Between FXOpen UK and FXOpen Indonesia

Indonesian Forum
30 Mar 2020, 17:23 344 Views

Hello seputarforex, I am a prospective forex trader, but I am still a little confused about choosing a broker. I am interested in fxopen, which has a small minimum deposit for ecn accounts. My questions are:
1. Is there a difference between fxopen UK and the fxopen introduce broker in Indonesia?
2. Is the introduce broker also regulated by the same regulator as the main broker?
3. Which one should I choose? fxopen UK or fxopen Indonesia?

Thank you seputarforex :)

1 Answer

E
erik tri cahyo 30 Mar 2020, 21:39

To Klikraket,

  1. Certainly there is. There will definitely be a difference between registering a broker directly with the prime broker (Prime Broker) and registering through an Introducing Broker (IB) / White Label (WL). And the most striking difference is certainly the size of the spread and the applicable swap/commission fees.

  2. If you use an official IB from the Prime Broker, then of course the regulatory status also follows the regulations of that Prime Broker

  3. It depends on your convenience. You can choose to register directly with the Prime Broker to get facilities and services directly without intermediaries and limitations. Or prefer to register through an IB to get convenience in transactions (deposit/withdrawal) and customer service, because the IB will definitely provide a choice of transaction options through local banks to make it easier for customers and also provide customer service in Indonesian. As long as you use the services of an official IB from the Prime Broker, we think it is equally safe and trustworthy in terms of security.

Hopefully this helps.

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