BAPPEBTI

Choose the product before choosing the regulator

A BAPPEBTI broker number alone no longer answers every Indonesian derivatives question. Since 10 January 2025, the underlying asset determines whether the transferred business falls under Bank Indonesia or OJK.

The authorities’ joint handover announcement distinguishes money-market/foreign-exchange derivatives, securities derivatives and digital financial assets. BAPPEBTI continues to be the commodity-futures authority. Read the actual contract and underlying asset rather than using a platform’s “forex” or “multi-asset” label as its legal classification.

BI’s PADG 26/2025 overview states an effective date of 1 December 2025, with some provisions phased in. It covers Derivatif PUVA products, participants, infrastructure and consumer protection. The handover FAQ’s transitional continuation of older rules is therefore not a reason to disregard subsequent BI rules.

For securities derivatives, POJK 1/2025 is a separate starting point. OJK’s 20 January 2026 coordination announcement describes completion of the digital-asset transition, not a new transfer beginning in 2026. A foreign licence by itself does not establish the Indonesian permission required for a particular offering.

Monex: one legal company, different regulatory records

Search the contract name PT Monex Investindo Futures, not just the MIFX brand. On 9 October, we opened its BAPPEBTI detail record and searched “Monex” in BI’s financial-market register, including the result’s detail dialog.

The BI numbers remain unreconciled. The provider website and official BI result name the same company but show different letters/numbers. We have not established whether this reflects a later document, a different permission or an outdated disclosure. Ask BI and the company to explain the relevant document and product before treating them as equivalent. The difference does not by itself establish misconduct or absence of permission.

The BAPPEBTI record gives a Sahid Sudirman Center address, [email protected] and 021-27889333. These are record details to compare with the agreement and independently opened website, rather than accepting contact details copied into an unsolicited message.

A quarterly grade answers a different question

BAPPEBTI’s 12 August 2026 publication and its Q2 assessment table list Monex at A+++ for April–June 2026. That review considered financial performance, integrity/compliance and transaction activity, with complaint/sanction/audit deductions. Its 67 active brokers are the assessment-period population, not today’s licensed-firm count. An administrative grade is not a promise of profit, flawless withdrawals, or permission for every product; it is also separate from FXCN’s scores.

A directory entry can coexist with a freeze notice

The BAPPEBTI broker directory still displayed PT Fintech Maju Berjangka in this review. Its 6 May 2026 notice, however, extended that firm’s business freeze for the second time under Decision 04/2026. It also extended the freeze of its broker representatives’ permissions.

This document is a freeze extension, not a licence revocation. It says the action does not erase the company’s responsibility for customer or other-party claims. The dated notice and directory listing alone do not establish whether the freeze was subsequently lifted. Obtain the latest applicable decision before assuming the listed business can accept a new account.

For any firm, search its exact legal name in both the broker directory and official announcements. Distinguish a business permission, an activity approval, a temporary freeze and a revocation. A website that remains accessible does not resolve the regulatory status.

Check the person, destination and agreement separately

1. Match the representative. The Monex record includes named Wakil Pialang Berjangka. A broker’s company permission does not authenticate every salesperson claiming to work for it. Check the individual and current restrictions through the relevant authority.
2. Match the bank recipient. The BAPPEBTI detail page lists separate IDR/USD accounts. Compare current official details, the firm’s independently obtained payment instructions and the beneficiary name. This guide deliberately does not reproduce bank numbers as payment instructions.
3. Read the product and dispute clauses. Establish the underlying asset, Indonesian contract entity, margin/liquidation rules and the complaint body. A BAPPEBTI number cannot answer all the BI/OJK questions created by the transfer.
4. Keep the original evidence. Save the dated agreement, official record, representative identity, payment receipts, order records and withdrawal correspondence. A separate-account listing is not an audit of actual client balances or a government guarantee of repayment.

MIFX advertises withdrawal services on its website. We did not fund an account, trade or request a withdrawal. Those claims have not been tested by FXCN.

Route the complaint by product; keep the approval date

For a commodity-futures dispute under BAPPEBTI

The official online complaint FAQ says the service is for customers (Nasabah) and refers to Regulation 4/2020. Its complaint procedure provides stages involving the broker, exchange and BAPPEBTI. Do not interpret a complaint acknowledgement as an award or repayment.

1. Prepare the submission. Article 6 requires a clear chronology, identity and proof of transfer. A customer’s representative also needs the specified signed power of attorney. Keep originals and use the official portal for personal documents.
2. Record the completeness and approval events. Article 6 provides approval or rejection within two business days after the required documents are completely uploaded. The complaint-handling clock starts when BAPPEBTI approves and forwards the complaint to the broker.
3. Track the broker stage separately. Article 10 sets a maximum of 21 business days after that approval. This is not 21 days from the first email, and not a guaranteed payout deadline. Keep the registration number and stage outcome for any escalation.

MIFX’s own complaint instructions distinguish standard CDD accounts with initial deposits above Rp10 million from simplified CDD accounts at or below that amount; the latter use its complaint channel and describe possible BAKTI escalation. Check the current procedure for the actual account. That provider distinction should not be presented as the universal procedure for every broker or every transferred product.

For money-market or FX derivatives now under BI

The official handover FAQ directs Derivatif PUVA questions and complaints to BICARA. Use BI’s consumer complaint guidance: approach the provider first, retain its response and consult BI about the applicable route. Its guidance describes further dispute-resolution steps through LAPS-SK when unresolved.

BI lists 131, 1500131 from overseas and [email protected]. State the company, contract and underlying asset when asking which procedure applies. Securities-derivatives and digital-asset complaints require the relevant OJK route rather than assuming BAPPEBTI’s 2020 clock applies.

An FXCN report does not file with BAPPEBTI, BI, OJK or an arbitration body. It does not establish liability, preserve every legal deadline or guarantee recovery.

Questions and limits of this review

BAPPEBTI’s Monex detail, broker directory and complaint FAQ, BI’s actual Monex search and detail, and the MIFX main-site disclosure were opened in a browser. Dated notices, the Q2 table and complaint rules were read from official PDFs; other primary-source text was retrieved separately. No trading account, withdrawal, payment or complaint was tested or submitted. Other languages, complete individual permission histories and the unresolved BI/OJK checks require separate review. Send a factual correction.