Didimax is an Indonesian Forex broker which was established back in 2000. The broker was primarily focused on providing commodities and indices to local traders and has only recently started offering Forex pairs as well.
Let’s dive in and discover if Didimax is the broker recommended for you.
The Safety and Security of Didimax Forex broker
Didimax is regulated by the BAPPEBTI which stands for “Badan Pengawas Perdagangan Berjangka Komoditi,” which is the Indonesian Commodity Futures Trading Regulatory Authority. BAPPEBTI is not as strict as global Forex regulators, and it heavily focuses on regulating commodities and futures markets rather than Forex brokers. This information is crucial for traders, as the security provided by this regulator specifically for FX trading may be lower.
Additionally, there is no negative balance protection to prevent traders from losing more than their initial investment amount, making it a risky business for beginners to choose Didimax as their primary Forex broker.
However, segregated accounts are offered and Didimax ensures client fund safety.
Didimax Fees and Spreads
When it comes to spreads, Didimax offers 2 pips on major pairs, 3.5 pips for commodities, and indices 1.5 pips. Since Didimax is primarily a commodities and futures broker, these low spreads are understandable on these assets. However, 2 pips spread on major pairs is higher than the industry-average 1 pip. Trading is commission-free on Didimax MT5 and Jafetscolt platforms.
As for non-trading commissions, there are no fees charged for deposits, withdrawals, or inactivity.
Accounts, Deposits, and Withdrawals of Didimax
Unfortunately, there is only one live account at Didimax offering a higher minimum lot size from 0.1 lots. The minimum deposit is 100 USD or INR and the maximum leverage is capped at 1:400. The Order execution model is NDD (No Dealing Desk), meaning all trading orders are transferred to liquidity providers of the broker, eliminating conflicts of interest. With a minimum deposit of 100 USD and 1:400 maximum leverage, it is disadvantageous that there is no option for 0.01 lots for beginners. The account comes with an Islamic account option providing appealing terms for Sharia law followers.
Deposits and withdrawals
There are only several Indonesian banks supported for payment options. This prevents global traders from even funding their trading account if they want to trade with Didimax.
Trading Assets and Features of Didimax
There are only around 20 tradable instruments offered in Forex pairs, commodities, and indices. This is a very low number considering that the majority of brokers offer much more diverse assets and more tradable instruments. Didimax offers attractive conditions for only commodities and indices traders but fails to deliver on the Forex pairs department, which can be considered as a bonus to the other two asset classes.
Didimax Customer Support Review
Customer support is only available in the Indonesian language, which is another downside of Didimax. Besides this, the support channels offered are plenty. Live chat, email support, and phone support are all offered. The website is multilingual and available in English and Indonesian languages.
Didimax Education
While offering diverse educational resources to traders, the majority of Didimax resources are paid ones. Webinars, trading courses, and private courses are all paid, and the broker has a dedicated educators team. There is an option for free educational resources that include numerous articles about different Forex trading concepts.
As for market research tools, there are only economic calendars, and market news available.
Should you consider Didimax as your primary broker?
Is Didimax a safe and secure broker?
Can you trade from anywhere at Didimax?
Are Didimax spreads low?
