Living in Indonesia, But Using Foreign Brokers

Indonesian Forum
H
Huda Solikhin
31 Jan 2019, 11:55 3,739 Views

I live in Indonesia, but I want to try using a foreign broker. Can I withdraw funds through a local bank later? And what are the risks?

5 Answer

M
martin 01 Feb 2019, 06:34

@ Huda Solikhin:

Yes, but if you want to withdraw via a local bank, the deposit must also be via a local bank, through a payment forwarding service company. A fairly popular payment forwarding service company in Indonesia is Fasapay.

However, you must choose a broker that offers deposit and withdrawal methods via Fasapay, because not all brokers cooperate with Fasapay.

For more complete information, please read:
How Fasapay Works and How to Create a Fasapay Account

H
Huda Solikhin 01 Feb 2019, 09:42

Besides Fasapay, are there any other alternatives so they can easily send money to me, if they want to WD?

M
martin 05 Feb 2019, 05:12

@ Huda Solikhin:

If you mean easy in terms of funds arriving quickly, you can use e-currency like WebMoney. The transfer process can be instant as long as the withdrawal process has been approved by the broker. Funds can be transferred directly to your account at a local bank, via an exchanger that offers buying and selling WebMoney.

Also read:
Getting to Know WebMoney and How to Register

Or you can use a credit card, as long as the terms in your broker accept deposits / withdrawals via credit card.

To our knowledge, for brokers to transfer funds easily, as long as the withdrawal requirements are okay. With wire transfer (T/T) it's also easy because it's transferred directly from the broker's bank to your local bank account. But the transfer process does take some time, usually around 5 days.

A
Andy Machmud 12 Feb 2019, 08:49
How long is the estimated fund withdrawal and deposit time from the foreign broker mentioned, if we use Fasapay?
M
martin 13 Feb 2019, 03:52

@ Andy Machmud:

You probably mean the processing time. It depends on the broker.
For deposits, most are instant. For withdrawals, some are instant, some are 1 hour, 1 day to 2 days.

Add Answer

Loading editor...
Back to Forum

Forum

view all

Broker Testimonial

view all