Inter Pan Review by professional Forex trading experts the “ForexSQ” FX trading team, Finding out everything you need to know about the broker is in this Inter Pan Review.
Inter Pan Review
Inter Pan Pacific Futures, or simply Inter Pan is a financial services company based in Indonesia. This review will focus on the things offered by them at fxinterpan.com, while they may also provide other services.
Inter Pan Advantages
Regulated in Indonesia – Inter Pan is overseen by the Supervisory Board and the Commodity Futures Trading Regulatory Agency (BAPPEBTI). They are also a member of the Indonesian Derivatives Clearing House and the Jakarta Futures Exchange. We have mixed feelings about Indonesian regulation. While they are definitely much tougher, than offshore “watchdogs”, one may still prefer dealing with a broker, registered with the FCA.
Established local player – Inter Pan has has offices spread out across Indonesia. This in itself is not that major of a factor, but when combined with their regulatory status and the dates at which they have received the licenses (2003-2004), they are surely a relatively respectable player.
MetaTrader5 trading platform – This is a top-tier choice of trading software. The platform is the successor of MetaTrader4 (MT4), the current industry leader. Developed by the same team at MetaQuotes, the newer version was originally a futures trading platform, but later re-integrated to be a more forex-friendly. Nowadays the immaculate charting and availability of custom tolls (indicators and automated trading systems) is complemented by the news markers, seen at the bottom of the chart.
We must note the old indicators and Expert Advisors, developed for MT4, will not work with MT5.
Inter Pan Disadvantages
Poor presentation – The first thing one would notice when entering Inter Pan’s website is the poor presentation. The sub-menus and pages feel clunky. And while the company does a good job at mentioning its regulatory status, the actual service is presented quite poorly, which leads us to the next weakness.
Missing key information – information on the trading conditions is not provided by Inter Pan. In the current competitive marker, this is a huge flaw. Companies do anything they can to list exotic assets which they offer (like cryptocurrencies, in recent times) and the trading conditions. One will not get much knowledge about the actual service offered by Inter Pan, if only looking at the website – nothing about spreads, leverage, methods of payment or even the currency pairs available.
High fixed spreads – when testing the platform, provided by Inter Pan, we saw a 3 pip fixed spread on EUR/USD (which you can confirm if you zoom the screenshot provided above). This level is not competitive in the current environment. One can get a 1 pip fixed spread on this pair, if she was to deposit more than $250, with easyMarkets. Floating spreads on the other hand can go even lower.
While spreads shouldn’t be your main concern, trading with the level provided by Inter Pan will add up over time.
Inter Pan is an Indonesian forex broker, which presents its offer rather poorly. While the company is regulated by the appropriate local authorities, they are not competitive in the present day and age, with a fixed spread starting from 3 pips.
While Indonesia is a predominantly Muslim country, this broker has not mentioned offering Islamic accounts. While we believe they do, as the local regulators used to require this, we have no way of confirming this. That being said, we generally have mixed feelings about the Indonesian watchdog – they are relatively stringent, but may be not as much as others.
We usually give the UK’s Financial Conduct Authority (FCA) as an example of a respected agency. They enforce two key rules on all overseen brokers.
First of all client funds are segregated form the company’s. This prevents the broker from stealing your money. The second major rule states that FCA-regulated companies have to be a part of the Financial Services Compensation Scheme (FSCS). This is pool (similar to an insurance pool) to which brokers must contribute a portion of their profits periodically. Later, in case one of them goes bankrupt, this fund is used to compensate traders. One can claim up to £50,000, if the company they trade with becomes insolvent.
Instead of the forex broker you can use Plus500, XM, eToro, Fxpro or AvaTrade forex brokers.
Inter Pan Review Conclusion
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