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 ORBI TRADE FUTURES as planned according to its regulatory address that Jl. Arteri Klp. Gading No.E1/10, RT.5/RW.2, Pegangsaan Dua, Kec. Klp. Gading, Kota Jkt Utara, Daerah Khusus Ibukota Jakarta 14250.

A seasoned and professional inspection team, committed to safeguarding investor interests, conducted a meticulously planned on-site verification of the forex broker ORBI TRADE FUTURES on Jl. Arteri Klp. Gading in Kota Jkt Utara of Jakarta, Indonesia.

The target address is located in a street-facing commercial property or mini-complex, surrounded by a residential area. The investigators attempted to enter the building for further inspection. However, the main entrance was locked, preventing direct access to the lobby. Despite being unable to enter the lobby, they observed an interior floor directory, which confirmed that the office of ORBI TRADE FUTURES is located in Unit E1 of the building.

The survey team then proceeded to locate the entrance of Unit E1, where the company name and other details of the broker were clearly visible. Unfortunately, the office entrance was also locked, making it impossible to access the interior space. Observations from outside the office indicated that the space was not a shared workspace but was exclusively used by ORBI TRADE FUTURES.

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 ORBI TRADE FUTURES 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.