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Score

0 1 2 3 4 5 6 7 8 9
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0 1 2 3 4 5 6 7 8 9
0 1 2 3 4 5 6 7 8 9
/10

MagnetFX

Indonesia | 2-5 years |
Regulated in Indonesia | Retail Forex License | White label MT5 | Regional Brokers

https://magnetfx.co.id/

Website
Open Account Time Machine

Rating Index

MT4/5 Identification

MT4/5

White Label

MagnetBerjangka-REAL

Indonesia
MT5
4

Influence

D

Influence index NO.1

Indonesia 2.75

MT4/5 Identification

MT4/5 Identification

White Label

4
Server Name
MagnetBerjangka-REAL MT5
Server Location Indonesia

Influence

Influence

D

Influence index NO.1

Indonesia 2.75
Surpassed 69.80% brokers
Biz Area Search Statistics Advertising Social Media Index

Contact

+62 (021) 250 6336
info@magnetfx.co.id
https://magnetfx.co.id/
Sona Topas Tower Lt. 18 Suite 1804 Jl. Jenderal Sudirman Kav. 26 DKI. Jakarta 12920

Licenses

Retail Forex License

BAPPEBTI Regulated

Indonesia Retail Forex License

Retail Forex License

ICDX Regulated

Indonesia Retail Forex License

VPS Standard
No restriction on the broker account

Single Core

1G

40G

1M*ADSL

Basic Information

Registered Region
Indonesia
Operating Period
2-5 years
Company Name
PT. Magnet Berjangka Indonesia
Abbreviation
MagnetFX
Company employee
--
Customer Service Email Address
info@magnetfx.co.id
Contact Number
+620212506336
Company Website
https://magnetfx.co.id/
Company Address
Sona Topas Tower Lt. 18 Suite 1804 Jl. Jenderal Sudirman Kav. 26 DKI. Jakarta 12920
Facebook
https://www.facebook.com/magnetfx.idn
A Visit to Magnet in Indonesia -- Office Confirmed Existed
A Visit to Magnet in Indonesia -- Office Confirmed Existed
A Visit to Magnet in Indonesia -- Office Confirmed Existed
WikiFX Survey
MagnetFX
Good
MagnetFX Indonesia
A Visit to Magnet in Indonesia -- Office Confirmed Existed
A Visit to Magnet in Indonesia -- Office Confirmed Existed
A Visit to Magnet in Indonesia -- Office Confirmed Existed
WikiFX Survey
MagnetFX
Good
MagnetFX Indonesia
Related Software
Biz Area
Website
Company Summary
Wiki Q&A
Comment
MT4/5
White Label MT5
0
MT4 Servers
2
MT5 Servers
14.20
velocityIcon
Average execution speed/ms

Formal full license MT4/5 traders will have sound system services and follow-up technical support. Generally, their business and technology are relatively mature and their risk control capabilities are strong

Meta Trader 5
Perfect

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Details
Official website

Website

magnetfx.co.id
172.67.218.226
Server Location
United States
ICP registration
--
Most visited countries/areas
--
Domain Effective Date
--
Website
WHOIS.PANDI.OR.ID
Company
-

Company Summary

MagnetFX Review Summary
Founded2021
Registered Country/RegionIndonesia
RegulationBAPPEBTI, ICDX
Market InstrumentsForex, gold, silver, crude oil, US Index
Demo Account✅
Leverage/
Spread/
Trading PlatformMT5
Minimum Deposit/
Customer SupportTel: (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.

MagnetFX's homepage

Pros and Cons

Pros Cons
  • Regulated by BAPPEBTI and ICDX
  • Limited information on trading conditions
  • Support MT5
  • Risk-free demo accounts

Is MagnetFX Legit?

MagnetFX has Retail Forex Licenses regulated by BAPPEBTI and the Indonesia Commodity and Derivatives Exchange (ICDX).

Regulated by BAPPEBTI
Regulated by 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❌
What Can I Trade on MagnetFX?

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 PlatformSupported Available Devices Suitable for
MT5✔PC, MobileExperienced traders
MT4❌/Beginners
MT5

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.

Deposit and Withdrawal

Keywords

  • 2-5 years
  • Regulated in Indonesia
  • Retail Forex License
  • White label MT5
  • Regional Brokers

Wiki Q&A

gnsrael
1-2 years

Is MagnetFX safe and legit?

WikiFX Reply
From my personal experience and research, I consider MagnetFX a legit broker. Being regulated by BAPPEBTI and ICDX means they operate under clear legal oversight. That said, I never take “safe” for granted—forex and commodity markets are volatile, so even with a regulated broker, I use stop-loss orders and careful position sizing to manage my risk.
Broker Issues
MagnetFX
Regulation
07-29
United States
DoreenVanDenHeever
1-2 years

What are the pros of MagnetFX?

WikiFX Reply
For me, the pros are quite clear: strong regulation (BAPPEBTI + ICDX), access to the MT5 trading platform, and a free demo account that I’ve used extensively for strategy testing. I also like that MagnetFX withdrawal and deposit processes are done online and are quite smooth, especially for Bank BCA customers like me, who get instant top-ups with no fees.
Broker Issues
MagnetFX
Regulation
07-15
United States
Prash_007
1-2 years

Are there fees for withdrawals?

WikiFX Reply
For Bank BCA withdrawals, I’ve always received the full amount with no deductions. Friends using other banks told me they sometimes see small interbank transfer fees, so I stick with BCA to avoid that.
Broker Issues
MagnetFX
Fees and Spreads
06-27
United States
Vahid
1-2 years

Which payment methods does MagnetFX support?

WikiFX Reply
I mainly use Bank BCA transfers because they’re fast and free for me. MagnetFX also supports other Indonesian local banks, all processed through their online client cabinet, which centralizes transaction management.
Broker Issues
MagnetFX
Deposit
Withdrawal
06-13
United States
View More

User Reviews 2

All (2) Positive (1) Neutral (1)
FX1378302353
6-10 years
Positive
MagnetFX seems to be a very reliable company, but when I opened their website, I found that the website showed Access denied. I don't know why this is. I don't think I'll have the chance to trade here, which is a pity. I will go and find other alternative forex companies. There is plenty of fish in the sea.
2023-03-20

United States
breav
6-10 years
Neutral
I traded with this broker last year. It is a legit broker, but the only problem was its high trading fees. Due to this, I did not make much profits. So, I’ve switched to another low- spread platform.
2023-03-07

Indonesia
No more
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