General Information & Regulation
SIB FX(PT. Sentratama Investor Berjangka) is a company engaged in commodity futures brokerage services, established under and in accordance with the laws of the Republic of Indonesia and Government Regulation No. 9 of 1999 (Implementation of Commodity Futures Trading). SIB FX is authorized by BAPPEBTI, with regulation No. 09/BAPPEBTI/SI/XII/2000).
Market Instruments
Investors can only trade stocks, indices, foreign exchange with SIB FX. Tradable asset classes traded on the SIB platform are pretty average compared with may other brokers.
Minimum Deposit
The minimum deposit information is not fully disclosed on its official webiste. It is kind of wierd since this broker should miss such important details.
Spreads & Commissions
SIB offers spreads of 3 pips on EURUSD, USDJPY, GBPUSD, USDCHF, and AUDUSD currency pairs and an additional commissions of 50 USD per lot. All bids and offers for Loco Gold are at least $0.50.
SIB FX Leverage
When it come to the trading leverage, the maximum leverage ratio offered by SIB FX is up to 1:100. Seasoned traders may think the leverage is average, but inexperienced traders are advised not to use too high trading leverage in case of fund losses.
SIB FX Trading Platforms
SIB traders are provided with the most popular MT4 trading platform of the target. The MT4 trading platform has powerful charting tools, a large number of technical indicators, a user-friendly trading interface, allows automated trading via EA, supporting traders to create their own trading strategies, and can help traders to get ahead in the financial markets.
Deposit & withdrawal
SIB only states that it offers fast withdrawals for investors but does not tell what kind of payment method.
Customer Support
The SIB FX customer suopport team can be reached through emails (cssupport@sibfx.co.id), telephone (+62-21 5793 7700). Unfortunately, live chat communication is unavailable.
Pros & Cons
Advantages of SIB include:
1. BAPPEBTI regulation
2. MT4 trading platform
3. Availability of demo accounts
Disadvantages of SIB include:
1. Higher spreads & transaction costs
2. Limited trading assets
3. No deposit and withdrawal methods provided
4. No live customer support
5. One language version of the official website only