Reason for this visit

Bank Indonesia (the Central Bank of Indonesia) is mandated to establish and maintain the stability of the Rupiah, while the Commodity Futures Trading Regulatory Agency (BAPPEBTI), which operates under direct supervision of the Ministry of Finance, regulates all entities operating in Indonesia‘s financial markets, including forex and CFD brokers. In 2013, the Indonesian government began a strict crackdown on numerous fraudulent brokers targeting Indonesian citizens. This, however, led to many overseas brokers closing their websites in the country. Subsequently, the Indonesian government decided to reopen access to overseas brokers on the condition that they establish local offices and comply with BAPPEBTI guidelines (where applicable). However, these conditions proved to be temporary, and currently Indonesian investors are free to choose any international broker. With a population of nearly 270 million, Indonesia is the world’s largest Muslim country. Therefore, all forex brokers in the Indonesian market offer Sharia-compliant Islamic trading accounts. To help investors and practitioners better understand the countrys forex brokers, WikiFX survey team plans to conduct on-site visits to the local companies.

On-site visit

In this issue, the survey team went to Indonesia to visit forex broker PT. Mentari Mulia Berjangka as planned according to its regulatory address that Graha Aktiva, Lt. 6, Suite 601, Jl. HR. Rasuna Said Blok X-1 Kav. 03 Kuningan Timur, Setia Budi, Jakarta Selatan.

A seasoned and professional inspection team, committed to safeguarding investor interests, conducted a meticulously planned on-site verification of the forex broker PT. Mentari Mulia Berjangka at Graha Aktiva in Kuningan Timur, Jakarta Selatan.

The target office building is located in Jakarta‘s central business district, with complete surrounding amenities and convenient transportation. Upon arriving at the site, the investigators found the building’s exterior well-maintained.

Subsequently, the survey team easily entered the building lobby and confirmed the presence of floor directory signs inside. Broker identifiers were only visible within the building, consistent with the typical layout of mid-to-high-end office buildings.

To gain a more comprehensive understanding, the team proceeded to the 6th floor of the building. Upon arriving at Room 601, they could see PT. Mentari Mulia Berjangkas name and other information, indicating it was not a shared office space. However, they were denied access to the working area. As a result, they failed to observe the office layout or workstations, and could not verify the number of rooms or seating capacity.

Through the on-site investigation, it is confirmed that the broker maintains a physical presence at the location.

Conclusion

The survey team went to Indonesia to visit forex broker PT. Mentari Mulia Berjangka as scheduled and found the company at the regulatory address. It indicates that the broker has a physical office at the place. Meanwhile, investors are advised to make a judicious decision following much deliberation.

Disclaimer

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