Company Profile
Company Profile
Review summary
| MagnetFX Review Summary | |
| Founded | 2021 |
| Registered Country/Region | Indonesia |
| Regulation | BAPPEBTI, ICDX |
| Market Instruments | Forex, gold, silver, crude oil, US Index |
| Demo Account | ✅ |
| Leverage | / |
| Spread | / |
| Trading Platform | MT5 |
| Minimum Deposit | / |
| Customer Support | Tel: (021) 250 6336 |
MagnetFX Information
MagnetFX, established in Indonesia, is a regulated broker under BAPPEBTI and ICDX. It offers trading in forex, gold, silver, crude oil, and the US Index via the MT5 platform, providing a risk-free demo account and streamlined online deposit/withdrawal processes with benefits for Bank BCA customers.
Pros and Cons
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Is MagnetFX Legit?
MagnetFX has Retail Forex Licenses regulated by BAPPEBTI and the Indonesia Commodity and Derivatives Exchange (ICDX).
What Can I Trade on MagnetFX?
MagnetFX offers a variety of trading options, including over 20 Forex pairs, Gold & Silver commodities, Crude Oil commodities, and the US Index. They allow access to global markets with fast execution and operate under Indonesian regulations, with easy online account opening.
| Tradable Instruments | Supported |
| Forex | ✔ |
| Commodities | ✔ |
| US Index | ✔ |
| Stocks | ❌ |
| Cryptocurrencies | ❌ |
| Bonds | ❌ |
| Options | ❌ |
| ETFs | ❌ |
Account
MagnetFX offers a demo account that is free of charge and uses virtual funds, allowing users to learn and simulate trading without risk. They offer live trading accounts as well, where users can trade with real capital.
Trading Platform
| Trading Platform | Supported | Available Devices | Suitable for |
| MT5 | ✔ | PC, Mobile | Experienced traders |
| MT4 | ❌ | / | Beginners |
Deposit and Withdrawal
MagnetFX's deposit and withdrawal processes are conducted online through their client cabinet, requiring users to log in, select their desired transaction, specify bank and amount in USD, and submit proof for deposits. Bank BCA customers benefit from instant, free top-ups by including their account number in the transfer description.
