The interview will discuss the topic of "Development of the Forex Industry in Indonesia". Through this interview, we will get the full picture of the latest news and outlook for the Indonesian Forex industry from the perspective of technological progress, changes in regulatory policies, macro environment and so on. At the same time, it will also convey to readers the position of the brokerage itself and its future development plans.
Before the offiffifficial start of the interview, let me introduce the brokers: DCFX is a broker offiffifficially regulated by Indonesia's Bappepti (Commodity Futures Trading Regulatory Agency) and a member of JFX (Jakarta Futures Exchange).
As a service-oriented company, DCFX has always pushed forward breakthroughs and innovations, utilizingits trading platform to provide all clients with the best trading experience.
01
Dialog Broker：
As a beginner in Forex trading, can you explain the role of regulators such as Bappepti (Commodity Futures Trading Regulatory Authority) and JFX (Jakarta Futures Exchange)?
RITA SAGITA：
As the Bappepti (Commodity Futures Trading Regulatory Agency) is directly managed by the Ministry of Trade of the Republic of Indonesia, its legal status is the regulatory agency for commodity futures trading. As already stipulated in Indonesian legislation, the main task of Bappepti (Commodity Futures Trading Regulatory Authority) is to guide, regulate, develop and supervise futures trading. It has the power to issue licenses for futures trading business participants and approve the adoption of relevant regulations and procedures (rules and regulations). It also supervises futures exchanges and clearing houses, supervises various futures trading activities, and ultimately provides corresponding decision-making solutions for solving problems related to futures trading activities.
In addition, in order to become a broker in Indonesia, we must be a member of Futures Exchange, DCFX, for example, is a member of JFX (Jakarta Futures Exchange), and all tradings that occur at DCFX will be reported to JFX (Jakarta Futures Exchange) and recorded at PT Kliring Berjangka Indonesia (Persero). While PT Kliring Berjangka Indonesia (Persero) is a clients funds guarantee agency, client funds are kept in segregated accounts of brokers or brokers registered with Clearing Houses, so they are regulated and supervised in Indonesia, thus guaranteeing safety regulations.
02
Dialog Broker：
In other words, local institutions in Indonesia can ensure the safety of client funds and help them avoid risks, right?
RITA SAGITA：
Yes, because all incoming client funds will be stored in the brokers’ segregated account, which also guarantees that client funds are not mixed with the company's operating funds. Then after receiving client funds, most of them are deposited directly into PT Kliring Berjangka Indonesia.
03
Dialog Broker：
Hi, Mr. Tonny, can you brieflfly explain the conditions for deposit and withdrawal in DCFX?
TONNY FONG：
First of all, to become a client of DCFX, the funds required in Indonesia are very small. For deposit and recharge, we do not set specifific conditions, and clients can deposit at any time . However, if the client wants to register and open an account with DCFX, the minimum deposit that must be transferred is 2,000,000.00 IDR (2,000,000 IDR). If the clients wants to make a withdrawal, it must be completed on the same day and the withdrawal amount must be greater than or equal to 100,000.00 IDR ( 100,000 IDR). There is no management fee charged for clients' deposits and withdrawals in DCFX. Tradings are only for bank transfers, depending on each bank's term.
For the spreads, we have two account types, the fifirst is a Zero Account, with spreads starting from 0.0 and the levy of variable commissions starting from 7 USD per lot. The second is a Standard Account with spreads from 0.8 and commissions of 1 USD per lot. So in general, the fee of our Zero Account or Standard Account is the lowest. Also, we are still offffering free exchanges for some tools as well. Then for clients who want to withdraw money, if the withdrawal time is before 6:00 pm on the same day, the withdrawal trading will be completed on the same day. But if it exceeds 6:00 pm, the withdrawal order will be processed on the next day. For clients whose account funds are less than 100,000.00 IDR ( 100,000 IDR) and who want to withdraw funds, the clients must agree to close their trading account when making a withdrawal operation.
04
Dialog Broker：
Mr. Tonny, have there been any broker server failures in Indonesia?
TONNY FONG：
So far, no system errors. However, recently, Cyber Building in Indonesia has experienced a fifire that has a great impact on us, and many brokers' MT4 systems have been affffected as a result. But the system in our app still runs smoothly because DCFX has its own app in addition to the MT4 system.
05
Dialog Broker：
Mr. Tony, what kind of backgrounds do most of DCFX's clients have, and what kind of services does DCFX provide?
TONNY FONG：
Currently, most of our clients are retailers who prioritize digital marketing, so a lot of millennials are joining us. We also welcome potential clients who come to invest in DCFX. For this reason, so we are preparing a membership program to provide clients with more benefifits, and we hope that we can launch the latest program in mid-January 2022.
In terms of service, we implement digital marketing, and each potential client will complete the registration process of opening a live account with the help of customer service. Further confirmation will be made by WPB. They will ask and explain all the terms and conditions of becoming a client. Also, how to trade in DC in a regulated manner will be expatiated, too. The details will include all the risks that investment that may have positive or negative effffects result in.
06
Dialog Broker：
As far as I know, digital currency is very popular in Indonesia currently. Ms. RITA, May I ask you that does DCFX plan to incorporate cryptocurrency products into DCFX's trading products in the future?
RITA SAGITA：
Indeed, at this time, Indonesia has started to be able to trade cryptocurrencies and it is also regulated by Bappepti (Commodity Futures Trading Regulator) legally. But at present, DCFX cannot include cryptocurrency as one of DCFX's products because of the policies in Indonesian, and if we want to do this in the future, we may need to establish a new identity.
07
Dialog Broker：
Mr. Tony, what do you think of the reputation of Forex trading in Indonesia?
TONNY FONG：
To be honest, the reputation is a bit worrying at the moment in Indonesia. Because there are quite a few irresponsible and non-compliant brokers here. After many non-compliant brokers have obtained a considerable number of clients and made very large profifits, most of them will choose to run away with the money. Meanwhile, as a legally authorized broker in Indonesia, it is very diffiffifficult for us (DCFX) to let potential clients know that trading in the Forex industry is interesting. Why? Because of the leverage system we know we can make bigger profifits, though we also suffffer huge losses if the client doesn't know how to trade correctly. This is one of the reasons for us. We are obliged to provide a comprehensive education to our potential clients on how to trade in the right and proper way in the Forex industry.
In addition, we also urge clients to ensure that all funds used are non-emergency funds. Therefore, the biggest task at present is to restore the image of the Forex industry itself. We hope that DCFX will be more well-known for the name of "The lowest cost broker in Indonesia" and in the future, DCFX can be placed on the international stage alongside foreign brokers, too.
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