At present, many forex broker offers from domestic and foreign. Most outside brokers offer a variety of promotions. However, trading through domestic brokers, especially legal brokers with high credibility, has far more advantages.
Deposit in Rupiah
One convenience that can only be obtained through an Indonesian forex broker is a deposit system that uses rupiah. By using the rupiah currency, you will avoid the discounted exchange fees or transfer fees between other countries. In addition, the deposit amount can also be in the form of a round, making it easier for you to calculate the flow of money that you spend.
Ease of Administrative Process
Compared to foreign brokers, the domestic broker administration process is also much easier. Apart from the fact that all staff serving you can speak Indonesian, you can also go directly to the broker's representative offices without having to go abroad. For example, Monex, the largest legal broker in Indonesia even has a 24-hour customer service that is ready to help you.
More Guaranteed Safety
In Indonesia, all authorized and trusted brokers have security guarantees that are directly monitored by the Commodity Futures Trading Regulatory Agency (BAPPEBTI). With this supervision, the funds that you place have been guaranteed security. You will not get this if you trade using a foreign broker.
Appropriate Trading Fee Scheme
In addition to serving deposit transactions in Rupiah, domestic brokers also have a trading fee scheme (trading fee) in accordance with the value of your trading account. This is certainly different from foreign brokers who are likely to have trading costs in dollars, with a value that is not fixed because it follows the differences in existing exchange rates.
For example, if you open a trading account at Monex, you can choose the trading fee scheme you want to use, such as spreads starting from Rp. 0,
For those of you who want to learn forex trading online without having to think about trading risks, you can practice using a demo account. Demo accounts like those provided by Monex here, are trading accounts that contain virtual funds. That way, you can experience the trading situation on the forex market for free and safely. Right now, there are many forex broker offers from home and abroad. Most outside brokers offer a variety of promotions. However, trading through domestic brokers, especially legal brokers with high credibility, has far more advantages.