Weighing the Profit and Loss of Trading at Broker Maxco – Kuri007.com

Weighing the Profit and Loss of Trading at Broker Maxco – Before trading, it is obligatory to find a broker that suits your needs. This is because brokers hold a very important role as a link between retail traders and the forex market.

It cannot be denied that the process of choosing a broker is not an easy matter. Especially considering that currently there are so many brokers who have different specifications.

There are many things to consider when choosing a broker. However, the most important factor is safety.

Broker regulation rules in Indonesia are under the auspices of the Commodity Futures Trading Supervisory Agency (Bappebti), so it’s a good idea for traders to look for brokers who have obtained a permit from Bappebti.

One of the brokers that has been regulated by Bappebti is the Maxco broker. In addition, this broker is a broker with a banking background and is integrated with Panin bank.

PT. Maxco Futures is registered with Bappebti together with no 931/BAPPEBTI/PN/8/2006. This broker, which has an office in Senayan, Central Jakarta, also offers a wide variety of benefits, such as low trading fees and much more. But before trading at Maxco, traders must consider the advantages and disadvantages.

Advantages of Trading at Maxco Brokers

There are several factors that can be used to determine the benefits of a broker. Some of them are spreads, regulations, deposit fees, and the choice of trading instruments. Then, what are the advantages of trading at Maxco?

Low Trading Fees

One of the necessary considerations when trading is trading costs. Maxco is one of the local brokers that provides live shared accounts with low fees. Based on the information available on the official website, Maxco offers variable spreads and a commission fee of $1 per lot.

Guaranteed Security

Another advantage of trading at Maxco is that traders get a good security process. In addition to regulatory permits that are aware of coming from CoFTRA, Maxco is also a member of JFX (Jakarta Futures Exchange) and KBI (Indonesian Futures Clearing House).

As a broker who thinks that he needs the safety of his clients’ funds, this broker implements a segregated account so that trader funds are separated from the company’s operational costs. The existence of a segregated account also guarantees transparency of funds between brokers and traders.

Banking Background

The advantage of the Maxco broker that sets it apart from other brokers in Indonesia is that it is integrated with Panin bank.

Thus, the segregated accounts available at Maxco brokers will be directly protected by companies that have qualified experience in the banking industry. Being integrated with banks also means that deposits and withdrawals at the Maxco broker can be more efficient.

Low Deposits

Often traders forget that the minimum deposit from the broker is part of the trading costs that must be taken into account. Every trader has different abilities regarding capital for trading.

For example, novice traders may not need large trading capital. Of course, their needs are not the same as professional traders who often trade in large volumes.

One of the advantages of trading at Maxco is the minimum deposit which is quite low. Traders can enjoy a wide variety of trading facilities with just $100 without being charged any deposit fees. Traders will also not be charged any fees when withdrawing funds. Both deposit and withdrawal will be executed instantly.

Many Instrument Options

The type of instrument can be a factor that can be considered when weighing the profit and loss of trading at a broker. The reason is that brokers with many instruments can provide more choices for their traders.

Thus, traders can reach more markets to meet their needs. Fortunately, the Maxco broker is one of the local brokers that provides a large selection of trading instruments for its clients. The various types of assets that can be traded on Maxco are a number of forex pairs, precious metals such as gold and silver, futures, and stocks.

Demo Account

A demo account has many benefits, one of which is to practice before switching to a real account. Fortunately, Maxco has a demo account that has been designed to closely match the trading environment in the real market.

The goal is that traders can get used to market conditions on a live account and not get confused the first time they use the trading platform. The Maxco brokerage demo account is also equipped with virtual funds of up to $10,000 to equip traders with practice trading along with a wide variety of strategies. This account can be used for approximately 1 month.

Lack of Broker Maxco

Trading at Maxco actually has many advantages. However, it cannot be denied that there are several factors that may not be suitable for some traders. What are they?

Limited Deposit and Withdrawal Methods

In addition to the minimum amount and fees, payment methods can also be taken into consideration when it comes to broker deposits and withdrawals. Brokers with deposit methods that have many variations will definitely make it easier for traders than those with limited choices.

Unfortunately, the Maxco broker only provides methods for depositing and withdrawing funds through 2 banks, namely BCA bank and Panin bank to be precise. In addition, this broker is not yet able to process deposits via credit cards. However, it should also be noted that most brokers in Indonesia actually only accept deposit and withdrawal processes via bank transfers so that the process is safer and faster.

Limited Educational Features

Educational tools are often seen as one profitable trading study tool for all types of traders. Moreover, most broker education features are free of charge.

Usually, the features offered by brokers are webinars, trading articles, tutorials, to discussion of indicators. Unfortunately, the study features offered by this broker are quite limited.

One of them is a webinar that is held every once in a while. Traders can watch it via live YouTube or join the Zoom class via the code and link shared through the Maxco broker’s official Instagram account.

Limited Trading Tools

Trading tools are tools that have many uses for traders. Several brokers provide a wide variety of interesting trading tools, such as economic calendars, calculators, and trading signals.

Unfortunately, the Maxco broker has not provided complete trading tools for its traders. In fact, currently there are a number of local brokers who are competing to provide a wide variety of trading tools.

However, considering that the Maxco broker has been integrated with MetaTrader 4, traders can use the features available on the trading platform to assist trading activities. One of them is an Expert Advisor to help with automated trading activities.

Conclusion

Maxco is one of the brokers that has been trusted by Indonesian traders for more than 30 years. Apart from being safe because it has been regulated by Bappebti, trading at Maxco has many other advantages.

For example, this broker provides fairly low trading fees; Starting from the minimum deposit, small spreads, to affordable commission fees. However, it cannot be denied that Maxco also has some drawbacks. For example, this broker’s educational features are always inferior except when compared to local brokers with similar specifications.

If asked if this broker is worth considering. The answer is of course yes, because the Maxco broker has much more in its essential services. The disadvantages of the Maxco broker are more focused on complementary factors that can be found in other trading service providers.