I get a lot of questions about the difference between OctaFX and Octa Investama Futures. Because maybe if you pay attention, the logo design tends to be the same, just different in terms of colors and phrases. They both appear often in advertisements on YouTube and both use man of influence Indonesia in its marketing.
Is there any difference between the two? Is it still the same product?
Here I will try to explain that this is a common practice that is usually done by runner in Indonesia, where they have 2 entities or 2 different companies. With views, 1 company to shareinternational Foundation, and 1 more locally based. Octa’s own company, either OctaFX or Octa Investama Futures, is a brokerage firm or runner for goods and futureswhere runner East should regulated/regulated directly by CoFTRA (Commodity Futures Trading Supervisory Agency). This is certainly different from banks, which are regulated by Bank Indonesia, or financial insurance companies, which are regulated by OJK.
It is important to know that for Runner who come from abroad and want to legally operate in Indonesia, they must open a local company or PT. That is what OctaFX did by opening Octa Investama Futures in Indonesia.
So why does Octa keep promoting their OctaFX?
In fact, when you sign up for the first time, you will be given the option to sign up for a local or international website. What is under CoFTRA regulations is of course a local website, but you can still register on the international version, even though it is not regulated by CoFTRA. However, you really do not need to worry, because the international OctaFX entity itself is already regulated in other countries, but not in Indonesia. Therefore, the fact that it is not regulated by Bappepti in Indonesia does not mean that OctaFX is a fraudulent investment.
Ok, but does anyone choose the international version of OctaFX instead?
Yes, because the product specifications regulated by Bappepti are often too strict and inflexible. For example, regulations regarding minimum lots: In Indonesia, all brokers have a minimum trading lot of 0.1.
While in international corridors, you can find micro lot of 0.01. Then, for product deals, CoFTRA bans certain pairs, so you can’t access all pairs. So in terms of fees, it is also regulated, it is not allowed to be below a certain value for commissions or fees. spread, –You can see my post about spread to understand more. One more thing, brokerage and marketing companies cannot give refund of money and official sales.
Runner Local governments in Indonesia are severely limited by regulations made by CoFTRA. Maybe when you find an announcement about the existence of refund deposit OctaFX, must be an international version of OctaFX, not a local one regulated by CoFTRA.
Therefore, it is natural that local brokers are less attractive than international brokers. In fact, to this day there are still many senior traders who prefer to use international brokers for the reasons discussed above.
Besides OctaFX, what else Runner the same?
There is also an MRG that I recommend, where they also have dual entities. One is MRG Mega Futures, which is an official local entity regulated by CoFTRA. While the international version is the Maxrich Group.
There are still some more examples like FBS, but I think these two examples are pretty representative.
Which is better, OctaFX or Octa Investama Futures?
For me, this depends on your individual tastes and needs. Because if we invest in international companies, it does not mean that we are following false investments. That is very bad. These companies are not officially registered in Indonesia, but if it is confirmed that they already have regulations in their respective countries, then they are not fake or fraudulent products.
Although some international brokers are regulated in countries whose reputation is unclear and located in the middle of nowhere, but if their international reputation is already good and they have many clients, then the regulation should not always be used as a reference.
In essence, I want to invite you to be more critical and not be afraid if it turns out that you want to use an international broker. Because local brokers sometimes lose competitiveness because they are shackled by these rules. Although, local regulations provide added peace of mind because you have a ‘handle’ if something unexpected happens.
There’s one thing I need to be criticized for runner multiple entities, that is, they often deliberately confuse their potential customers. When someone wants to register for a local product, sometimes they are suddenly transferred to a foreign or international account registration account, and it turns out that many do not understand this, so they are considered the same.
Well, there are practices like this that I don’t agree with. And if you want to sign up with a local broker, which of course you won’t.cheated‘ to international links, I can recommend MagnetFX, which is a sponsor of Blog East. Since MagnetFX does not have a dual entity and operates 100% in Indonesia, it will not transfer to the international registry as I described above.