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
101GO Markets Investor protectionBonusVolume Rebate Program by GO MarketsGreat Customer ServiceMin deposit $0Max leverage 1:500Regulated by FSC, ASIC, CySEC +2Add to compare listRating 4.1 / 5Start trading
Pros, cons & fees
24/6 Multilingual SupportAffiliate ProgramTier-1 RegulationsRead review
Pros

  • Highly Regulated Broker: GO Markets is licensed by ASIC (Australia), CySEC (Cyprus), FSC (Mauritius), and FSA (Seychelles).

  • Extensive Range of Tradable Assets: The broker offers 600+ instruments, such as forex, indices, commodities, metals, cryptocurrencies, and CFDs on global stocks.

  • Multiple Trading Platforms: Unlike most brokers who merely support MT4 or MT5, GO Markets provides cTrader, TradingView, and WebTrader as well.

Cons

  • No Fixed-Spread Accounts: All accounts are variable spread, which might not suit traders who prefer the stability of fixed spreads.

  • Regional Restrictions: Clients from certain countries, including the US and Canada, cannot open accounts due to regulatory limitations.

  • No Islamic or Swap-Free Accounts: Go Markets does not offer Islamic or Swap-Free accounts unlike many popular brokerages.

102IUX Investor protectionBest For High Volume TradingMin deposit $50Max leverage 1:3000Regulated by ASIC, FSCA, FSCAdd to compare listRating 4.1 / 5Start trading
Pros, cons & fees
Specialized trading accountsRead review
Pros

  • Multi-Regulated Broker: IUX is regulated by ASIC (Australia), FSCA (South Africa), and FSC (Mauritius). The multi-regulated setup allows flexible trading conditions and security features.

  • Ultra-Low Trading Costs and High Leverage Options: Spreads starting from 0.0 pips on Raw accounts with competitive $7 per lot commission. Standard accounts offer commission-free trading with spreads from 0.2 pips. The company offers 1:3000 leverage across all account types, providing significant trading flexibility for experienced traders.

  • Very Low Barrier to Entry: Traders can start trading with as little as $10, making the company one of the most accessible brokers for beginners and traders with limited capital.

Cons

  • Limited Geographic Availability: The broker does not operate in the US, UK, EU, Canada, Australia, Japan, and several other restricted countries.

  • No MetaTrader 4 Support: Only MT5 is available for those who prefer MetaTrader platforms, which may disappoint traders accustomed to MT4.

Withdrawal fee $0Deposit fee $0
103Solus FinanceBonusRefer a Friend & Earn with SolusFinance24/7 Trading CompetitionsRegulated by NoAdd to compare listRating 4.1 / 5Start trading
Pros, cons & fees
24/7 Trading CompetitionsRead review
Pros

  • Gamified Trading: Solus gamifies the complex trading experience which is great for new traders with limited complex trading knowledge.

  • Proprietary Mobile App (Android): The company has a proprietary mobile trading app available on PlayStore.

  • Multiple Online Payment Options: Traders (or players) can fund their accounts via Crypto, PayPal, Volet, and Cryptic.

Cons

  • Unclear Regulatory Framework: ITU Financial Services Inc. is registered in Delaware, US but not as a financial services provider. According to the company, they do not identify as a brokerage and therefore do not need to be regulated.

  • No Visa or Mastercard Payment Options: The company does not accept Visa or Mastercard payment options.

  • No iOS App: Solus lacks an iOS mobile app. Currently, the app is only available for Android devices and all mobile devices through mobile web.

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.