ICDX licence 189/SPKB/ICDX/DIR/II/2019

Nothing found in this review supports that. The company is a named Indonesian legal entity at a verifiable Jakarta office, holding a domestic futures brokerage licence and memberships of two regulated exchanges and two clearing houses, running a single mainstream platform and clearing client money centrally. Those are not the characteristics of a fraud.

The genuine criticisms are disclosure ones: no published client agreement, terms and conditions or risk disclosure, no fee or spread schedule, no withdrawal terms, and no corporate registration number. Those gaps deserve questions before you deposit, but they are a transparency failing, not evidence of dishonesty.

The published requirements are age and identity. The minimum age is 17, and applicants under 21 must supply a parental or guardian consent letter, downloadable during registration. Identity verification is compulsory: without it the company will not create a trading account or accept a deposit. Verification usually takes around 30 minutes, or up to a day for documents submitted at night or over a weekend.

There is no stated limit on how many accounts one client may hold.

Not published. The company advertises "low trading costs" and describes its GOFX Micro tier as having "medium" fees and benefits and its GOFX Mini tier as having "more maximal" ones, but it puts no spread table, commission per lot, swap rate or overnight financing charge on its public site.

For an exchange-traded product the contract specifications exist and are knowable, so ask for the full cost schedule before opening an account.

In practice it is an Indonesian service. The website is published only in Indonesian, the deposit accounts are Indonesian bank accounts, support runs on Jakarta phone lines, and the site's legal notice states that PasarFX's services are subject to Indonesian law.

That said, the company publishes no list of restricted countries and its registration form has no country selector at all, so it makes no explicit statement about which jurisdictions it will or will not onboard.

The structural protection is genuine. The company states that client funds are held in segregated accounts and placed with the Indonesia Clearing House, which handles risk management, margining and settlement for the ICDX contracts it offers. Exchange-cleared, centrally-settled trading is materially safer than the offshore dealing-desk model, because the broker is not the counterparty to your position.

What that does not do is protect you from market losses, which on leveraged futures can be substantial, and it does not extend an international compensation scheme to a client outside Indonesia.

This is one of the real gaps in the company's disclosure. It publishes no withdrawal procedure, no processing time, no withdrawal fee and no minimum or maximum amount anywhere on its public site, and there is no client agreement or fee schedule online to fall back on.

Ask for the withdrawal terms in writing before you fund an account, and treat any figure quoted verbally as something to get confirmed on paper.

By bank transfer to the company's segregated accounts. Three banks are published, each with a Rupiah and a US dollar account: Bank Central Asia (KCU Sudirman), Bank CIMB Niaga (KC Menara Sentraya) and Bank Artha Graha Internasional (KC Sudirman), all in the name of PT Pasar Forex dan Komoditi Berjangka.

No cards, e-wallets or cryptocurrency channels are offered. Identity verification must be completed before an account can be funded.

The GOFX product family traded multilaterally on the ICDX exchange: daily rolling gold contracts (GOLDUD, GOLDGR and GOLDID), crude oil futures (COFR and COFU), and 33 currency contracts covering the majors, the main crosses and a set of Asian and emerging pairs including USD/CNY, USD/SGD, USD/INR, USD/HKD and USD/KRW.

There are no shares, indices or cryptocurrencies under the broker's own licence. The company says it partners with a separate application for access to US shares, which is a different service from a different provider.

MetaTrader 5, and nothing else. The site links the official MetaQuotes downloads for Windows, macOS, Linux, Android and iOS, and the company also publishes its own PasarFX apps on Google Play and the Apple App Store. There is no MetaTrader 4, no cTrader and no proprietary web terminal.

The only leverage figure the company publishes is for crude oil contracts: 1:25, against a margin requirement of roughly 4 percent. It publishes no leverage figure for its gold or currency contracts. Because these are exchange-traded futures rather than over-the-counter CFDs, leverage is set by the contract specification rather than chosen by the client, and the very high ratios advertised by offshore CFD brokers do not apply here.

50 US dollars for a GOFX Micro account, and 500 US dollars for a GOFX Mini account. A GOFX Trial demo account is free and requires no deposit at all.

The operating company is PT Pasar Forex dan Komoditi Berjangka, an Indonesian limited company (Perseroan Terbatas) with its head office at Soho Capital, floor 39, unit 05, Jl. Letjen S Parman Kav 28, Jakarta Barat 11470. The same entity name appears in the site footer, on the About page, on the segregated bank accounts used for deposits and on each licence record, with no second or offshore entity anywhere in the chain.

The company does not publish a corporate registration number, and Indonesia has no openly searchable public company register, so the entity could not be cross-checked against a corporate registry for this profile.

Yes. PasarFX is the brand of PT Pasar Forex dan Komoditi Berjangka, which states on its own About page that it holds futures brokerage licence 003/BAPPEBTI/SP-PN/04/2022 dated 26 April 2022 and operates under the supervision of BAPPEBTI, Indonesia's commodity futures regulator. It is also a member of the ICDX and JFX exchanges and of the ICH and KBI clearing houses.

Two honest qualifications. First, that supervision is domestic: BAPPEBTI is a national commodity futures authority, not a top-tier international financial regulator, and it does not carry a cross-border investor compensation scheme. Second, this profile was not able to confirm the licence against the regulator's own public register, so the confirmation rests on the licence records and the company's own disclosure rather than on a register lookup made here.