ASKAP FUTURES Forex Broker

Askap Futures Broker - Complete Information Guide

1. Broker Overview

Askap Futures, officially known as PT. Askap Futures, was established in 2018. The company is headquartered in Jakarta, Indonesia, and primarily operates as a private entity. As a broker, Askap Futures focuses on providing trading services to retail clients, with a significant emphasis on the Indonesian market. The firm has developed a reputation for catering to local traders, offering a range of products and services tailored to their needs.

Since its inception, Askap Futures has aimed to establish itself within the competitive landscape of forex and futures trading. The broker has marked several milestones, including the launch of its trading platform and the introduction of various account types to accommodate different trading preferences. Askap Futures operates under the regulatory oversight of the Badan Pengawas Perdagangan Berjangka Komoditi (Bappebti), which is the Indonesian Commodity Futures Trading Regulatory Agency.

The business model of Askap Futures is primarily focused on retail forex trading. The broker provides access to a variety of financial instruments, allowing clients to trade in foreign exchange markets and engage in futures trading. This focus on retail clients positions Askap Futures as a key player in the Indonesian trading landscape, catering to both novice and experienced traders.

2. Regulatory and Compliance Information

Askap Futures operates under the regulatory framework provided by Badan Pengawas Perdagangan Berjangka Komoditi (Bappebti) in Indonesia. The license number issued to Askap Futures is 05/Bappebti/si/xii/2000. However, it is important to note that there are concerns regarding the legitimacy of this license, with some sources labeling Askap Futures as a suspicious clone of other regulated entities.

The regulatory license is intended to ensure that the broker adheres to the legal standards and practices required to operate within the financial markets. However, the lack of a robust regulatory framework raises questions about the safety and security of client funds. It is recommended for potential clients to exercise caution and conduct thorough research before engaging with Askap Futures.

As for client fund management, Askap Futures claims to implement a policy of segregated accounts, which is designed to protect client funds by keeping them separate from the company's operational funds. This is a standard practice in the brokerage industry aimed at enhancing client security.

The broker also adheres to Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance measures, which are essential for preventing fraud and ensuring the integrity of the financial system. These measures require clients to provide identification and verification documents during the account opening process.

3. Trading Products and Services

Askap Futures offers a limited range of trading products primarily focused on forex trading. The broker provides access to various currency pairs, facilitating both major and minor forex transactions. However, the exact number of currency pairs available is not specified in the available sources.

In addition to forex trading, Askap Futures also offers Contract for Difference (CFD) products, which include commodities, indices, and possibly other asset classes. The specific categories of CFDs available have not been explicitly detailed, indicating a potential area for further development in the broker's offerings.

The firm is committed to regularly updating its product offerings to meet the evolving demands of its clients. While the current focus remains on forex and CFDs, there is potential for Askap Futures to expand its product line in the future, depending on market trends and client feedback.

Askap Futures provides retail trading services to individual clients, allowing them to engage in trading activities through its platform. Additionally, the broker may offer white label solutions for other businesses, although specific details regarding such services are not clearly outlined in the available information.

4. Trading Platforms and Technology

Askap Futures utilizes the widely recognized MetaTrader 4 (MT4) trading platform, which is known for its user-friendly interface and comprehensive trading tools. This platform is available for PC users, providing traders with access to a variety of features, including advanced charting tools and technical indicators.

Unfortunately, Askap Futures does not currently support mobile applications for iOS or Android devices, which may limit accessibility for traders who prefer to manage their accounts on the go. This could be a significant disadvantage compared to other brokers that offer robust mobile trading solutions.

The execution model employed by Askap Futures is primarily Market Making, which means that the broker acts as a counterparty to client trades. This model may introduce potential conflicts of interest, as the broker profits from the spread between buying and selling prices.

The broker operates its trading infrastructure from Indonesia, with servers located within the country to ensure optimal execution speeds for local traders. However, the absence of advanced security features, such as two-step authentication and biometric login options, may raise concerns about the overall security of the trading environment.

5. Account Types and Trading Conditions

Askap Futures provides several account types to cater to different trading preferences. The available accounts include Silver, Gold, and Platinum accounts, each with varying conditions:

• Silver Account: Minimum deposit of $300, with spreads starting from 0.8 pips and a commission of $8 per lot.
• Gold Account: Minimum deposit of $500, with spreads starting from 2.3 pips and a commission of $30 per lot for forex and gold trading.
• Platinum Account: Minimum deposit of $5000, with similar conditions to the Gold account, including spreads starting from 2.3 pips and commissions of $30 per lot.

The leverage offered varies by account type, with the Silver Account providing a leverage ratio of 1:200, while the Gold and Platinum Accounts offer a leverage ratio of 1:100. The minimum trade size is typically 0.1 lots, allowing for flexible trading options.

Askap Futures does not explicitly mention the availability of Islamic accounts or accounts tailored for institutional clients in the available information. However, the broker does offer a demo account for prospective traders to practice their skills before committing real funds.

6. Fund Management

Askap Futures supports various deposit methods, including local bank transfers, which are commonly used in Indonesia. The minimum deposit requirements differ based on the account type, with $300 for the Silver account, $500 for the Gold account, and $5000 for the Platinum account.

The processing time for deposits is generally prompt, although specific timelines are not detailed in the available sources. It is crucial for potential clients to inquire directly with the broker regarding any deposit fees associated with their chosen method.

Withdrawals can also be conducted via local bank transfer, with specific procedures outlined for clients to follow. The processing time for withdrawals varies, with some transactions completed on the same day, while others may take longer depending on the time of request.

As for withdrawal fees, the information is somewhat limited, and clients are encouraged to clarify any potential costs associated with withdrawing funds from their accounts.

7. Customer Support and Educational Resources

Askap Futures provides customer support through various channels, including telephone and email. However, the absence of live chat support may hinder immediate assistance for clients. The support team operates primarily in English and Simplified Chinese, catering to a diverse clientele.

Traders can reach out to Askap Futures via the following contact methods:

• Phone: +62 02129765191
• Email: support@askapfutures.com

In terms of educational resources, Askap Futures offers limited information regarding available training materials or market analysis services. Prospective traders may find value in seeking external resources or platforms that provide comprehensive educational content to enhance their trading knowledge.

8. Regional Coverage and Restrictions

Askap Futures primarily serves clients in Indonesia, with its operations centered around the local market. While the broker may have aspirations to expand its reach, the current focus remains on catering to Indonesian traders.

The broker does not accept clients from certain countries, although specific restrictions are not detailed in the available information. It is advisable for potential clients to verify their eligibility to open an account with Askap Futures based on their country of residence.

In summary, Askap Futures is a broker with a limited but focused offering in the Indonesian forex and futures markets. While it provides essential trading services, potential clients should carefully consider the regulatory environment and the associated risks before engaging with the broker. The insights provided in this guide aim to equip traders with the necessary information to make informed decisions regarding their trading activities with Askap Futures.