Risk Warning: Your capital is at risk. Statistically, 74-89% of customers lose their investment. Invest in capital that is willing to expose such risks.

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.

Order by
1Exness trustedBest Range Of Trading InstrumentsMin deposit $10Max leverage 1:2000Regulated by FCA, CySEC, AMFAdd to compare listRating 4.9 / 5Start trading
Pros, cons & fees
Specialized trading accounts24/7 instant money withdrawalFree VPS hostingRead review
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 $0Deposit fee $0
2NordFX trustedBonusNETELLER Promotion by NordFXAutomated Crypto WithdrawalsMin deposit $10Max leverage 1:1000Regulated by FSA, FSCAdd to compare listRating 4.8 / 5Start trading
Pros, cons & fees
MT4 & MT5 PlatformsUp to 1:1000 LeverageFrom $10 Minimum DepositTrading Since 2008Read review
Pros

  • Regulated by multiple authorities

  • Offers a wide range of assets, including cryptocurrencies, stocks, indexes, metals and oil

  • Multiple trading platforms are available, including MetaTrader 4, MetaTrader 5 and MetaTrader 5 web

Cons

  • Limited educational resources for beginners

  • Limited research tools

  • Limited customer support options compared to some other brokers

Withdrawal fee $0Deposit fee $0
3OneRoyal trusted Investor protectionBonus100% deposit bonus2,000+ Tradable AssetsMin deposit $5Max leverage 1:1000Regulated by ASIC, CySEC, VFSCAdd to compare listRating 4.8 / 5Start trading
Pros, cons & fees
Copy and Social TradingVery Low Minimum DepositMulti Tier-1 Regulated BrokerRead review
Pros

  • Very Low Minimum Deposit: Traders can get started with a deposit of $5.

  • Negative Balance Protection: Traders cannot lose more funds than they have in their accounts with negative balance protection

  • Extensive Tradable Instruments: Over 2,000 tradable instruments across forex, metals, oil, indices, shares, ETFs, and crypto.

Cons

  • Promotions Not Universally Available: Some promotions are only available in selected regions.

  • Neteller Payment Delays: Neteller withdrawals are subject to a 7-business-day waiting period after a deposit.

  • Separate Site for EU Natives: EU residents are redirected to a separate, EU-regulated platform.

Withdrawal fee $0Deposit fee $0
4XM trustedBonus$50 no-deposit bonusBest For Low Trading CostsMin deposit $5Max leverage 1:1000Regulated by FSC, CySEC, FSCA +2Add to compare listRating 4.8 / 5Start trading
Pros, cons & fees
Specialized trading accountsFree VPS hosting24/7 instant money withdrawalRead review
Pros

  • Multi-Regulated Broker: XM has multiple regulations including CySEC (Cyprus), FSC (Belize and Mauritius), FSA (Seychelles), and DFSA (Dubai).

  • Variety of Bonuses: The broker offers an extensive range of bonuses including welcome, no-deposit, and seasonal offers that can boost capital and allow profit withdrawal.

  • Consistent High Leverage and Low Spreads: The company offers consistently low spreads and a high leverage even during volatile market conditions.

Cons

  • Not Available in the US: XM does not accept clients from the US. For traders based in restricted regions, it is best to look for other options.

  • Offerings May Differ Based on Location: Payment methods, trading strategies, and bonuses may vary depending on your location.

  • Inactivity Fees: XM charges a dormant fee when your account stays dormant for consecutive 90 days. You are charged an inactivity fee of $10 per month.

Withdrawal fee $0Deposit fee $0
5RoboForex trusted Investor protectionBonus30 USD no-deposit bonusBest For Reliable TradingMin deposit $10Max leverage 1:2000Regulated by FSCAdd to compare listRating 4.8 / 5Start trading
Pros, cons & fees
Free VPS hosting24/7 instant money withdrawalSpecialized trading accountsRead review
Pros

  • Extensive Range of Tradable Instruments

  • Competitive Trading Conditions & Accounts

  • Versatile Trading Platforms

Cons

  • Regulated by an Offshore Regulator

  • Limited Demo Account

Withdrawal fee 1%Deposit fee $0
6BlackBull Markets trustedBonusUp to $250 refer-a-friend reward26,000+ Tradable AssetsMin deposit $0Max leverage 1:500Regulated by FMA, FSAAdd to compare listRating 4.8 / 5Start trading
Pros, cons & fees
Auto TradingCopy TradingMultiregulated BrokerRead review
Pros

  • 26,000+ Tradable Assets: BlackBull Markets provides access to more than 26,000 tradable instruments across 5 different asset classes.

  • Multiple Trading Platforms: Traders can use MetaTrader 4, MetaTrader 5, TradingView, cTrader, and MetaTrader WebTrader. The broker also offers proprietary BlackBull Invest and BlackBull CopyTrader platforms.

  • Extensive Variety of Tools and Third-Party Services: BlackBull offers access to VPS, ZuluTrade, Myfxbook, an Economic Calendar, and Trading Calculator.

Cons

  • Flat Administrative Fee on Swap-Free Islamic Accounts: BlackBull Markets charges a flat administrative fee on swap-free trading accounts.

  • $5 Withdrawal Fee: On every withdrawal, a withdrawal fee of $5 is applied to a trader’s account.

Withdrawal fee $5Deposit fee $0
7VT Markets trusted Investor protectionBonus50% welcome bonusDoubly Insured AccountsMin deposit $50Max leverage 1:1000Regulated by FSCA, SCA, FSCAdd to compare listRating 4.7 / 5Start trading
Pros, cons & fees
Specialized trading accountsRead review
Pros

  • Trading Accounts for Different Types of Traders: VT Markets offers STP, ECN, Cent, and Swap Free trading accounts. The company also offers a demo account for 90 days.

  • Multi Regulated Brokerage: VT Markets has multiple reputable regulations from South Africa, Dubai, and Mauritius.

  • Investor Protection and Trader Insurance: The company is a part of The Financial Commission and Compensation Fund and has Lloyd’s Insurance with coverage of over €20,000 and $1M respectively for client funds.

Cons

  • No Phone Support: VT Markets does not offer phone support.

Withdrawal fee $0Deposit fee $0
8FxPro trustedBonusFxPro Sign-Up BonusBest For Algo TradingMin deposit $100Max leverage 1:10000Regulated by FCA, CySEC, CNMVAdd to compare listRating 4.7 / 5Start trading
Pros, cons & fees
24/7 instant money withdrawalSpecialized trading accountsFree VPS hostingHigh leverageRead review
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 $0Deposit fee $0
9Libertex trusted Investor protectionBonusWelcome Bonus Program by LibertexVery low commissionsMin deposit €100Max leverage 1:600 Regulated by FSA (SV)Add to compare listRating 4.7 / 5Start trading
Pros, cons & fees
Specialized trading accounts24/7 instant money withdrawalProprietary platformMobile tradingRead review
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 $0Deposit fee $0
10Alpari trustedBonusWelcome Bonus Offer by AlpariBest MT5 BrokerMin deposit $5Max leverage 1:1000Regulated by FSC, FSA (SV)Add to compare listRating 4.7 / 5Start trading
Pros, cons & fees
Specialized trading accountsFree VPS hosting24/7 instant money withdrawalRead review
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 $0Deposit fee $0

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Our ranking methodology and selection process

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.