Mahadana Review - Is It a Reliable Forex Broker? - WikiFX
Abstract：Mahadana is a regulated brokerage firm overseen by BAPPEBTI. It offers Loco London Gold, Stock Index Futures, and Forex trading on the MT4 platform.
| Mahadana Review Summary | |
| Founded | 2005 |
| Registered Country/Region | Indonesia |
| Regulation | BAPPEBTI |
| Market Instruments | Loco London Gold, Stock Index Futures, and Forex |
| Demo Account | ❌ |
| Leverage | / |
| Spread | / |
| Trading Platform | MetaTrader 4 (MT4) |
| Minimum Deposit | / |
| Customer Support | Contact form |
| Phone: +620212506633 | |
| Email: cs@mahadana.co.id | |
| Address: AXA Tower, 32nd & 29th Floor, Jl. Prof. Dr. Satrio Kav. 18, South Jakarta, DKI Jakarta 12940 | |
| Graha Aktiva Lt.9, Jln. HR Rasuna Said, South Jakarta, DKI Jakarta 12950 | |
Founded in 2005 and registered in Indonesia, Mahadana is a regulated brokerage firm overseen by BAPPEBTI (Badan Pengawas Perdagangan Berjangka Komoditi). It offers market instruments including Loco London Gold, Stock Index Futures, and Forexon the MetaTrader 4 (MT4) platform. What's more, the firm provides segregated client accounts.
Pros and Cons
| Pros | Cons |
| Regulated by BAPPEBTI | Limited info on accounts |
| Diverse customer support channels | Limited info on trading fees |
| MT5 platform | No demo accounts |
Is Mahadana Safe and Legit?
Yes, Mahadana is regulated under the Badan Pengawas Perdagangan Berjangka Komoditi Kementerian Perdagangan (BAPPEBTI).
| Regulated Country | Regulated Authority | Current Status | Regulated Entity | License Type | License Number |
 | Badan Pengawas Perdagangan Berjangka Komoditi Kementerian Perdagangan (BAPPEBTI) | Regulated | PT. Mahadana Asta Berjangka | Retail Forex License | 834/BAPPEBTI/PN/11/2005 |
Besides, Mahadana provides a Segregated Account which can only be used to settle obligations arising from the customer's transaction request. In other words, the broker does not have the legal authority to use customer funds as part of the company's assets, and these segregated accounts are directly supervised by Bappebti.
What Can I Trade on Mahadana?
On Mahadana, you can trade with Loco London Gold, Stock Index Futures, and Forex.
| Tradable Instruments | Supported |
| Forex | ✔ |
| Loco London Gold | ✔ |
| Stock Index Futures | ✔ |
| Cryptocurrencies | ❌ |
| Bonds | ❌ |
| Options | ❌ |
| ETFs | ❌ |
| Mutual Funds | ❌ |
How to Open a Mahadana Account?
The first way is to fill out the transaction account opening form and customer agreement using a printed book, while the second way is to fill in all the data and approval for the transaction account opening electronically online through the Client Area.
Trading Platform
| Trading Platform | Supported | Available Devices | Suitable for |
| MT4 | ✔ | Windows | Beginners |
| MT5 | ❌ | / | Experienced traders |
Deposit and Withdrawal
To make a deposit on the transaction account, the Customer only needs to make an interbank transfer to the PT. Mahadana Asta Berjangka by including the account number information when making the transfer and informing the deposit to PT. Mahadana Asta Futures. After the deposit information is received, PT. MAB will immediately check and book the deposit in the Customer's transaction account if there is a goodfund.
Customers can withdraw investment funds contained in their transaction account at any time on weekdays. PT. Mahadana Asta Berjangka will carry out the transfer process of withdrawing the funds for a maximum of D+2 from the withdrawal time that has been made by the Customer.
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