Choose Maxco Or Asiatrade Futures For Day Trading? – Spot72.com
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Choose Maxco Or Asiatrade Futures For Day Trading? – Maybe that’s a question often asked by novice day traders. Indeed, determining a broker for Day Trading purposes should not be carried out haphazardly. In order to get the most out of it, traders who use this trick definitely need a broker with special specifications.
There are currently available quality brokers to choose from. For Indonesian traders, choosing a local broker is the right choice to start a trading business. The reason is, traders will get security guarantees from regulatory bodies in Indonesia.
There are several well-known local broker names that you can choose from to meet your Day Trading trick needs, including Maxco and Asiatrade Futures. So, which one offers a better trading environment?
A Brief Review of Maxco and Asiatrade Futures Brokers
PT. Maxco Futures or Maxco broker is one of the official futures brokers in Indonesia which has been operating since 1990 and is one of the best brokers in the country.
This broker has obtained a license from Bappebti with number 931/BAPPEBTI/PN/8/2006. Apart from that, Maxco is also registered with JFX (Jakarta Futures Exchange), Indonesian Futures Clearing House, and also a member of Aspebtindo.
Maxco is one of the local brokers integrated with banking and is committed to creating the best trading environment for its clients. This is proven by the many varieties of the best trading conditions; range from low cost to a user-friendly mobile platform. Not only that, this broker also frees clients to use all kinds of trading tricks they want including Day Trading.
On the other hand, Asiatrade Futures is an official local broker whose head office is in Graha Arda Building, Jakarta. This broker has been operating since 2006 and has a license from Bappebti with number 873/BAPPEBTI/SI/1/2006.
As one of the leading brokers in Indonesia, Asiatrade Futures always tries to provide the best service. This can be proven by providing low transaction fees and an easy-to-use platform. As with Maxco, this broker also frees the use of all kinds of strategies, including Day Trading.
What Broker Criteria Are Most Suitable for Day Trading?
In more than one case, there is more than one broker that prohibits the use of certain tricks. Therefore, traders must first make sure whether the broker they are going to use prohibits Day Trading tricks or not.
In addition, Day Traders generally use daily chart references for market analysis, so that a large number of trading positions are opened and closed daily. In order to be able to support these activities to get maximum results, traders must choose a broker with the following conditions:
- Low trading fees
- Low minimum deposit
- High leverage
Comparison of Maxco and Asiatrade Futures for Day Trading
Here is a comparison of Maxco vs Asiatrade Futures brokers that fit specifically for a day trading environment:
Trading Fee Amount
When choosing a broker for day trading, trading costs are a major consideration for traders. This cannot be separated from the many positions that Day Traders may open. The smaller the trading fee offered, the better it will be.
The Maxco broker determines the Variable or floating spread type starting from 0. (zero point) pips with a commission of $ 1 per lot traded. On the other hand, Asiatrade Futures charges spreads of more than 2 pips with a commission of $15 per lot.
Usually, deposit policies for a broker can vary from one to another. For daily traders with large capital, of course this will not be a significant problem. But for Day Traders with small capital, the brokers that can be chosen can be a little more. So, Day Traders must understand the minimum deposit from the broker to manage the trading capital used.
The good news is that Maxco and Asiatrade Futures are local brokers with affordable minimum deposits. At the Maxco broker, a trading account can be opened with a deposit of up to $100. Meanwhile, the Asiatrade Futures broker sets a higher minimum deposit of IDR 10 million.
One of the broker features that is very useful for traders is leverage. With this feature, traders have the opportunity to open positions beyond their actual capital capacity. Small capital Day Traders who like challenges generally tend to choose brokers providing high leverage.
Broker Maxco in this case provides a leverage ratio of up to 1:500. On the other hand, Asiatrade Futures only provides more leverage of up to 1:100.
Choose Maxco or Asiatrade Futures?
Based on the description above, it can be seen that the two brokers offer trading conditions that are different from each other. To make it easier to see which one is the best for Day Trading, please observe the comparison table below:
|💼 CoFTRA Regulations||931/BAPPEBTI/PN/8/2006||873/BAPPEBTI/SI/1/2006|
|🔢Spread||Variable Spreads start from 0. (zero point) pips||Variable Spreads from 2 pips|
|💲Minimal Deposit||$100||IDR 10 million|
Overall, the Maxco broker is almost superior in all comparison factors, from the atmosphere of spreads, commissions, minimum deposits, to leverage ratios. So it can be interpreted that Maxco is more recommended for beginner or professional Day Traders.
Meanwhile, even though Asiatrade Futures is almost inferior in all aspects, this broker still has features that are quite competitive for experienced Day Traders. However, with a relatively high range of spreads and commissions, Asiatrade Futures may be more suitable for Day Trading users who don’t open many positions in a day.
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