My trading opportunities and experience from Indonesia
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  1. #1
    Trader Sascha's Avatar
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    My trading opportunities and experience from Indonesia

    hello, my name is Sascha. i come from Indonesia, a maritime country which is close to Australia, Malaysia, Brunei, and Philippines. i am very happy to explain my trading experience in Indonesia. i was the third Indonesian who enter this contest.

    as an Indonesian, i can only access the official website RoboForex only via proxy just using the IP address from abroad for access to the broker outside Indonesia with the IP address has been blocked by the government. i think it has also been described by other member who enter this contest. i use a proxy and browser Mozilla Firefox. i use a laptop recently not PC because my old one is damaged and can not be used anymore.



    on this occasion, i will sort the questions and discuss them one by one. the questions are:

    1. is the Indonesian people know much about forex?
    2. is the Indonesian people know the differences between forex and stocks?
    3. why does Indonesia people afraid to forex trading?
    4. what are the differences between the local broker and foreign broker?
    5. how big is the experience of consultants who working at a local brokerage?
    6. why forex trading is not too interested in a lot of people in Indonesia?
    7. why the Indonesian are easily tempted by a similar business like trading forex?
    8. when did you begin to join in this forex business?
    9. when did you join to this forum or broker?
    10. why are you interested in running this forex business?
    11. what makes you stay this long in the business of forex?
    12. where did you learn about forex trading?
    13. how can you join a broker and RoboForex forum?
    14. when did you usually trading? which trading sessions do you usually choose?


    Alright, let’s answer them all now.

    1. is the Indonesian people know much about forex?
    in Indonesia, people are generally not many people know about forex. Indonesia people know more about the stock rather than forex. if there is any who know about the forex, common people would think that only the rich people and that has a lot of money that could follow this forex investment.

    if Indonesian people know the high risk forex, Indonesian people in general do not take the step of investing. Indonesian people prefer another way of investments such as deposits, MLM business, referrals, social gathering, etc. most people have more money Indonesia if they prefer a different business such as opening services, shops, restaurants, small businesses, wholesalers, etc.

    2. is the Indonesian people know the differences between forex and stocks?
    most Indonesian if asked what is forex, they will answer this stock or that stock. in Indonesia, an understanding of the forex is very narrow because of the media that was broadcasted on television or the daily newspaper is not the economy that comes to forex but stocks, such as Dow Jones, Nasdaq, SNP500, Nikkei, and Hangseng.

    3. why does Indonesia people afraid to forex trading?
    one other thing that made the Indonesian people are afraid to do business this is, very large losses that could occur in a short time. and with a minimum deposit owned by the average broker in Indonesia is very high, difficult for the people to follow the business because not everyone in Indonesia have a high income. if you search the internet, you will know how much is the minimum deposit to participate in this business.



    translation to English:

    About the scam investment, OJK called Indonesian people were easily tempted

    Bogor, Kompas.com – Otoritas Jasa Keuangan (OJK) in Indonesian or Financial Fervices Authority in English, record up to now there are 406 companies that indicated as a store of illegal funds or scam investment.

    Director of Policy and Investigation Support in OJK, Tongam L. Tobing said, high profits income made public were bound to participate in the such scam investment.

    “Indonesian people are easily tempted. offered by high interest investment, high-reward payment, it makes such people get into the business easily.” said Tongam, in Bogor, at Saturday (June 4th 2016).

    “ for example, the CSI (Cakrabuana Sukses Indonesia) in Indonesian which located in Cirebon, they offered the profits of 5 percent per month. it doesn’t make any sense, how is it possible? but now they can run the business smoothly, he recruited a new person, he can be paid if he recruit new people.” Tongam said.

    4. what are the differences between the local broker and foreign broker?
    yes, at first roughly 2010 to 2013, brokers in Indonesia which have complicated terms and high minimum deposit, the smallest 50 million of IDR. But beginning in 2014, the brokers provide micro accounts other than standard, with a minimum deposit of 5 million of IDR. It still doesn’t attract most people Indonesia when compared with foreign brokers. it’s because most foreign broker has no minimum deposit limit, but the smallest of a dollar. and even then it’s impossible to make a deposit of 1 dollar because it’s only an example for clients to deposit their money at any of it.



    on the foreign brokers, there are a lot of advantages obtained by Indonesian people compared to the local broker. There are some comparisons which í’ll explain below one by one.

    1. the commission per transaction
    i rarely find any brokers with commission payments, unlike the local broker that requires the client to pay a commission on each transaction lot. and its number is huge and this is very detrimental to the client. for a standard account with a deposit of 50 million of IDR, the commission per transaction is 50 USD. the divisions are also existed, which is 30 USD for the company and 20 USD to people who trade the money. Clients will only get the profit.

    2. high and wide spread
    as we know, for example broker of RoboForex has fixed and dilated spread. however when the market moves, the system will remain and spread won’t change. if the initial fixed spread of 2 pips, no matter even how fast markets moves, the spreads will remain 2.

    unlike the local brokers who have high spreads and when the market is moving fast, the spreads will keep changing or widened. for a standard account, spread for major pairs are usually 4 or 5 pips. and when the market moves fast, it can rise up to 7 or 8 pips. very unreasonable.

    3. not providing leverage options
    in the local broker, although they now provide a micro account, it still remains give the clients of the leverage of 1: 100. the client doesn’t have the freedom to choose the leverage because they don’t provide that option for clients. unlike foreign brokers that gives its clients the freedom to choose the leverage that in accordance with the risk management that their clients use. there’s no system of coercion on the foreign brokers.



    4. can’t request a withdrawal from website
    if you look at websites on the local brokers, there we won’t find the tab or the option to withdraw our money from the trading account. because generally if clients want to withdraw their money, they have to contact the company in advance and it must be carried out during working hours. unlike most foregin brokers, we can draw our money directly from the broker's website without having to contact the accountant with regard to the process of withdrawal.

    5. don’t provide any other payment system
    brokers in Indonesia has only one method of payment either for withdrawal or for deposit. yes, of course it’s only using bank transfer. even i admit that this method is very secure but not too flexible for some people. in contrast to foreign brokers who provide alternative payment methods such as WebMoney, FasaPay, NETELLER, QIWI, etc. i personally prefer FasaPay payment method for fast, secure, and easy way to deposit or withdraw money.


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    Last edited by Sascha; 08-15-2016 at 12:00 PM.

  2. #2
    Trader Sascha's Avatar
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    hello,

    i'm continuing my work because the previous one is on progress. but now i'm all set and the material has been made. check this out for more stories.

    6. rules and forcible agreement
    if on the foreign brokers, each client must read every company’s rules and the agreement between the company and client. we must fully understand the we must approve the account creation and understand everything by reading all information very carefully. unlike a local broker who just give some papers which contained about their company, a basic understanding of forex, and terms and agreement of the company that includes all incriminating agreements and make our clients as though will depend on the broker. if we are lucky, the brokers will also benefit. but if we lose, the broker won’t care any matters. of course, we suffer losses that would be an advantage for them because of the money we lost it will be transferred or shared for them indirectly.

    7. live chat and customer care
    for RoboForex broker, we can use the live chat 24/5 and provides a wide languages in accordance with language that we understand. customer care is also quickly reply to our response by email if we have a problem or want to ask about something.

    unlike the local brokers who only have a live chat during the 8/5 and only provide one language choice, of course it’s Indonesian. since most brokers only intended for Indonesians itself. with this, it’s clear that local brokers don’t want to compete with foreign brokers out because the locals were already lost much in any case than the foreign broker.

    8. cheating platforms
    the platform which is owned by local brokers is very underhanded, especially when the news is in progress or will be released. the market will stop moving for a few minutes and then jump high or fall down in the massive amount. it’s of course detrimental to the client because the client doesn’t have the opportunity to take action within that critical moment.

    9. not providing many choices of accounts and platforms
    in the local broker, until now they only provides 2 types of accounts such as standard account and micro account. for the choice of platform that i know of only two as well, namely the mt4 platform and webtrader. in contrast to the foreign brokers who has many types of accounts and platform selection. for example on RoboForex, it has a standard account type, ECN, cent, Copyfx, Ramm, etc. foreign brokers also have many type of platforms, such as RoboForex who have mt4 platform, MT5, ctrader, WebTrader, iphone / ipad trader, and android trader.



    10. sources of analysis are less accurate
    most sources of analysis given by the local brokers sourced from the internet or websites that informed economic news which in my opinion is less accurate. rarely do I find a broker who has the analytical team who share their analysis on their broker's website. unlike RoboForex for example, has a team of its own analysis and using two methods, namely technical and fundamental analysis. analysis is also given very full and accurate in my opinion.



    11. doesn’t provide Islamic accounts
    the majority of the population in Indonesia are Muslims and, in Islam we shouldn’t get any benefit that is not from our efforts in trading, such as swaps. Islam also prohibits the deposits in bank because of the profits that come from bank interest rate. but this doesn’t make local brokers provides that kind of Islamic accounts and still use a regular account with commissions and swap.

    unlike foreign brokers which is largely managed by non-Muslims. they even provide the type of Islamic account for Muslims clients because they must be knew that Muslims are not allowed to trade and get swaps. Therefore foreign brokers are more in demand by many Indonesian people such as RoboForex.



    12. don’t have a 5th decimal price quotes
    although the account which we choose to trade in local broker is a micro account, nonetheless we will use the 4th decimal price quotes. i never knew if there were any local brokers who has an account type 5th decimal price quotes because they don’t have a cent account types, unlike foreign brokers.

    13. never organize contests
    i’m sure you all agree with me that most contests that we are encountered on the internet and various websites hosted by foreign broker. i never knew there was any local broker who organizes such contest for its clients. please let me know if there’s any of them. unlike RoboForex that always runs competitive and challenging contests for their clients and it’s all free.



    14. don’t have any International awards
    local brokers certainly has its rewards too, but most of them only have Nationals rather than International awards. unlike foreign brokers who is recognized by foreign countries because of its quality.



    15. don’t provide any VPS server services to clients who use robots
    we couldn’t use the service VPS server in a local brokers because most brokers don’t have or even provide this service. if we ask this to them, they would immediately encourage us to trade manually without using a robot. this of course isn’t approved by the traders who used to use the robot.



    16. rarely provide live currency charts and currency quotes in the website
    even though I saw some websites from local brokers provide this services, but most of them got no this services yet. unlike foreign brokers like RoboForex who provide this kind of service in front of its main page in the official website.



    the next page is on progress and its almost ready. see ya in the next couple minutes.

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  3. #3
    Trader Sascha's Avatar
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    hello,

    just as my promise, i'll continue my work because things are finished now. here are the next contents guys, check this out:

    5. how big is the experience of consultants who working at a local brokerage?
    i also met a teenager who was working as a consultant brokers in Indonesia, precisely in PT XXX. i asked him “what are things you’ve done to find customers for your company? do you already know and understand well what kind of business is this? if you don’t have a lot of experience in this business, what would you do if you've got a client? with your ability at this time, you’ll only make the problem by eliminating your client's money and this is all due to your own negligence." the moment i asked that questions, he just stopped explaining to me and went straight away from me.

    this proves that many brokers who hire beginners to get clients and sent them also to make trades. though the beginners are also new to know the world of forex and don’t have any experiences. therefore, many beginners who removes his clients money because of loss.

    6. why forex trading is not too interested for a lot of people in Indonesia?
    that's because most Indonesian people fear the loss. they think, people who trade forex will definitely get rich quick and probably get loss because of forex is nonsense business just like another kind of investments. in addition, many cases where Indonesian investors who suffered losses and demanded broker where they invested the funds. It’s certainly not the responsibility of the broker for each client had previously signed the agreements between the broker and the client.

    most of the cases that happened in Indonesia was purely a mistake of brokers and employees who handle funds of their clients. an error of broker is located on using a less experienced employee to monitor and trade the client funds. employee’s error is the level of experience that is still a little bit but he assumed that he already knows everything.

    7. why the Indonesian are easily tempted by a similar business like trading forex?
    basically, the Indonesian people like to do any business, and easily tempted by the slight starting money but profits that doubled. therefore, many Indonesian people who cheated not only by traders but also companies that has the disguise in such investment of gold or MLM business that promises big profits with a very small capital.


    8. when did you begin to join in this forex business?
    i join in the forex business in more than 2 years ago, namely in 2013. at that time I was invited by my friends to follow a forex contest. then i asked them, what is forex? then my friends explained that to me in detail and it makes me felt motivated to learn to understand the forex deeper.

    9. when did you join to this forum or broker?
    i joined here back in 2013, dated at December 17th. You can also see the date in my profile in the forum if you don’t believe me. i also registered with the RoboForex broker days after that but I couldn’t remember the exact date, my apology.



    10. why are you interested in running this forex business?
    i’m interested in forex because forex movement is very fast and the benefits can be obtained very quickly as well. of course this makes the greater risk, but it doesn’t discourage me to practice and learn to reduce the level of risk.

    11. what makes you stay this long in the business of forex?
    over the past 2 years, i haven’t used my own money for trading. i like to follow this business because i’m using only bonus accounts given by many brokers who are having a campaign or promotion. in addition i trade with no risk, i also get the experiences, knowledges, and the real money that i can use for my daily needs.

    12. where did you learn about forex trading?
    i’m learning forex through ebooks that are found easily on the internet and forex sites that teach about the techniques of trading either basic or complicated ones. it isn’t easy to learn on their own, but it doesn’t make me give up and as a result i can make a profit without any risk.

    13. how can you join a broker and RoboForex forum?
    i got the information to register on this forum through my friends and also from a website which explains that the broker RoboForex has a program forum where every members can get a bonus then the bonus can be used for real trading and profits can be withdrawn.

    14. when did you usually trading? which trading sessions do you usually choose?
    because in my area it’s entered in GMT +7, i usually trading in the afternoon and evening. for the selection of the trading session, i prefer to trade on the American session as the USD movement is very fast. i can only trade on the American session because during the Asian session, i worked outside and can’t trade forex.

    i think that’s all trading opportunities from Indonesia according to my experience. wish of luck to all participants who participate this contest. It’s been a great honor for me to get at least few thumbs up from all lovely members if you find this thread useful, entertaining, and informing you. for Indonesian traders, let’s race on.

    thanks for your time. wish you all the best, guys.

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    Last edited by Sascha; 08-15-2016 at 12:03 PM.

  4. #4
    Trader Azis Muslim's Avatar
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    Great, another participant from Indonesia. Glad to see you here participated the contest, Sascha. Thanks for your thumbs in my thread before, and now I would return you the favor too. Wish you luck and may the best wins.

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  5. #5
    Trader Sascha's Avatar
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    Quote Originally Posted by Azis Muslim View Post
    Great, another participant from Indonesia. Glad to see you here participated the contest, Sascha. Thanks for your thumbs in my thread before, and now I would return you the favor too. Wish you luck and may the best wins.
    thanks, i really appreciate your thumbs here pal. you also got a nice content too but compared to me, mine's nothing. by the way, thank you so much for the thumbs up.

    i'd also wanted to say thanks to user @Sixteen for giving me a thumb here. thanks a lot pal, i wish i could see you participating in this contest and i'll give my thumbs for you too. thank you so much.

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  6. #6
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    [lang=id]Nice topic to read. I hope Indonesian win this contest. Are u woman? :P[/lang]

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  7. #7
    Trader Azis Muslim's Avatar
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    Quote Originally Posted by Sascha View Post
    thanks, i really appreciate your thumbs here pal. you also got a nice content too but compared to me, mine's nothing. by the way, thank you so much for the thumbs up.
    [lang=id]You are welcome, sis. By the way, why do not you add some other topics and increase the amount of your post here to make things more attractive? I am sure that you can make more new contents too. But that was just my suggestions, do not take it seriously. 6 days left to see the winners list, can not wait to see who are the winners and I hope you are one of them. See you soon with your replies here, Sascha. [/lang]

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  8. #8
    Trader Sascha's Avatar
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    Quote Originally Posted by zeldha View Post
    [lang=id]Nice topic to read. I hope Indonesian win this contest. Are u woman? :P[/lang]
    thanks sir, may the best wins. yes i'm a woman sir, sure you realize it from my username for sure

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