MRG Forex Broker

MRG Mega Berjangka Basic Information Company Name MRG MEGA BERJANGKA Founded 1998 Headquarters Indonesia Regulations Unlicensed broker Tradable Assets Forex, Gold, US stock indices, Crude Oil Account Types Silver, Gold, Platinum Minimum Deposit $300 Maximum Leverage 1:200 Spreads From 0.8 pips Commission Forex and Gold: $8-$30 per lot, Indices/Oil: $20 Deposit Methods Local bank transfers Trading Platforms MetaTrader 4 (MT4) Customer Support Email, phone, online chat, customer complaint Education Resources Not specified Bonus Offerings None Overview of MRG MRG Mega Berjangka is an unlicensed broker based in Indonesia that offers trading in Forex, Gold, US stock indices, and Crude Oil. They provide three account types: Silver, Gold, and Platinum, each with different minimum deposit requirements, spreads, and commission fees. The broker operates without a license, which raises concerns about regulatory oversight and the safety of funds. While they offer a diverse range of tradable instruments and access to the popular MetaTrader 4 (MT4) platform, they lack educational resources and bonus offerings. Additionally, their spreads and commissions may be higher compared to other brokers, and the selection of tradable assets is relatively limited. Trading with an unlicensed broker like MRG Mega Berjangka carries inherent risks, such as inadequate client fund protection and limited avenues for dispute resolution. Traders should exercise caution and carefully consider these factors before choosing MRG Mega Berjangka as their brokerage firm. MRG Mega Berjangka's customer support is available through email, phone, and online chat. They also have a customer complaint system in place for handling any issues or grievances. However, it's important to note that the lack of regulatory oversight may impact the effectiveness and reliability of their customer support services. Is MRG Legit？ MRG Mega Berjangka is an unlicensed broker, and it is risky trading with it. Caution is advised when considering trading with MRG Mega Berjangka, as this broker operates without a license. Trading with an unlicensed broker carries inherent risks and raises concerns regarding the safety and security of funds. Regulatory authorities play a crucial role in overseeing and regulating the operations of brokers, ensuring compliance with industry standards and protecting the interests of traders. Choosing to trade with an unlicensed broker such as MRG Mega Berjangka means there is a lack of regulatory oversight and accountability. This absence of oversight can result in potential issues such as inadequate client fund protection, unfair trading practices, and limited avenues for dispute resolution. In the event of any disputes or financial issues, traders may face challenges in seeking recourse or recovering their funds. Pros and Cons MRG Mega Berjangka offers a diverse range of tradable instruments and multiple account types, along with access to the popular MetaTrader 4 platform. Prompt customer support is also available to assist traders. However, it's important to note that MRG Mega Berjangka operates as an unlicensed broker, raising concerns about regulatory oversight. The limited availability of educational resources and the absence of bonus offerings may be disadvantages for some traders. Additionally, the platform has a more limited selection of tradable assets, and the spreads and commissions may be comparatively higher for certain accounts and instruments. Traders should carefully consider these factors before choosing MRG Mega Berjangka as their brokerage firm. Pros Cons Diverse tradable instruments: Offers a range of tradable instruments, allowing traders to diversify their portfolios. Unlicensed broker: Operates as an unlicensed broker, raising concerns about regulatory oversight. Multiple account types: Provides three account types with different features, catering to various trading needs. Limited educational resources: Does not specify educational resources for traders. Access to MetaTrader 4 (MT4): Utilize the widely recognized MT4 platform for trading. No bonus offerings: Does not provide any bonus incentives. Prompt customer support: Offers customer support through email, phone, online chat, and a dedicated complaint system. Limited tradable assets: Has a more limited selection of tradable assets compared to other brokers. Spreads and commissions: Spreads and commissions may be comparatively higher for certain accounts and instruments. Trading Instruments MRG Mega Berjangka offers four types of financial instruments for trading: Forex, Gold, US stock indices, and Crude Oil. In terms of Forex, they provide 18 currency pairs, including major pairs such as EUR/USD, USD/JPY, USD/CHF, AUD/USD, and minor pairs like AUD/NZD, EUR/CHF, EUR/AUD, AUD/JPY, and EUR/GBP. The minimum spread and margin requirements vary based on the account type, with the Silver account having a spread of 0.8 pips for major pairs and requiring a minimum margin of USD50. When it comes to US stock indices, they offer access to S&P500, Dow Jones, and Nasdaq indices, available only for Gold and Platinum account types. Each index has its own contract size, minimum spread, tick size, and tick value. For example, the minimum tick size for S&P500 is 0.25 index points, and the margin requirement is USD110 for Gold accounts and USD1,100 for Platinum accounts. Trading Crude Oil (CL) is available for Gold and Platinum accounts, with spreads ranging from 5 to 15 pips. The contract size is 1,000 barrels, and the margin requirement is USD200 for Gold accounts and USD2,000 for Platinum accounts. In terms of Gold trading, MRG Mega Berjangka offers Loco London gold commodities with a contract size of 100 troy ounces. There are three tradable symbols available: XULF, XUL10, and XUL12. The minimum investment required to trade 0.1 lot of gold is USD500. MRG Mega Berjangka provides three types of real accounts: Silver, Gold, and Platinum. The Silver account requires a minimum deposit of USD300 and offers trading in Forex and Gold. The Gold account is commission-based, limiting the leverage to 1:100 and allowing trading in Forex, Gold, indices, and crude oil. The Platinum account has a minimum deposit of USD5,000 and allows trading in Forex, Gold, indices, and crude oil. The commission for Forex and Gold varies from USD8 to USD30 per lot, while for indices and crude oil, it is USD20 per lot. The maximum open lot varies for each account type, with the Silver account limited to 5 lots, while the Gold and Platinum accounts have unlimited maximum open lots. Here is a comparison table of trading instruments offered by different brokers: Broker MRG Mega Berjangka OANDA Forex.com Webull Forex Yes Yes Yes Yes Indexes Yes Yes Yes Yes Gold Yes Yes Yes No Crypto No Yes Yes Yes CFD No No Yes No Commodities No Yes Yes No Silver No Yes Yes No Oil Yes No Yes No Futures No No Yes No Options No No Yes Yes ETFs No No No Yes Bonds No Yes No No Account Types MRG Mega Berjangka offers three types of special accounts: Silver, Gold, and Platinum. The Silver account requires a minimum deposit of $300 and has a starting spread of 0.8 pips. It charges a commission of $8 per lot for Forex trades. The account allows a minimum lot size of 0.1 and a maximum of 5 lots. It offers a leverage of 1:200 and has specific trading rules, including a minimum distance of 1 point for stop and limit orders. The Gold account requires a minimum deposit of $500 and has a starting spread of 2.3 pips. It charges a commission of $30 per lot for Forex and Gold trades, and $20 per lot for Index and Crude Oil trades. The account allows a minimum lot size of 0.1 and has no maximum lot size or open lot limit. It offers a leverage of 1:100 and has specific trading rules, including a minimum distance of 15 points for stop and limit orders. The Gold account also provides access to trading US indices and Crude Oil. The Platinum account requires a minimum deposit of $5,000 and has a starting spread of 2.3 pips. It charges a commission of $30 per lot for Forex and Gold trades, and $20 per lot for Index and Crude Oil trades. The account requires a minimum lot size of 1 and allows a maximum lot size of 50 lots with unlimited open lots. It offers a leverage of 1:100 and has specific trading rules, including a minimum distance of 15 points for stop and limit orders. The Platinum account also provides access to trading US indices and Crude Oil. How to Open an Account？ To open a trading account with MRG Mega Berjangka, follow the steps below: Visit the official website of MRG Mega Berjangka at www.mrgfutures.co.id. Click on the yellow “Register” button located in the top right corner of the page. Fill out the “Register New Account” fields with your full name, username, email, password, and phone number. 4. Read the Trading Rules of MRG Mega Berjangka carefully. If you agree, check the box and click “Register Now” to proceed with the registration. 5. You will be directed to the account opening page. To add a demo account, click “Open Demo Account.” To open a live account, click “Open Real Account.” 6. Read and understand each document and the Customer Agreement Letter. 7. If you agree, select the “Yes” option and click “Submit.” 8. Complete the Real Account Opening Form, which includes personal information, address, and trading knowledge. 9. Upload the required proof of identity and address documents, such as your Identity Card (KTP), Driver's License (SIM), or passport. 10. Upload one of the following documents: bank statement (last 3 months), credit card bill, electricity/telephone bill, employment certificate, income statement, or financial report (last 3 months), or the inner part of your bank book cover. 11. Upload a recent color photo. 12. A Broker Representative will process your registration and contact you for verification purposes. 13. Once the verification process is completed, your User ID and Password will be sent via email. 14. Download the MetaTrader 4 platform and login using your User ID and Password. To start trading, make a deposit according to the minimum requirements for each account type. By following these steps, you can open an account with MRG Mega Berjangka and begin your trading activities. You can watch the video to learn about the account opening process: Leverage MRG Mega Berjangka offers different leverage levels for its account types. The Silver account has a leverage of 1:200, allowing traders to control positions that are up to 200 times the amount of their account balance. The Gold and Platinum accounts both have a leverage of 1:100. Leverage is a tool that enables traders to amplify their potential profits by controlling larger positions with a smaller amount of capital. However, it's important to note that leverage also increases the risk of losses, as losses are also magnified in proportion to the leverage used. Traders should carefully consider their risk tolerance and use leverage responsibly to manage their trading positions effectively. Here is a comparison table of maximum leverage offered by different brokers: Broker MRG Mega Berjangka Capital Bear Quadcode Markets Deriv Maximum Leverage 1:200 1:5 1:30 1:1000 Spreads and Commissions Spreads and commissions are important factors to consider when trading with MRG Mega Berjangka. The spreads refer to the difference between the bid and ask prices for a particular financial instrument, and they represent the cost of trading. Commissions, on the other hand, are additional fees charged by the broker for executing trades. For forex trading, MRG Mega Berjangka offers different minimum spreads and margin requirements based on the type of account. The Silver account has a minimum spread of 0.8 pips for major currency pairs and 1-2.5 pips for minor pairs, with a margin requirement of USD 50. The Gold and Platinum accounts have wider spreads, starting from 2.3 pips for major pairs and 4-8 pips for minor pairs. The margin requirement for Gold accounts is USD 100, while for Platinum accounts, it is USD 1,000. In terms of indices trading, the spreads for S&P500, Dow Jones, and Nasdaq are minimum 1 point, 10 points, and 2 points, respectively. For crude oil trading, the spreads range from 5 to 15 points. However, it's important to note that indices and crude oil trading are only available for Gold and Platinum accounts. When it comes to gold trading, MRG Mega Berjangka offers three tradable symbols with different minimum spreads and margin requirements. The XULF symbol has floating spreads, while the minimum spreads for XUL10 and XUL12 are 4 pips. The margin requirement varies depending on the account type, with USD 50 for Silver accounts, USD 100 for Gold accounts, and USD 1,000 for Platinum accounts. In terms of commissions, MRG Mega Berjangka charges fees per lot traded. For forex and gold trading, the commission fees are USD 8 per lot for Silver accounts, USD 30 per lot for Gold accounts, and USD 30 per lot for Platinum accounts. For indices and crude oil trading, the commission fees are USD 20 per lot for Gold and Platinum accounts. Deposit & Withdraw Methods MRG Mega Berjangka offers several methods for deposit and withdrawal. To fund your trading account, you can use local bank transfers, particularly from banks like BCA, Mandiri, BNI, and CIMB Niaga. These options provide convenience for Indonesian traders to transfer funds securely. As for withdrawals, MRG Mega Berjangka provides instant withdrawal slots twice a day, five days a week. This feature sets them apart from some brokers who limit withdrawals to once a day. The instant withdrawal service ensures quick access to your funds. Trading Platforms MRG Mega Berjangka uses the MetaTrader 4 (MT4) trading platform, which is widely recognized and popular in the financial industry. With MT4, traders have access to various timeframes, charts, and analysis tools. The platform is user-friendly and supports different order types, including market, limit, and stop orders. It offers stability, real-time quotes, advanced charting, and technical analysis tools. Overall, the MT4 platform provided by MRG Mega Berjangka is reliable and offers a feature-rich environment for traders to execute trades and manage their activities efficiently. You can watch the video to learn how to install MT4: Customer Support MRG Mega Berjangka provides customer support through various channels, including email, phone, and an online complaint system. 1. Email Support: - Contact email: customercare@mrgfutures.co.id - Response time: Within 2x24 hours - Clients can send their inquiries or concerns via email and expect a prompt response. 2. Phone Support: - Phone number: 021-7278 1710 (Hunting); 021-7278 1721 - Clients can call the provided phone numbers to get assistance or discuss any issues they may have. 3. Online Chat: - Website feature: “Chat With Us” - Clients can engage in real-time chat support by using the chat feature available on the website. 4. Customer Complaints: - Complaint Unit contact: - Phone number: 021-7278 1710 (Hunting); 021-7278 1721 - Email: customercare@mrgfutures.co.id - Website: www.mrgfutures.co.id - Clients can contact the Customer Complaints Unit to report complaints, receive explanations on complaint procedures, and learn about the online complaint system. 5. Main Office Address: - Senayan City, Panin Tower Lt. 22 Jl. Asia Afrika Lot 19, Jakarta Selatan 10270 - Clients can visit the main office for face-to-face assistance or to resolve any issues in person. 6. Online Complaint System (BAPPEBTI): - Clients can utilize the BAPPEBTI Online Complaint System by visiting https://pengaduan.bappebti.go.id/. - They can create a complaint account, provide personal information, and upload relevant documents. - BAPPEBTI verifies and reviews the submitted complaints, providing approval or rejection within two working days. Conclusion In conclusion, MRG Mega Berjangka is an unlicensed broker based in Indonesia that offers trading in Forex, Gold, US stock indices, and Crude Oil. While it provides a diverse range of tradable instruments, multiple account types, and access to the popular MetaTrader 4 platform, trading with an unlicensed broker carries inherent risks and raises concerns about the safety and security of funds. The lack of regulatory oversight, limited educational resources, absence of bonus offerings, and comparatively higher spreads and commissions for certain accounts and instruments are disadvantages to consider. Traders should exercise caution and carefully evaluate these factors before choosing MRG Mega Berjangka as their brokerage firm. FAQs Q: Is MRG Mega Berjangka a licensed broker？ A: No, MRG Mega Berjangka is an unlicensed broker. Q: What are the tradable assets offered by MRG Mega Berjangka？ A: MRG Mega Berjangka offers trading in Forex, Gold, US stock indices, and Crude Oil. Q: What are the different account types available at MRG Mega Berjangka？ A: MRG Mega Berjangka offers three account types: Silver, Gold, and Platinum. Q: What is the minimum deposit requirement to open an account with MRG Mega Berjangka？ A: The minimum deposit requirement is $300. Q: What is the maximum leverage offered by MRG Mega Berjangka？ A: The maximum leverage offered is 1:200.