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FOREXimf

Indonesia|5-10 years| Benchmark C|
Regulated in Indonesia|Retail Forex License|MT4/5 White Label|

http://www.foreximf.com/

Website

Rating Index

Benchmark

Benchmark

C

Average transaction speed (ms)

262.6 Great

MT4/5

White Label

IntlMitraFutures-Demo

Indonesia
MT4
8

Influence

B

Influence index NO.1

Indonesia 8.03

Benchmark

Speed:AAA

Slippage:AA

Cost:D

Disconnected:D

Rollover:AA

MT4/5 Identification

MT4/5 Identification

White Label

8
Server Name
IntlMitraFutures-Demo MT4
Server Location Indonesia

Influence

Influence

B

Influence index NO.1

Indonesia 8.03

Surpassed 97.61% brokers

Biz AreaSearch StatisticsAdvertisingSocial Media Index

Contact

+62 022 - 426 6000
http://www.foreximf.com/
Menara Asia Afrika Lantai 12 Jl. Asia Afrika No.133 - 137, Bandung
https://www.facebook.com/forex.imf

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Contact number

Indonesian

+62 022 - 426 6000

Broker Information

More

Company Name

PT. International Mitra Futures

Company Abbreviation

FOREXimf

Platform registered country and region

Indonesia

Company website
Twitter
Facebook
Instagram
YouTube

Pyramid scheme complaint

Expose

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WikiFX Verification

FOREXimf · Benchmark
Average transaction speed(ms)
262.6 Great
The highest transaction speed(ms)
172 Good
The highest speed of opening positions(ms)
172 Good
The highest speed of closing position(ms)
0
The lowest speed of opening positions(ms)
453 Perfect
The lowest speed of closing position(ms)
0 Perfect
Ranking: 99 / 125
Test user 125
Orders 2,387
Ocuppied margin $323,994 USD
Data Source WikiFX Data provide
Updated: 2024-02-21 01:02:SS

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FOREXimf · Company Summary

Registered in Indonesia
Regulated by ICDX, BAPPEBTI
Year(s) of establishment 2-5 years
Trading instruments Forex pairs, commodities
Minimum Initial Deposit Rp 2,5 Juta/ Rp 20,000
Maximum Leverage 1:400
Minimum spread 0.2 pips onwards
Trading platform MT4
Deposit and withdrawal method Information not available
Customer Service Email, phone number, address, live chat
Fraud Complaints Exposure Yes

It is important to note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

In this review, if there is a conflict between the image and the text content, the text content should prevail. However, we recommend that you open the official website for further consultation.

Pros and cons of FOREXimf

Pros:

  • Offers a wide range of account types with varying spreads and commissions to suit different trading needs and budgets.

  • Provides a demo account for traders to practice and familiarize themselves with the platform.

  • Offers educational resources such as webinars, videos, and market reports to help traders improve their knowledge and skills.

  • Offers a high maximum leverage of up to 1:400 for the Lite account.

  • Provides multiple channels of customer support including live chat, email, and social media platforms.

Cons:

  • Limited information on the deposit and withdrawal process.

  • Limited trading instruments, with only forex pairs, precious metals, and energies available for trading.

  • Only regulated by Indonesian regulatory bodies, which may limit its appeal to international traders.

  • Limited options for customer support, with no phone support outside of business hours.

  • Lack of transparency on trading conditions, such as order execution speeds and slippage.

What type of broker is FOREXimf?

Advantages Disadvantages
FOREXimf offers tight spreads and fast execution due to its Market Making model. As a counterparty to its clients' trades, FOREXimf has a potential conflict of interest that may lead to decisions that are not in the best interest of its clients.

FOREXimf is a Market Making (MM) broker, which means that it acts as a counterparty to its clients in trading operations. That is, instead of connecting directly to the market, FOREXimf acts as an intermediary and takes the opposite position to its clients. As such, it can offer faster order execution speed, tighter spreads and greater flexibility in terms of the leverage offered. However, this also means that FOREXimf has a certain conflict of interest with their clients, as their profits come from the difference between the bid and ask price of assets, which could lead to them making decisions that are not necessarily in the best interests of their clients. It is important for traders to be aware of this dynamic when trading with FOREXimf or any other MM broker.

General information and regulation of FOREXimf

FOREXimf is an Indonesia-registered forex broker that is regulated by both the Indonesian Commodity and Derivatives Exchange (ICDX) and the Commodity Futures Trading Regulatory Agency (BAPPEBTI). The broker offers various trading instruments, including forex pairs, precious metals, and energies, with different account types and useful trading platforms. Additionally, the broker provides educational resources and customer support services, including a demo account, economic calendar, market reports, video tutorials, online courses, 24/7 live chat, and social media presence.

In the following article, we will analyse the characteristics of this broker in all its dimensions, providing you with easy and well-organised information. If you are interested, read on.

General information

Market instruments

Advantages Disadvantages
Diverse range of tradable instruments Limited asset classes compared to other brokers
Access to trading precious metals and energies No access to trading stocks, bonds or futures
High leverage available for forex trading Higher volatility and risk with precious metals and energies
Low spreads on major forex pairs Lack of diversity in commodity offerings may not suit some traders

Foreximf offers its clients a range of trading instruments consisting of forex pairs, precious metals, and energies. This provides traders with a diverse range of asset classes to trade on their platform. However, compared to other brokers, Foreximf's limited asset classes may not suit all traders. One of the advantages of trading with Foreximf is the high leverage available for forex trading, which can magnify profits. Additionally, the low spreads on major forex pairs can save traders on transaction costs. However, trading precious metals and energies may come with higher volatility and risk. Overall, the range of tradable instruments offered by Foreximf is suitable for traders who are primarily interested in trading forex and commodities.

market instruments

Spreads and commissions for trading with FOREXimf

Advantages Disadvantages
Competitive spreads and commissions Higher commission fees for Pro account
Variable spreads allow for greater flexibility in trading Higher spreads for Standard and Lite accounts
No hidden fees or charges Commission fees for Standard and Lite accounts can add up
Low minimum deposit requirements across all account types
Wide range of deposit and withdrawal methods

Lite account: spreads from 1.4 pips, commission of 5 USD

Standard account: spreads from 2.7 pips, commission of 1 USD

Pro account: spreads from 0.2 pips, commission of 10 USD

Overall, FOREXimf's spreads and commissions are competitive with other brokers in the market, and there are no hidden fees or charges. However, traders should be aware that the commission fees for Standard and Lite accounts can add up over time, and the higher commission fees for the Pro account may not be worth it for all traders.

account types

Trading accounts available in FOREXimf

Advantages Disadvantages
Multiple account types to choose from High minimum deposit of Rp 2,5 Juta
Demo account available
Competitive spreads and commissions

FOREXimf offers three different account types - Lite, Standard, and Pro.

The Lite account offers the highest spreads but also has the lowest commission fee, making it a good option for those who are just starting out in trading or have smaller budgets. The Standard account has a lower spread than the Lite account but a slightly higher commission fee, making it a good choice for those who want to trade more frequently. The Pro account has the lowest spreads but also has the highest commission fee, making it best suited for professional traders who trade in high volumes.

Overall, FOREXimf offers a range of account types to suit different trading needs and preferences.

account types

Trading platform(s) that FOREXimf offers

Advantages Disadvantages
User-friendly interface Limited number of technical indicators
Advanced charting tools No web-based platform
Support for automated trading Limited news and research tools
Multiple order types supported Limited customization options
Mobile trading platform available No support for hedging

Foreximf provides the MetaTrader 4 (MT4) trading platform, which is a popular choice among traders worldwide. The platform is known for its user-friendly interface, advanced charting tools, and support for automated trading through the use of expert advisors. Multiple order types are supported, including market orders, limit orders, and stop orders. Additionally, Foreximf offers a mobile trading platform for traders on-the-go. However, the platform has a limited number of technical indicators and customization options. There is also no support for hedging, and the platform is not available in a web-based version. News and research tools are also limited, which may be a disadvantage for some traders.

trading platform

Maximum leverage of FOREXimf

Advantages Disadvantages
Higher potential profits with lower initial investment Higher leverage can lead to higher risks and losses
Access to larger positions in the market Lack of understanding of leverage and risk management can lead to overtrading and significant losses
Allows for more flexible trading strategies Limited to certain regulatory restrictions and may not be available for all traders
Can be useful for experienced and knowledgeable traders Inexperienced traders may find leverage overwhelming and difficult to manage

FOREXimf offers a maximum leverage of up to 1:100 for standard and pro accounts and up to 1:400 for lite accounts. Leverage allows traders to open larger positions with smaller amounts of capital, potentially leading to higher profits. However, it is important to note that higher leverage also increases the potential risks and losses of trading. Traders should have a good understanding of leverage and proper risk management to make use of this feature effectively. Additionally, regulatory restrictions may limit the availability of leverage to certain traders.

maximum leverage

Deposit and Withdrawal: methods and fees

Advantages Disadvantages
No withdrawal fees Limited information available
Withdrawals processed within 24 hours Bank administration fees charged to clients
Automated deduction of bank fees Withdrawals only processed on business days

FOREXimf offers limited information on their website regarding deposits and withdrawals. Withdrawals can only be made on business days and any withdrawals above 12.00 WIB will be processed on the next business day. No fees are charged for withdrawals from FOREXimf activities, however, bank administration fees will be charged to the client. Funds received from the withdrawal process will be automatically deducted from the administration fee by the bank concerned. One advantage is that there are no withdrawal fees and withdrawals are processed within 24 hours. However, the lack of detailed information on the website may be a disadvantage for potential clients. Additionally, bank administration fees are charged to the client, which may add up to a significant amount depending on the amount being withdrawn. Finally, withdrawals are only processed on business days, which may delay the process for some clients.

deposit and withdrawal

Educational resources in FOREXimf

Advantages Disadvantages
Wide range of educational resources available No personalized coaching or mentoring
Free access to economic calendar, market reports, analysis, and news Some resources may be more basic and not suitable for advanced traders
Variety of formats, including video tutorials, eBooks, webinars, and online courses Overwhelming amount of information may be difficult for beginners to navigate
Regularly updated with fresh content Limited interactive features for hands-on learning
Includes glossary of trading terms and concepts No dedicated mobile app for accessing educational resources on-the-go

FOREXimf provides a robust collection of educational resources to assist traders at all levels in enhancing their knowledge and skills. The platform offers a diverse range of educational materials, including market reports, analysis, video tutorials, webinars, online courses, eBooks, and a glossary of trading terms and concepts. These resources are regularly updated with fresh content and are available to all users free of charge. While the vast amount of information may be overwhelming for beginners, the platform provides a comprehensive learning experience for those seeking to improve their trading abilities. However, FOREXimf does not offer personalized coaching or mentoring services, and there is no dedicated mobile app for accessing educational resources on-the-go.

educational resources

You may also see some educational videos on their official YouTube channel.

Customer service of FOREXimf

Advantages Disadvantages
Multiple channels of communication Limited phone support hours
24-hour online chat support No dedicated phone line for international customers
Active social media presence No information on response times
Email support available

FOREXimf offers a variety of customer care options, including phone, email, and 24-hour live online chat support. Additionally, the company has an active social media presence on various platforms such as TikTok, Facebook, Instagram, YouTube, and Twitter. While the phone support hours are limited to weekdays from 08:00-24:00 (WIB), the online chat support is available 24/7. However, there is no dedicated phone line for international customers, and no information on response times is available. Overall, FOREXimf seems to offer a decent level of customer care with multiple channels of communication and an active presence on social media.

customer support

Conclusion

Overall, FOREXimf appears to be a well-regulated forex broker that provides traders with a range of account types, trading instruments, and educational resources. The broker's focus on customer support and user-friendly trading platforms also adds to its appeal. However, the lack of transparency regarding deposit and withdrawal methods, as well as the absence of an extensive range of trading instruments, may be a disadvantage for some traders. In summary, FOREXimf may be a suitable choice for those looking for a regulated forex broker with a variety of account types, trading instruments, and educational resources, but potential users should weigh the pros and cons carefully before making a decision.

Frequently asked questions about FOREXimf

  • What is FOREXimf?

  • FOREXimf is a forex broker based in Indonesia that offers trading services in forex pairs, precious metals, and energies.

  • Is FOREXimf a regulated broker?

  • Yes, FOREXimf is a regulated broker by the Indonesia Commodity and Derivatives Exchange (ICDX) and the Commodity Futures Trading Regulatory Agency (BAPPEBTI).

  • What are the account types offered by FOREXimf?

  • FOREXimf offers three account types: Lite, Standard, and Pro, with different spreads, commissions, and minimum deposits.

  • What is the maximum leverage offered by FOREXimf?

  • The maximum leverage offered by FOREXimf is up to 1:100 for Standard and Pro accounts, and up to 1:400 for the Lite account.

  • What trading platform does FOREXimf use?

  • FOREXimf uses the popular MetaTrader 4 (MT4) platform for trading.

  • Are there educational resources available for traders at FOREXimf?

  • Yes, FOREXimf provides a variety of educational resources, such as economic calendars, market reports, video tutorials, webinars, news, and analysis, to help traders improve their skills.

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User Reviews

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User comment

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Comments

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akhirmali
3-6months
When I first entered the world of trading, I used ForexIMF because I was lured by a VIP group that could be there indefinitely. However, it turned out that after I MCed and had not been actively trading for 2 months, a new rule was made that those who had never traded would be kicked from the VIP telegram group. in short, this broker is wishy-washy in reality, its promotions do not match the actual situation.
2023-09-26 00:49
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0
0
Enny3552
more than one year
Nice broker with outstanding service. They provide a telegram forum group where we can share our opinion about the market with other traders and analysts. They also run a YouTube channel with so many trading tips. What's best for me is they have Live analysis twice a day at Asia and US market session, sharing plenty of trading setups with amazing results.
2023-02-17 15:12
Reply
0
0
Toro1543
more than one year
So far foreximf is the ideal broker for me, the indicators and signals they provide can make my trading easier. What's more, the VIP group provided is quite exciting, you can have discussions between members and ask questions to those who are more expert. Foreximf is fun.
2023-02-17 12:50
Reply
0
0
Erwin1157
more than one year
FOREXimf is a good broker. Many taught me who was still a beginner. The live analysis and trading signals that are presented really help me trade.
2023-02-17 12:29
Reply
0
0
FX1038470953
more than one year
I tried several times with a demo account at FOREXimf and gave up because I didn't think the transaction cost was very friendly. On the one hand, I have to pay a fixed commission, on the other hand, the spread is not very low.
2022-11-24 14:31
Reply
0
0
FX1023795160
more than one year
Trading with this broker requires an initial deposit of $250 on its most basic account, a high amount compared with many other brokers… the broker provides the industry leading MT4, high leverage up to 1:400. However, for your safety of funds, you’d better open a demo account to test its real trading environment first…
2022-11-21 14:21
Reply
0
0
虎背熊腰
more than one year
If you want to trade with FOREXimf, you will have to give them at least 1,000 dollars! and then you can get EUR/USD spreads from 2.8 pips...nothing is attractive for me.....
2022-11-17 14:27
Reply
0
0
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