General Information
PT Trijaya Pratama Futures was established in Medan (Indonesia) in April 2004 as a member brokerage company of the futures exchange. In May of the same year, the company was officially registered as a member of the Jakarta Futures Exchange (JFX). In addition, TPF holds a license from the Indonesian Commodity Futures Trading Regulatory Agency (BAPPEBTI), Licence No. 407/BAPPEBTI/SI/VII/2004.
The company's trading platform of choice is MetaTrader 4 (MT4), which is widely recognized and used by traders worldwide. TPFX offers competitive spreads, starting from 0 pips, and charges a commission of $1 - $5 per trade, depending on the account type. They provide leverage of up to 1:400, allowing traders to control larger positions with a smaller initial investment.
TPFX is dedicated to providing excellent customer service and offers various channels for clients to reach out for support, including messaging, live chat, email, phone, and an office address. They also provide educational resources such as educational modules, webinars, e-books, and a NewsFlash service to help traders expand their knowledge and improve their trading skills.
Overall, TPFX is a regulated brokerage company in Indonesia that offers a range of trading assets, competitive spreads, and multiple account types to cater to traders' needs. With their commitment to customer service and educational resources, they aim to provide a comprehensive trading experience for their clients.
Is TPFX Legit？
TPFX is a regulated trading company supervised by Badan Pengawas Perdagangan Berjangka Komoditi (BAPPEBTI), under the Ministry of Trade in Indonesia. The current status of the company is regulated, and it holds license number 407/BAPPEBTI/SI/VII/2004.
Pros and Cons
TPFX has advantages such as being regulated by BAPPEBTI, offering diverse trading assets, multiple account types, competitive spreads, and educational resources. However, there are drawbacks such as the absence of a specified minimum deposit, limited deposit methods, and commission charges. Traders should consider these factors based on their individual needs and preferences.
Market Instruments
TPF mainly provides investors with domestic and international trading in commodity and derivative futures covering Forex, crude oil, indices and stocks.
TPFX provides access to a variety of forex trading products, including major currency pairs such as EURUSD (Euro/US Dollar), USDJPY (US Dollar/Japanese Yen), and GBPUSD (British Pound/US Dollar).
Commodities:
TPFX offers commodities trading, allowing traders to buy and sell physical or derivative contracts of various commodities. Some examples of commodities available for trading are gold (XAUUSD), silver (XAGUSD), and crude oil (CLSK).
Index Stocks:
TPFX provides trading options in index stocks, which are derivatives based on major stock market indices. Traders can participate in the price movements of indices such as NASDAQ, Dow Jones Industrial Average (DJIA), S&P 500, Hang Seng, and Nikkei 225.
CFD Single Stocks:
TPFX offers trading in Contracts for Difference (CFDs) of individual stocks. CFDs allow investors to speculate on the price difference between buying and selling single stocks without owning the underlying asset. TPFX provides access to a range of well-known US single stocks, including Apple Inc. (AAPL), Amazon.com Inc. (AMZN), Microsoft Corporation (MSFT), and more.
Here is a comparison table of trading instruments offered by different brokers:
Account Types
TPFX offers a range of account types to cater to different trading preferences and strategies. Here is a brief description of each account type:
1. STANDARD (VARIABLE): This account type features a floating spread starting from 1.2 pips and a commission of $1 per trade. Traders can enjoy leverage of up to 1:400, allowing them to control larger positions with a smaller initial investment. The account also offers swap-free trading for those who prefer to avoid overnight interest charges. The stop out level is set at approximately 10%, which helps protect traders from excessive losses.
2. PROFESSIONAL (VARIABLE): The Professional account offers a lower floating spread starting from 0.4 pips, making it suitable for traders who require tighter spreads. The commission for this account is $2 per trade. Like the Standard account, it provides leverage of up to 1:400 and swap-free trading. The stop out level remains at around 10%.
3. ZERO ECN (VARIABLE): The Zero ECN account is designed for traders who prioritize raw spreads and direct market access. It offers a starting spread from 0 pips, although a commission of $5 per trade is charged. With this account, traders can take advantage of the tightest possible spreads, ideal for scalping and high-frequency trading strategies. Leverage of up to 1:400 is available, along with swap-free trading and the same stop out level.
4. STANDARD (FIX-VARIABLE): This account type combines fixed and floating spreads, with a fixed floating spread of 1.5 pips. The commission for this account is $2 per trade. Traders can still enjoy leverage of up to 1:400, swap-free trading, and a stop out level of approximately 10%.
5. PROFESSIONAL (FIX-VARIABLE): The Professional account with a fixed-floating spread offers a tighter fixed spread starting from 0.8 pips. The commission is set at $1 per trade. This account type suits traders who prefer the stability of a fixed spread combined with competitive trading conditions. Leverage up to 1:400, swap-free trading, and the same stop out level are provided.
These different account types allow traders to choose the one that best aligns with their trading style, risk tolerance, and specific requirements. By offering a range of account options, TPFX aims to accommodate the diverse needs of traders and provide them with a personalized trading experience.
How to Open an Account？
To open an account on TPFX, follow these steps:
Visit the TPFX website: Start by visiting the TPFX website and locate the “Sign Up” button on the homepage. Click on it to proceed to the registration page.
Sign up on the registration page: Fill in the required information on the registration page, such as your personal details and contact information. Complete the sign-up process as instructed.
Receive your account login: After successfully signing up, you will receive a personal account login from TPFX via an automated email. Keep this login information safe as you will need it to access your account.
Log in to your account: Use the provided login credentials to access your TPFX account.
Deposit funds: Once logged in, proceed to deposit funds into your TPFX account. Select the preferred deposit method from the available options and follow the provided instructions to complete the deposit process.
Download the trading platform: Look for the download link on the TPFX website and click on it to download the trading platform. Follow the instructions provided to install the platform on your device.
Start trading: After successfully installing the trading platform, you can start trading on TPFX. Familiarize yourself with the platform's features and tools, explore the available trading assets, and execute trades based on your trading strategy.
Remember to practice responsible trading, manage your risks effectively, and stay informed about market trends and news to make informed trading decisions.
Leverage
TPFX offers two leverage options: 1:400 and 1:100. These leverage ratios determine the amount of trading position a trader can control in relation to their margin. The higher the leverage ratio, the greater the potential for amplified profits or losses. Traders should be aware that while leverage can enhance potential returns, it also carries increased risk. It is important for traders to understand the implications of leverage and to use it judiciously based on their risk tolerance and trading strategy.
Here is a comparison table of maximum leverage offered by different brokers:
Spreads & Commissions
TPFX offers a variety of spreads and commissions to meet the needs of different traders. The spreads and commissions vary depending on the chosen account type. Here's a brief overview of the spreads and commissions offered by TPFX:
1. STANDARD (VARIABLE):
- Floating spreads start from 1.2 pips.
- A commission of $1 per trade is charged.
2. PROFESSIONAL (VARIABLE):
- Floating spreads start from 0.4 pips.
- A commission of $2 per trade is charged.
3. ZERO ECN (VARIABLE):
- Floating spreads start from 0 pips.
- A commission of $5 per trade is charged.
4. STANDARD (FIX-VARIABLE):
- The spreads are fixed with a floating component and start from 1.5 pips.
- A commission of $2 per trade is charged.
5. PROFESSIONAL (FIX-VARIABLE):
- The spreads are fixed with a floating component and start from 0.8 pips.
- A commission of $1 per trade is charged.
The spreads represent the difference between the bid (sell) and ask (buy) prices in the market. They can vary depending on the currency pair or financial instrument being traded. Lower spreads generally indicate tighter pricing and potentially lower trading costs.
Commissions are additional charges imposed by the broker for executing trades. They are separate from spreads and are usually based on a fixed amount per trade. The commission charges contribute to the broker's revenue and can vary depending on the account type chosen.
It's important for traders to consider spreads and commissions when evaluating the overall trading costs and selecting an account type that aligns with their trading strategies and preferences.
Non-Trading Fees
TPFX offers a unique feature of “Tanpa Biaya Swap,” which means no swap fees. Swap fees, also known as overnight financing charges, are fees incurred when holding positions overnight.
However, it's important for traders to note that other non-trading fees may still apply, such as deposit and withdrawal fees, currency conversion fees, and inactivity fees. It is recommended for traders to familiarize themselves with TPFX's fee structure and terms and conditions to have a comprehensive understanding of the non-trading fees involved. By doing so, traders can make well-informed decisions and optimize their trading strategies while minimizing costs.
Deposit & Withdraw Methods
TPFX provides convenient and efficient deposit and withdrawal methods to cater to the needs of its traders. Here's a brief overview of the deposit and withdrawal processes at TPFX:
Deposit:
- The maximum time for a deposit to be credited to the client's trading account is 30 minutes.
- If a deposit request is made before 10:00 PM WIB, it will be processed on the same day. Requests made after 10:00 PM WIB will be processed on the following day.
- TPFX utilizes Bank BCA for the deposit process.
- Once the funds have been transferred to TPFX's Segregated Account, they will be credited to the client's trading account within a maximum of 30 minutes after the deposit.
Withdraw:
- The maximum withdrawal process is carried out until 11:00 AM Western Indonesian Time (WIB), and the funds will be credited to the client's bank account by a maximum of 6:00 PM WIB.
- If a withdrawal request is made before 11:00 AM WIB, the funds will be processed on the same day. Requests made after 11:00 AM WIB will be processed on the following day.
- Withdrawals are processed through TPFX's separate BCA (Bank Central Asia) account and can be disbursed to all local bank accounts.
- The funds that have been processed for withdrawal will undergo the clearing process and will be credited on the same day.
It's important to note that deposit and withdrawal processing times may vary depending on factors such as bank processing times and any unforeseen circumstances. Traders are advised to consult TPFX's official website or contact their customer support for more detailed information on the deposit and withdrawal methods and any associated terms and conditions.
Tradinng Platform
TPF offers its clients access to the world's financial markets via the MetaTrader 4 (MT4) platform. MT4 is widely considered to be the most popular online Forex and CFD trading platform for traders of all experience levels. MT4 can be used as a web platform on any browser, as well as a desktop download and mobile application.
Customer Support
Clients can contact the TPF support team for inquiries via live chat, email, and phone. In addition to the head office in Jakarta, TPF also has branches covering other regions such as Medan, Makassar and Batam. It should be noted that the dealer's business radiates mainly to Indonesia and therefore the language of its website is only a single Bahasa Indonesia.
Educational Resources and Community Support
TPFX offers educational resources and community support to assist traders in their journey in the financial markets.
The platform provides educational modules suitable for traders of different levels. These modules cover various trading topics and strategies, allowing traders to expand their knowledge and improve their trading skills.
Webinars are available to provide valuable insights and knowledge from industry experts. Traders can participate in these web-based seminars to stay updated with market trends and learn new trading techniques.
TPFX offers e-books that serve as comprehensive guides for traders. These resources cover a wide range of trading subjects, including market analysis, risk management, and technical analysis. Traders can access these e-books to deepen their understanding and enhance their trading strategies.
To keep traders informed, TPFX provides a NewsFlash service that delivers real-time economic news and market analysis. This feature helps traders stay updated on important events and make informed trading decisions based on the latest information.
By offering educational resources and community support, TPFX aims to empower traders and provide them with the tools they need to succeed in the financial markets.
Trading Tools
TPFX provides trading tools to support traders in their decision-making process and keeping up with market developments. One of these tools is Economic Insight, which offers research and analysis based on economic indicators. Traders can gain valuable insights into how economic factors impact financial instruments, helping them anticipate market movements and adjust their strategies accordingly.
Another tool offered by TPFX is the News Feed, which provides real-time news updates and market analysis from Trading Central. This feature keeps traders informed about important news events that may influence the financial markets. By utilizing the News Feed, traders can stay updated on market trends and make more informed trading decisions.
These trading tools aim to provide traders with valuable information to enhance their trading strategies. However, it is important to note that while these tools can be useful, they do not guarantee profitable trades. Traders should conduct their own analysis, exercise caution, and consider multiple factors before making trading decisions.
Conclusion
In conclusion, TPFX is a regulated brokerage company in Indonesia that offers a range of trading assets and account types to cater to traders' needs. They provide competitive spreads, multiple account types, and leverage of up to 1:400. TPFX is regulated by BAPPEBTI, ensuring a level of credibility and trust. They offer educational resources to help traders expand their knowledge and improve their trading skills. However, there are some disadvantages to consider, such as the lack of specified minimum deposit, limited deposit methods, and commission charges. Traders should evaluate these factors based on their individual preferences and requirements before choosing TPFX as their broker.
FAQs
Q: Is TPFX a legitimate trading company？
A: Yes, TPFX is a regulated trading company supervised by Badan Pengawas Perdagangan Berjangka Komoditi (BAPPEBTI), under the Ministry of Trade in Indonesia. It holds license number 407/BAPPEBTI/SI/VII/2004.
Q: What trading instruments are available on TPFX？
A: TPFX offers a variety of trading instruments, including Forex, Commodities, Oil, Index Stocks, and CFD Single Stocks.
Q: What account types does TPFX offer？
A: TPFX offers multiple account types to cater to different trading preferences and strategies, such as Standard (Variable), Professional (Variable), Zero ECN (Variable), Standard (Fix-Variable), and Professional (Fix-Variable).
Q: What leverage does TPFX offer？
A: TPFX offers leverage options of up to 1:400.
Q: What are the spreads and commissions on TPFX？
A: The spreads and commissions on TPFX vary depending on the chosen account type. The spreads start from 0 pips, and the commissions range from $1 to $5 per trade.
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