Esandar

Esandar is the retail trading brand of PT Esandar Arthamas Berjangka, an Indonesian futures brokerage incorporated in Jakarta on 16 February 2004 by notarial deed no. 38. The firm operates from the Agung Podomoro Land (APL) Tower on Jl. Letjen S. Parman in West Jakarta, with a branch office in Surabaya, and carries the Indonesian business registration number 8120106860676.

The original esandar.co.id site now carries a maintenance notice and directs clients to the company's current platform, published at esafx.co.id under the EsaFX name. Both brands are operated by the same legal entity, and the deposit, withdrawal, online registration and MetaTrader download services remain reachable from the Esandar domain.

Regulation. The company publishes a Badan Pengawas Perdagangan Berjangka Komoditi (BAPPEBTI) futures brokerage licence numbered 485/BAPPEBTI/SI/IX/2004, an Otoritas Jasa Keuangan letter S-197/PM.02/2025, a Bank Indonesia approval 27/210/DPPK/Srt/B, Jakarta Futures Exchange membership SPAB-070/BBJ/05/04 and Kliring Berjangka Indonesia clearing membership 30/AK-KBI/PA/III/2017. This is domestic Indonesian supervision aimed at Indonesian residents; it is not equivalent to a Tier 1 European or Australian retail licence, and the exchange and clearing memberships are memberships rather than trading licences in their own right.

What is on offer. Two live accounts are published. The ZERO account quotes spreads from 15 points with commission of US$0.5 per side (US$1 round turn) per lot and runs on MetaTrader 5 or TradingView. The PRO account quotes spreads from 1 point with commission of US$4 per side (US$8 round turn) per lot on MetaTrader 5. Both take a minimum first deposit of US$10 (about Rp 100,000) under simplified KYC, trade from 0.01 lot and offer leverage of up to 1:500; subsequent accounts require standard KYC with a US$100 minimum. Instruments cover seven major currency pairs, gold and silver, oil, five global indices and multilateral commodity contracts in coffee, palm oil and cooking oil.

Platforms and funding. MetaTrader 5 is the main platform, alongside TradingView charting, the in-house EsaFX Trader mobile app on iOS and Android, and a legacy MetaTrader 4 build for existing Esandar clients. Funding runs through domestic Indonesian bank transfers to segregated accounts at BCA, Bank Mandiri and BNI held in the company's own name, plus virtual accounts and e-wallets; the broker states transactions are instant with no processing fees, subject to its terms.

Who it suits, and the caveats. This is a broker built for Indonesian residents who want locally supervised, rupiah-funded futures and forex trading with a very low entry deposit. Traders outside Indonesia are poorly served: funding is domestic-only, the site states it does not target residents of North Korea, Iran, Myanmar, the United States, Canada or Israel, and client-money protection sits under an Indonesian framework rather than a Tier 1 compensation scheme. The company itself has published a fraud warning about individuals impersonating its marketing staff and promising guaranteed returns, and lists the only segregated bank accounts it uses. Leverage of 1:500 on a US$10 account is a fast route to losing the deposit.