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Home » Forex Brokers » By Country » Indonesia

Best Forex Brokers in Indonesia

Many popular international and local brokers are offering their services to Indonesian traders. To help you trade with the best, we have compared brokers in different areas like trading options, regulations, fees, added benefits, and reviews from existing customers. The following are our best picks.

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Exness
trusted
Not available in
Country Flag
1
Exness
52 customer reviews
Rating
4.9
/ 5
Expand
  • Specialized trading accounts
  • 24/7 instant money withdrawal
  • Free VPS hosting
Pros

  • Competitive Trading Conditions

  • Wide Range of Tradable Instruments

  • Advanced Trading Platforms

Cons

  • Limited Regulatory Oversight for Some Entities

  • Limited Educational Resources for Beginners

  • Mixed User Reviews

  • Withdrawal fee$0
  • Deposit fee$0
  • Max Leverage1:2000
Start trading
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RoboForex
trusted
Not available in
Country Flag
2
RoboForex
102 customer reviews
Rating
4.9
/ 5
Expand
  • Free VPS hosting
  • 24/7 instant money withdrawal
  • Specialized trading accounts
Pros

  • Extensive Range of Tradable Instruments

  • Competitive Trading Conditions & Accounts

  • Versatile Trading Platforms

Cons

  • Regulated by an Offshore Regulator

  • Limited Demo Account

  • Withdrawal fee1%
  • Deposit fee$0
  • Max Leverage1:2000
Start trading
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Neomarkets
trusted
Not available in
Country Flag
3
Neomarkets
1 customer reviews
Rating
4.8
/ 5
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  • 24/7 instant money withdrawal
  • Affiliate Program
Pros

  • NeoMarkets is praised for its user-friendly approach, making it accessible and straightforward for novice and experienced traders to navigate the platform.

  • NeoMarkets allows trading cryptocurrencies through CFDs at competitive costs, providing traders with exposure to this popular asset class.

  • NeoMarkets is regulated by the Financial Services Commission (FSC) in Mauritius, adding an element of oversight and security for its clients.

Cons

  • NeoMarkets has a limited selection of deposit and withdrawal methods, potentially inconveniencing clients who prefer a broader range of options.

  • To access the demo account, users must first complete the registration process, which might deter those who prefer exploring the platform before committing.

  • NeoMarkets’ website lacks readily available information about its various account types, potentially making it challenging for traders to select the most suitable option.

  • Withdrawal fee$0 (conditions apply)
  • Deposit fee$0
  • Max Leverage1:500
Start trading
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FxPro
trusted
Not available in
Country Flag
4
FxPro
206 customer reviews
Rating
4.7
/ 5
Expand
  • 24/7 instant money withdrawal
  • Specialized trading accounts
  • Free VPS hosting
  • High leverage
Pros

  • Regulated by Multiple Tier-1 Authorities

  • Competitive Trading Conditions

  • Wide Range of Trading Platforms

Cons

  • Higher Commissions on Certain Platforms

  • Limited Educational Resources Compared to Other Brokers

  • Not Available Worldwide

  • Withdrawal fee$0
  • Deposit fee$0
  • Max Leverage1:10000
Start trading
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Libertex
trusted
Not available in
Country Flag
5
Libertex
0 customer reviews
Rating
4.7
/ 5
Expand
  • Specialized trading accounts
  • 24/7 instant money withdrawal
  • Proprietary platform
  • Mobile trading
Pros

  • Lack of Investor Protection Features: Libertex offers much higher leverage than most brokers. Retail traders can enjoy leverage up to 1:999 on CFD trades, enabling traders to control much bigger positions for their investments.

  • Extensive Range of Tradable Instruments and Stocks: Libertex provides access to 250+ CFDs across forex, commodities, indices, metals, energies, cryptocurrencies, ETFs, and bonds. Uniquely, the broker also allows investing in real stocks with over 300 stocks.

  • Major and Proprietary Trading Platforms: You can access popular trading platforms like MT4 and MT5. In addition, you can also trade with the company’s proprietary trading platform.

Cons

  • Offshore Regulatory Status: Libertex.org is not regulated by top-tier authorities like CySEC or FCA. Instead, it operates under offshore jurisdictions (St. Vincent & the Grenadines and Mauritius).

  • Lack of Investor Protection Features: Being offshore regulated, Libertex does not offer security features like investor protection schemes that brokers with a tier-1 regulation offer. 

  • No Islamic (Swap-Free) Accounts: The broker does not offer Islamic accounts for interest-free trading. All accounts incur overnight swap charges on CFD positions.

  • Withdrawal fee$0
  • Deposit fee$0
  • Max Leverage1:600
Start trading
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Alpari
trusted
Not available in
Country Flag
6
Alpari
12 customer reviews
Rating
4.7
/ 5
Expand
  • Specialized trading accounts
  • Free VPS hosting
  • 24/7 instant money withdrawal
Pros

  • Competitive Spreads

  • Comprehensive Educational Resources

  • Robust Customer Support

Cons

  • Limited Deposit and Withdrawal Options

  • Occasional Platform Glitches

  • Limited Regulatory Oversight in Certain Regions

  • Withdrawal fee$0
  • Deposit fee$0
  • Max Leverage1:1000
Start trading
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XM
Not available in
Country Flag
7
XM
34 customer reviews
Rating
4.7
/ 5
Expand
  • Specialized trading accounts
  • Free VPS hosting
  • 24/7 instant money withdrawal
Pros

  • Regulated by Top-tier Authorities

  • Low Spreads and Commissions

  • Popular Trading Platforms

Cons

  • Limited Asset Coverage

  • Platform Selection Limited

  • Withdrawal fee$0
  • Deposit fee$0
  • Max Leverage1:888
Start trading
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IC Markets
Not available in
Country Flag
8
IC Markets
18 customer reviews
Rating
4.6
/ 5
Expand
  • Specialized trading accounts
  • Tight Spreads
  • Low commissions
Pros

  • Provides trading aids and resources such as risk depth, spread monitoring, and risk calculator.

  • Offers low average spreads and competitive pricing for all account types.

  • Provides plugins for third-party research and trading tools.

Cons

  • Limited product offerings.

  • No investor protection for traders outside the European Union.

  • No weekend trading, extra bonuses or promos.

  • Withdrawal fee$0
  • Deposit fee$0
  • Max Leverage1:500
Start trading
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Forex.com
trusted
Available in
Country Flag
9
Forex.com
20 customer reviews
Rating
4.6
/ 5
Expand
  • Specialized trading accounts
  • 24/7 instant money withdrawal
Pros

  • Top-Tier Regulation

  • Low Forex Fees

  • No Withdrawal Fees

Cons

  • High Stock CFD Fees

  • Limited Product Portfolio

  • User Interface Could Be More Intuitive

  • Withdrawal fee$0
  • Deposit fee$0
  • Max Leverage1:50
Start trading
76-77% of retail investor accounts lose money when trading CFDs with this provider.
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HYCM
Not available in
Country Flag
10
HYCM
173 customer reviews
Rating
4.6
/ 5
Expand
  • 24/7 instant money withdrawal
Pros

  • Unlimited demo account: Both new and experienced traders can access the different HYCM demo accounts across the broker’s platform for as long as they like. This will help new players become better skilled and experienced players more familiar with the various trading environments on the platform.

  • Supports multiple languages: Another HYCM bonus is its earned regulatory approval in 140 countries. This strongly indicates the broker’s versatility. Depending on the traders’ nationality, anyone can enjoy full access to the trading platform in their preferred language.

  • Long-standing reputation: With over 40 years in the financial industry, HYMC stands tall as an industry leader that has stood the test of time. Its financial services have also improved over the years to increase the platform’s functionality and create an enjoyable trading experience.

Cons

  • Customer support is unavailable during weekends: Since the broker offers financial services for some trading instruments that operate 24/7, customer support must be available round the clock. However, HYMC’s customer support services across all platforms are only available on weekdays. This means traders have to wait till weekdays to access customer support if the need arises on weekends.

  • Withdrawal feeNo
  • Deposit feeNo
  • Max Leverage1:400
Start trading
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Our ranking methodology and selection process

Is Forex Trading Legal in Indonesia?

Yes, forex trading is legal in Indonesia and is gaining popularity. However, the regulatory framework is quite intricate as the brokers locally regulated have to follow very strict conditions compared to international ones. Local regulatory bodies prevent fraud but also limit payment options to local bank transfers and limit leverage. Consequently, local Indonesian brokers have higher fees and it is more convenient to trade with international brokers for traders. Therefore, many traders opt for reputed international brokers instead.

What Forex Trading Platforms are Regulated in Indonesia?

Indonesia’s forex regulatory bodies are OJK (Otoritas Jasa Keuangan) and BAPPEBTI (Badan Pengawas Perdagangan Berjangka Komoditi) but these are not considered top tier regulators. Therefore, choosing international brokers with top tier regulators can be better alternatives. Some great brokers available in Indonesia are XM, Axi, and IC Markets among others. To only see regulated brokers, you can use the regulated filter on this page.

How to Start Forex Trading in Indonesia?

Trading is both challenging and risky especially for inexperienced traders. As you can see on our risk warnings, most traders lose money while trading. In order to increase your chances of success at making profits, it is important to understand the basics of trading. To start trading in Indonesia, you can take the following steps:

  1. Learn the basics of forex trading. You can start with exploring resources on our Forex Basics and Forex for Beginners blog categories. There are offline and online resources you can use.
  2. Find a suitable broker from this listing (all brokers in this listing accept traders from Indonesia).
  3. Create a demo account. A demo account can be a great tool to test your strategies with no financial losses. 
  4. Start with small investments on actual trading and then eventually scale.