Risk scorecard
Each area is scored 0 (clean) to 10 (worst). Higher means more risk.
Regulation
3/10 · LowGenuine domestic BAPPEBTI licence 439/BAPPEBTI/SI/VIII/2004 plus SPA permit 1295/BAPPEBTI/SP/7/2007, both confirmed active on the regulator's own register and absent from the revoked list, though BAPPEBTI offers no loss compensation scheme.
Identity & transparency
2/10 · LowEntity, address, phone and all eight segregated bank accounts match the regulator's record exactly, with twelve named licensed representatives and a real Jakarta office; only minor gaps are placeholder social links and no ownership disclosure.
Withdrawals & conduct
7/10 · HighFund-integrity reports across a decade describing deleted profitable trades and an account traded to zero by staff, with a Rp 1.462 billion police report, but no adjudicated finding and no advance-fee-to-withdraw mechanic.
Reputation
7/10 · HighNegative Indonesian press and forum coverage naming the company, a criminal complaint on file, and effectively no independent positive review record to weigh against it.
Website claims
4/10 · ModerateLicence and 2004 founding claims are accurate and verified, but promises of instant withdrawals and protection from cheating sit awkwardly beside the complaint record, and staff made guaranteed-return pitches off-site.
Operational history
6/10 · HighVerified 22-year track record: company incorporated 7 June 2004, licensed since August 2004 and main domain registered March 2014, with no gap between claimed and evidenced history.
Who they are
A quick desk file on the company behind the brand.
- Brand: Cyber Futures, trading as CFForex
- Legal entity: PT. Cyber Futures, incorporated in Indonesia on 7 June 2004
- Registered: Menara Sudirman, 22nd floor, Jl. Jend. Sudirman Kav. 60, South Jakarta 12190
- Website: cfforex.com, with cfforex.co.id redirecting to it and a client portal at clientarea.cfforex.com
- Main licence: BAPPEBTI futures broker licence 439/BAPPEBTI/SI/VIII/2004, plus alternative trading system permit 1295/BAPPEBTI/SP/7/2007
- Also on record: membership of the Jakarta Futures Exchange and Indonesian Futures Clearing, which are memberships and not licences
- Offers: forex pairs, gold (XAU/USD and physical gold contracts), Hang Seng index and olein, on MetaTrader 4
- Terms: minimum deposit 1,000 US dollars, leverage up to 1:200, spreads quoted from 10 to 20 pips, commission 5 to 10 US dollars per lot
- Client money: segregated accounts at Bank Artha Graha, BCA, CIMB Niaga and Mandiri, all four confirmed on the regulator's record
- Age claim: since 2004, which we verified as true
Regulation
Who really oversees this broker, and what each licence is worth to you.
Proof of regulation on an official register: Yes
We confirmed this broker on a genuine regulator’s register.
Licences the broker publishes
BAPPEBTI
BAPPEBTI
JFX
Kliring Berjangka Indonesia
Why we reached this verdict
How the evidence adds up.
We rate this broker high risk, not a scam. The regulatory side checks out at source, but the conduct side does not, and those are two different questions.
- The licence is real and we confirmed it ourselves. BAPPEBTI's register shows PT. CYBER FUTURES with licence 439/BAPPEBTI/SI/VIII/2004 and the alternative trading permit 1295/BAPPEBTI/SP/7/2007. We also searched BAPPEBTI's list of brokers whose licences were revoked and the company is not on it.
- It is not a clone. The register records the website cfforex.co.id, and that address redirects to the live site cfforex.com. The phone number, the Menara Sudirman address and all eight segregated bank account numbers published on the site match the regulator's record exactly. Copying that much detail correctly is not something an impersonator does.
- The company is genuinely old. PT. Cyber Futures was incorporated on 7 June 2004 and the main domain was registered in March 2014. The claim of operating since 2004 is accurate, which is unusual and counts in the broker's favour.
- But client money has gone missing, and the reports are specific. A client reported deposits of Rp 140 million, then Rp 322 million, then Rp 1 billion between 9 and 24 August 2023, and a total loss of about Rp 1.462 billion. Named staff allegedly ran the account and promised a fixed Rp 225 million per week on 100,000 US dollars. No honest brokerage promises a weekly fixed return of that size.
- A criminal complaint is on file. The matter was reported to Polda Metro Jaya in May 2024 under report LP/B/2463/V/2024, citing fraud, embezzlement and money laundering. That is an allegation under investigation, not a conviction, and we have weighted it as such.
- The same kind of failure appeared a decade earlier. In January 2015 a client documented four profitable USD/CHF trades totalling 47,087.76 US dollars being removed from account 51113083, with the company issuing a letter calling them a wrong quote. An introducing partner ended its relationship over it.
- The pattern test. The complaints describe the same underlying failure, they come from different people on more than one platform, and they are checkable down to account numbers and a police report number. They are not tightly clustered in one window, which is why we score this as a strong but unconfirmed pattern rather than proof.
- There is very little to weigh on the other side. There is no Trustpilot page for the domain and no independent positive review record we could find. The only favourable material is the company's own testimonials and a promotional article. Unverifiable praise is never treated as exoneration.
Under our rules a verified licence clears the question of identity, not the question of conduct. A real, licensed, 22-year-old company facing credible and specific allegations that client funds disappeared is exactly the case for a high-risk rating.
Evidence ledger
Every finding, with its source and how strongly it points.
E1BAPPEBTI's own register lists PT. CYBER FUTURES with business licence 439/BAPPEBTI/SI/VIII/2004 and alternative trading permit 1295/BAPPEBTI/SP/7/2007, at Menara Sudirman floor 22, Jl. Jend. Sudirman Kav. 60, Jakarta 12190, website www.cfforex.co.id, plus eight segregated bank accounts and twelve licensed representatives.
E2We searched BAPPEBTI's list of futures brokers whose licences have been revoked, which holds 42 companies, and Cyber Futures returns no matching record. The same search box correctly returns the full list when cleared, so the search works.
E3The segregated client account numbers published on the company's own site for BCA, CIMB Niaga and Mandiri match the regulator's record digit for digit, including 0353118070, 0640100178008 and 1020006265737. The site also names MetaTrader 4, a 1,000 dollar minimum deposit and 1:200 leverage.
E4The website recorded on the regulator's register, cfforex.co.id, redirects to the live site cfforex.com. This ties the register entry to the operating site and completes the clone check on the domain leg.
E5Corporate records show PT Cyber Futures incorporated on 7 June 2004 at Menara Sudirman floor 22, Jl. Jend. Sudirman Kav 60, South Jakarta 12190, with website cfforex.com and activity in securities and commodity contracts brokerage. The address matches the regulator's record.
E6The main domain cfforex.com was registered on 28 March 2014 through Tucows and runs on Cloudflare nameservers, with expiry in 2028. This gives a domain history of about twelve years.
E7The company's about page states it has been a brokerage since 2004 and operates under the Jakarta Futures Exchange and Indonesian Futures Clearing. This matches the 2004 incorporation date and the August 2004 licence, so the age claim is accurate rather than inflated.
ModerateCyber Futures about pageE8A client reported deposits of Rp 140 million on 9 August 2023, Rp 280 million plus Rp 42 million on 11 August 2023 and Rp 1 billion on 23 and 24 August 2023, with total losses of Rp 1.462 billion. Named staff allegedly managed the account and promised fixed weekly income of Rp 225 million on 100,000 US dollars. Police report LP/B/2463/V/2024/SPKT/POLDA METRO JAYA cites fraud, embezzlement and money laundering.
E9A client documented four profitable USD/CHF trades totalling 47,087.76 US dollars being removed from account 51113083 in January 2015, with the company issuing a letter calling the trades invalid because of a wrong quote. An introducing partner ended its relationship with the broker over the incident.
E10A widely reported case of a futures client losing about Rp 1.4 billion names PT Kontak Perkasa Futures, a different Indonesian broker, and not this company. We excluded it from our assessment so that another firm's case is not attributed here.
E11The company's contact page gives its head office as Menara Sudirman floor 22, Jl. Jend. Sudirman Kav. 60, South Jakarta 12190, with office hours Monday to Friday. This is the same address as the regulator's record and the corporate record.
ModerateCyber Futures contact pageE12A promotional article repeats the licence number 439/BAPPEBTI/SI/VIII/2004, the 2004 founding date and membership of the Jakarta Futures Exchange and Indonesian Futures Clearing. It reads as sponsored content, so we treat it as corroboration of the published licence details only and not as independent endorsement.
E13The social media icons in the site footer link to the generic home pages of Facebook, TikTok, Instagram and YouTube rather than to any company profile, so the company has no verifiable official social presence from its own website.
The other side
The strongest case in this broker’s favour.
Here is the honest case for the broker, and some of it is strong.
- The regulation is real, domestic and checkable. BAPPEBTI is Indonesia's own statutory commodity futures regulator, not an offshore licence mill. The licence dates from 2004 and is still active. We looked for sanctions or a revocation and found none.
- Client funds sit in segregated accounts at four mainstream Indonesian banks, and the account numbers on the website match the regulator's record digit for digit. That is real infrastructure and a genuine protection that pure scams do not build.
- Twelve licensed brokers' representatives are named on the register. These are individually approved people, which points to a supervised operation with real staff.
- The office is real. The address on the register, in the corporate record and on the contact page is the same floor of the same Jakarta tower.
- The company does not lie about its history. Many suspect brokers inflate their age. This one claims 2004 and 2004 is correct.
- The allegations point at people, not just the firm. The 2025 case is framed around named marketing and management staff who allegedly took over the account and made return promises. Discretionary trading by staff and guaranteed-return pitches are prohibited practices that individuals commit. The company is being pursued for responsibility for its people rather than for having been built as a fraud.
- This pattern is common across the whole Indonesian futures sector, and several other licensed local brokers face near-identical claims. That context matters: it does not clear this firm, but it argues against reading the complaints as proof of a deliberately fraudulent operation.
- The brand is itself being impersonated. The company publishes a warning about people using the PT. Cyber Futures name and logo to solicit money. Some complaints circulating under this brand may belong to those impersonators, and we were careful not to credit anything we could not tie to this company.
- We rejected material that did not belong here. A widely reported Rp 1.4 billion victim case turned out to name PT Kontak Perkasa Futures, a different broker. We excluded it entirely.
- The volume of complaints is low in absolute terms, and nothing we found is an adjudicated finding of theft. No regulator anywhere has published a warning naming this company or its website.
What would change this
What we would need to see to revise the verdict.
These are the specific things that would move our rating in either direction.
- Towards safe: the Polda Metro Jaya investigation closing without charges, or the dispute being settled and the client made whole, with BAPPEBTI confirming no breach.
- Towards safe: a run of independent, verifiable reports from clients who deposited and were paid out in full, on platforms we can check rather than testimonials on the company's own pages.
- Towards safe: the company publishing a clear statement on discretionary trading, banning staff from operating client accounts and from quoting fixed returns, together with an audited complaints record.
- Towards safe: real, active official social media and support channels replacing the placeholder links currently in the site footer.
- Towards scam: BAPPEBTI suspending, freezing or revoking licence 439/BAPPEBTI/SI/VIII/2004, or naming the company in a sanction notice.
- Towards scam: charges being laid, or a court finding fraud, embezzlement or money laundering against the company or its directors.
- Towards scam: a fresh cluster of withdrawal refusals in one window, especially any demand for an extra payment such as a tax or release fee before funds are paid out. We found no evidence of that mechanic and it would change the picture sharply.
- Towards scam: the segregated bank accounts ceasing to match the regulator's record, or client money being shown to sit outside them.
Check it yourself
Official registers and warning lists. Verify every claim first-hand.
BAPPEBTI register entry for PT. Cyber Futures
The regulator's own record showing the licence number, address, website and segregated bank accounts.
BAPPEBTI list of futures brokers with revoked licences
Searchable list where we confirmed this company does not appear.
BAPPEBTI list of licensed futures brokers
The full register of licensed Indonesian futures brokers.
Cyber Futures official website
The company's own site, including its legality page and segregated account details.
Frequently asked questions
Quick answers about this broker’s safety.
Is Cyber Futures a scam?
No, not on the evidence we have. PT. Cyber Futures is a genuine Indonesian brokerage with an active BAPPEBTI licence dating from 2004, a real Jakarta office and segregated client bank accounts. But it faces credible and specific allegations that client money disappeared, including a 2024 police report, so we rate it high risk rather than safe.
Is Cyber Futures regulated?
Yes. We found it on BAPPEBTI's own public register with futures broker licence 439/BAPPEBTI/SI/VIII/2004 and alternative trading system permit 1295/BAPPEBTI/SP/7/2007. BAPPEBTI is Indonesia's statutory commodity futures regulator. We also checked the regulator's revoked-licence list and the company is not on it.
Can I withdraw my money from Cyber Futures?
Most likely yes, but there is real risk. We did not find a pattern of flat withdrawal refusals. What we did find is worse in a different way: reports of account balances being wiped out by trades the client says they did not authorise, and profitable trades being deleted. Test a small withdrawal before depositing more.
Is my money safe with Cyber Futures?
Partly protected. Client funds are held in segregated accounts at Bank Artha Graha, BCA, CIMB Niaga and Mandiri, and those account numbers match the regulator's record exactly. However, Indonesia has no compensation scheme that repays you for trading losses or misconduct, so segregation does not make you whole if your account is mishandled.
Who owns Cyber Futures?
The operating company is PT. Cyber Futures, incorporated in Indonesia on 7 June 2004 and based at Menara Sudirman, 22nd floor, Jl. Jend. Sudirman Kav. 60, South Jakarta. Reporting on the 2015 dispute named Iwan Wijaya as president director. The company does not publish a full ownership structure on its website.
How old is Cyber Futures?
The company is genuinely old. It was incorporated in June 2004 and licensed by BAPPEBTI in August 2004, which makes it about 22 years old. The main website domain was registered in March 2014. Its claim of operating since 2004 is accurate, which we confirmed rather than took on trust.
What is the BAPPEBTI licence actually worth?
It is real regulation, not a paper licence bought offshore. BAPPEBTI licenses and supervises Indonesian futures brokers, requires segregated client accounts and can revoke licences. But its protection for retail clients trading leveraged forex and gold is limited, and it does not refund losses, so a licence is not a guarantee of good conduct.
What is the SPA permit on the register?
SPA stands for Sistem Perdagangan Alternatif, the alternative trading system. Permit 1295/BAPPEBTI/SP/7/2007 is what allows the company to offer over-the-counter products such as forex and loco London gold, as opposed to exchange-traded multilateral contracts. It is a genuine part of the Indonesian licensing framework.
Is Cyber Futures a clone of another broker?
No. We ran the clone check and it passed. The regulator's register lists the website cfforex.co.id, which redirects to the live site cfforex.com, and the phone number, office address and segregated bank account numbers on the site all match the regulator's record. This is the licensed company itself.
Why does one broker directory say Cyber Futures has no licence?
Because it appears to have profiled cyberfx.id, an old company domain that no longer works, and concluded the operation had disappeared. We checked the regulator's own register directly and the licence is there and active. A regulator's register always outranks a third-party listing.
What are the complaints about Cyber Futures?
Two things, a decade apart. In January 2015 a client documented four winning USD/CHF trades worth 47,087.76 US dollars being removed from the account, which the company called a wrong quote. In 2023 to 2025 a client reported losing about Rp 1.462 billion after staff allegedly ran the account and promised a fixed Rp 225 million per week.
Is there a police case against Cyber Futures?
A client filed report LP/B/2463/V/2024/SPKT/POLDA METRO JAYA with Jakarta Metro Police in May 2024, alleging fraud, embezzlement and money laundering. This is a complaint under investigation, not a conviction or a finding of guilt, and we have weighted it accordingly.
Someone contacted me offering guaranteed weekly profits from Cyber Futures. Is that genuine?
Treat it as a scam approach. Fixed guaranteed returns are not a legitimate trading product, and this exact pitch appears in the most serious complaint we found. The company also publishes its own warning that people misuse its name and logo. Verify any contact against the phone numbers on the regulator's register.
What should I check before depositing with any Indonesian futures broker?
Confirm the company on BAPPEBTI's register and check it is not on the revoked list. Send money only to the segregated company accounts shown there, never to a personal account. Refuse any offer to have staff trade for you, ignore guaranteed returns, and test a small withdrawal before committing real capital.
What we recommend
The practical takeaway from everything above.
Treat this as a licensed broker with a real and unresolved conduct problem. If you are considering depositing, or already have money there, this is what we would do.
- Check the licence yourself on BAPPEBTI's register before anything else, and confirm the company is still listed and not on the revoked list.
- Never let anyone trade your account for you. Every serious allegation we found involves staff or a manager operating the client's account. Keep your login private and place your own orders.
- Walk away from any promise of a fixed weekly or monthly return. A guarantee of Rp 225 million per week, or anything resembling it, is not a real trading product.
- Only ever send money to the segregated company accounts at Bank Artha Graha, BCA, CIMB Niaga or Mandiri that appear on BAPPEBTI's record. Never to a personal account.
- Test a withdrawal early and keep it small before committing anything you cannot afford to lose.
- Keep records. Save statements, trade histories, deposit receipts and chat messages. In the cases we read, the clients who had specific records were the ones able to act.
- If your funds are gone, complain in writing to the company, then to BAPPEBTI, and take legal advice. An existing police report shows this route is being used.
- Be alert to impersonators. The company warns that others use its name. Deal only through cfforex.com and the numbers published on the regulator's register.
This is an independent assessment of risk, not a legal ruling. Scores and verdicts follow the Wikilix broker-safety methodology and can change as new evidence appears. Review scores are treated with caution when a broker’s reviews look manipulated. Last reviewed August 26, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.