Esandar Forex Broker

ESANDAR Basic Information Registered Country/Area Indonesia Regulation Regulated by BAPPEBTI Maximum Leverage 1:100 Spreads Varies by instruments Trading Platforms MT4 (Desktop and Mobile) Tradable Assets Gold, Silver, Oil, Forex, Stock Indices Account Types Multilateral, Regular, Mini Demo Account Available Customer Support Email, Phone, WhatsApp Payment Methods Bank Transfers Educational Tools Video tutorials, textual guides Overview of ESANDAR ESANDAR operates as a brokerage platform that facilitates trading activities for traders and investors. The three types of accounts offered by ESANDAR includes Multilateral, Regular, and Mini options, each with specific features tailored to traders' needs. The brokerage provides access to a diverse range of financial instruments, including precious metals like gold and silver, oil, forex pairs, and stock index futures from regions like Japan, Hong Kong, and Korea. ESANDAR utilizes the widely used Meta Trader 4 (MT4) trading platform, available for both desktop and mobile devices, enabling traders to manage their positions with flexibility. The broker provides customer support through multiple channels, including email, phone, and WhatsApp. Additionally, ESANDAR offers educational resources such as video tutorials and textual guides, aimed at helping traders improve their trading skills. However, ESANDAR presents certain disadvantages that potential users should consider. Firstly, the absence of online customer support might result in delayed query resolution and limited immediate assistance. Additionally, the presence of commission fees in specific transactions could impact traders' overall costs. Another limitation lies in the relatively narrow range of deposit and withdrawal methods, primarily centered around bank transfers. These constraints might restrict users who prefer a wider array of payment options. It's important for traders to weigh these drawbacks against the benefits and their individual trading preferences before making a decision. Is ESANDAR legit or a scam？ ESANDAR is a registered member of the Jakarta Futures Exchange (BBJ), a prestigious financial institution that provides a platform for futures trading. Furthermore, ESANDAR is an esteemed member of the Indonesian Futures Clearing House (Persero), an organization that plays a crucial role in facilitating efficient and secure transactions within the futures market. In addition to its memberships in these influential entities, ESANDAR operates under the oversight and regulation of the Commodity Futures Trading Regulatory Agency (BAPPEBTI), the specific number of BAPPEBTI futures trading business license is 485/BAPPEBTI/SI/IX/2004. Pros and Cons Pros Cons Demo account available Lack of online customer support Regulated brokerage Commission fees charged Diverse trading instruments Limited deposit and withdrawal options Educational resources available ESANDAR provides advantages to traders. The availability of a demo account allows for risk-free practice, aiding traders in refining their strategies. Additionally, the brokerage is regulated, contributing to a sense of security for traders. The diverse range of trading instruments offers traders various opportunities to engage in different markets. The inclusion of educational resources furthers traders' understanding and competence. However, ESANDAR does have certain limitations. The absence of online customer support might hinder immediate query resolution. Traders will also incur commission fees in specific transactions. Furthermore, the deposit and withdrawal methods are primarily limited to bank transfers. Prospective ESANDAR users should carefully evaluate these factors to align their choices with individual trading preferences and necessities. Market Instruments ESANDAR offers a diverse range of market instruments that cater to various trading preferences and strategies. Among the featured instruments are precious metals like gold and silver, providing traders with the opportunity to speculate on the price movements of these valuable commodities. Additionally, ESANDAR provides access to the oil market, enabling traders to engage in trading activities related to this vital global commodity. Forex trading is a significant component of ESANDAR's offerings, allowing traders to participate in the foreign exchange market. With the potential to trade a wide array of currency pairs, investors can capitalize on fluctuations in exchange rates and engage in a market that operates 24 hours a day. ESANDAR further extends its offerings to encompass stock indices from prominent regions, including Japan, Hong Kong, and Korea. Traders can access Japan Stock Index Futures, Hong Kong Stock Index Futures, and Korea Stock Index Futures. These instruments provide exposure to the performance of stock markets in these respective regions, allowing traders to speculate on the overall direction of these markets. Account Types ESANDAR presents three kinds of real accounts tailored to accommodate different trading preferences and experience levels. The Multilateral account type requires a minimum investment of Rp50,000,000 and provides access to USD 10 Oz Gold Scrolling Futures Contracts and Cocoa Futures Contracts. The Regular account type, with a minimum investment of Rp30,000,000, grants access to a range of instruments including Forex derivative contracts, oil, gold & silver, and IDR stock index derivative contracts. The Mini account type, with a minimum investment of Rp3,000,000, offers access to similar instruments as the Regular account but at a smaller lot size (0.1 Lot). In addition, the Demo Account is also available on ESANDAR, which offers a risk-free avenue for traders to explore and practice their strategies without using real money. This type of account is a valuable tool, particularly for novice traders or those looking to test new approaches. Traders can simulate real trading scenarios with virtual funds, gaining a comprehensive understanding of the platform's features and market behavior. How to open an account？ Here's a step-by-step guide on how to open an account with ESANDAR: Step 1: Visit the ESANDAR official website and navigate to the “Open Real Account”. Step 2: Then you will be redirected to the website of registration sheet. You will need to fill out the required personal information in the registration form, including your full name, email address, contact number, occupation, annual income and many other details. Step 3: You will also need to provide bank accounts for margin deposits and withdrawals, and additional documents such as savings book/mobile banking cover, credit card/electricity/telephone/internet account bill, STNK/BPKB or proof of employment, among other things, personal recent photo and KTP / SIM / Passport is mandatory. After finishing the registration form, you can submit the application. Step 4: Follow the instructions to verify your identity. This may involve submitting identification documents such as a passport or driver's license, as well as proof of address documents. Step 5: After your identity is verified and your account is approved, you can fund your trading account. Leverage, Spreads & Commissions (Trading Fees) ESANDAR operates with a structured approach to spreads and commissions, with variations based on different trading accounts and instruments. In the realm of forex trading, the commissions are set at $50 USD per lot, with a maximum trading volume of 20 lots. The spreads, which are indicative of the difference between the bid and ask prices, fluctuate according to the specific currency pairs being traded. For instance, notable spreads include 0.00025 for EURUSD and GBPUSD, 0.025 for USDJPY, and 0.03 for EURJPY and GBPJPY. When it comes to trading stock indices, ESANDAR offers three distinct categories: Japan Stock Index Futures, Hong Kong Stock Index Futures, and Korea Stock Index Futures. These instruments share a consistent leverage ratio of 1:100, providing traders with the ability to control larger positions with a relatively smaller margin. The commissions per lot across these stock index futures are established at USD 50, while the maximum trading volume remains capped at 20 lots. Trading Platform ESANDAR provides traders with a widely known trading platform, the Meta Trader 4 (MT4). The MT4 platform is known for its user-friendly interface and comprehensive features. The MT4 trading platform is compatible with a variety of operating systems, encompassing desktop platforms such as Windows, macOS, and Linux, as well as mobile platforms including Android and iOS. The MT4 platform offered by ESANDAR grants traders access to a variety of financial instruments, including forex, commodities, indices, and more. With its intuitive charting tools and technical indicators, traders can perform in-depth market analysis and make trading decisions. Additionally, ESANDAR's MT4 platform offers real-time price quotes, one-click trading capabilities, and various order types, providing traders with the tools needed to execute trades efficiently. The platform is available for both desktop and mobile devices, enabling traders to stay connected and manage their positions while on the go. Deposit & Withdrawal The platform supports bank transfers as the primary method for both deposits and withdrawals. Users looking to deposit or withdraw funds can conveniently initiate the process by accessing the official website and submitting the necessary application form. It's essential to provide accurate and up-to-date information while filling out the application form. This includes providing the correct bank account number and ensuring that the name on the application matches the account holder's name. Customer Support ESANDAR offers comprehensive customer support channels for its users. To get in touch with the broker, individuals can utilize the provided contact information, including email addresses such as info@esandar.co.id and support@esandar.co.id. For direct communication, users can call +62-21-29339229. Additionally, the broker facilitates communication through WhatsApp, where users can engage in discussions with +62 813-1615-5434. Although ESANDAR does not provide live chat for online customer service, users have the option to leave messages on the website. By filling out the inquiry form with the relevant details and email address, users will receive feedback from the company's staff. Educational Resources ESANDAR offers a range of educational resources, encompassing video tutorials and textual guides on topics such as investing in gold, introductions to the forex market, and overviews of the stock index market. Through video tutorials, ESANDAR aims to provide visual and interactive learning experiences for users. These tutorials cover a variety of subjects, including trading strategies, platform tutorials, and market analysis techniques. In addition to video tutorials, ESANDAR provides textual educational materials that cover specific aspects of trading. These materials include guides on how to invest in gold, offering insights into the factors influencing gold prices and strategies for trading this precious metal. Moreover, textual guides introduce users to the forex market and the dynamics of currency trading, as well as provide overviews of the stock index market and its key characteristics. Conclusion In conclusion, ESANDAR offers a range of advantages, including the provision of a demo account for risk-free practice, regulatory oversight for enhanced security, a diversified selection of trading instruments, and educational resources to bolster traders' knowledge. However, it's crucial to acknowledge certain drawbacks, such as the absence of real-time online customer support, the potential for commission fees, and a somewhat limited array of deposit and withdrawal methods primarily centered around bank transfers. As traders weigh the advantages against the disadvantages, they can make informed decisions aligned with their specific trading requirements and preferences. FAQs Q: What types of trading accounts does ESANDAR offer？ A: ESANDAR offers three distinct trading account types: Multilateral, Regular, and Mini. Q: What trading platforms does ESANDAR support？ A: ESANDAR supports the MetaTrader 4 (MT4) trading platform. Q: What instruments can I trade with ESANDAR？ A: ESANDAR offers a variety of trading instruments, including precious metals like gold and silver, oil, forex pairs, and stock index futures from regions such as Japan, Hong Kong, and Korea. Q: How do I deposit and withdraw funds with ESANDAR？ A: You can deposit and withdraw funds with ESANDAR through bank transfers. Q: What are the spreads and commissions at ESANDAR？ A: Spreads and commissions at ESANDAR vary depending on the trading accounts and instruments. For example, the spread for EURUSD and GBPUSD is 0.00025, and commissions for different stock index futures are USD 50 per lot. Q: Does ESANDAR provide educational materials？ A: Yes, ESANDAR offers educational materials such as video tutorials and textual guides.