Is Pluang a Registered Member of IDX (BEI), KSEI, and KPEI?
Pluang is a registered participant in Indonesia's capital market infrastructure, but not a direct IDX (BEI) exchange member itself — it operates as a Level II Securities Brokerage Marketing Partner through two licensed entities, PT Pluang Maju Sekuritas (OJK Licence KEP-196/PM/1992) and PT Sarana Santosa Sejati (OJK Licence 4/PM.02/STTD/MPPPE/2024), which partner with registered IDX member brokers to route your orders to the exchange. Every share you buy is registered in your own name at KSEI (Kustodian Sentral Efek Indonesia), Indonesia's central securities depository, and every transaction is cleared and guaranteed by KPEI (Kliring Penjaminan Efek Indonesia), the clearing house that settles trades across the entire IDX market — not just Pluang's. Together, this three-part structure (marketing partner + KSEI custody + KPEI clearing) is the same regulatory chain every licensed Indonesian broker operates within, all supervised by OJK.
- IDX (BEI): Pluang accesses the exchange through licensed IDX member broker partners, rather than holding a direct exchange seat itself
- KSEI: Every share you buy is registered in a sub-account at KSEI in your own name, under your unique SID (Single Investor Identification)
- KPEI: All stock transactions on Pluang are cleared and guaranteed by KPEI, meaning counterparty risk on any single trade is absorbed by the clearing house, not by Pluang or the other trader
- This structure ensures Pluang operates within Indonesia's regulated capital market framework, the same framework every other licensed Indonesian securities broker uses
- Neither PT Pluang Maju Sekuritas nor PT Sarana Santosa Sejati physically holds your shares — legal custody sits with KSEI at all times
Related questions:
Q: Are my shares actually registered at KSEI?
Yes. Every share purchased through Pluang is recorded in your own KSEI sub-account under your personal SID (Single Investor Identification) number — not under Pluang's name or account. You can verify this independently at any time via AKSes KSEI (akses.ksei.co.id), Indonesia's official investor portal, without needing to go through Pluang at all. This is the same custody arrangement used by every licensed Indonesian securities broker.
Q: What does KPEI do for my Pluang stock transactions?
KPEI guarantees settlement of every transaction placed through Pluang — if a counterparty on the other side of your trade fails to deliver shares or funds, KPEI steps in and fulfils the obligation on their behalf. This clearing guarantee exists across the entire IDX market, not specifically for Pluang, and is one of the core protections that makes retail stock trading in Indonesia viable at scale.
Q: How can I verify Pluang is a legitimate platform?
Check the OJK website (ojk.go.id) for the official list of licensed securities marketing partners, and search for PT Pluang Maju Sekuritas (Licence KEP-196/PM/1992) or PT Sarana Santosa Sejati (Licence 4/PM.02/STTD/MPPPE/2024). Both entities appear on OJK's public registry, which is the same verification step you'd take for any other Indonesian brokerage before trusting it with your investments.
Q: Is Pluang an IDX member broker itself?
No — Pluang operates as a Level II Securities Brokerage Marketing Partner, a distinct OJK licence category from being a direct IDX member. In practice, this means Pluang partners with a registered IDX member broker to route and execute your orders on the exchange, while still maintaining full regulatory accountability to OJK for how it markets and services Indonesian stock trading to you.
Q: What happens to my shares if PT Pluang Maju Sekuritas ceases operating?
Your shares stay exactly where they've always been — recorded at KSEI under your own SID, completely independent of Pluang's operational status. Since KSEI (not Pluang) holds legal custody, you would simply need to transfer your KSEI sub-account relationship to another licensed broker to continue trading, rather than risk losing the shares themselves.