MagnetFX Spreads, leverage, minimum deposit Revealed

WikiFX | 2025-05-23 10:02

Abstract：MagnetFX, established in Indonesia, is a regulated broker under BAPPEBTI and ICDX. It offers trading in forex, gold, silver, crude oil, and the US Index via the MT5 platform, providing a risk-free demo account and streamlined online deposit/withdrawal processes with benefits for Bank BCA customers.

MagnetFX Review Summary
Founded	2021
Registered Country/Region	Indonesia
Regulation	BAPPEBTI, ICDX
Market Instruments	Forex, gold, silver, crude oil, US Index
Demo Account	✅
Leverage	/
Spread	/
Trading Platform	MT5
Minimum Deposit	/
Customer Support	Tel: (021) 250 6336

MagnetFX Information

　　MagnetFX, established in Indonesia, is a regulated broker under BAPPEBTI and ICDX. It offers trading in forex, gold, silver, crude oil, and the US Index via the MT5 platform, providing a risk-free demo account and streamlined online deposit/withdrawal processes with benefits for Bank BCA customers.

Pros and Cons

Pros	Cons
Regulated by BAPPEBTI and ICDX	Limited information on trading conditions
Support MT5
Risk-free demo accounts

Is MagnetFX Legit?

　　MagnetFX has Retail Forex Licenses regulated by BAPPEBTI and the Indonesia Commodity and Derivatives Exchange (ICDX).

What Can I Trade on MagnetFX?

　　MagnetFX offers a variety of trading options, including over 20 Forex pairs, Gold & Silver commodities, Crude Oil commodities, and the US Index. They allow access to global markets with fast execution and operate under Indonesian regulations, with easy online account opening.

Tradable Instruments	Supported
Forex	✔
Commodities	✔
US Index	✔
Stocks	❌
Cryptocurrencies	❌
Bonds	❌
Options	❌
ETFs	❌

Account

　　MagnetFX offers a demo account that is free of charge and uses virtual funds, allowing users to learn and simulate trading without risk. They offer live trading accounts as well, where users can trade with real capital.

Trading Platform

Trading Platform	Supported	Available Devices	Suitable for
MT5	✔	PC, Mobile	Experienced traders
MT4	❌	/	Beginners

Deposit and Withdrawal

　　MagnetFX's deposit and withdrawal processes are conducted online through their client cabinet, requiring users to log in, select their desired transaction, specify bank and amount in USD, and submit proof for deposits. Bank BCA customers benefit from instant, free top-ups by including their account number in the transfer description.