Risk scorecard
Each area is scored 0 (clean) to 10 (worst). Higher means more risk.
Regulation
7/10 · HighNo licence at all: BAPPEBTI revoked licence 188/BAPPEBTI/SI/II/2003 on 6 March 2019 after a freeze for unauthorised handling of client margin, and another firm's NFA number was used in overseas marketing.
Identity & transparency
8/10 · CriticalThe company, office and directors were real and disclosed, but client margin went into unapproved and personal accounts and the chairman publicly disowned 2,500 clients of its own branch.
Withdrawals & conduct
10/10 · CriticalFund-integrity failure confirmed by the regulator itself: a mass withdrawal freeze from March 2016, a national task force needed for stranded balances, and a decade of specific loss claims.
Reputation
9/10 · CriticalSustained negative record across a forex forum, mainstream Indonesian press, a national news portal and victim groups in four Indonesian cities and Taiwan, none of it resolved.
Website claims
9/10 · CriticalMarketed as a fully licensed broker while placing client margin in unapproved accounts, promised fixed monthly returns overseas, and overstated its age; CFTC and NFA claims were false.
Operational history
7/10 · HighRoughly sixteen years of genuinely verified licensed operation, credited here, but the history ends in licence revocation, abandonment of clients and a dead website.
Who they are
A quick desk file on the company behind the brand.
Desk file for the operation behind mpf.co.id.
- Brand: Millennium Penata Futures (MPF)
- Legal entity: PT Millennium Penata Futures, an Indonesian limited company, part of the Millennium Danatama group
- Registered: Gedung Millennium, Jl. Kramat Raya No. 38, Jakarta Pusat 10450, Indonesia
- Website: mpf.co.id. Domain registered 25 October 2004, renewed to 2027, but serving no site since 2019
- Only licence: BAPPEBTI futures broker licence 188/BAPPEBTI/SI/II/2003, revoked 6 March 2019. The firm holds no financial licence anywhere today
- Offered: Forex, precious metals, energy, index and share CFDs on MetaTrader 4, leverage 1:100 to 1:400, plus fixed-return 'Security Deposit Accounts' sold to overseas clients
- Not accepted: the business no longer trades. No accounts can be opened, the platform was shut down, and the deadline to claim leftover balances through the regulator's task force expired on 4 April 2019
- Age claim: the site said it had spent 'more than 20 years' at the top of the Indonesian forex industry. Its licence dates to 2003 and its domain to 2004
Regulation
Who really oversees this broker, and what each licence is worth to you.
Proof of regulation on an official register: No
We could not confirm this broker on any genuine regulator’s register.
Licences the broker publishes
BAPPEBTI (Commodity Futures Trading Regulatory Agency, Indonesia)
Jakarta Futures Exchange (JFX / Bursa Berjangka Jakarta)
Indonesia Commodity and Derivatives Exchange (ICDX)
Kliring Berjangka Indonesia / IDCH (Indonesian futures clearing house)
NFA / CFTC (United States)
Why we reached this verdict
How the evidence adds up.
The regulator did the decisive work here, and it did it twice. We read both decisions on BAPPEBTI's own website.
- The licence was cancelled, not surrendered. On 6 March 2019 BAPPEBTI revoked PT Millennium Penata Futures' futures broker licence under Head of BAPPEBTI Decision No. 03 of 2019. It also revoked the licences of every broker representative at the firm. We walked all 67 entries on BAPPEBTI's current register of licensed futures brokers and the company is not there.
- The reason was client money. The revocation followed a freeze on 12 November 2018 under Decision No. 08 of 2018. BAPPEBTI's own English notice states the firm was 'proven to have violated the laws and regulations in the field of Commodity Futures Trading related to customer enrollment and margin placement in futures broker accounts that did not get permission from CoFTRA'. Client margin sitting in unapproved accounts is a fund-integrity failure, not paperwork.
- The regulator opened a claims process for stranded balances. On 14 March 2019 BAPPEBTI announced that its national customer complaint task force would verify claims from MPF clients who still had equity at the firm, with documents to be filed between 15 March and 4 April 2019. That confirms, from the regulator, that clients were owed money.
- A mass withdrawal freeze, years earlier. More than 2,500 clients signed up through MPF's Taiwan branch stopped being paid interest after February 2016, and from March 2016 all withdrawals were frozen and the MetaTrader platform was taken offline. Investor groups put the deposits at roughly 163 million US dollars. The group chairman then said the Taiwanese account agreements were nothing to do with his companies, which wrote off every one of those clients.
- The pattern repeats in Indonesia and it is checkable. Around 200 clients in Bandung publicly demanded Rp 50 billion back in December 2010. A 2013 complainant published the mechanics: he was promised a minimum 20 percent per month, told to pay Rp 20 million into a private bank account in an individual's name rather than a company account, and his balance was empty within three weeks. His account had never been registered with the Jakarta Futures Exchange or the clearing house. That is precisely the violation BAPPEBTI sanctioned five years later.
- Credentials that belong to someone else. Investor groups documented the operation advertising CFTC membership and NFA registration number 0263119 in its overseas recruitment material. We checked that number on the NFA's own register: 0263119 is Millennium Global Investments Limited of 88 Wood Street, London, an unrelated UK currency manager. We could not open the original Chinese-language advertisement ourselves, so we record who the number really belongs to as verified and the firm's use of it as reported.
- The complaint pattern is as strong as it gets. One mechanism, money not returned. Clustered around the March 2016 freeze and the 2018 to 2019 collapse. Reported independently on an established forex forum, in mainstream Indonesian news, on a national news portal's reader complaints section, and on victim-run pages. Full of amounts, dates, names and bank details.
Two independent regulator decisions plus a regulator-run claims process, corroborated by a documented multi-country pattern of clients not getting their money back, is well past the threshold for a confirmed verdict. The operation is now defunct, so the finding is historical, but it is not spent: the domain is still maintained and the money was never made good.
Note on operating history: the 21.8-year track record rests on domain registration alone. No company incorporation date could be established, so this is an upper bound rather than a confirmed age.
Evidence ledger
Every finding, with its source and how strongly it points.
E1BAPPEBTI revoked PT Millennium Penata Futures' futures broker licence on 6 March 2019 under Head of BAPPEBTI Decision No. 03 of 2019, and revoked all broker representative licences at the firm. The notice states the revocation does not remove the company's liability to clients for losses it caused.
E2BAPPEBTI's English notice of 12 November 2018 states the firm was proven, on inspection, to have violated commodity futures law on customer enrollment and on margin placement in futures broker accounts that did not have regulatory permission. Decision No. 08 of 2018.
E3BAPPEBTI announced on 14 March 2019 that its national customer complaint task force would verify claims from MPF clients holding remaining equity, with documents filed between 15 March and 4 April 2019 at the Indonesian commodity exchange. This confirms client funds were outstanding at the firm.
E4PT Millennium Penata Futures does not appear anywhere on BAPPEBTI's current register of licensed Indonesian futures brokers. We walked all 67 entries by name; the only similar names are PT Prima Investama Berjangka (formerly Millennium Prudent Futures, licence 93/BAPPEBTI/SI/12/2011) and PT Java Global Futures, both separate companies.
E5A detailed investor-group account, tagged to the domain mpf.co.id, describes MPF's Taiwan branch taking more than 165 million US dollars from over 2,500 clients in fixed-return Security Deposit Accounts between 2009 and 2016, interest payments stopping after February 2016, all withdrawals frozen from March 2016, and the group chairman then denying the Taiwanese agreements were his companies'.
E6NFA's own register shows that NFA ID 0263119 belongs to MILLENNIUM GLOBAL INVESTMENTS LIMITED, 88 Wood Street, London EC2V 7QR, England, an NFA member since 1996 whose activity is limited to swaps. It is unrelated to the Jakarta firm, which investor groups documented quoting this number as its own in overseas recruitment material.
StrongNFA BASIC firm profileE7A published 2013 complaint sets out the mechanic: the complainant was offered a mini account with a minimum 20 percent monthly return, was directed to pay Rp 20 million into a private individual's bank account rather than a company account, and found the balance emptied within three weeks. His account had never been registered with the Jakarta Futures Exchange or the Indonesian clearing house.
E8A long-form account of the group's history records the Taiwan losses at about Rp 2.17 trillion across 2,500 clients, names the firm's president director and the branch representative who withdrew after collecting client funds, dates the platform shutdown to late March 2016, and identifies MPF as a subsidiary of the Millennium group.
E9The firm's own website in October 2018 published its full permission list: BAPPEBTI 188/BAPPEBTI/SI/II/2003, JFX SPAB-048/BBJ/10/02, IDCH 17/AK-KBI/X/2003, ICDX 009/SPKB/ICDX/Dir/II/2010 and ICH Clearing 002/SPKK/ICDX/ISI-MPF/IV/2010, along with the Gedung Millennium address on Jl. Kramat Raya No. 38 and a claim of more than 20 years at the top of the Indonesian forex industry.
E10The domain mpf.co.id was registered on 25 October 2004 through an Indonesian registrar, is paid up to 1 September 2027, and its records were last changed on 16 August 2026. The domain is therefore still actively maintained despite the site serving nothing.
E11Archive records show the site served full broker content until October 2018, then only tiny placeholder pages from August 2019 onward, and errors from 2022. The live site today does not load at all. We found no evidence the firm kept advertising its cancelled BAPPEBTI licence after March 2019.
E12The company's LinkedIn page identifies itself as PT Millennium Penata Futures and lists http://www.mpf.co.id as its website, confirming the corporate identity behind the domain under investigation. It describes a financial services firm of 501 to 1,000 employees offering FX, FX OTC and futures.
E13Around 200 clients of the firm's Bandung operation publicly demanded the return of investment funds worth Rp 50 billion in December 2010, saying money vanished from accounts on which they had never traded, after being promised Rp 1 million daily profit on a Rp 50 million investment.
The other side
The strongest case in this broker’s favour.
We looked hard for the innocent reading, and parts of it hold up. This was not a fake company or a cloned brand.
- It was genuinely licensed and genuinely long-established. The BAPPEBTI licence from February 2003 was real, the domain dates to October 2004, and the firm was a real member of the Jakarta Futures Exchange, ICDX and the Indonesian clearing houses. It was once ranked among the better brokers on the ICDX. Roughly sixteen years of licensed operation is not a fly-by-night shell.
- There was a real, disclosed company with a real office. A named Indonesian legal entity, a named building on Jl. Kramat Raya in central Jakarta, a landline, and named directors. No hidden ownership and no borrowed brand.
- The regulator followed due process. The firm was frozen first and given a chance to remediate. Only when it failed to do so was the licence revoked. That is a supervisory sequence, not a raid, and it means someone at the regulator judged the problems fixable at first.
- It did not keep advertising a dead licence. This is the check we expected it to fail. The site carried its full licence list in October 2018, but after the revocation it went to a blank stub and never came back. We found no evidence it went on soliciting deposits as a BAPPEBTI-licensed broker after March 2019, which is what the worst offenders do.
- Some of the harm was blamed on individuals. Several Indonesian complaints name specific branch staff and business managers rather than head office, and at least one was settled privately between the parties. A firm can be badly run by its own salespeople.
- Be careful with the name. A separately licensed Indonesian broker once called PT Millennium Prudent Futures now trades as PT Prima Investama Berjangka under licence 93/BAPPEBTI/SI/12/2011. It is a different company that has changed hands, and nothing in this report belongs to it.
What the steelman cannot survive is the regulator's stated reason. Client margin placed in accounts BAPPEBTI never approved, a task force needed to hand money back, and 2,500 overseas clients disowned in public are not the marks of a broker that merely lost its way on compliance.
What would change this
What we would need to see to revise the verdict.
This verdict rests on documents that are unlikely to be withdrawn, but here is what would move it.
- Evidence that BAPPEBTI's task force actually returned client balances in full, or a published settlement showing the Taiwanese and Indonesian claimants were paid. That would leave the licence breach intact but remove the loss, and would cut the score materially.
- A BAPPEBTI decision reinstating or re-issuing a futures broker licence to PT Millennium Penata Futures, with the company appearing again on the register of licensed brokers.
- Documentary proof that the Taiwan operation was run by an outsider using the firm's name without its knowledge, rather than as its own branch. The company asserted this in 2016; a court finding to that effect would change how the largest single loss is attributed.
- The original Chinese-language recruitment material, showing either that NFA number 0263119 was never used by this operation, or that it was. We could not open it and have flagged the point as reported rather than proven.
- Confirmation from the Indonesian corporate registry of the incorporation date and current status of the legal entity. We could not open the registry, so the company's age rests on the domain and licence dates.
- Any sign the domain has been reactivated as a live deposit-taking site. That would turn a historical finding into an active warning and push this from a closed case to an urgent one.
Check it yourself
Official registers and warning lists. Verify every claim first-hand.
BAPPEBTI: revocation of the futures broker licence (6 March 2019)
The regulator's own notice cancelling this firm's licence and its representatives' licences.
BAPPEBTI: client claims process for MPF balances (14 March 2019)
Tells clients with money left at the firm how and when to file a claim.
BAPPEBTI: freezing of business activities (English, 12 November 2018)
States the violations found: customer enrollment and margin placement in unapproved accounts.
BAPPEBTI: register of licensed Indonesian futures brokers
All 67 currently licensed brokers. This firm is not among them.
NFA BASIC: the real holder of NFA ID 0263119
Shows the number belongs to Millennium Global Investments Limited of London.
Frequently asked questions
Quick answers about this broker’s safety.
Is Millennium Penata Futures a scam?
Yes. Indonesia's futures regulator BAPPEBTI revoked its licence on 6 March 2019 after proving it enrolled customers and placed client margin in accounts it had no permission to use. Thousands of clients, in Indonesia and Taiwan, were left unable to withdraw. The company no longer operates.
Is Millennium Penata Futures regulated?
No. It held BAPPEBTI licence 188/BAPPEBTI/SI/II/2003 from February 2003, but that licence was cancelled on 6 March 2019 and every broker representative licence at the firm was cancelled with it. We checked all 67 entries on BAPPEBTI's current register and the company is absent. It holds no financial licence anywhere.
Why did BAPPEBTI revoke the licence?
BAPPEBTI first froze the business on 12 November 2018. Its notice says an inspection proved the firm had broken commodity futures rules on customer enrollment and on placing client margin in broker accounts that had not been approved by the regulator. The firm failed to make the required corrections, so the licence was revoked four months later.
Can I still withdraw my money from Millennium Penata Futures?
Not from the company. It stopped trading in 2019 and the website has served nothing since. BAPPEBTI ran a claims process through its national customer complaint task force, but the filing window closed on 4 April 2019. Anyone still out of pocket should report the loss to BAPPEBTI and to their local police.
What happened to the Taiwanese clients?
More than 2,500 clients recruited through the firm's Taiwan branch bought fixed-return 'Security Deposit Accounts' between 2009 and 2016. Interest payments stopped after February 2016 and all withdrawals were frozen from March 2016, when the trading platform was taken offline. Investor groups put the deposits at roughly 163 million US dollars. The group chairman later said the Taiwanese agreements were not issued by his companies.
How old was this broker and did it have a real track record?
It was genuine and long-running. The BAPPEBTI licence dates to February 2003 and the mpf.co.id domain to October 2004, so the operation ran for roughly sixteen years. Its site claimed more than 20 years at the top of the Indonesian market, which overstates what we could evidence. Long history did not protect clients here.
Was it a clone of another company?
No. PT Millennium Penata Futures was a real, disclosed Indonesian company with its own licence, its own Jakarta office and named directors. It was not impersonating anyone. Its problems were with how it handled client money, not with a stolen identity.
Did it claim licences it did not hold?
Its Indonesian website listed only its real Indonesian permissions. However, investor groups documented the operation advertising US CFTC membership and NFA registration 0263119 in overseas recruitment material. We checked NFA's register: that number belongs to Millennium Global Investments Limited, an unrelated London firm. Treat any CFTC or NFA claim under this brand as false.
Is the mpf.co.id website still live?
No. It has served no real content since 2019 and today it fails to load at all because its DNS is misconfigured. The domain is still registered and paid up to 2027, and its DNS records were changed as recently as August 2026, so it could be switched back on. Treat any site that reappears there as untrustworthy.
Is there any current broker connected to this one?
Not that we could establish. Be careful with similar names: a separately licensed Indonesian broker once called PT Millennium Prudent Futures now trades as PT Prima Investama Berjangka under licence 93/BAPPEBTI/SI/12/2011. That is a different company under different ownership and nothing in this report applies to it.
What should I check before depositing with any Indonesian broker?
Look the company up by name on BAPPEBTI's own register of licensed futures brokers and match the licence number and address. Confirm your trading account is registered with the Jakarta Futures Exchange and the clearing house. Never pay margin into a personal bank account, and walk away from any promise of a fixed monthly return.
Someone offered to recover my Millennium Penata Futures money for a fee. Should I pay?
No. Collapses this large and this old are routinely mined by recovery scams that charge an upfront fee and deliver nothing. Legitimate routes are free: BAPPEBTI, the police, and your own bank's dispute process. Never pay a fee to unlock or recover funds.
What we recommend
The practical takeaway from everything above.
Treat any approach using this name or this domain as fraudulent.
- Do not send money to anything trading as Millennium Penata Futures or MPF. The company has held no licence in Indonesia since 6 March 2019 and is not on BAPPEBTI's register of licensed futures brokers.
- Be alert to a revival. mpf.co.id is still registered and its DNS was changed as recently as August 2026, even though it serves no website. A dormant domain with a decade of brand recognition is exactly what gets switched back on.
- Never pay a deposit into a personal bank account. That single instruction is what several of these victims have in common. A licensed Indonesian broker collects margin only into a segregated company account registered with the exchange and clearing house.
- Check any Indonesian broker on the regulator's own list before depositing. BAPPEBTI publishes all 67 licensed futures brokers with their licence numbers and addresses.
- If you lost money here, report it to BAPPEBTI, and to your local police and financial regulator if you were solicited outside Indonesia. The regulator's own 2019 notice confirms that revoking the licence did not extinguish the company's liability to its clients.
- Ignore anyone offering to recover these funds for a fee. Old collapses like this one attract recovery scams that target the same victims a second time.
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 27, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.