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FXOpen UK and Indonesia, Which One?

P Pangestu Indonesia Apr 17 2020

I'm still a bit confused about choosing a broker. I am interested in FXOpen which has a small minimum deposit for ecn accounts. My questions:

1. Is there any difference between FXOpen UK and FXOpen broker in Indonesia?

2. Is the IB also regulated by the same regulator as the UK broker?

3. Which one should I choose? fxopen uk or fxopen indonesia?

J Jackson
United States Apr 18 2020

Pangestu: There must be a difference between registering a broker directly with a prime broker (Prime Broker) and registering through an Introducing Broker (IB) / White Label (WL). The most striking difference is of course the amount of spread and swap/commission fees that apply. If you use an official IB from a Prime Broker, then of course the regulatory status also follows the regulations of the Prime Broker. Depends on your choice. You can choose to directly register with Prime Broker to get and service directly without intermediaries and restrictions. Or prefer to register through an IB to get convenience in payment (deposits/withdrawals) and customer service (customer service), because surely the local IB provides a choice of payment options through local banks for the convenience of their customers. As long as you use an official IB service from Prime Broker, I think that in terms of security, they are both safe and trustworthy.

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