Esandar: JFX licence SPAB-070/BBJ/05/04

There is no evidence of that in this review. The operator is a named, addressed Indonesian company with two published offices, a twenty-year trading history and a consistent set of licence and membership numbers across every page. What it is not is a Tier 1 regulated international broker, and WIKILIX could not confirm the licence numbers against the regulator itself in this run.

The company has itself warned publicly that individuals are impersonating its marketing staff and promising guaranteed profits. That is a caution about third parties, not about the broker, but it is a real risk for anyone approached outside the official channels.

The broker states it holds only segregated accounts registered with BAPPEBTI, and names them publicly: two at Bank Central Asia (one IDR, one USD), one at Bank Mandiri and one at BNI, all in the name of PT Esandar Arthamas Berjangka. Segregation under the Indonesian framework is not the same as a statutory compensation scheme; if the firm failed, there is no fund that would automatically make you whole.

Seven major currency pairs, gold and silver, oil, and five major global indices on the bilateral side, plus multilateral commodity contracts in robusta coffee, arabica coffee, palm oil and cooking oil. Cryptocurrency is not offered.

In practice this is an Indonesia-focused broker. Deposits and withdrawals go through Indonesian bank accounts and virtual accounts, and the site states its information is not intended for residents of North Korea, Iran, Myanmar, the United States, Canada or Israel. The registration form offers a small set of international dialling codes but no country-of-residence selector, so acceptance from other markets is not stated either way.

The broker advertises instant processing with no fee, subject to terms and conditions, and does not publish a specific processing window or cut-off time. Because funding runs on Indonesian domestic rails, timing in practice will depend on your own bank as well as the broker's own review of the request.

Through domestic Indonesian channels. The broker publishes segregated bank accounts in its own name at BCA, Bank Mandiri and BNI, and also supports virtual-account deposits through leading Indonesian banks and e-wallets. It states that transactions are instant and carry no processing fees, subject to its terms; no numeric fee schedule or per-channel limit is published.

Always transfer only to the account numbers listed on the broker's own official pages.

MetaTrader 5 is the primary platform, supported on desktop, web and mobile. The broker also offers TradingView charting, its own EsaFX Trader application on the App Store and Google Play, and a legacy MetaTrader 4 build for existing Esandar clients.

Two live accounts are published. ZERO quotes spreads starting from 15 points with commission of US$0.5 per side (US$1 round turn) per lot, and runs on MetaTrader 5 or TradingView. PRO quotes spreads starting from 1 point with commission of US$4 per side (US$8 round turn) per lot, on MetaTrader 5. Both trade from 0.01 lot, allow swaps and include access to the broker's own mobile application. A demo account is also offered.

Up to 1:500 on both the ZERO and PRO accounts. That is high leverage by any standard: on a US$10 minimum deposit a small adverse move can wipe out the balance and trigger a margin call. Treat it as a ceiling to avoid rather than a feature to use.

US$10, equivalent to about Rp 100,000, for a first account opened under simplified KYC. Any further account you open requires standard KYC, and the minimum initial deposit for those is US$100 (about Rp 1,000,000). The same minimums apply to both the ZERO and PRO accounts.

The company has moved its retail offering to a new site published under the EsaFX brand and left a notice on the original Esandar domain pointing clients there. Deposits, withdrawals, online registration and the MetaTrader 4 download remain reachable from the Esandar domain, so the move is a rebrand of the same operator rather than a site that has been abandoned.

The broker is operated by PT Esandar Arthamas Berjangka, an Indonesian limited liability company incorporated in Jakarta on 16 February 2004 under notarial deed no. 38, carrying business registration number 8120106860676. The same entity is named on both the Esandar and EsaFX sites, on the deposit bank accounts and in the licence numbers the broker publishes.

Yes, domestically. The operator, PT Esandar Arthamas Berjangka, publishes a BAPPEBTI futures brokerage licence numbered 485/BAPPEBTI/SI/IX/2004, together with 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 Indonesian domestic supervision, designed for Indonesian residents. It is a real regulatory framework, but it is not equivalent to a Tier 1 licence from a European, British or Australian regulator, and it carries no comparable investor compensation scheme. WIKILIX did not confirm the licence number against the regulator itself in this review.