Is Forex Trading Legal in Indonesia?
We’ve got to admit that finding out about Forex trading in Indonesia hasn’t been easy. As with a number of other emerging Forex trading countries the legality of Forex trading can be very confusing. The most recent article we managed to find says that it is legal, but the country’s bank has recently introduced new regulations regarding the conducting of hedging activities such as Foreign Exchange, by Islamic banks. We think it safe to say that Forex trading in Indonesia is still quite a new thing, and rules and regulations are changing, even as we write this. Keep us as one of your favorites and we’ll endeavor to keep you informed of the latest news.
So, you know that it’s OK to trade on the Forex trading market in Indonesia, but you’re wondering whether we’ve got any advice. Keep reading and we’ll pass on some golden nuggets of information.
Indonesia is the biggest and most populated island in the world with a population of 264.2 million spanning more than 15000 islands. Among them, Java is known to be the most populated one. Over the years, the country has been considered one of the fastest-growing and has abundant natural resources that help keep its economy afloat.
Due to this rapid growth, Indonesia is now an attractive spot for foreign exchange companies worldwide. The population structure of the country further enhances this appeal. According to 2016 estimates, interested young Indonesian residents over the age of 28 created a completely prosperous environment for the Forex market to gain financial independence and profit opportunities. Check below the best forex broker list for Indonesia.
Forex Regulations in Indonesia
Trading forex (currencies) in Indonesia is popular among residents. While recommended, forex brokers are not required to become authorized by the Financial Services Authority of Indonesia to accept residents of Indonesia as customers. The Indonesian translation of FSA is Otoritas Jasa Keuangan or OJK.
Forex Signals Provider in Indonesia
Telegram has some useful signal providers. But you have to be careful, if you are a beginner, you will find it hard to recognize who’s professional and who isn’t.
That is such an important point to understand, because it’s obvious, if you follow unprofessional signal providers, you get unprofessional trades.
If you follow experience and professional signal providers you get the right trades.
Anyway, I’m listing best good valuable Telegram channels that you can follow for signals, insights, and education.
You get some good valuable macro and price action trades, well explained and well detailed so that you can also learn from them. They analyze each and every market moment to bring the best consultation service for you. They provide services for educational and training purposes.
ULTREOS FOREX BEST FOREX SIGNALS IN TELEGRAM
ULTREOS FOREX is one of the best consultant firms, who provide quality consultation in various markets in the form of research, analysis and signals.
They analyze each and every market moment to bring the best consultation service for you. They provide services for educational and training purposes.
It is the leading provider of real-time market news, market analysis, trade ideas and Forex signals For Forex Trading. On average 91.2% of his Forex signals make profit.
Every Week he sends his members over 7+ profitable forex signals through telegram with an average of 200–300+ pips per week. Their forex signals and technical analysis are based on deep research On Price Action Analysis, Impulse and Correction related strategy, Elliot wave, Classic Patterns, Advanced Patterns or any other like Candle Stick Patterns. It can be a truly great solution for beginners.
Evaluation criteria for signal providers in social trading:
- Account existence time. Preferably, the account must exist for at least a year. Statistics on the account should be objective. Look through the trader’s accounts archive and analyze the reasons for closing them.
- Trading Statistics. The smoothness of the ascending movement of equity, the maximum drawdown, the number of losing and profitable transactions in a series, and the ratio of profitable and losing trades.
- Profitability. High profitability demonstrates that the trader uses high-risk strategies or assets such as Martingale, pyramiding, or cryptocurrencies. As far as the risk is justified, it’s up to you to decide.
- The number of subscribers. The more, the better.
You can connect your account to several traders or open several accounts with a connection to strategies with different risk levels.
Signals you should avoid using:
- Signals for which the provider promises 80-90% results.
- In Forex, no one can guarantee results. If a provider says 80% of signals are guaranteed to work, they lie or rely on statistics.
A broker can share signals as part of a loyalty program, but they are also interested in “plummeting” your deposit if it belongs to the “Kitchen” category. However, there are exceptions. For example, one well-known social trading service reports that all signals are free for investors – there is no fixed fee or manager’s fee. Everything is already included in the spread. There is only one condition: work with brokers and service partners.
Some helpful tips you can make use of:
- Tip 1. Be skeptical of Forex signals, which require a monthly fee. In most cases, the provider is not interested in their profitability. Instead of generating profitable signals, it’s more profitable for the provider to attract new customers through an aggressive marketing campaign.
- Tip 2. Double-check the signals by working with intervals of H1 or higher. At this interval, one candle corresponds to an hour, giving you enough time to assess the fundamental factors and read analytics.
- Tip 3. It will help to communicate with the Signals Provider and ask them questions. Ask them why they made such a decision. If, for example, the social trading service doesn’t provide a live link to the trader, don’t risk your money.