RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
Soegee Futures is a legitimate Indonesia broker, that may not be for everyone, but that is up to each individual client. The following review presents an overview of the company.
Soegee Futures is regulated by the Commodities and Futures Trading Regulatory Agency (BAPPEBTI), the official regulator of Indonesia. As such, the broker is covered by most of the requirement expected from regulated entities, as well as the firm follow many of the industry standard safety, reporting and customer fairness procedures that make regulated brokers a fair and trustworthy experience.
One major requirement for very broker is to actually base a broker with an actual physical presence in Indonesia, however, traders in Indonesia are not restricted; the can chose any broker they want, or is presented to them.
So, Soegee Futures is regulated and therefore safe to trade with, while all funds are also safe. But, the broker may not be what most users expect from a brokerage, so we can only recommend Soegee Futures to those that actually have thought about it.
Soegee Futures Trading software
|Analytical tools||Auto trading||Custom indicators||Mobile apps|
|Soegee Futures MT4||✅||✅||✅||✅|
|cTrader||40+ indicators||✅||✅||Android and iOS|
Soegee Futures makes the MT4 available which is a fantastic inclusion, and a definite step in the right direction. This is the best trading software of all times, except maybe a little overdate when compared to the MT5, but this should not be an issue to users. The MT4 allows clients to really dive into the world of FX trading by immersing them with hundreds of integrated options and tools that are all a part of the same interface.
Soegee Futures also offers the MT4 as a mobile trader, but does not mention any web trader versions.
Soegee Futures allows clients to take part in a Social Trading platform, which is basically like taking part in a social network for serious traders. Here clients can converse with other traders, exchange strategies, and if both parties a re willing auto copy trades, analyze performances, and much more. It definitely grant a ton of content for users.
There are also trading competitions, where users compete against each other in trading challenges for prizes, mainly in the form of actual physical gold.
Obviously, users will have their hands full here.
Soegee Futures Trading instruments
The advertised available assets are forex currency pairs, precious metals, energies, indices, and stocks. This is a great list of assets, and the only thing that is missing are cryptocurrencies. This might be a big no for certain users, since cryptocurrencies are more popular than ever.
Soegee Futures Spreads and cost of trading
|Spread EURUSD||0.1pips + commission||1.7||1||1.1|
|Spread GBPUSD||Not Indicated||1.3||1.2||1.4|
|Spread USDJPY||Not Indicated||1.3||1.2||1.4|
The EUR/USD cost of trade is as low as 0.1 pips, is what we are told. But Soegee Futures also reveals that there is a commission that is not very well explained, so instead of paraphrasing we just attached the relevant condition:
Usually, the advertised spreads on websites owned and operated by legitimate FX brokers are ideal, high account tier spreads purposefully displayed instead of standard spread values. So the spread promoted by the broker is one that is offered by the highest account; it’s a smart strategy to captivate potential clients.
Soegee Futures Maximum leverage
|Soegee Futures||1:100/1:200||Not Revealed||Not Revealed||100:1||100:1|
|UK regulated brokers||30:1||5:1||❌||10:1||10:1|
|EU regulated brokers||30:1||5:1||2:1||10:1||10:1|
|AU regulated brokers||30:1||5:1||2:1||10:1||10:1|
|US regulated brokers||50:1||❌||❌||❌||❌|
There are two account types advertised on the website, one offering a 1:100 leverage, while the other is at 1:200. These are great leverages, although many clients might want higher leverages considering that there are no real limits to what the broker can offer. Just remember that high leverages are risky!
Soegee Futures Deposit and withdrawal methods
|Deposit time||Withdrawal time||Fee|
|Bank wire||3-5 business days||2-5 business days||$25|
|Credit card||Instant||No Information||Free|
|Paymt2||No information||No information||2%|
|Crypto||24 hours||24 hours||Fee depends on crypto|
There are no payment methods reveals at all, aside from a single mention that the broker accepts bank transfers. This is the best payment method, if one were to accept only a single payment method.
The only information is that bank transfers are processed in the same day if the request is issued before 11am, we suppose local Indonesia time.
Soegee Futures Minimum deposit
The minimum deposit seems to be capped at $1000, which immediately changes the nature of this broker. What we mean is that such a high deposit requirement is really orientated at high rollers and not first time investors or just clients wishing to try out their luck.
If you want lower minimum deposit brokers, then check some of these brokers out.
Soegee Futures Withdrawal requirements
|Trading volume||Fee/Tax on withdrawal||Minimum withdrawal|
|UK regulated brokers||No||No||No|
|EU regulated brokers||No||No||No|
|AU regulated brokers||No||No||No|
|US regulated brokers||No||No||No|
There was no withdrawal conditions whatsoever disclosed to us. This is a cause to worry, although considering that the broker is regulated, we don’t expect that Soegee Futures would ever add any shady clauses. Considering its’ regulated we don’t expect any risks.