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Inter Pan Review - is it scam or safe?

Inter Pan Review - Is fxinterpan.com scam or good forex broker?

RATING: 2.5 / 1 REVIEWS Inter Pan
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Trading Accounts

  

Account type Minimum deposit  Maximum leverage Spread
Standard Unknown Unknown Fixed from 3 pips

 

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.

 

>>Other Forex brokers in Indonesia<<

 

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. Here is how the platform provided by Inter Pan looks (click to zoom):

 

 

>>Other MT5 forex brokers<<

 

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.

 

>>Compare the lowest spreads here<<

 

While spreads shouldn’t be your main concern, trading with the level provided by Inter Pan will add up over time.

 

Conclusion

 

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.

 

>>FCA regulated 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.

 

Here are the pros and cons of Inter Pan:

 

Pros Cons
Regulated in Indonesia Poor presentation
Established local player Missing key information
MetaTrader5 trading platform

High fixed spreads

 

 

 

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Traders` reviews for Inter Pan

Spread

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Slippage

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Requotes

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Price feed

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Platform

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Deposit/Withdraw

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Customer service

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Summary

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the safety of clients's properties

Working with Inter Pan Myanmar, I got the most unpleasant experience. I lost my whole investment. The staff from clients are totally untrustworthy and unprofessional. The management is 100% irresponsible. It is not safe to work with Inter Pan at all.

Kay Khaing Win 12/24/2018
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