Mahadana Forex Broker provides real users with * positive reviews, 2 neutral reviews and * exposure review!
Risk Control
Software Index
Another broker that only offers Indonesia support. I just want to test their trading condition on the MT4, but I can’t understand their website contents clearly, even though Google Translate has helped me a lot.
Never like this kind of trading platform, outdated and inconvenient, you can hardly expect a profit here…
Mahadana, an Indonesian forex broker, has garnered mixed reviews from users and experts alike. While it has established itself as a reputable platform, the overall sentiment suggests caution due to its limited features and support. Notably, Mahadana operates under the regulatory authority of Bappebti in Indonesia, which adds a layer of credibility. However, the lack of educational resources and account variety is a concern for potential traders.
Note: Its important to recognize that Mahadana operates under different entities based on geographical regions, which can affect user experience and regulatory compliance. This review aims to provide a balanced overview based on various sources for fairness and accuracy.
| Category | Score (out of 10) |
|---|---|
| Account Conditions | 5.7 |
| Tools and Resources | 4.0 |
| Customer Service and Support | 5.0 |
| Trading Setup (Experience) | 5.5 |
| Trustworthiness | 6.0 |
| User Experience | 5.2 |
| (Optional) Additional Criteria | 5.0 |
We rate brokers based on user feedback, expert analysis, and factual data.
Established in 2005, Mahadana operates as PT. Mahadana Asta Berjangka, primarily serving the Indonesian market. The broker utilizes the widely popular MetaTrader 4 (MT4) trading platform, which is favored for its user-friendly interface and robust features. Traders can access a variety of assets, including forex, commodities, and stock indices. Mahadana is regulated by Bappebti, the Indonesian Commodity Futures Trading Regulatory Agency, which provides a level of oversight and security for traders.
Mahadana is primarily regulated in Indonesia under Bappebti, holding the license number 834/Bappebti/Pn/11/2005. This regulatory framework aims to ensure compliance with industry standards, although some reviews indicate that the regulatory environment may not be as stringent as in other regions.
Deposits and withdrawals can be made through bank wire transfers and credit cards, with the currencies accepted primarily being Indonesian Rupiah (IDR). However, the absence of cryptocurrency options may limit trading flexibility for some users.
The minimum deposit required to open a trading account with Mahadana is approximately $150, which is considered reasonable for beginners looking to enter the forex market.
Currently, there are no notable bonuses or promotional offers highlighted in the reviews, which may be a downside for traders seeking additional incentives.
Mahadana offers access to various financial instruments, including forex pairs, commodities like gold, and stock indices. However, the range of available assets is perceived as limited compared to other brokers, which could be a drawback for traders seeking diverse investment opportunities.
Spreads vary depending on the trading instruments, and while some reviews mention competitive pricing, others indicate a lack of clarity regarding fees. Traders should be aware that commissions may apply, but specifics are not extensively detailed in the available reviews.
Mahadana offers a maximum leverage of up to 1:30, which is relatively conservative compared to some other brokers that provide higher leverage ratios. This lower leverage may be beneficial for risk management, especially for novice traders.
The broker exclusively supports the MetaTrader 4 (MT4) platform, which is well-regarded in the trading community for its advanced charting tools and automated trading capabilities. However, the lack of support for MT5 or other platforms may limit options for more experienced traders.
Mahadana primarily caters to clients in Indonesia, and there may be restrictions for traders from other regions, which could limit its global reach.
Customer support is available in English and Indonesian, which may be a limitation for non-Indonesian speakers. The support channels include email and physical office locations, but some reviews suggest that response times could be improved.
| Category | Score (out of 10) |
|---|---|
| Account Conditions | 5.7 |
| Tools and Resources | 4.0 |
| Customer Service and Support | 5.0 |
| Trading Setup (Experience) | 5.5 |
| Trustworthiness | 6.0 |
| User Experience | 5.2 |
| (Optional) Additional Criteria | 5.0 |
In conclusion, the Mahadana review presents a broker that, while regulated and offering a familiar trading platform, may not fully meet the needs of all traders due to its limited features and support. Potential users should weigh the pros and cons carefully before deciding to engage with this broker.
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