Maxco: JFX licence SPAB-057/BBJ/12/03

Yes. A demo account is offered with USD 10,000 of virtual funds and a validity of one month, usable across the trading platforms. It is the sensible place to test execution and the platform before committing real money.

No evidence of that was found. The brand maps to a named Indonesian company at a real Jakarta address, with two licence records that name that company, that carry consistent numbers and that were confirmed as in force. What is missing is corroboration rather than an adverse finding: the corporate registry could not be reached and the public site did not respond, so several claims stand on the firm's own disclosure. Treat it as a domestically regulated broker with an incomplete public record, not as a red flag.

Probably not, unless you are in Indonesia. The BAPPEBTI regime licenses domestic futures brokers to serve Indonesian residents, and the broker's public site did not serve requests from outside its home market during this review. The firm publishes no restricted-country list this review could reach, so the only safe assumption is that it is built for the Indonesian market. Ask the broker directly before applying from abroad.

Same working day for requests placed before the daily cut-off, otherwise the next business day. This reflects the domestic bank rail the broker uses; it is not a guarantee, and no independent measurement of actual payout times was available for this review.

Through local Indonesian bank transfer, in rupiah or US dollars. Deposits and withdrawals are processed on business days only, and requests submitted before the daily cut-off in the late afternoon are handled the same working day. Cards and e-wallets are not confirmed as available.

Spreads are variable rather than fixed, and there is a commission of USD 1 per lot. A full fee schedule, including swap rates, inactivity charges and any funding fees, could not be read during this review and should be requested from the broker before you open an account.

Around 70 instruments spanning forex pairs, precious metals, futures contracts and share CFDs. Exact instrument counts per asset class are not published here, because the broker's own product pages could not be read during this review.

MetaTrader 4 is the main platform, on a full licence, with the live server Maxco-Real hosted in Indonesia and expert advisors supported. A browser-based WebTrader and a mobile app are also offered. MetaTrader 5 is not offered.

Up to 1:500. That is well above what onshore regulators in the European Union, the United Kingdom or Australia allow retail clients, typically 1:30. High leverage magnifies losses at exactly the same rate as gains, and a 1:500 position is wiped out by a move of a fifth of one percent against you.

The headline minimum to open a live account is USD 100. Accounts can be denominated in US dollars or Indonesian rupiah. Per-channel minimums were not confirmed, because the broker's own funding page did not serve requests during this review.

The operating legal entity is PT Maxco Futures, an Indonesian company based at Jl. Jend. Sudirman Kav-1, Senayan, Jakarta Pusat 10270. That is the name printed on the BAPPEBTI forex licence. Its entry in the Indonesian corporate registry could not be opened during this review, because the registry did not respond, so the registration number and incorporation date are not published here.

Yes, within Indonesia. Maxco operates under a Forex Trading License (EP) numbered 353/BAPPEBTI/SI/IV/2004 issued by Badan Pengawas Perdagangan Berjangka Komoditi, Indonesia's statutory commodity futures regulator, and holds a Derivatives Trading License (AGN) numbered SPAB-057/BBJ/12/03 through the Jakarta Futures Exchange. Both were confirmed as in force during this review. The exchange licence is membership of a marketplace rather than a government permission in its own right, and neither authorisation was checked directly against the issuing register during this review.