFX

A. Scoring Criteria

WikiFX gives brokers a score from 0 to 10. The higher the score is, the more reliable the broker is.

If you switch country to Indonesia, Soegee Futures has been given by WikiFX a decent rating of 8.09/10.

(Note: Because different regions or countries have different levels of regulatory strictness, the score of the same broker might be slightly varied in other regions or countries. For details, please consult WikiFX customer service.)

(source: WikiFX)

B. Field Investigation

• To help you fully understand the broker, WikiFX also investigates the brokers by sending surveyors to the brokers physical addresses.

• On WikiFX, you can visually check the physical addresses of brokers by pressing the “Survey” button.

• WikiFX did make an on-site survey on Soegee Futures in 2021 and successfully found their office.

The survey team of WikiFX has successfully found the physical address of this broker. We can confirm that the logo of Soegee Futures was found in the building, and the office was also found. However, due to the epidemic, the survey team was not allowed to get inside and take pictures. Thus, we cannot determine the scale of office operations.

(source: WikiFX)

5. Conclusion:

Soegee Futures is a regulated broker in Indonesia. This means it is less likely to take clients' money away fraudulently. However, we don't advise you to do business with this broker as there are a lot of better alternatives in the forex market. If you want to know more information about the reliability of certain brokers, you can open our website (https://www.WikiFX.com/en). Or you can download the WikiFX APP to find the most trusted broker for yourself.

Click on SoegeeFutures' WikiFX page for details