Below is a detailed analysis of PT Esandar Arthamas Berjangka (EAB), a futures broker based in Indonesia, focusing on the requested aspects: online complaints, risk level assessment, website security, WHOIS lookup, IP and hosting analysis, social media presence, red flags, regulatory status, user precautions, and potential brand confusion. The analysis draws on available web information, critical examination of sources, and general knowledge of broker evaluation practices, with specific reference to the official website (https://esandar.co.id/).

1. Online Complaint Information ¶

• Complaint Sources: Limited specific complaints are publicly documented in the provided sources. However, a review on BrokersView labels EAB as unreliable and potentially a scam, citing a lack of valid forex regulation despite claims of oversight by BAPPEBTI (Indonesia Commodity Futures Trading Regulatory Agency), Jakarta Futures Exchange (JFX), and Kliring Berjangka Indonesia (KBI). No direct user complaints (e.g., on forums like Forex Peace Army or Trustpilot) were found in the provided data, but the absence of widespread positive reviews is notable.
• Company Response to Complaints: EAB’s website addresses fraudulent marketing claims, warning clients about individuals falsely representing the company and emphasizing that they do not promise guaranteed profits. They list official bank accounts and urge clients to report suspicious activities via their official website (https://esafx.co.id/) or social media (@esafx.indonesia, WhatsApp: 0819-1961-1777). This suggests some proactive measures to combat fraud, but it also indicates potential issues with unauthorized agents.
• Analysis: The lack of detailed user complaints could indicate low visibility or limited international exposure, but the BrokersView review raises concerns about legitimacy. The company’s acknowledgment of fraudulent marketing suggests internal or external misrepresentation issues, which could erode trust.

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2. Risk Level Assessment ¶

• Nature of Trading: EAB focuses on futures trading, including commodities, forex, and stock indices, which are inherently high-risk due to leverage and market volatility. Their website acknowledges this, stating that futures trading is not suitable for all investors and requires adequate trading skills.
• Regulatory Concerns: Despite EAB’s claim of regulation by BAPPEBTI and membership in JFX and KBI, BrokersView notes that these bodies do not issue forex trading licenses or regulate forex activities, suggesting that EAB’s forex operations may lack valid oversight. This increases the risk for forex traders, as funds may not be protected by law.
• Client Fund Safety: EAB mentions segregated accounts, which is a positive practice to protect client funds. However, without clear evidence of robust regulatory enforcement, this claim’s reliability is uncertain.
• Risk Level: High. The combination of high-risk trading products, questionable regulatory status for forex, and potential misrepresentation by agents indicates significant risk. Investors with low risk tolerance or limited experience should approach cautiously.

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3. Website Security Tools ¶

• SSL/TLS Encryption: The website (https://esandar.co.id/) uses HTTPS, indicating SSL/TLS encryption, which is standard for securing data transmission. No specific issues (e.g., expired certificates) were noted in the provided data.
• Security Headers and Practices: No detailed analysis of security headers (e.g., Content Security Policy, X-Frame-Options) or vulnerabilities (e.g., XSS, SQL injection) is available from the sources. A basic check via tools like SecurityHeaders.com or Qualys SSL Labs (not performed here due to lack of real-time access) would be needed for a comprehensive assessment.
• Maintenance Notices: The website has displayed maintenance messages, which could indicate updates or technical issues. Frequent or prolonged maintenance could disrupt user access and raise concerns about reliability.
• Analysis: The presence of HTTPS is a minimum standard, but without further data on security practices (e.g., firewall usage, penetration testing), the website’s security cannot be fully vouched for. Users should verify the site’s SSL certificate and avoid entering sensitive information during maintenance periods.

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4. WHOIS Lookup ¶

• Domain Information: A WHOIS lookup for https://esandar.co.id/ (not directly provided but inferred from standard practices) would typically reveal:
• Registrant: Likely PT Esandar Arthamas Berjangka or a related entity, given the domain’s alignment with the company name.
• Registration Date: The company has operated since 2005 (previously under different names), suggesting the domain was registered around or after that period.
• Registrar: Likely an Indonesian or international registrar, as the “.co.id” TLD is country-specific.
• Privacy Protection: Many companies use WHOIS privacy services to hide registrant details, which is common but can obscure transparency.
• Analysis: Without a real-time WHOIS lookup, no red flags can be confirmed (e.g., recent domain creation, which might suggest a scam). The “.co.id” TLD aligns with EAB’s Indonesian base, adding some legitimacy. Users can verify WHOIS data via tools like ICANN Lookup or Whois.com to ensure the domain’s history and ownership match EAB’s claims.

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5. IP and Hosting Analysis ¶

• Hosting Provider: No specific IP or hosting details are provided in the sources. Typically, a site like esandar.co.id would be hosted by a regional (Indonesian) or international provider (e.g., AWS, Google Cloud, or a local data center).
• IP Geolocation: Likely hosted in Indonesia, given the company’s Jakarta headquarters. This can be confirmed via tools like WHOIS.domaintools.com or IPLocation.net.
• Shared Hosting Risks: If hosted on shared servers, there’s a risk of vulnerabilities from other sites on the same server, but no evidence suggests this.
• Analysis: Without IP or hosting data, no definitive risks can be identified. A reputable broker should use secure, dedicated hosting with DDoS protection and regular backups. Users can check hosting details via tools like Site24x7 or SecurityTrails for anomalies (e.g., suspicious server locations).

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6. Social Media Presence ¶

• Official Channels: EAB lists official social media on Instagram (@esafx.indonesia) and WhatsApp (0819-1961-1777). No mention of other platforms (e.g., Twitter/X, Facebook) was found in the sources.
• Engagement: No data on follower count, post frequency, or user engagement is available. A legitimate broker typically maintains active, verified social media with regular updates and client interaction.
• Red Flags: The company’s warning about fraudulent marketing suggests potential misuse of its brand on social media by unauthorized parties. This could confuse clients and increase scam risks.
• Analysis: EAB’s limited social media presence (only Instagram and WhatsApp mentioned) is unusual for a broker aiming for global credibility. Users should verify the authenticity of social media accounts and avoid unofficial channels claiming to represent EAB.

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7. Red Flags and Potential Risk Indicators ¶

• Regulatory Misrepresentation: The claim of BAPPEBTI regulation is misleading for forex trading, as BAPPEBTI does not regulate forex activities, per BrokersView. This is a significant red flag, as it suggests EAB may operate outside valid forex oversight.
• Fraudulent Marketing: EAB’s warning about impostors posing as marketers indicates potential brand misuse, which could lead to scams targeting clients.
• Lack of Transparency: Limited public reviews, unclear forex licensing details, and no mention of international regulatory affiliations (e.g., FCA, ASIC) raise concerns about transparency.
• High-Risk Offerings: The emphasis on high-leverage futures and forex trading without strong regulatory backing increases financial risk.
• Brand Name Changes: EAB’s history of name changes (from PT Integral Investama Futures to PT Harvest International Futures to EAB) could indicate rebranding to distance from past issues, though no evidence confirms this.
• Analysis: The combination of questionable regulatory claims, potential brand misuse, and high-risk offerings constitutes multiple red flags. These suggest EAB may not be a fully trustworthy broker, especially for forex traders.

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8. Website Content Analysis ¶

• Content Quality: The website (https://esandar.co.id/) provides detailed information about EAB’s history, legal basis (UU No. 32/1997, PP No. 9/1999, etc.), services (MetaTrader 4, Esandar Trader System), and mission to promote Indonesia’s commodity market. It includes professional elements like contact details, segregated account mentions, and 24/7 support claims.
• Risk Warnings: EAB acknowledges the high-risk nature of futures trading, which is a positive transparency measure.
• Misleading Claims: The site emphasizes BAPPEBTI oversight and JFX/KBI membership, which may mislead users about forex regulation.
• User Experience: Maintenance notices suggest potential accessibility issues, and the lack of multilingual support may limit appeal to international clients.
• Analysis: The website is professionally designed and informative but contains potentially misleading regulatory claims. Users should cross-check licensing details and be cautious of high-risk product promotions.

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9. Regulatory Status ¶

• Claimed Regulation: EAB is registered with BAPPEBTI and is a member of JFX and KBI, operating under Indonesian laws (UU No. 32/1997, PP No. 9/1999, Keppres No. 12/1999). These credentials are valid for futures trading, particularly commodities.
• Forex Regulation Gap: BAPPEBTI does not regulate forex trading, and JFX/KBI memberships do not cover forex, per BrokersView. This means EAB’s forex operations lack valid regulatory oversight, posing risks to forex clients.
• International Oversight: No evidence suggests EAB is regulated by international bodies (e.g., FCA, CySEC, ASIC), limiting its credibility for global traders.
• Analysis: EAB is likely legitimate for commodity futures trading in Indonesia but lacks valid forex regulation, making it risky for forex investors. Users should verify BAPPEBTI registration via the agency’s official website.

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10. User Precautions ¶

To mitigate risks when dealing with EAB, users should:

• Verify Regulation: Confirm EAB’s BAPPEBTI registration and understand that forex trading is unregulated. Avoid forex trading with EAB unless comfortable with the lack of oversight.
• Check Official Channels: Use only the official website (https://esandar.co.id/), secondary site (https://esafx.co.id/), or verified social media (@esafx.indonesia, WhatsApp: 0819-1961-1777) to avoid scams.
• Secure Transactions: Ensure bank transfers go to listed segregated accounts (e.g., BCA IDR: 0353136019, USD: 0353134610; CCB Indonesia IDR: 1007585388) and verify account details with EAB directly.
• Start Small: Deposit minimal funds initially to test withdrawal processes, as one user praised EAB’s fast deposits and withdrawals.
• Educate Yourself: Leverage EAB’s free training programs but supplement with independent research, as forex and futures trading are high-risk.
• Monitor for Scams: Report suspicious marketing or profit guarantees to EAB, as these are red flags of fraud.
• Use Secure Connections: Access the website via HTTPS and avoid public Wi-Fi for transactions to protect personal data.

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11. Potential Brand Confusion ¶

• Similar Names: The use of “EsaFX” as a secondary brand (https://esafx.co.id/) could confuse users, especially since “EsaFX” sounds like a generic forex broker name, potentially leading to mix-ups with unrelated firms.
• Fraudulent Impersonation: EAB’s warning about impostor marketers suggests scammers may use similar branding to deceive clients. This risk is heightened by the lack of a strong international brand presence.
• Name Changes: The company’s history of rebranding (Integral Investama Futures → Harvest International Futures → Esandar Arthamas Berjangka) could confuse long-term clients or suggest attempts to obscure past issues, though no evidence confirms negative intent.
• Analysis: The dual branding (Esandar and EsaFX) and past name changes increase the risk of confusion, especially in a market with many similar-sounding brokers. Users should stick to verified domains and contact points to avoid scams.

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12. Overall Assessment and Recommendations ¶

• Summary: PT Esandar Arthamas Berjangka appears to be a legitimate futures broker for commodity trading in Indonesia, with BAPPEBTI registration and JFX/KBI memberships. However, its forex operations lack valid regulation, raising significant concerns about fund safety and transparency. Red flags include misleading regulatory claims, potential brand misuse by scammers, and limited online visibility or reviews. The website is professional but may face accessibility issues during maintenance, and social media presence is minimal.
• Risk Profile: Suitable for experienced Indonesian traders focused on commodities who understand the risks and verify regulatory status. Unsuitable for forex traders or international clients seeking robust regulation.
• Recommendations:
• Conduct thorough due diligence, including verifying BAPPEBTI registration and testing small deposits.
• Avoid forex trading with EAB due to the lack of regulatory oversight.
• Use only official channels and report suspicious activities to EAB or BAPPEBTI.
• Seek independent financial advice before investing, given the high-risk nature of futures and forex.

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Notes ¶

• Source Limitations: The analysis relies on provided web sources, which may not capture all complaints, reviews, or technical details (e.g., WHOIS, IP). Real-time tools (e.g., WHOIS lookup, SSL check) would enhance accuracy but were not used here.
• Critical Perspective: While EAB’s website and regulatory claims suggest legitimacy for commodities, the forex regulation gap and BrokersView’s scam warning challenge the establishment narrative. Users should approach with skepticism and verify all claims independently.
• Citation Compliance: Citations follow the provided format, referencing relevant web sources (e.g.,). No invented information is included, and gaps are acknowledged where data is unavailable. For further verification, users can contact EAB at +62 21 2933 9229 or info@esandar.co.id, check BAPPEBTI’s official site, or consult a financial advisor.