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
81TradeNation (ex. Core Spreads)BonusMonthly Spread Rebate by Trade NationFixed Spreads AvailableMin deposit $0Max leverage 1:200Regulated by FCA, ASIC, FSCA +2Add to compare listRating 3.9 / 5Start trading
Pros, cons & fees
Affiliate ProgramFixed Spreads AvailableRead review
Pros

  • Competitive, low-cost spreads

  • User-friendly platforms

  • Wide range of markets

Cons

  • Limited advanced trading tools

  • Fewer account types

  • Stock CFDs only, no direct stock trading

Withdrawal fee $0Deposit fee $0
82Capital Index Investor protection180+ Tradable InstrumentsMin deposit $100Max leverage 1:200Regulated by FCA, SCBAdd to compare listRating 3.9 / 5Start trading
Pros, cons & fees
Top Tier Regulations180+ Tradable InstrumentsRead review
Pros

  • Top tier regulators like CySEC, FSCS, and FCA

  • Variety of trading accounts with different spreads and leverage options

  • Diverse range of assets.

Cons

  • Only available to the UK residents.

  • Inactivity fees apply to dormant accounts

  • Higher spreads on standard accounts

Withdrawal fee $0Deposit fee $0
83AetosRegulated by FCA and ASICMin deposit $250Max leverage 1:200Regulated by ASIC, FCAAdd to compare listRating 3.9 / 5Start trading
Pros, cons & fees
BonusesCommission Free TradingAffiliate ProgramRead review
Pros

  • Strong regulatory compliance

  • Competitive trading conditions

  • Robust educational resources

Cons

  • Limited offerings for cryptocurrency

  • Higher-than-average minimum deposits on some accounts

  • Lack of MetaTrader 5 platform

Withdrawal fee No FeesDeposit fee No Fees
84INGOT Brokers1:500 Max LeverageMin deposit $100Max leverage 1:500Regulated by ASIC, FSA, JSC +1Add to compare listRating 3.8 / 5Start trading
Pros, cons & fees
Wide variety of account typesSafe and secureRead review
Pros

  • Wide selection of market instruments, including agriculture, energies, metals, stocks, indices, ETFs, currencies, and cryptocurrencies

  • Well-regulated by reputable authorities, ensuring transparency and adherence to industry standards

  • Segregation of clients' funds in top-tier banks, enhancing the safety and security of client funds. In addition, Ingot offers negative balance protection, safeguarding traders from potential losses exceeding their account balance.

Cons

  • Not available in certain countries such as the United States of America due to restricted jurisdictions, limiting access for traders in specific regions.

  • The demo account expires in two weeks, which may be insufficient for traders to thoroughly test the platform and strategies.

  • International trading is done through an offshore entity, which might raise concerns about regulatory differences and protections.

Withdrawal fee $0Deposit fee $0
85Colmex ProWide Range Of Payment OptionsMin deposit $500Max leverage 1:400Regulated by CySECAdd to compare listRating 3.8 / 5Start trading
Pros, cons & fees
Wide range of payment optionsRead review
Pros

  • Colmex Pro provides traders with competitive leverage up to 1:30 for forex instruments and up to 1:20 for professional clients trading stocks.

  • The Broker is regulated by the Cyprus Securities and Exchange Commission (CySEC), which ensures that the company follows strict financial and ethical guidelines.

  • Traders can fund their accounts using various methods such as credit/debit cards, bank transfers, and online payment methods like PayPal. Withdrawals can also be made via Visa, MasterCard, or PayPal.

Cons

  • Colmex Pro lacks educational resources such as webinars, trading guides, and other materials to help traders improve their skills.

  • Customer support is only available during weekdays and not 24/7, which could be inconvenient for traders in different time zones.

  • While the first transaction of the month under or equal to $500 is free, any following withdrawals are charged a fee of $40 (or €30 for Euro accounts), which may be high compared to other brokerage firms.

Withdrawal fee $25Deposit fee $0
86FXPRIMUSBonusWelcome Gift (Cash Reward) by FXPrimusBest For MT4 BrokerRegulated by CySEC, VFSCAdd to compare listRating 3.8 / 5Start trading
Pros, cons & fees
Free VPS hostingSpecialized trading accounts24/7 instant money withdrawalRead review
Pros

  • A wide range of trading assets: FXPRIMUS provides 120 trading assets, including currency pairings, precious metals, petroleum products, indices, CFDs, and cryptocurrencies.

  • Strong security network: FXPrimus employs specialized software and advanced encryption technologies with 128-bit keys.

  • High Insurance Coverage: FXPrimus covers each client's fund for up to 5 million euros. Hence, clients can rest assured that their money is safe.

Cons

  • Limited Availability: FXPRIMUS broker's client support service is only available 24 hours a day, five days a week, limiting its customer support services to only weekdays.

  • Selective Compensation Claims: FXPRIMUS does not recognize any moral compensation claims. Hence, traders will not be compensated for any such claims.

  • System Malfunction: Although this rarely happens, there are technical hitches that may necessitate a full platform restart.

87AMP Global Investor protectionUp To €20,000 Investor ProtectionMin deposit $100Max leverage 1:500Regulated by CySECAdd to compare listRating 3.8 / 5Start trading
Pros, cons & fees
Wide variety of trading instrumentsRead review
Pros

  • AMP Global offers diverse tradable instruments, including forex, exchange-traded futures, metals, energies, indices, stocks, and crypto CFDs. This allows traders to diversify their portfolios and exploit various market opportunities.

  • Including the Investor Compensation Fund is a notable advantage for clients trading under the CySEC-regulated entity. This fund offers insurance per client up to 20,000 EUR, providing additional protection for client funds.

  • AMP Global offers various account funding methods, including bank wire transfers, credit/debit cards, and e-wallet services. This provides flexibility and convenience for clients when depositing and withdrawing funds.

Cons

  • The registration requirements to open a new AMP Global live account may be considered complex, involving multiple steps and providing various declarations. This might be a drawback for traders seeking a more straightforward account opening process.

  • Traders do not have the liberty to pick which trading platform they wish to use since AMP GLOBAL only offers the MT5 trading platform. This means there is no proprietary platform, the MT4 or the cTrader platforms.

  • AMP GLOBAL forex brokerage offers only one account type for all its clients. This effectively means users have no choice of picking account types that suit their trading needs.

Withdrawal fee $0Deposit fee $0
88Octa FXBonusDeposit Bonus for Referred Users by OctaFx1:1000 Max LeverageMin deposit $10Max leverage 1:1000Regulated by CySEC, FSCA, MISAAdd to compare listRating 3.8 / 5Start trading
Pros, cons & fees
Social tradingAuto tradingSwap-free accountsRead review
Pros

  • Competitive Spreads and No Commissions

  • High Leverage Options

  • Fast Withdrawal Processing

Cons

  • Limited Range of Tradable Instruments

  • Not Regulated in Top-Tier Jurisdictions

  • Limited Educational Resources

Withdrawal fee $0Deposit fee $0
89FXDDBonusNo Deposit Trading Bonus by FXDDNegative Balance ProtectionMin deposit $250Max leverage 1:50Regulated by MFSAAdd to compare listRating 3.7 / 5Start trading
Pros, cons & fees
Wide range of trading platformsMultilingual supportNegative balance protectionRead review
Pros

  • Wide range of trading platforms including MetaTrader 4 (MT4), MetaTrader 5 (MT5), and WebTrader.

  • Flexible and beginner friendly account types.

  • Negative balance protection.

Cons

  • Minimum deposits with FXDD can be quite higher than other brokers.

  • Accounts dormant for a long time may be charged inactivity fees.

  • No U.S clients.

Withdrawal fee $0Deposit fee $0
90FXNovus24/7 Customer SupportMin deposit $250Max leverage 400Regulated by FSC (BVI)Add to compare listRating 3.7 / 5Start trading
Pros, cons & fees
24/7 Customer SupportVariety of Trading InstrumentsAffiliate ProgramSpecialized trading accountsRead review
Pros

  • Regulated by the Financial Sector Conduct Authority (FSCA) in South Africa, ensuring compliance with industry standards.

  • Offers multiple channels for contacting support, enhancing accessibility and responsiveness.

  • Provides round-the-clock customer support, accommodating traders across different time zones.

Cons

  • There is an absence of MT4 or MT5 platforms, which need to include features and functionalities preferred by many traders.

  • Offers a less extensive list of tradable assets than some competitors, limiting investment opportunities.

  • Withdrawal times can be lengthy, potentially causing inconvenience for traders requiring prompt access to funds.

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.