Knowing Indonesian Forex Trading Is Safe or Not?

Few people think that pTrading Forex Indonesia is one way to generate a lot of profit in a relatively short time. That's why many people are attracted to trade to multiply their wealth without hard work.

Besides, currently there are many platform which allows you to perform these functions easily and conveniently. This instrument is also considered highly liquid and can be started with small capital, making it increasingly popular among the general public.

A number of forex had to swallow a bitter pill when they tried to plunge into this world without proper understanding.

To prevent this from happening, before you decide to dive into forex trading world, Find out first what it means, how it works and the various app options below.

Indonesian forex trading

Understanding Trading Forex Indonesia

, or it can be called foreign exchange, is trading or foreign exchange transactions or foreign currency trading to several destination countries with business and tourism interests and seeking profit. In practice Forex traders are free to determine the currency or foreign currency they want to trade in order to get optimal profit.

no demand or reliance on a particular currency for benefit The most important, trader can make the right decision when it comes time to buy or sell it and pay special attention to demand and supply. currency

, sometimes trading limited to currency exchange using money exchange or offline space. Transactions made by currency trader often done online or on line to make a profit.

So this activity is practiced not only to get currency from other countries. On a large scale, many people take advantage of this activity as a land to invest and earn quite a promising income.

example forex is when you buy USD currency when its value is down and sell it back when its value is higher. Therefore, the profit from this activity is the difference between the purchase value and the selling value.

, Forex trading activities not only done by individuals or individuals. However, international companies, banks and even countries also use these currency transactions for profit and are carried out in a network called Forex market.

There's no need to be afraid, currency trading recognized as safe and does not violate any legal rules. In fact, according to the fatwa of the MUI or the Indonesian Ulema Council, currency transactions are halal. The reason is that there is certainty about the form of goods to be sold, including the amount, time, process, and other things.

How to Trade Forex Indonesia

basically, Forex quite simple. Besides, currently there are many platform , trading robots which can help users analyze the market with the help of certain algorithms.

However, you still need to be careful and ensure the accuracy of the analysis results, because trading robot service in Indonesia still lacks legal legitimacy and is at risk of fraud or data falsification.

To avoid this and to perform this activity optimally, you need to understand well way trading on the forex market see forex .

1. First, familiarize yourself with investment tools

. In general, currency trader are people who have had experience and ability in the investment world for a long time. trader use this facility as a way to increase their profits and invest further in various products such as bonds, stocks, etc.

Therefore, before trying forex trading, you should try to invest first to understand how to trade.

2. Study Forex Trading

Once you understand the investment world and have a lot of experience in it, get started study more about Forex trading. This information can be obtained through OJK or Financial Services reports and by finding mentors who have participated and successfully completed foreign exchange transactions.

3. Prepare cold funds

As with any investment activity, try trading on the Forex market with cold funds. The aim is to ensure that economic conditions remain conducive and there is no risk of economic disruption.

Also, start with a small number first, such as $1 or $10. Only when you get used to how trading works and find opportunities for promising profits can you improve even more trading capital.

4. Select Same broker trusted and guaranteed

, it is important for you to choose broker Check if the service is legit and trusted to avoid the risk of fraud.

Not only that, if you are in Indonesia, the broker even from within the country. The goal is to simplify administrative management, for example by saving commissions and certain consultations.

5. Prepare Application and Internet Network

Currency trading easier and more practical by online , so you need application like smartphone or a laptop and a smooth internet network. In general, currency exchange operations are carried out 24 hours a day, Monday to Friday.

Therefore, it is necessary to be able to follow fluctuations or movements in exchange rates so as not to miss the opportunity to make big profits or suffer losses because you decide too late to buy and cannot sell.

6. Be careful, disciplined and consistent in Trading Forex Indonesia

Finally, Forex You still need to carefully monitor and analyze when it's time to buy or sell currencies, and thoroughly study these operating systems.

Indonesian Forex Trading App

Once you know what currency and how it works, the next thing you need to know is the app or the platform . There are several programs to choose from based on their advantages and disadvantages, including:

Program nameDescription
News Agrodana FuturesThis platform was created by the broker Agrodana Futures and can provide convenience for independent fundamental and technical analysis. The app also offers several important services such as the latest currency news and analysis, calendar and financial information, market price movements, and video tutorials on how to perform technical analysis.
Hanson Forex InvestingThis program allows Forex traders to receive exchange rate updates, take profit, stop loss and open positions. In addition, you can also watch forex trading tutorial videos for beginners.
Trade optimizationThe advantage of this paid application is that it has 14 special calculators that can be used to analyze risks, determine positions and find out post-trade conditions. These benefits make it not surprising that this application is one of the favorites of traders.
HSB TradersThere is also the HSB Trader, which is suitable for beginners as it offers various opportunities to learn basic analysis, tricks and regular monitoring of market price movements. In addition, the legality of this application is guaranteed by the fact that it is registered with the Ministry of Commerce.
MIFX TraderFinally, the advantage of this recommended forex trading service is the ease of making trades, withdrawing money and publishing prices as a function of the desired pair watch.

Make sure you understand how Indonesian Forex Trading works.

This is an explanation of what it's Forex trading, how it works, and its application options. Since this business is for profit and return, make sure you have a very good understanding of how the business works. Only then will you be able to achieve optimal income, and currency will not take revenge and will not make a loss.