forex WikiFX Visited Indonesian Forex Broker AGRODANA

[Anzo Lim 0]

Broker: AGRODANA (Indonesia)

Visited on: August 23^rd, 2019

Conclusion: the broker really exists

 

On-the-spot investigation

Regulatory information suggests AGRODANA’s licensed branch in Indonesia is at Menara Batavia Lantai 3A, Jl. KH. Mas Mansyur Kav. 126, Jakarta Pusat, and WikiFX recently visited the broker at the site.

Menara Batavia is a magnificent office building. We took the elevator to the 3^rd floor and found AGRODANA’s sign. Following the direction, we soon arrived at AGRODANA’s office. Information on the two posters at the entrance corresponds to that of the company’s website. The office looks bright and spacious with about 30 office cubicles. After a brief communication with the staff members, we concluded that AGRODANA’s Indonesian office truly exists.

 

Analysis

SE Asia has become an emerging forex market in recent years, and the forex industry in countries such as Malaysia and Indonesia continues to thrive. Amidst the proliferation of forex brokers, investors remain unfamiliar and skeptical about brokers from this region due to slack regulation policy and authorites’ relatively weak enforcement of rules. Therefore, WikiFX is visiting brokers in Indonesia and other SE Asian countries to bring investors more reliable details about them.

 

According to AGRODANA’s official site, it’s a licensed Indonesian futures brokerage company established in May, 2000, with headquarter in Jakarta and branches in Bandung, Surabaya and Lampung. Focused on forex, commodities, and stock indices in Asia and around the world, the company is well-versed in finance and has acquired licenses and membership from financial institutions including BAPPEBTI (Commodity Futures Trading Regulatory Agency), ICDX (Indonesia Commodity & Derivatives Exchange), The Business Information & Communication Centre and JFX (Jakarta Futures Exchange). Regulatory information from BAPPEBTI shows AGRODANA holds retail forex license and is authorized for conducting retail forex brokerage.

 

Conclusion

Per checking the WikiFX App, AGRODANA is under Indonesian regulation and holds BAPPEBTI’s license for retail forex brokerage. It uses main-label MT4 trading software and has a WikiFX rating of 6.25, suggesting moderate credibility. However, since AGRODANA has been in business for less than a year, the overall qualification of the broker remains to be tested and investors should be cautious during investment to ensure the asset safety.

 

[clarkent 0]

Is it a good broker? Anyone? I am looking for becoming a serious Forex trader. For now, I have been using forexkings.com and their forex signals, but I need to make more money. They have been good to me, and the stuff they have been sending to me was really good. I just need to advance and get a broker that would help me become even better. I can't seem to choose a broker because there is a lot of scams now. I read a story where a broker stole 9 million dollars from his customers. It's really scary reading stories like that, and that is why I have my doubts.

[Jimmy Sky 0]

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