Below is a comprehensive analysis of TRFX Garuda Berjangka, focusing on the requested aspects, including online complaints, risk assessment, website security, WHOIS lookup, IP and hosting analysis, social media presence, red flags, regulatory status, user precautions, and potential brand confusion. The analysis is based on available information from web sources, critical evaluation, and industry-standard practices for assessing forex brokers. Note that the official website provided is https://garudaberjangka.com, which aligns with some of the referenced data.

1. Broker Overview ¶

TRFX Garuda Berjangka, operating under PT. TRFX Garuda Berjangka, is a forex broker based in Indonesia that offers trading in forex, gold, and oil. It promotes a social trading platform where investors can manually trade or copy trades from signal providers using the MetaTrader 4 (MT4) platform. The broker claims to be regulated by the Indonesian Commodity Futures Trading Supervisory Agency (BAPPEBTI) and is a member of the Jakarta Futures Exchange and Indonesia Clearing House.

2. Online Complaint Information ¶

• Complaints and User Reviews: There is limited specific information about user complaints directly tied to TRFX Garuda Berjangka in the provided sources. However, WikiFX notes that investigators visited the broker’s listed address in Jakarta (SOHO Capital Office Building, Lantai 16, Jl. Letjen S Parman Kav 28, Jakarta Barat, Indonesia 11470) but could not find the dealer’s office, suggesting the address may be registered without a physical business presence. This raises concerns about transparency and operational legitimacy.
• General Trends: Online complaints about forex brokers often involve issues like withdrawal delays, misleading promotions, or unresponsive customer support. The absence of detailed complaint data for TRFX could indicate low user engagement or suppression of negative feedback, but it does not confirm a clean record. Platforms like WikiFX and BrokersView encourage users to report complaints, but no specific cases are highlighted for TRFX.
• Red Flag: The lack of verifiable user reviews or complaints could be a concern, as legitimate brokers typically have a mix of positive and negative feedback. Silence in this area may suggest either low market presence or curated online content.

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3. Risk Level Assessment ¶

• Operational Risks: The inability to locate a physical office at the stated address is a significant risk indicator. This suggests potential misrepresentation or a lack of operational infrastructure, which could complicate dispute resolution or fund recovery.
• Financial Risks: Forex trading inherently carries high risk due to leverage and market volatility. TRFX’s focus on copy trading and signal providers introduces additional risks, as the performance of signal providers may not be guaranteed, and investors could face losses if signals underperform. The lack of detailed information on spreads, leverage, or minimum deposits further obscures risk assessment.
• Regulatory Risks: While TRFX claims BAPPEBTI regulation, sources like BrokersView question the validity of BAPPEBTI as a robust forex regulator, stating it does not issue licenses specifically for forex trading. This suggests that TRFX operates without stringent oversight, increasing the risk of unregulated activities.
• Overall Risk Level: High. The combination of unverifiable office presence, questionable regulatory status, and limited transparency on trading conditions points to elevated risks for investors.

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4. Website Security Tools ¶

• Website Accessibility: At the time of some reviews, the official website (https://trfxgarudaberjangka.com) was reported as inaccessible, which is a major red flag for operational reliability. However, the provided official website (https://garudaberjangka.com) appears to be active based on referenced content.
• SSL/TLS Encryption: A basic security check using tools like SSL Labs (not directly referenced but standard practice) would confirm if https://garudaberjangka.com uses SSL/TLS encryption. Most legitimate brokers employ HTTPS to secure user data. Without direct access to the site during this analysis, I assume it uses standard encryption, but users should verify this using browser tools (look for a padlock icon and HTTPS in the URL).
• Security Red Flags: The reported inaccessibility of the previous domain (trfxgarudaberjangka.com) suggests potential issues with website maintenance or intentional obfuscation. Users should check for security certificates and avoid entering personal information if the site lacks HTTPS or shows certificate errors.
• Recommendations: Use tools like Google Safe Browsing or VirusTotal to check for malware or phishing risks before interacting with the website.

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5. WHOIS Lookup ¶

• Domain Information: A WHOIS lookup for https://garudaberjangka.com (using standard tools like WHOIS.net or ICANN Lookup, not directly referenced) typically reveals:
• Registrant: Likely PT. TRFX Garuda Berjangka or a related entity, but privacy protection services may obscure this.
• Registration Date: The domain was referenced in content published on September 14, 2021, suggesting it was registered before this date.
• Registrar: Likely an Indonesian or international registrar, depending on hosting preferences.
• Red Flags: If the domain uses privacy protection to hide registrant details or was recently registered (e.g., within the last year), it could indicate a lack of established credibility. Users should verify the domain’s age using tools like TrustedBrokers’ domain age checker, as recently registered domains are riskier.
• Brand Confusion Note: The existence of two domains (trfxgarudaberjangka.com and garudaberjangka.com) may confuse users. The older domain’s inaccessibility and the shift to a new domain could indicate rebranding or an attempt to distance from negative associations.

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6. IP and Hosting Analysis ¶

• Hosting Provider: Without direct access to IP lookup tools (e.g., WHOIS.domaintools.com or Cloudflare Radar) in the provided data, I cannot specify the hosting provider for https://garudaberjangka.com. Typically, legitimate brokers use reputable hosting providers like AWS, Google Cloud, or local Indonesian providers for reliability.
• IP Geolocation: The broker’s Indonesian base suggests hosting in or near Indonesia for low latency, but offshore hosting (e.g., in Singapore or the US) is common for forex brokers. Users can check the IP using tools like Pingdom or MXToolbox to confirm geolocation.
• Red Flags: Hosting on low-cost or obscure providers, frequent IP changes, or shared hosting with unrelated sites could indicate cost-cutting or suspicious operations. The inaccessibility of the previous domain (trfxgarudaberjangka.com) may suggest hosting instability.
• Recommendations: Use tools like SecurityTrails to monitor IP history and ensure the hosting provider is reputable. Avoid brokers with unstable or frequently changing hosting setups.

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7. Social Media Presence ¶

• Activity: The broker emphasizes a “social trading platform” where users can interact and share information, suggesting some social media presence (e.g., WhatsApp groups, Instagram, or Twitter) to promote its services. However, specific social media accounts are not detailed in the provided sources.
• Risks: Social media is a common vector for forex scams, with fraudsters using WhatsApp groups or Instagram to lure victims with promises of high returns. The Malaysia Cyber Consumer Association warns of scammers mimicking legitimate brokers on messaging apps, which could apply to TRFX if its social media presence is unverified.
• Red Flags: Lack of verifiable social media accounts or the use of unofficial groups (e.g., WhatsApp groups run by “signal providers”) could indicate affinity fraud or Ponzi schemes. Users should verify that any social media accounts are officially linked to the broker’s website.
• Recommendations: Check for official social media links on https://garudaberjangka.com and avoid joining unverified groups. Use tools like Social Blade to assess account authenticity and engagement.

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8. Red Flags and Potential Risk Indicators ¶

• Unverifiable Office: The inability to locate a physical office at the listed address is a major red flag, suggesting potential misrepresentation.
• Website Inaccessibility: The reported inaccessibility of trfxgarudaberjangka.com raises concerns about operational reliability or intentional obfuscation.
• Questionable Regulation: BAPPEBTI’s role as a regulator is disputed, as it does not specifically license forex trading, undermining TRFX’s regulatory claims.
• Lack of Transparency: Limited information on spreads, leverage, minimum deposits, and contact details (e.g., no phone number provided) reduces transparency.
• Brand Confusion: The use of multiple domains (trfxgarudaberjangka.com and garudaberjangka.com) and potential name changes (e.g., previously PT. Laba Forexindo Berjangka) could confuse users or indicate rebranding to avoid negative associations.
• Social Trading Risks: The emphasis on copy trading and signal providers introduces dependency on third-party performance, which may not be vetted or guaranteed.
• Affinity Fraud Potential: The broker’s focus on community-driven trading and social media interaction raises the risk of affinity fraud, where scammers exploit trust within groups.

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9. Website Content Analysis ¶

• Content Overview: The website (https://garudaberjangka.com) promotes forex, gold, and oil trading with a focus on social trading and copy trading via MT4. It highlights BAPPEBTI regulation, membership in the Jakarta Futures Exchange, and automated trading through signal providers.
• Claims and Promises: The site emphasizes “optimal returns” and “successful traders,” which could be misleading if not backed by verifiable performance data. Such claims are common in forex scams to attract novice traders.
• Transparency: The lack of detailed trading conditions (e.g., spreads, leverage) and direct contact information (e.g., phone numbers) is concerning. Legitimate brokers typically provide comprehensive details to build trust.
• Red Flags: Overemphasis on automated trading and high returns without clear risk disclosures suggests potential misrepresentation. The site’s focus on social trading may exploit novice traders’ trust in “successful” signal providers.

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10. Regulatory Status ¶

• Claimed Regulation: TRFX claims to be regulated by BAPPEBTI and is a member of the Jakarta Futures Exchange and Indonesia Clearing House. WikiFX verifies BAPPEBTI regulation but assigns a low score (3.20/10) due to limited oversight strength.
• Critical Evaluation: BrokersView disputes BAPPEBTI’s authority to regulate forex trading, stating it does not issue specific forex licenses. This suggests TRFX operates in a loosely regulated environment, increasing risks for investors.
• Comparison to Global Standards: Reputable brokers are regulated by tier-1 authorities like the FCA (UK), ASIC (Australia), or CySEC (EU), which offer investor protection schemes (e.g., FSCS in the UK). BAPPEBTI lacks comparable safeguards, making TRFX less secure than brokers under stricter jurisdictions.
• Regulatory Status: Questionable. While BAPPEBTI regulation is verified, its limited scope and lack of forex-specific licensing undermine its credibility.

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11. User Precautions ¶

To mitigate risks when considering TRFX Garuda Berjangka, users should:

1. Verify Regulation: Check BAPPEBTI’s website (https://www.bappebti.go.id) to confirm TRFX’s licensing status and scope. Cross-check with global regulators if considering international brokers.
2. Conduct Due Diligence: Use platforms like WikiFX or BrokersView to review user feedback and broker ratings. Avoid brokers with unverifiable offices or limited transparency.
3. Test Website Security: Ensure https://garudaberjangka.com uses HTTPS and has valid SSL certificates. Avoid entering personal information if the site shows security warnings.
4. Start Small: If trading, begin with a small deposit to test withdrawal processes. Be cautious of brokers refusing withdrawals or pressuring for larger deposits.
5. Avoid Social Media Traps: Do not join unverified WhatsApp or Telegram groups promising high returns. Verify social media accounts through the official website.
6. Understand Risks: Acknowledge the high risks of forex trading, especially with copy trading, and only invest funds you can afford to lose.
7. Monitor for Scams: Be wary of “too good to be true” promises, such as guaranteed returns or no-risk trading. Report suspicious activity to regulators like BAPPEBTI or the SEC.

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12. Potential Brand Confusion ¶

• Multiple Domains: The broker operates under https://garudaberjangka.com and previously https://trfxgarudaberjangka.com, which may confuse users. The older domain’s inaccessibility suggests a rebranding or attempt to distance from negative associations.
• Name Changes: References to PT. Laba Forexindo Berjangka and SoegeeFX in connection with TRFX indicate potential name changes, which could be a tactic to evade scrutiny or negative reputation.
• Clone Firm Risk: Scammers may create fake websites mimicking TRFX (e.g., using typos like garuda-berjangka.com). Users should verify the exact URL (https://garudaberjangka.com) and avoid similar domains.
• Garuda Indonesia: The use of “Garuda” in the name could cause confusion with Garuda Indonesia, the national airline, which has no connection to forex trading. This may be an intentional attempt to leverage a trusted brand name.
• Recommendations: Always access the broker through the official URL and verify domain authenticity using WHOIS tools. Be cautious of unsolicited communications claiming affiliation with TRFX.

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13. Conclusion ¶

TRFX Garuda Berjangka presents several concerns that warrant caution:

• High Risk: The unverifiable office, questionable regulatory status, and lack of transparency on trading conditions indicate significant operational and financial risks.
• Red Flags: Inaccessible previous domain, potential brand confusion, and reliance on social trading without clear risk disclosures suggest possible misrepresentation.
• Regulatory Weakness: BAPPEBTI regulation is verified but lacks the robustness of tier-1 regulators, leaving investors with limited protection.
• User Precautions: Thorough due diligence, small initial investments, and avoidance of unverified social media groups are critical to mitigate risks. Given these findings, TRFX Garuda Berjangka cannot be considered a reliable broker without further evidence of operational integrity and regulatory oversight. Investors should explore brokers regulated by tier-1 authorities (e.g., FCA, ASIC) for greater security and transparency.

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14. Recommendations for Further Investigation ¶

• Contact BAPPEBTI: Verify TRFX’s license directly with BAPPEBTI (https://www.bappebti.go.id) and inquire about its forex trading permissions.
• Monitor User Feedback: Check platforms like WikiFX, BrokersView, or forex forums (e.g., Forex Factory) for emerging complaints or reviews.
• Perform Technical Checks: Use WHOIS, SSL Labs, and IP lookup tools to assess the website’s authenticity and hosting stability.
• Engage Customer Support: Test TRFX’s customer support responsiveness and transparency by requesting detailed trading conditions and withdrawal policies. If you need specific tools or further analysis (e.g., running a WHOIS lookup or checking social media accounts), please provide additional details or confirm access to the website, and I can guide you through the process.

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Note: This analysis is based on available data as of April 24, 2025, and reflects a critical evaluation of TRFX Garuda Berjangka. Always conduct independent research before engaging with any broker.