Reason for this visit

While BANK INDONESIA (Indonesia's central bank) aims to keep the rupiah stable, BAPPEBTI governs all entities operating on the Indonesian financial market, including forex and CFD brokers, and the agency is directly overseen by the Ministry of Finance. In 2013, the Indonesian government began cracking down on a large number of fraudulent brokers targeting Indonesian citizens, causing overseas brokers operating in the country to shut down their websites. Later, the Indonesian government decided to open it up again to overseas brokers on the condition that they set up an office in the country and follow the guidelines of BAPPEBTI (if any). However, these conditions turned out to be short-lived as currently Indonesian investors are free to choose any international broker. With a population of nearly 270 million, Indonesia is the largest Muslim country in the world, and all forex brokers in the Indonesian market offer Islamic trading accounts that are compatible with the Sharia Law. In order to help investors or practitioners get a more comprehensive understanding of foreign exchange dealers in Indonesia, the survey team is going to the country for field visits.

On-site visit

This time the survey team visited the dealer maxco in Indonesia, with the specific address at Gd. Panin Bank Pusat Lantai Dasar, Jl. Jend. Sudirman Kav. 1, Bundaran Senayan, Jakarta 10270.

Based on the above address, the survey team came to the destination of this survey, which was located in the central area of Jakarta, Indonesia. The building looked old from the 1970s, but it was in a good location. Entering the building, the surveyors saw the nameplate of maxco in the lobby.

Then, the surveyors found maxco's office, with their logo on the background wall of the reception desk. The receptionist warmly received the surveyors and led them into the interior. According to her, most of the employees were currently working from home because of the epidemic. And the dealer had a total of 5 offices and more than 100 people work here.

Conclusion

The survey team went to Indonesia, to visit the dealer maxco as planned, and found the physical address of it was the same as the regulatory address. The office space was nicely decorated with a large office space. Visually, there were about 100 workplaces. Investors can make their choice after a comprehensive consideration.

Disclaimer

The content is for informational purpose only, and shall not be taken as final order for making choice.