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). But 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 Sharia law. In order to help investors or practitioners have a more comprehensive understanding of foreign exchange dealers in Indonesia, the survey team is going to the country for on-site visits.

On-site visit

This time the survey team went to Indonesia to visit the foreign exchange dealer MRG as planned. The survey address is Senayan City, Panin Tower Lt. 22 Jl. Asia Afrika Lot 19.

The survey personnel came to the destination of the current survey according to the above address. The destination is located in the busy downtown area of Jakarta, Indonesia. The building, which is attached to a well-known boutique shopping mall, is strategically located and accessible by public transportation. The investigators saw the trader's water sign in the lobby.

Due to the epidemic, the survey personnel were not able to enter the company to take some pictures, but the dealer's office does exist.

Conclusion

The investigators went to Indonesia to visit the trader MRG as planned, and the trader's logo can be found on the publicly displayed business address, indicating that the trader has a real business venue. Unfortunately, the survey personnel were not able to enter the company for internal visit, so the specific scale of its exhibition business is unknown. Investors are requested to make a sensible choice after careful consideration.

Disclaimer

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