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MagnetFX -

Score

6.99 /10
Average

MagnetFX

Indonesia

2-5 years

Regulated in Indonesia

Forex Trading License (EP)

White label MT5

Regional Brokers

https://magnetfx.co.id

Influence

D

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Comparison

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Score

Regulatory Index6.40

Business Index6.69

Risk Management Index9.55

Software Index7.56

License Index6.40

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Website

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Broker Information

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Company Name

PT. Magnet Berjangka Indonesia

Company Abbreviation

MagnetFX

Platform registered country and region

Indonesia

Company website

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Company summary

Pyramid scheme complaint

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WikiFX Survey

Good

MagnetFX

Indonesia

WikiFX Verification

MagnetFX · Company summary
MagnetFX Review Summary
Founded2021
Registered Country/RegionIndonesia
RegulationBAPPEBTI, ICDX
Market InstrumentsForex, gold, silver, crude oil, US Index
Demo Account✅
Leverage/
Spread/
Trading PlatformMT5
Minimum Deposit/
Customer SupportTel: (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.

MagnetFX's homepage

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).

Regulated by BAPPEBTI
Regulated by 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❌
What Can I Trade on MagnetFX?

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 PlatformSupported Available Devices Suitable for
MT5✔PC, MobileExperienced traders
MT4❌/Beginners
MT5

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.

Deposit and Withdrawal

News

ExposureMagnetFX Review 2025: Institutional Audit & Risk Assessment

MagnetFX, operated by PT MAGNET BERJANGKA INDONESIA, currently holds a WikiFX Score of 6.99/10, indicating a moderately secure operational status within its primary jurisdiction. The entity is fully Regulated, holding active licenses from Indonesian regulatory bodies. Based on the 2025 audit data, MagnetFX represents a secure counterparty for traders within the Indonesian market, benefiting from verified local oversight. However, the brokerage exhibits potential inefficiencies regarding trading costs and cybersecurity features on its platform, suggesting it is a stable but potentially higher-cost venue associated with traditional brokerage models rather than low-cost discount trading.

WikiFX
2026-01-03 14:00
MagnetFX Review 2025: Institutional Audit & Risk Assessment
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User comment

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Comments

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Ievan
more than one year
Pialang MagnetFX benar-benar luar biasa! 🔥 Saya sudah coba produk Micro Account leverage 1:1000, dan hasilnya memuaskan banget. Risiko tetap low risk, cocok buat yang mau trading santai tapi tetap maksimalin potensi profit. Yang paling bikin kagum, margin levelnya gila banget — cuma 0.01 aja udah bisa 14.000! 😱 Support-nya juga cepat dan responsif. Pokoknya MagnetFX the best! 💪💯
Pialang MagnetFX benar-benar luar biasa! 🔥 Saya sudah coba produk Micro Account leverage 1:1000, dan hasilnya memuaskan banget. Risiko tetap low risk, cocok buat yang mau trading santai tapi tetap maksimalin potensi profit. Yang paling bikin kagum, margin levelnya gila banget — cuma 0.01 aja udah bisa 14.000! 😱 Support-nya juga cepat dan responsif. Pokoknya MagnetFX the best! 💪💯
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2025-11-03 23:09
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Rajesh Kumar Sharma
more than one year
So, their MT5 trading platform is rock-solid. Take my last trade, for instance – snagged some sweet pips on the EUR/USD pair, entered at 1.1200 and exited at 1.1250 without a hitch. Smooth sailing, no delays. But, and it's a bit of a 'but,' their commission is a tad steeper than what I found elsewhere. Ended up jumping ship to another broker
So, their MT5 trading platform is rock-solid. Take my last trade, for instance – snagged some sweet pips on the EUR/USD pair, entered at 1.1200 and exited at 1.1250 without a hitch. Smooth sailing, no delays. But, and it's a bit of a 'but,' their commission is a tad steeper than what I found elsewhere. Ended up jumping ship to another broker
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2024-02-01 18:47
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