Reason for this visit

Bank Indonesia (the Central Bank of Indonesia) is mandated to establish and maintain the stability of the Rupiah, while the Commodity Futures Trading Regulatory Agency (BAPPEBTI), which operates under direct supervision of the Ministry of Finance, regulates all entities operating in Indonesia‘s financial markets, including forex and CFD brokers. In 2013, the Indonesian government began a strict crackdown on numerous fraudulent brokers targeting Indonesian citizens. This, however, led to many overseas brokers closing their websites in the country. Subsequently, the Indonesian government decided to reopen access to overseas brokers on the condition that they establish local offices and comply with BAPPEBTI guidelines (where applicable). However, these conditions proved to be temporary, and currently Indonesian investors are free to choose any international broker. With a population of nearly 270 million, Indonesia is the world’s largest Muslim country. Therefore, all forex brokers in the Indonesian market offer Sharia-compliant Islamic trading accounts. To help investors and practitioners better understand the countrys forex brokers, WikiFX survey team plans to conduct on-site visits to the local companies.

On-site visit

In this issue, the survey team went to Indonesia to visit forex broker SFI as planned according to its regulatory address that Gold Coast Office, Eiffel Tower, Level 1, Unit C, Jalan Pantai Indah Kapuk, Jakarta 14470, Indonesia.

A seasoned and professional inspection team, committed to safeguarding investor interests, conducted a meticulously planned on-site verification of the forex broker SFI at Gold Coast Office Eiffel Tower in Jakarta.

The target location is situated in Jakartas central business district, boasting a highly strategic geographical position. The designated building, “Eiffel Tower,” exhibits well-maintained exterior surroundings with impeccable cleanliness, exuding an upscale business ambiance.

Subsequently, the investigators proceeded to explore the building‘s interior, and discovered that entering the premises requires strict security protocols, including presenting valid identification and completing advance appointment registration. Upon successful entry into the lobby, the team used the indoor directory board to accurately locate SFI’s office at Unit C on the 1st floor. The company‘s signage was clearly visible in the building’s public areas.

To gain a more comprehensive understanding, the survey team proceeded to Unit C on the 1st floor. Upon arriving at Unit C‘s entrance, they confirmed this to be SFI’s exclusive office space. After making contact, they were granted access to the office area. On-site observation verified that the office is solely occupied by SFI and not a shared workspace. However, due to the companys stringent internal security measures, the team was unable to enter into the office area to conduct detailed assessments of room quantities or workstation capacity. Nevertheless, they were able to confirm the interior maintains a clean and professional environment.

Through the on-site investigation, it is confirmed that the broker maintains a physical presence at the location.

Conclusion

The survey team went to Indonesia to visit forex broker SFI as scheduled and found the company at the regulatory address. It indicates that the broker has a physical office at the place. Meanwhile, investors are advised to make a sensible decision following much deliberation.

Disclaimer

The content is for informational purposes only and shall not be taken as a final order for making a choice.