FOREXimf -Overview Guide of This Broker

General Information & Regulation

FOREXimf is a trading broker that operates from Bandung, Indonesia. FOREXimf or PT. International Mitra Futures is a futures brokerage company in Indonesia, which is officially regulated as a Futures Broker from the Commodity Futures Trading Regulatory Agency (BAPPEBTI), with regulatory license number 736/BAPPEBTI/SI/6/2005; FOREXimf.com is also a member of the Jakarta Futures Exchange (JFX) or the Jakarta Futures Exchange (JFX) and a member of the Indonesia Commodity and Derivatives Exchange (ICDX).

Market Instruments

FOREXimf offers investors a limited range and number of financial instruments, including only 17 foreign exchange currency pairs, as well as precious metals and crude oil.

Account Types

Three types of trading accounts are available with the FOREXimf platform, including Lite Account, Standard Account, Pro Account. The minimum deposit to open a basic account, A Little account, starts from $250. The Standard account and the Pro account asks for an initial deposit of $500, $1,000, respectively.

Leverage

The maximum trading leverage available on this FOREXimf platform is up to 1:400, which is considered high. New beginners are advised to stay from high trading leverage.

Spreads & Commissions

Spreads and commissions vary depending on trading accounts. The minimum spread offered by the Lite Account starts at 1.4 pips, with an additional commission of $5 per lot charged. The commission charged by the Standard account is only $1 er lot, accompanied by relatively wide spreads, starting at 2.7 pips. The Pro account offers spreads from 0.2 pips, with a commission of $10 per lot charged.

Swap Fees

For other types of accounts, Swaps are charged on forex and precious metals (gold and silver). Swaps depends on the product being traded, but specially for Crude Oil (CLSK), no swap fees charged.

For Wednesday, Interest Rate calculation will be charged 3 days and for Monday, Tuesday, Thursday and Friday will be charged 1 day each.

Trading Platforms

FOREXimf supports the MetaTrader4 platform. Most traders are familiar with MT4 and like its user-friendly interface, stable and reliable performance, and many other professional features. MT4 includes more than 50 built-in indicators for market analysis, excellent charting tools, and the option to trade algorithmically with EA trading, and traders can create their own trading strategies using the appropriate MQL4 language (e.g., with some coding skills).

Deposit & Withdrawal

FOREXimf accepts bank transfers for account deposits and withdrawals. Popular payment methods like Neteller, Skrill are missing.

Customer Support

FOREXimf provides traders with a responsive client support team, who are available 24/7 and can be reached via the following contact channels: telephone, fax, and social media.

Pros & Cons

Frequently Asked Questions

Is FOREXimf regulated？

Yes, FOREXimf is officially regulated as a Futures Broker from the Commodity Futures Trading Regulatory Agency (BAPPEBTI), with regulatory license number 736/BAPPEBTI/SI/6/2005.

Does FOREXimf offer leverage ？

FOREXimf offers leveraage up to 1:400.

What trading platform does FOREXimf provide ？

FOREXimf provvides its clients with the industry leading MT4 trading platform.

What spreads does FOREXimf offer ？

Lite Account: spreads from 1.4 pips

Standard Account: spreads from 2.7 pips

Pro Account: spread start from 0.2 pips

What is the minimum deposit for trading？

Minimum initial depposit is $250 for Lite Account.