Risk scorecard
Each area is scored 0 (clean) to 10 (worst). Higher means more risk.
Regulation
3/10 · LowA genuine BAPPEBTI licence confirmed on the regulator's own register with segregated client accounts, though Indonesia is a mid-tier jurisdiction with mainly domestic recourse.
Identity & transparency
3/10 · LowEntity, address, phone, email and website all match the government register and the app developer name, offset slightly by an undisclosed history of five brand names.
Withdrawals & conduct
3/10 · LowNo fund-integrity complaints found on any platform, but the client base is too new for the absence to prove payouts work.
Reputation
5/10 · ModerateAlmost no independent footprint: four app-store ratings, no forum discussion, and one unverified negative field-survey note from a third-party directory.
Website claims
4/10 · ModerateLicence numbers are accurate and published with verify links and no invented founding year, but the no-slippage promise is absolute and the OJK and central-bank letter references sit alongside licences.
Operational history
5/10 · ModerateComputed track record about two years from the April 2024 domain, with the platform live only since December 2025 and the operating entity undatable on a public registry.
Who they are
A quick desk file on the company behind the brand.
- Brand: RRFX, live since December 2025.
- Legal entity: PT RRFX Investasi Berjangka, previously PT Delapan Belas Berjangka (18FX), PT Tifia Finansial Berjangka, PT Teknologi Finansial Berjangka and PT Realtime Forex Futures.
- Registered: Ruko Soho Rodeo Drive Blok A No. 20 (SRD-020), Kamal Muara, Penjaringan, North Jakarta 14470, Indonesia. Branch office at Mangkuluhur City Tower One, Jakarta Selatan.
- Website: rrfx.co.id, with the client platform at app.rrfx.co.id.
- Main licence: BAPPEBTI futures brokerage licence 192/BAPPEBTI/SI/II/2003, plus alternative-trading permit 1519/BAPPEBTI/SP/4/2007.
- Exchange and clearing: JFX member SPAB/169/JFX/05/2018 (Active), and it also claims KBI, ICDX and ICH membership.
- Offers: forex, gold and oil, and stock indices on MetaTrader 5, leverage up to 1:200.
- Not accepted: residents of the United States, Hong Kong, Iran, North Korea, and the Canadian provinces of British Columbia, Quebec and Saskatchewan.
- Age claim: none. The site advertises no founding year, which is to its credit.
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
JFX
ICDX
KBI (Kliring Berjangka Indonesia)
ICH (Indonesia Clearing House)
OJK (Otoritas Jasa Keuangan)
Bank Indonesia
Found by our investigation (1) — the broker does not list these on its own site
BAPPEBTI
Found by us — not listed by the broker
Why we reached this verdict
How the evidence adds up.
The published figure of 65 percent is a profile score, not a finding of wrongdoing. Here is the honest split.
- What we verified positively. We opened BAPPEBTI's own register entry for this broker. It records licence 192/BAPPEBTI/SI/II/2003, the address on the website, the phone number, the email [email protected] and the website rrfx.co.id. Everything lines up, so this is not a company wearing somebody else's paperwork.
- Client-money protection exists. The register lists segregated client accounts at BRI, BCA, CIMB Niaga, Mandiri, BNI and China Construction Bank Indonesia, and names 13 licensed representatives. The Jakarta Futures Exchange separately shows the membership as Active.
- Nothing adverse turned up. No Indonesian illegal-entity or investor-alert listing, no enforcement action, and no complaint anywhere about a withdrawal being refused, an account being frozen or a fee being demanded before funds were released.
- Why the score is still 65. The evidence on its own supports about 36 percent. Our rules raise any broker whose track record is under three years, because a clean record means least when there is barely any record. The rrfx.co.id domain was registered on 29 April 2024 and the platform launched in December 2025.
- The age figure is an upper bound. Indonesia's company registry is not open to public search, so we could not date the incorporation of the operating entity. The licence itself dates from February 2003 and has passed through five company names, which evidences permission rather than trading history. Read the two-year figure as the age of this brand and website, not of the licence.
- Repeated rebranding is worth knowing about. Five names on one licence is unusual, and the RRFX site does not mention its own history. We found no warning, sanction or scam record attached to any of the former names, so nothing carries over. It is a transparency point, not a fraud point.
- Minor claim issues. The site promises no slippage, which no broker can actually guarantee, and it presents letter references from the financial services authority and the central bank alongside its licences in a way that may read as extra authorisations.
Evidence ledger
Every finding, with its source and how strongly it points.
E1BAPPEBTI's own futures-broker register lists PT RRFX Investasi Berjangka under licence 192/BAPPEBTI/SI/II/2003 with the address, phone 021-50322008, email [email protected] and website https://rrfx.co.id. Every identity leg matches the broker under investigation, so the licence is genuinely this company's.
Hard proofBAPPEBTI futures-broker registerE2The same register entry records an alternative-trading permit 1519/BAPPEBTI/SP/4/2007, segregated client accounts at BRI, BCA, CIMB Niaga, Mandiri, BNI and China Construction Bank Indonesia, and 13 licensed brokerage representatives by name.
ModerateBAPPEBTI futures-broker registerE3The Jakarta Futures Exchange member register shows RRFX Investasi Berjangka with status Active, membership number SPAB/169/JFX/05/2018, email [email protected] and website https://rrfx.co.id. This is a second independent register confirming the same identity.
E4The broker's own legality page publishes each licence number and links directly to the regulator's register entry, which is the behaviour of a firm expecting to be checked rather than one hiding.
ModerateRRFX legality pageE5Indonesia's domain registry records rrfx.co.id as registered on 29 April 2024. The client platform launched in December 2025, so the brand has a track record of roughly two years, well short of the licence date it sits on.
ModeratePANDI domain registry recordE6The predecessor brand domain 18fx.co.id was registered on 30 October 2024 and now redirects permanently to rrfx.co.id, on the same nameservers and with the same registry update timestamp. This confirms one operation renaming itself rather than two separate firms.
E7The regulator's register itself names the chain of former companies behind this licence: PT RRFX Investasi Berjangka, formerly PT Delapan Belas Berjangka, formerly PT Tifia Finansial Berjangka, formerly PT Teknologi Finansial Berjangka, formerly PT Realtime Forex Futures, formerly PT Bima Cakra. Five renames on one licence.
ModerateBAPPEBTI futures-broker registerE8Searches of Indonesian illegal-entity and investor-alert publications, and of international warning lists, returned no entry naming RRFX, rrfx.co.id or any of the former company names. No enforcement action or sanction was found either.
ModerateRegulator warning-list and illegal-entity sweepE9A complaint sweep across app stores, Reddit and Indonesian trading forums found no report of a refused or delayed withdrawal, no frozen account with a balance on it, and no demand for an extra payment to release funds.
E10The Google Play listing is published by PT RRFX Investasi Berjangka, matching the licensed entity, with over 1,000 downloads and no user reviews at all, consistent with a platform launched in December 2025.
ModerateGoogle Play listingE11The Apple App Store listing carries the seller names PT RRFX Investasi Berjangka and PT. Delapan Belas Berjangka, independently corroborating the rebrand, and shows only four ratings averaging 4.0 with no complaints about funds.
E12A third-party broker directory estimates the operating period at one to two years and attaches a negative field-survey note. We treat this as an unverified lead rather than a finding, and the licensed address it questions is the one BAPPEBTI records.
WeakA third-party broker directoryE13The company profile page advertises no founding year and makes no claim of a long history, so there is no conflict between an advertised age and the age we could verify.
ModerateRRFX company profile pageE14The same page promises No Slippage as an unqualified commitment, which no broker can guarantee in volatile markets, and advertises withdrawals processed within 24 working hours.
E15An archived copy of the earlier Tifia-branded site from March 2022 publishes registration 001/BAPPEBTI/SP-PN/01/2022 rather than the 2003 brokerage licence, so we could not tie that predecessor domain to this licence and left it undated.
The other side
The strongest case in this broker’s favour.
The case for RRFX being exactly what it says it is, is strong.
- It passes the test that catches most fakes. The regulator's own register names this company, this address and this website. Clones fail that test immediately.
- BAPPEBTI is a real statutory regulator under Indonesia's Ministry of Trade, and the licence has been continuously held since February 2003. That is a genuine, unexpired national licence, not an offshore certificate bought online.
- Segregated client accounts at six major banks, plus 13 named licensed representatives, are expensive and verifiable commitments that pure scams do not make.
- The mobile apps are published under the company's own legal name on both Google Play and the App Store, matching the licensed entity.
- There is not one complaint about money failing to come back. Not one. For a fraud operation taking deposits since December 2025, that silence would be unusual.
- It makes no false age claim. Many suspect brokers invent a decade of history; this one advertises no founding year at all.
- Rebranding a long-held licence is common and lawful in the Indonesian futures industry, and the old domain redirects openly to the new one rather than being hidden.
What would change this
What we would need to see to revise the verdict.
Concrete things that would move this report in either direction.
- Downward, toward a clean rating: twelve to eighteen more months of trading with independent reviews from real clients confirming that withdrawals are paid, would remove the young-profile adjustment.
- Downward: a public Indonesian company registry record dating the operating entity, which would let us evidence the longer history the licence implies.
- Downward: an accessible ICDX member record confirming membership 063/SK/ICDX/DIR/VIII/2025, which we could not open.
- Upward, toward a scam verdict: any credible, specific report of a withdrawal being refused, an account closed with a balance on it, or a payment demanded before funds are released.
- Upward: a BAPPEBTI sanction, a suspension of the licence, or an entry on an Indonesian illegal-entity list naming rrfx.co.id.
- Upward: the BAPPEBTI or JFX register ceasing to show this company, or showing a different website than rrfx.co.id.
Check it yourself
Official registers and warning lists. Verify every claim first-hand.
BAPPEBTI futures-broker register entry
The Indonesian regulator's own record of the licence, address and website.
Jakarta Futures Exchange brokers list
Exchange member list showing RRFX Investasi Berjangka as Active.
RRFX legality page
The licence numbers the broker itself publishes, with its verify links.
RRFX Mobile Trading on Google Play
App published under the licensed company name.
Frequently asked questions
Quick answers about this broker’s safety.
Is RRFX a scam?
We found no evidence that it is. RRFX is a genuinely licensed Indonesian futures broker, confirmed on BAPPEBTI's own register and on the Jakarta Futures Exchange member list. We publish it at 65 percent risk because the brand is under three years old, not because we found misconduct.
Is RRFX regulated?
Yes. PT RRFX Investasi Berjangka holds BAPPEBTI futures brokerage licence 192/BAPPEBTI/SI/II/2003 and alternative-trading permit 1519/BAPPEBTI/SP/4/2007. We opened the register entry and the address, phone, email and website all match the company's own site.
Why is the risk score 65 percent if the licence is real?
Because the operating history is short. The rrfx.co.id domain was registered in April 2024 and the platform launched in December 2025. Our rules raise the score for any broker under three years old, since a clean record means little when there is hardly any record yet.
Can I withdraw my money from RRFX?
We found no complaint from anyone saying a withdrawal was refused or delayed. That is reassuring but not proof, because the client base is still small. Test a small withdrawal early before depositing a large amount.
Is my money safe with RRFX?
The regulator records segregated client accounts at six Indonesian banks, which is real legal protection under Indonesian futures rules. That protection is domestic, so recourse runs through BAPPEBTI in Jakarta rather than through a European or Australian compensation scheme.
Who owns and runs RRFX?
The operating company is PT RRFX Investasi Berjangka, based in North Jakarta. BAPPEBTI's register names 13 licensed brokerage representatives. Shareholder details are not published in the public register, since Indonesia's company registry is not open to public search.
How old is RRFX?
The brand is new. The website dates from April 2024 and the platform launched in December 2025. The licence behind it has existed since February 2003, but it has been carried by five differently named companies, so it evidences permission rather than a 23-year trading record.
Was RRFX previously called something else?
Yes. BAPPEBTI's register itself lists the former names: PT Delapan Belas Berjangka, which traded as 18FX, and before that Tifia Finansial Berjangka, Teknologi Finansial Berjangka, Realtime Forex Futures and Bima Cakra. The old 18fx.co.id domain now redirects to rrfx.co.id.
Does the rebranding history mean RRFX is hiding something?
Not on the evidence we found. We checked the former names for regulator warnings, sanctions and scam reports and found none, so there is no history being escaped. It is still worth knowing that this is the fifth brand on one licence, and the site does not mention it.
Is RRFX a clone of another broker?
No. Clones fail when you check the register, because the licence turns out to belong to a different company with a different website. Here the BAPPEBTI and JFX entries both name this exact company and the website rrfx.co.id.
What is a BAPPEBTI licence actually worth?
BAPPEBTI is Indonesia's statutory commodity futures regulator under the Ministry of Trade, so it is real regulation with segregated-account rules and a complaints process. It ranks below authorities like the FCA or ASIC, and it protects Indonesian residents primarily, offering little practical recourse to clients abroad.
What should I check before depositing with RRFX?
Open the BAPPEBTI register entry and confirm the licence number, company name and website match. Deposit only to the segregated company bank accounts listed there. Start with a small amount and withdraw once before scaling up.
What do I do if RRFX will not release my funds?
Stop sending money immediately, especially if you are asked for a tax, fee or extra deposit to unlock a withdrawal, which is always a fraud pattern. Collect your amounts, dates and ticket references, complain in writing to the broker, then escalate to BAPPEBTI.
What we recommend
The practical takeaway from everything above.
Treat RRFX as a licensed but unproven broker, and size your risk accordingly.
- Verify it yourself before depositing. Open the BAPPEBTI register entry and check that the licence number, address and website match what the site shows you.
- Deposit only to the segregated company accounts listed on the regulator's register. Never send money to a personal account, a staff member or a wallet address.
- Start small and test a withdrawal early, with a modest amount, before committing serious capital. That is the single most useful check any client can run.
- Be sceptical of the no-slippage promise and of high leverage. 1:200 will empty an account quickly.
- If a withdrawal is delayed or anyone asks for a tax, fee or deposit to release your funds, stop paying immediately and complain to BAPPEBTI, keeping records of amounts and dates.
- Our own record for this broker needs correcting: see the profile discrepancies noted in this report.
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 22, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.