Below is a comprehensive analysis of PT. Mahadana Asta Berjangka, a futures broker based in Indonesia, based on the requested criteria. The analysis draws on available information, including the provided search results, and critically evaluates the broker’s operations, legitimacy, and potential risks.

1. Online Complaint Information ¶

Sources of Complaints:
An employee review on Indeed.com (dated July 24, 2024) alleges that PT. Mahadana Asta Berjangka engages in deceptive practices, claiming a discrepancy between the product knowledge provided and actual practices. The reviewer stated, “Penipu, antata informasi product knowledge dan praktek yg dilakukan berbeda. Dana nsb dibuat habi…” (translated: “Fraud, the product knowledge information and the practices carried out are different. Customer funds are depleted”). This is a serious allegation but comes from a single, unverified source and lacks specific details.
No widespread customer complaints were found in the provided search results or readily available public forums (e.g., Trustpilot, Forex Peace Army). However, the lack of visible complaints does not necessarily indicate a clean record, as complaints may exist in less accessible Indonesian-language forums or private channels.
Analysis:
The single complaint raises concerns about transparency and fund management but is insufficient to establish a pattern of misconduct without corroboration.
The absence of widespread complaints could reflect low visibility in international markets or effective complaint suppression, but it may also suggest that the broker operates without significant issues for most clients.
Risk Level: Moderate. The single complaint is concerning, but without additional evidence, it’s not conclusive. Users should seek further reviews on Indonesian platforms (e.g., Kaskus, Google Reviews) to assess the prevalence of issues.

2. Risk Level Assessment ¶

Nature of Business:
PT. Mahadana Asta Berjangka operates in futures trading, offering products like forex, stock indices, and gold (Loco London). Futures trading inherently carries high financial risk due to leverage and market volatility, as noted in the broker’s risk disclosure: “Kerugian dan keuntungan dalam perdagangan Kontrak Berjangka bisa mencapai jumlah yang sangat besar” (translated: “Losses and profits in futures contract trading can reach very large amounts”).
The broker explicitly warns that futures trading may not be suitable for all investors, aligning with regulatory requirements but also highlighting the high-risk nature of its services.
Operational Risks:
The broker claims to use segregated accounts monitored by BAPPEBTI and Kliring Berjangka Indonesia (KBI), which reduces the risk of fund misappropriation. However, the effectiveness of this oversight depends on the integrity of these institutions and the broker’s compliance.
Allegations of fraud (e.g., the Indeed review) suggest potential operational risks, such as mismanagement of client funds or misleading marketing practices.
Risk Level: High (due to the inherent risks of futures trading and the single fraud allegation). Investors must have sufficient financial resources and risk tolerance to engage with this broker.

3. Website Security Tools ¶

SSL/TLS Encryption:
The official website (https://mahadana.co.id/) uses HTTPS, indicating SSL/TLS encryption. This ensures that data transmitted between the user and the website (e.g., login credentials, personal information) is encrypted and protected from interception.
Security Headers:
A basic analysis using tools like SecurityHeaders.com (not directly performed but inferred from standard practices) suggests that modern websites should implement headers like Content Security Policy (CSP), X-Frame-Options, and Strict-Transport-Security (HSTS). Without specific data, it’s unclear if Mahadana’s website fully implements these, but the presence of HTTPS is a positive baseline.
Login and Account Security:
The broker offers online account opening through its “Client Area” and supports MetaTrader 4 (MT4), a widely used platform with standard security features like password protection and two-factor authentication (2FA) in some implementations. However, there’s no explicit mention of 2FA on the website, which could be a security gap.
Analysis:
The use of HTTPS is standard and reassuring, but additional security measures (e.g., 2FA, robust security headers) are critical for a financial services website. Users should verify the implementation of these features before sharing sensitive information.
Risk Level: Low to Moderate. The website appears to have basic security, but the lack of detailed information on advanced protections warrants caution.

4. WHOIS Lookup ¶

Domain Information:
Domain: mahadana.co.id
Registrar: Likely an Indonesian registrar, as .co.id domains are restricted to Indonesian entities (e.g., businesses registered in Indonesia).
Registration Date: The website has been active since at least 2005, consistent with the broker’s claimed establishment date.
Registrant: Likely PT. Mahadana Asta Berjangka, though WHOIS privacy may obscure specific details. Indonesian domains typically require proof of local business registration, adding a layer of legitimacy.
Analysis:
The long-standing domain registration aligns with the broker’s claimed history, reducing the likelihood of it being a fly-by-night operation.
The .co.id domain restriction suggests compliance with Indonesian regulations, as only registered businesses can obtain such domains.
Risk Level: Low. The domain appears legitimate and consistent with the broker’s operations.

5. IP and Hosting Analysis ¶

Hosting Provider:
Without direct access to tools like WHOIS.domaintools.com or a reverse IP lookup, it’s assumed that the website is hosted by a reputable provider, given its long operational history and professional appearance. Common providers for Indonesian businesses include local firms (e.g., Biznet) or global providers (e.g., AWS, Cloudflare).
IP Geolocation:
The IP is likely based in Indonesia, consistent with the broker’s Jakarta headquarters. This reduces concerns about offshore hosting in high-risk jurisdictions.
Shared Hosting Risks:
If the website uses shared hosting (unlikely for a financial services provider), it could be vulnerable to attacks targeting other sites on the same server. A dedicated server or cloud-based hosting (e.g., AWS) would be more secure.
Analysis:
The lack of specific IP/hosting data limits the analysis, but the broker’s established presence suggests professional hosting. Users can verify the hosting provider using tools like SecurityTrails or BuiltWith for added confidence.
Risk Level: Low to Moderate. No red flags are apparent, but users should confirm hosting details independently.

Official Accounts:
LinkedIn: PT. Mahadana Asta Berjangka maintains active LinkedIn profiles with 2,800+ followers, posting job openings and corporate updates. This suggests a professional online presence.
Facebook: A Facebook page exists with 266 likes and mentions physical office locations in Jakarta, indicating some community engagement.
Other Platforms: No mention of Twitter/X, Instagram, or Telegram accounts in the provided results, which is unusual for a modern broker. This limited social media footprint may reflect a focus on local markets or a conservative marketing strategy.
Red Flags:
The broker has warned about fraudulent social media accounts impersonating the company, particularly on WhatsApp and other platforms, offering guaranteed profits. This indicates a risk of scams exploiting the Mahadana brand.
Analysis:
The LinkedIn and Facebook presence is positive, but the limited activity on other platforms may hinder transparency and client engagement.
The warnings about impersonation are proactive but highlight the need for users to verify the authenticity of any social media or messaging interactions.
Risk Level: Moderate. The legitimate social media presence is offset by the risk of fraudulent accounts, requiring users to exercise caution.

7. Red Flags and Potential Risk Indicators ¶

Fraud Allegations:
The Indeed review alleging fraud is a significant red flag, though unverified. It suggests potential issues with transparency or fund handling.
Impersonation Scams:
The broker has issued multiple warnings (2021 and 2022) about scams using its name, including fake websites and WhatsApp accounts promising guaranteed profits, which are illegal under Indonesian futures trading regulations. This indicates a persistent issue with brand misuse.
High-Risk Products:
The focus on leveraged products (forex, indices, gold) carries inherent risks, and the broker’s risk disclosure emphasizes the potential for significant losses. This is standard but underscores the need for investor caution.
Limited International Visibility:
The broker primarily targets Indonesian clients, with minimal presence in global review platforms. This could indicate a niche operation but also limits scrutiny from international regulators or communities.
Analysis:
The combination of a fraud allegation, impersonation scams, and high-risk products raises concerns, though the broker’s regulatory status and proactive warnings mitigate some risks.
Risk Level: Moderate to High. The red flags warrant careful due diligence by potential clients.

8. Website Content Analysis ¶

Content Quality:
The website (https://mahadana.co.id/) provides detailed information about the broker’s services, regulatory status, risk disclosures, and contact details. It emphasizes transparency, segregated accounts, and compliance with BAPPEBTI.
Features like a demo account, trading tools, and MT4 integration are highlighted, catering to both novice and experienced traders.
Risk Disclosures:
The website includes a clear risk warning, as required by Indonesian law (Undang-Undang Nomor 32 Tahun 1997, amended by Nomor 10 Tahun 2011), stating that futures trading carries significant risks and may not be suitable for all investors. This is a positive sign of regulatory compliance.
Professionalism:
The website is professionally designed, with clear navigation and multilingual support (English and Bahasa Indonesia). However, some sections (e.g., disclaimers) include standard boilerplate language, which is common but not particularly distinctive.
Analysis:
The website content is robust and compliant with regulatory standards, providing essential information for informed decision-making.
The emphasis on demo accounts and educational tools suggests a commitment to client support, though users should verify the quality of these resources.
Risk Level: Low. The website content aligns with industry standards and regulatory requirements.

9. Regulatory Status ¶

Licensing:
PT. Mahadana Asta Berjangka is registered with BAPPEBTI (Badan Pengawas Perdagangan Berjangka Komoditi) under license number 834/BAPPEBTI/PN/11/2005. It is also a member of:
Bursa Berjangka Jakarta (BBJ) (SPAB – 042/BBJ/11/01)
Kliring Berjangka Indonesia (KBI) (42/AK – KBI/VI/2006)
Asosiasi Pialang Berjangka Indonesia (APBI)
These affiliations indicate compliance with Indonesian regulations for futures brokers, including oversight of segregated accounts and trading activities.
Regulatory Oversight:
BAPPEBTI is the primary regulator for futures trading in Indonesia, and its oversight includes monitoring segregated accounts and handling customer complaints via an online system (https://pengaduan.bappebti.go.id).
The broker’s membership in BBJ and KBI ensures that trades are cleared and settled through regulated exchanges, reducing counterparty risk.
Analysis:
The broker’s regulatory status is strong, with clear evidence of licensing and affiliations with reputable Indonesian institutions.
However, BAPPEBTI’s regulatory framework is less stringent than that of global regulators like the FCA (UK) or ASIC (Australia), which may limit protections for international clients.
Risk Level: Low. The broker is well-regulated within Indonesia, but international clients should be aware of jurisdictional limitations.

10. User Precautions ¶

To mitigate risks when dealing with PT. Mahadana Asta Berjangka, users should:

Verify Official Channels:
- Only use the official website (https://mahadana.co.id/) and verified contact details (e.g., cs@mahadana.co.id, phone: 021-2506633). Avoid engaging with unsolicited offers on WhatsApp or social media.
Check Regulatory Status:
- Confirm the broker’s license with BAPPEBTI (https://bappebti.go.id/) and verify its membership with BBJ and KBI.
Use Demo Accounts:
- Test the platform with a demo account to assess functionality and reliability before depositing funds.
Monitor Funds:
- Regularly check account balances and ensure withdrawals are processed promptly (the broker claims same-day withdrawals).
Research Reviews:
- Seek additional reviews on Indonesian platforms and contact BAPPEBTI’s complaint portal if issues arise.
Understand Risks:
- Acknowledge the high risks of futures trading and only invest funds you can afford to lose.
Secure Accounts:
- Use strong passwords and enable 2FA (if available) for MT4 and client area access.

11. Potential Brand Confusion ¶

Impersonation Risks:
The broker has reported fraudulent websites and WhatsApp accounts impersonating PT. Mahadana Asta Berjangka, offering guaranteed profits, which is illegal under Indonesian law. Official announcements (2021 and 2022) warn clients to stick to the official website and verified contacts.
Similar Names:
There’s no evidence of intentional brand confusion with other brokers, but the name “Mahadana” is generic enough to be mimicked. Users must ensure they’re dealing with PT. Mahadana Asta Berjangka (not, e.g., “Mahadana Forex” or similar).
Analysis:
The proactive warnings about impersonation are a positive step, but the persistence of scams suggests ongoing risks.
Users must exercise diligence to avoid falling for fraudulent schemes using the Mahadana name.
Risk Level: Moderate. The broker is addressing impersonation, but the risk of scams remains.

12. Overall Risk Assessment ¶

Strengths:
Regulated by BAPPEBTI with memberships in BBJ, KBI, and APBI, ensuring compliance with Indonesian laws.
Long operational history (since 2004/2005) and professional website with clear risk disclosures.
Segregated accounts and same-day withdrawal options enhance client trust.
Proactive warnings about impersonation scams demonstrate transparency.
Weaknesses:
A single fraud allegation raises concerns about transparency or fund management.
Limited social media presence and international visibility may hinder scrutiny.
Persistent impersonation scams pose risks for unsuspecting clients.
High-risk nature of futures trading requires significant investor caution.
Overall Risk Level: Moderate. PT. Mahadana Asta Berjangka appears to be a legitimate, regulated broker with some operational strengths, but the fraud allegation, impersonation risks, and inherent trading risks warrant careful due diligence.

13. Recommendations ¶

For Potential Clients:
Conduct thorough research, including reviews on Indonesian platforms and direct inquiries with BAPPEBTI.
Start with a demo account to evaluate the platform and services.
Engage only through official channels and verify all communications.
Be prepared for the high risks of futures trading and ensure financial readiness.
For Current Clients:
Monitor account activity closely and report any discrepancies to BAPPEBTI’s complaint portal.
Stay updated on the broker’s warnings about impersonation scams.
For Regulators/Industry Observers:
Investigate the fraud allegation to assess its validity and impact.
Enhance public awareness of impersonation scams targeting regulated brokers.

14. Sources ¶

The analysis is based on the provided search results and general knowledge of brokerage analysis. Key citations include: -: Mahadana Asta Berjangka official website -: Lusha profile -: Mahadana “About Us” page -: Mahadana “Contact Us” page -: Seputarforex review -: LinkedIn profiles -: Facebook page -: Mahadana scam warnings -: Indeed fraud allegation -: Mahadana trading information -: MoneyDuck profile Additional data (e.g., WHOIS, hosting) is inferred from standard practices due to limited direct access. Users are encouraged to verify details using tools like WHOIS.domaintools.com, SecurityTrails, or BAPPEBTI’s official website.

This analysis provides a balanced view of PT. Mahadana Asta Berjangka, acknowledging its regulatory legitimacy while highlighting areas of concern. Users should approach with caution, perform independent research, and prioritize risk management.

AI risk analysis - Mahadana (2025-04-29 17:35:44)