Pros & Cons of Didimax

Didimax Fact sheet

Didimax is regulated by the BAPPEBTI which stands for “Badan Pengawas Perdagangan Berjangka Komoditi,” which is the Indonesian Commodity Futures Trading Regulatory Authority. While it is always great to see brokers regulated, this certain regulator is not on the level of security as other well-established supervisory authorities that focus on Forex brokers. BAPPEBTI is mainly a commodity and futures trading regulator, and traders should exercise extra caution when dealing with Forex brokers regulated by authorities that focus on other types of markets. 

The only trading account offered by Didimax is a default live account, claiming to be offering spreads from 2 pips. We have checked the website for live spreads, and they sometimes fell as low as 1.7 pips on major pairs, which is still more expensive than the industry-average 1 pip. 

The execution model provided for this live account is the NDD or No Dealing Desk model, meaning Didimax redirects all orders to its liquidity providers. Tradable instruments are just around 20 instruments of Forex, metals, and indices, which is a fairly low number. Execution type is market execution for all trades unless the trader selects limit orders. The average execution speed is relatively high at 1 second. Margin calls and stopouts are 50% and 30% respectively. The minimum lot size is high, from 0.1 lots, which makes it not possible to start trading small and learn along the way. Hedging and trading robots are allowed and there are no requotes. 

Pros & cons of Didimax account types

Comparing Didimax fees with other brokers

Let’s see if Didimax broker offers appealing fees for trading in the tables below. 

Didimax fees compared to Interactive Brokers fees

*Inactivity fee was eliminated by IB in 2021, it used to be $20/m

Didimax fees compared to CM Trading fees

Didimax fees compared to plus500 fees

Didimax fees compared to XM fees

Didimax fees compared to AvaTrade fees

Didimax fees compared to Capital.com fees

The two platforms offered for trading by Didimax include the advanced MetaTrader 5 platform and Jafetscolt. The Jafetscolt or Jakarta Futures Exchange Trading System Client Online Trading is an integrated brokerage platform that offers only commodities trading but offers high levels of security. MT5 is superior among the two as it offers advanced trading tools and functionality. 

Didimax has a dedicated section for education on their website. Diverse educational resources are all paid for and provided to beginners to make sense of financial markets such as training & seminars, private training, and trading webinars. Multitudes of traders are teaching at Didimax to newcomers.

Apart from the majority of educational resources that are paid, there is also a section with free educational resources. This free educational section is mainly composed of educational articles about various Forex trading topics.

As for research tools, there are only economic calendars and market news provided. There are no other tools like indicators offered, which is unfortunate.

Didimax offers live chat in various forms and shapes of Telegram, WhatsApp, and website live chat. 

The website is available in English and Indonesian languages, but the support is only provided in Indonesian. 

The broker is also present on social media channels and platforms including Facebook, YouTube, and Instagram. 

Phone support and email support are also readily available 24/5 together with local offices in Indonesia. As the broker heavily targets Indonesian traders, it provides local traders with physical offices, but live chat is still a much better alternative because of its speed and efficiency. 

Didimax offers a handful of tradable instruments in three assets, Forex, indices, and commodities. The number of all instruments is around 20 which is fairly low compared to popular brokers. The support is only available in the Indonesian language, and it is difficult for international traders to get assistance from the broker. Much of the educational resources are paid, with only several articles available freely. Limited account options and higher minimum lot sizes are not suitable for all traders. While the broker is regulated, the regulatory authority focuses on commodities trading, which raises some security concerns for Forex traders.