10 Best Forex Brokers in Indonesia
The 10 Best Forex Brokers in Indonesia – Ideal or Illusion, Revealed! We have explored and tested several BAPPEBTI authorised, OJK-approved, and Bank of Indonesia recognized Forex Brokers offering IDR (Rp) trading options for Indonesian Traders.
10 Best Forex Brokers in Indonesia (2025)
- Interactive Brokers – Overall, The Best Forex Broker in Indonesia.
- AvaTrade – User-friendly platforms including AvaTradeGO and MetaTrader.
- Octa – Popular in Indonesia (Asia) with strong local marketing and regional sponsorships.
- OANDA – Competitive spreads and no minimum deposit.
- Pepperstone – ASIC/FCA regulated – gives Indonesian traders confidence
- FP Markets – Provides local payment solutions and support for Indonesian clients.
- IC Markets – Multilingual support, including support in Indonesia (Southeast Asia).
- XM – Swap-free Islamic accounts, suitable for Indonesian Muslims.
- Tickmill – Simple account types and clear fee structure.
- CMC Markets – Award-winning proprietary platform with advanced charting.
Top 10 Forex Brokers (Globally)*
1. Interactive Brokers
While Interactive Brokers isn’t locally regulated by OJK (Otoritas Jasa Keuangan) in Indonesia, residents can legally open accounts through its trusted global entities, usually via the Singapore or Hong Kong branches.
This gives Indonesian traders access to a wide range of international markets and professional trading tools.
| Broker | Interactive Brokers |
| Accepts Traders in Indonesia | Yes |
| Regulation Number in Indonesia | Not regulated by Indonesia's OJK |
| Local Offices in Indonesia | None |
| Can You Trade with Local Currency (IDR)? | None |
| Is There Local Support in Indonesia? | Yes |
| Indonesian-Based Account | Yes |
| Minimum Deposit in IDR | 0 IDR |
| Leverage | Variable |
| Bonuses | None |
| Fund Withdrawal Fee | Yes |
| Spreads from | 0.1 pip |
| Commissions | Yes |
| Investor Protection Schemes | Yes |
| Negative Balance Protection | Yes |
| Read Review |  |
| Open Account |  |
Frequently Asked Questions
Is Interactive Brokers safe?
Many investors consider Interactive Brokers (IBKR) one of the safest and most reputable brokers globally. Top-tier authorities like the SEC, FCA, MAS, and ASIC regulate it. IBKR also offers SIPC protection in the US.
Which platforms does IBKR offer?
Interactive Brokers (IBKR) offers a comprehensive suite of platforms, including their flagship Trader Workstation (TWS) for advanced traders, IBKR Desktop for a streamlined experience, IBKR Mobile and IBKR GlobalTrader for on-the-go trading, and Client Portal for web-based account management.
Pros and Cons
| ✓ Pros | ✕ Cons |
| Extremely Low Fees | Complex for Beginners |
| Access to Global Markets | Not IDR-Compatible |
| Advanced Trading Platforms | Withdrawal Fees |
| Strong Regulatory Oversight | No Islamic (Swap-Free) Account |
| Investor Protection Schemes | No Local Support in Some Countries |
Our Insights
Interactive Brokers (IBKR) is a top-tier, cost-efficient global broker, ideal for experienced traders and investors. It excels in offering extensive market access, low fees, and advanced tools, distinguishing itself with a vast product range and professional-grade platforms.
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐⭐ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐⭐ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐☆ |
| 4 | Research and Education | ⭐⭐⭐⭐☆ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐☆☆ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐⭐☆ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐☆☆ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐⭐ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐☆ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐⭐⭐ |
2. AvaTrade
AvaTrade provides a robust trading environment for both new and seasoned Indonesian traders, blending a wide array of instruments, competitive trading conditions, and strong regulatory oversight. Indonesian clients also benefit from Islamic accounts, local deposit options, and reliable customer support tailored to regional trading needs.
| Broker | AvaTrade |
| Accepts Traders in Indonesia | Yes |
| Regulation Number in Indonesia | Not regulated by Bappebti or OJK. |
| Local Offices in Indonesia | None |
| Can You Trade with Local Currency (IDR)? | None |
| Is There Local Support in Indonesia? | Yes |
| Indonesian-Based Account | Yes |
| Minimum Deposit in IDR | 1.6 Million IDR |
| Leverage | 1:400 |
| Bonuses | Yes |
| Fund Withdrawal Fee | None |
| Spreads from | 0.9 pips |
| Commissions | None |
| Investor Protection Schemes | None |
| Negative Balance Protection | Yes |
| Read Review | |
| Open Account | |
Frequently Asked Questions
What account types are available?
AvaTrade primarily offers a standard retail trading account, available with a minimum deposit of $100. They also provide Islamic (swap-free) accounts for Sharia-compliant trading and professional accounts for eligible, experienced traders who meet specific criteria.
Does AvaTrade offer leverage?
Yes, AvaTrade offers leverage, which varies depending on the regulatory entity serving your region and the asset traded. For example, for clients under their BVI-regulated entity, leverage can go up to 1:400 for forex majors.
Pros and Cons
| ✓ Pros | ✕ Cons |
| Regulated by multiple top-tier authorities | Not regulated locally in Indonesia |
| Multiple trading platforms | No local Indonesian offices or support |
| Negative balance protection | No IDR-denominated accounts |
| Commission-free trading | Occasional third-party withdrawal fees |
| Demo account | Leverage and bonuses vary |
Our Insights
AvaTrade accepts Indonesian traders via its international entities, offering a broad selection of instruments with competitive spreads and leverage, plus negative balance protection. However, it’s not locally regulated in Indonesia and doesn’t offer IDR accounts or local support, which might be a drawback for some.
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐☆ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐☆ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐☆ |
| 4 | Research and Education | ⭐⭐⭐⭐☆ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐⭐ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐⭐⭐ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐⭐☆ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐☆ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐⭐ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐⭐☆ |
3. Octa
Octa continues to raise the bar in 2025 with transparent, profit-focused trading conditions. Boasting zero commissions, spreads from 0.6 pips, and secure transactions, it appeals to traders seeking flexibility and cost efficiency. Backed by 12+ years in the market, Octa now proudly serves over 40 million active accounts worldwide.
Broker Octa
Minimum Deposit 25 USD
Fund Withdrawal Fee Varies by method
Spreads From 0.0 pips
Commissions Variable
Swap Fees Varies
Leverage Up to 1:500
Margin Requirements Varies
Account Segregation Yes
Negative Balance Protection Yes
Investor Protection Schemes Yes
Regulation 🇨🇾 CySEC
🇻🇺 MISA
🇿🇦 FSCA
🇲🇺 FSC
Open an Account 
Frequently Asked Questions
What makes Octa’s trading conditions stand out in 2025?
Octa offers one of the industry’s most transparent pricing models—no hidden fees, zero commissions, and 0% swaps. With fast order execution, spreads from 0.6 pips, and over 300 tradable assets, Octa is ideal for traders focused on efficiency and profit optimization.
Does Octa support beginner traders?
Yes. Octa supports beginners with a free Forex course, webinars, and real-time trading sessions via its YouTube channel. Its “Space” feature on the OctaTrader platform delivers curated market news and ideas, while its intuitive mobile app simplifies the learning curve for new traders.
Pros and Cons
| ✓ Pros | ✕ Cons |
| Octa has multi-currency support across deposit methods | There are withdrawal restrictions on the deposit bonus |
| Deposits with Octa do not incur internal fees | There are limited deposit methods compared to other brokers |
| There is an attractive 50% deposit bonus | There are geographic restrictions on deposit methods |
| Octa keeps all client funds in segregated accounts | Currency conversion fees might apply |
Our Insights
Octa blends powerful tools with simplicity—zero-commission trading, low spreads, and a tailored platform experience. Whether you’re a beginner or experienced trader, Octa’s combination of education, technology, and transparency creates a cost-effective and performance-driven environment for growth.
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐☆ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐☆ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐☆ |
| 4 | Research and Education | ⭐⭐⭐⭐☆ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐☆ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐⭐☆ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐⭐☆ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐☆ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐☆ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐☆☆ |
Top 3 Forex Brokers in Indonesia – Compared
| Broker |  |  |  |
| Regulators | 🇺🇸 SEC/CFTC/FINRA 🇺🇸 NYSE 🇺🇸 SIPC 🇬🇧 FCA 🇨🇦 CIRO | 🇮🇪 CBI 🇦🇺 ASIC 🇿🇦 FSCA 🇨🇾 CySEC 🇯🇵 FFAJ 🇻🇬 BVIFSC 🇦🇪 ADGM / FSRA 🇨🇦 CIRO 🇮🇱 ISA | 🇨🇾 CySEC 🇻🇺 MISA 🇿🇦 FSCA 🇲🇺 FSC |
| Minimum Deposit | 0 USD | 100 USD | Variable |
| Average Trading Cost EUR/USD | Average Spread: 0.1 Pips | Average Spread: 0.9 Pips | Average Spread: 0.0 pips |
| Commissions | Variable | None | Variable |
| Swap Fees | Yes | Yes | Yes |
| Islamic Account | None | Yes | Yes |
| Negative Balance Protection | Yes | Yes | Yes |
| Open an Account |  | | |
4. OANDA
OANDA is a well-regulated, trusted broker known for its solid technology, transparent pricing, and strong global reputation. While it accepts Indonesian traders, it doesn’t offer IDR-denominated accounts, Islamic swap-free options, or dedicated local support, making it slightly less tailored for the specific needs of the Indonesian trading community.
| Broker | OANDA |
| Accepts Traders in Indonesia | Yes |
| Regulation Number in Indonesia | Not regulated by BAPPEBTI |
| Local Offices in Indonesia | None |
| Can You Trade with Local Currency (IDR)? | Yes |
| Is There Local Support in Indonesia? | Yes |
| Indonesian-Based Account | Yes |
| Minimum Deposit in IDR | 0 IDR |
| Leverage | 1:200 |
| Bonuses | None |
| Fund Withdrawal Fee | None |
| Spreads from | 0.6 pips |
| Investor Protection Schemes | Limited |
| Negative Balance Protection | Yes |
| Read Review | |
| Open Account |  |
Frequently Asked Questions
Which platforms does OANDA support?
OANDA supports its proprietary OANDA Trade web and mobile platforms, which are highly regarded for their intuitive interface and advanced charting. Additionally, they integrate with popular third-party platforms including MetaTrader 4 (MT4), MetaTrader 5 (MT5), and TradingView.
Does OANDA offer Islamic accounts?
Yes, OANDA does offer Islamic (swap-free) accounts for clients who require them to comply with Sharia law. These accounts do not incur or pay overnight swap charges. You need to open a standard account first and then request a conversion.
Pros and Cons
| ✓ Pros | ✕ Cons |
| Strong Global Regulation | Not Regulated in Indonesia |
| No Minimum Deposit | Limited Local Support |
| Transparent Pricing | No Bonuses or Promotions |
| Advanced Trading Tools | Narrow Product Range |
| Negative Balance Protection | Withdrawal Fees Possible |
Our Insights
OANDA is a highly reputable and globally regulated broker, perfect for traders who prioritize safety, transparent pricing, and robust trading technology. With over two decades of experience and oversight from top authorities, it’s a solid choice for serious traders.
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐☆ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐☆☆ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐☆☆ |
| 4 | Research and Education | ⭐⭐⭐⭐☆ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐☆ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐⭐⭐ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐⭐☆ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐☆ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐⭐ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐⭐☆ |
5. Pepperstone
Pepperstone accepts Indonesian traders, offering Standard and Razor accounts with no minimum deposit, Islamic (swap-free) accounts, and 24/5 customer support. However, it is not regulated by Indonesia’s OJK, and accounts are not IDR-denominated, which may incur conversion fees. Local payment methods like bank transfers and cards are supported, but M-Pesa is not available.
| Broker | Pepperstone |
| Accepts Traders in Indonesia | Yes |
| Regulation Number in Indonesia | Not regulated by BAPPEBTI |
| Local Offices in Indonesia | None |
| Can You Trade with Local Currency (IDR)? | Yes |
| Is There Local Support in Indonesia? | Yes |
| Indonesian-Based Account | Yes |
| Minimum Deposit in IDR | 0 USD |
| Leverage | 1:200 |
| Bonuses | Yes |
| Fund Withdrawal Fee | None |
| Spreads from | 0.0 pips |
| Commissions | Yes |
| Investor Protection Schemes | None |
| Negative Balance Protection | Yes |
| Read Review | |
| Open Account | |
Frequently Asked Questions
Which platforms does Pepperstone support?
Pepperstone offers a robust selection of trading platforms, including the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5). They also support cTrader and TradingView, alongside their own Pepperstone webtrader platform and mobile app, catering to diverse trading preferences.
Does Pepperstone offer Islamic accounts?
Yes, Pepperstone offers Islamic (swap-free) accounts for traders who cannot pay or receive interest due to religious beliefs. These accounts replace overnight swap charges with an administrative fee on positions held for more than five days.
Pros and Cons
| ✓ Pros | ✕ Cons |
| Strong Global Regulation | Not Regulated by BAPPEBTI |
| Ultra-Low Spreads | No Local Office in Indonesia |
| Multiple Platforms | Limited Bonus Offers |
| Fast Execution | Advanced Features May Overwhelm Beginners |
| Copy Trading Support | Inactivity Fee |
Our Insights
Pepperstone is an excellent broker for experienced or semi-professional traders who prioritize low spreads, platform flexibility, and rapid execution. Globally trusted, it’s an ideal choice for scalping, day trading, or algorithmic strategies.
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐☆ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐☆ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐☆ |
| 4 | Research and Education | ⭐⭐⭐☆☆ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐☆ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐⭐☆ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐☆☆ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐⭐ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐☆ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐☆☆ |
6. FP Markets
FP Markets welcomes Indonesian traders by offering Standard, Raw, and Islamic (swap-free) accounts. You can start with a low AUD 100 minimum deposit, about IDR 1.1 million, and benefit from 24/7 multilingual support in Indonesian. However, it’s not regulated by Indonesia’s OJK, and accounts aren’t IDR-denominated, so currency conversion fees apply. Local bank transfers and cards are supported for easy funding.
| Broker | FP Markets |
| Accepts Traders in Indonesia | Yes |
| Regulation Number in Indonesia | Not regulated by Indonesia's BAPPEBTI |
| Local Offices in Indonesia | None |
| Can You Trade with Local Currency (IDR)? | Yes |
| Is There Local Support in Indonesia? | Yes |
| Indonesian-Based Account | Yes |
| Minimum Deposit in IDR | 1.6 Million IDR |
| Leverage | 1:500 |
| Bonuses | None |
| Fund Withdrawal Fee | Yes |
| Spreads from | 0.0 pips |
| Commissions | Yes |
| Investor Protection Schemes | Yes |
| Negative Balance Protection | Yes |
| Read Review | |
| Open Account | |
Frequently Asked Questions
What platforms does FP Markets offer?
FP Markets provides a wide array of trading platforms, including the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5). They also support cTrader and TradingView, along with their own WebTrader and Mobile App, catering to various trading styles and preferences.
What account types are available?
FP Markets offers diverse account types to suit various traders. These include Standard accounts with commission-free trading (spreads from 1.0 pips), Raw accounts with raw spreads plus a commission, and Islamic (swap-free) accounts across both Standard and Raw options.
Pros and Cons
| ✓ Pros | ✕ Cons |
| Strong Regulation | No BAPPEBTI Regulation |
| Tight Spreads | Limited Bonuses |
| Fast Execution | Commission on Raw Accounts |
| Multiple Platforms | Iress Platform is Expensive |
| Islamic (Swap-Free) Accounts | No Proprietary Trading App |
Our Insights
FP Markets is a well-regarded broker that appeals to both new and seasoned traders, especially those seeking low spreads, rapid execution, and a dependable trading environment. It’s particularly appealing for Indonesian traders thanks to local deposit methods (IDR support), Bahasa Indonesia customer service, high leverage (up to 1:500), and the availability of swap-free (Islamic) accounts.
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐☆ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐☆ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐☆ |
| 4 | Research and Education | ⭐⭐⭐⭐☆ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐☆ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐⭐☆ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐⭐☆ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐⭐ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐☆ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐⭐☆ |
7. IC Markets
IC Markets welcomes Indonesian traders by providing Standard, Raw Spread, and Islamic (swap-free) accounts with no minimum deposit required and 24/5 customer support available in Indonesian. Although it’s not regulated by Indonesia’s OJK and accounts aren’t IDR-denominated, incurring conversion fees, local payment methods like bank transfers, cards, and e-wallets (Skrill) are supported, but M-Pesa is unavailable.
| Broker | IC Markets |
| Accepts Traders in Indonesia | Yes |
| Regulation Number in Indonesia | Not regulated by Indonesia's BAPPEBTI |
| Local Offices in Indonesia | None |
| Can You Trade with Local Currency (IDR)? | None |
| Is There Local Support in Indonesia? | Yes |
| Indonesian-Based Account | None |
| Minimum Deposit in IDR | 3.1 Million IDR |
| Leverage | 1:1000 |
| Bonuses | None |
| Fund Withdrawal Fee | None |
| Spreads from | 0.0 pips |
| Commissions | Yes |
| Investor Protection Schemes | Yes |
| Negative Balance Protection | Yes |
| Read Review | |
| Open Account | |
Frequently Asked Questions
What account types are available?
IC Markets offers three primary account types: Standard accounts (commission-free with spreads from 0.8 pips), Raw Spread accounts (raw spreads from 0.0 pips plus a commission, available on MT4/MT5 and cTrader), and Islamic (swap-free) accounts.
Does IC Markets offer copy trading?
Yes, IC Markets offers extensive copy trading options. They integrate with popular social and copy trading platforms like cTrader Copy, ZuluTrade, and Signal Start. Additionally, their proprietary IC Social app allows clients to replicate strategies from successful traders.
Pros and Cons
| ✓ Pros | ✕ Cons |
| Tight Spreads | Not Regulated by BAPPEBTI |
| High Leverage | No Bonuses or Promotions |
| Multiple Platforms | Limited Investor Protection |
| Islamic Accounts Available | No Proprietary Mobile App |
| Regulated Broker | Negative Balance Protection Not Guaranteed |
Our Insights
IC Markets is a world-leading ECN forex broker, renowned for its ultra-tight spreads, lightning-fast execution, and advanced platforms like MT4, MT5, and cTrader. For traders in Indonesia, IC Markets is a strong choice due to its Bahasa Indonesia support and global credibility.
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐⭐ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐☆ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐☆ |
| 4 | Research and Education | ⭐⭐⭐☆☆ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐☆ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐⭐☆ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐⭐☆ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐⭐ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐☆ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐⭐☆ |
8. XM
XM accepts Indonesian traders, offering Micro, Standard, Ultra Low, and Shares accounts with a very low $5 minimum deposit (around IDR 80,000) for most account types, leverage up to 1:1000, and 24/5 customer support in Indonesian. Islamic (swap-free) accounts are available, along with local payment methods for convenient funding.
| Broker | XM |
| Accepts Traders in Indonesia | Yes |
| Regulation Number in Indonesia | Not regulated by Indonesia's BAPPEBTI |
| Local Offices in Indonesia | Yes |
| Can You Trade with Local Currency (IDR)? | Yes |
| Is There Local Support in Indonesia? | Yes |
| Indonesian-Based Account | Yes |
| Minimum Deposit in IDR | 78,575 IDR |
| Leverage | 1:1000 |
| Bonuses | Yes |
| Fund Withdrawal Fee | None |
| Spreads from | 0.6 pips |
| Commissions | Yes |
| Investor Protection Schemes | Yes |
| Negative Balance Protection | Yes |
| Read Review | |
| Open Account | |
Frequently Asked Questions
Is XM available in Indonesia?
Yes, XM is available to Indonesian traders. While XM is not locally regulated by BAPPEBTI in Indonesia, it accepts Indonesian residents through its globally regulated entities, often the one regulated by the FSC in Belize. XM offers support in Indonesian and provides localized services.
Can I open an Islamic account?
Yes, XM offers Islamic (swap-free) accounts for Muslim traders who need to comply with Sharia law. These accounts are available for their Micro, Standard, and Ultra Low account types, allowing you to trade without incurring or paying overnight swap charges.
Pros and Cons
| ✓ Pros | ✕ Cons |
| Low Minimum Deposit | Not Regulated in Indonesia |
| High Leverage | No Local Bank Deposit Option |
| Multilingual Support | Shares Account Has Commission |
| Multiple Platforms | Leverage Depends on Jurisdiction |
| Educational Resources | No Proprietary Trading App |
Our Insights
XM is a trusted, beginner-friendly broker offering generous bonuses, low entry requirements, and support in Bahasa Indonesia. It’s a great choice if you’re new to trading, want to start small, or prefer commission-free accounts.
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐☆ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐☆ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐☆ |
| 4 | Research and Education | ⭐⭐⭐⭐⭐ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐☆ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐☆☆ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐⭐☆ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐☆ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐☆ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐⭐☆ |
9. Tickmill
Tickmill welcomes Indonesian traders, offering Classic, Pro, VIP, and Islamic (swap-free) accounts with a reasonable $100 minimum deposit (about IDR 1.6 million) and 24/5 customer support in Indonesian. However, it’s not regulated by Indonesia’s OJK, and accounts aren’t IDR-denominated, so conversion fees apply. Local bank transfers, cards, and e-wallets are supported with no deposit or withdrawal fees.
| Broker | Tickmill |
| Accepts Traders in Indonesia | Yes |
| Regulation Number in Indonesia | Not regulated by Indonesia's BAPPEBTI |
| Local Offices in Indonesia | None |
| Can You Trade with Local Currency (IDR)? | Yes |
| Is There Local Support in Indonesia? | Yes |
| Indonesian-Based Account | Yes |
| Minimum Deposit in IDR | 1.5 Million IDR |
| Leverage | 1:1000 |
| Bonuses | Yes |
| Fund Withdrawal Fee | None |
| Spreads from | 0.0 pips |
| Commissions | Yes |
| Investor Protection Schemes | None |
| Negative Balance Protection | Yes |
| Read Review | |
| Open Account | |
Frequently Asked Questions
What account types are available?
Tickmill offers Classic, Raw, and VIP accounts, catering to different trading styles and volumes. The Classic account is commission-free, while Raw and VIP accounts feature tighter spreads with commissions. All live accounts can also be opened as Islamic (swap-free) versions.
What is the maximum leverage?
Tickmill offers maximum leverage of 1:1000 for certain forex pairs and gold on specific account types and platforms. For other instruments like cryptocurrencies, leverage is up to 1:200, and for stock indices, it’s up to 1:100.
Pros and Cons
| ✓ Pros | ✕ Cons |
| Tight Spreads | Not Regulated in Indonesia |
| Low Commissions | No Local Office in Indonesia |
| High Leverage Available | Limited Asset Classes |
| Fast Execution Speed | Leverage Depends on Regulation |
| Supports IDR Funding | Bonus Not Available Under FCA/CySEC |
Our Insights
Tickmill is a globally respected broker known for its tight spreads, low commissions, and high leverage, making it particularly appealing for scalpers, day traders, and experienced forex users. For Indonesian traders, its appeal is further boosted by local deposit methods like FasaPay, Bahasa Indonesia support, and available Islamic (swap-free) accounts.
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐☆ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐☆ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐⭐ |
| 4 | Research and Education | ⭐⭐⭐⭐☆ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐☆ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐⭐⭐ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐⭐⭐ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐⭐ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐⭐ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐⭐☆ |
10. CMC Markets
CMC Markets doesn’t have a local office in Indonesia, but Indonesian traders can register through its international website. Funding is usually done via international methods such as bank transfers and credit/debit cards, as it does not support local Indonesian payment systems like e-wallets or local bank gateways, limiting payment convenience.
| Broker | CMC Markets |
| Accepts Traders in Indonesia | Yes |
| Regulation Number in Indonesia | Not regulated by Indonesian authorities |
| Local Offices in Indonesia | None |
| Can You Trade with Local Currency (IDR)? | Yes |
| Is There Local Support in Indonesia? | None |
| Indonesian-Based Account | Yes |
| Minimum Deposit in IDR | 0 IDR |
| Leverage | 30:1 |
| Bonuses | None |
| Fund Withdrawal Fee | Yes |
| Spreads from | 0.0 pips |
| Commissions | Yes |
| Investor Protection Schemes | None |
| Negative Balance Protection | Yes |
| Read Review | |
| Open Account | |
Frequently Asked Questions
What trading platforms does CMC Markets offer?
CMC Markets offers its powerful, award-winning proprietary Next Generation web platform and mobile app, known for advanced charting and tools. They also support industry favorites MetaTrader 4 and MetaTrader 5, and integrate with TradingView for enhanced charting and social features.
Does CMC Markets offer customer support?
Yes, CMC Markets offers 24/5 customer support via phone and email, typically available from Monday to Friday. They also have a comprehensive FAQ section and might offer live chat depending on your region.
Pros and Cons
| ✓ Pros | ✕ Cons |
| Top-Tier Regulation | MT4 Support Is Limited |
| Advanced Trading Platform | Commissions on Some Products |
| Competitive Pricing | Complex Fee Structure |
| No Minimum Deposit Requirement | No Bonuses or Promotions |
| Free Demo Account | Not Available in Some Countries |
Our Insights
CMC Markets is a highly reputable, well-regulated broker providing advanced tools, a vast array of trading instruments, and robust investor protections. It’s best suited for experienced traders seeking professional-grade features and tight spreads on a dependable platform.
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐⭐ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐☆ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐☆ |
| 4 | Research and Education | ⭐⭐⭐⭐☆ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐⭐ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐⭐⭐ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐⭐☆ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐☆ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐⭐ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐⭐☆ |
Forex Trading in Indonesia – Quick Overview
Forex trading in Indonesia is a growing but highly regulated activity, overseen by the Financial Services Authority (OJK) and the Commodity Futures Trading Regulatory Agency (Bappebti). Indonesian traders can access forex markets through licensed local brokers or offshore brokers, trading major and exotic currency pairs, CFDs, and other instruments like commodities and indices.
Key points:
- Regulation: BAPPEBTI ensures brokers comply with capital requirements, leverage limits, and client protection rules. OJK oversees financial markets broadly but not forex directly.
- Broker options: Licensed local brokers and reputable offshore firms serve Indonesian traders. Always verify broker licenses before trading.
- Account types: Islamic (swap-free) accounts are commonly offered to comply with local religious practices.
- Currency: Most brokers don’t offer IDR accounts, so currency conversion fees may apply.
- Payment methods: Local bank transfers and cards are common, but some international brokers may lack Indonesian e-wallet or local bank gateway support.
Beware of unlicensed brokers or scams; only trade with BAPPEBTI-licensed or globally regulated brokers.
10 Best Forex Brokers in Indonesia – Leaders Face Off
| 1 | | Low trading fees. Best margin rates. Provides multi-currency support. | | |
| 2 | | User-friendly platforms. Strong regulatory backing. Indonesian educational resources. |  | |
| 3. | | Localized presence in Indonesia. Local deposits/withdrawals through Indonesian banks. Popular in Asia. | | |
| 4 |  | Super-fast MT5 bridge. 24-hour multilingual support. Excellent proprietary platform. |  | |
| 5 |  | Fast and reliable execution. Elite trading tech. Provides local payment solutions in Indonesia. | | |
| 6 |  | Consistently tight spreads. Ultra-low latency order execution. Tight ECN pricing and deep liquidity. | | |
| 7 |  | Suited for both new and experienced traders. Robust research content. Local funding options for Southeast Asia. | | |
| 8 |  | Live educational sessions. Competitive fees, spreads, and commissions. Local customer support. Swap-free Islamic accounts, suitable for Indonesian Muslims. | | |
| 9 |  | Advanced pending orders. Transparent pricing structure. Low commission and tight spreads. |  | |
| 10 |  | Next Generation trading platform. Advanced charting tools. Award-winning proprietary platform. | | |
What Indonesian Traders Want to Know!
Q: Is forex trading legal in Indonesia?
A: Yes, forex trading is legal in Indonesia. It’s primarily regulated by BAPPEBTI, the Commodity Futures Trading Regulatory Agency, under the Ministry of Trade. Traders should use brokers either locally regulated by BAPPEBTI or reputable international brokers that accept Indonesian clients.
Q: Can I trade with foreign brokers from Indonesia?
A: Yes, Indonesian residents can legally trade with foreign forex brokers. While local regulation by BAPPEBTI is important for domestic brokers, many international brokers accept Indonesian clients through their global entities, often offering tailored services like Bahasa Indonesia support and local payment methods.
Q: What is BAPPEBTI?
A: BAPPEBTI, or Badan Pengawas Perdagangan Berjangka Komoditi, is Indonesia’s Commodity Futures Trading Regulatory Agency. It operates under the Ministry of Trade and is responsible for developing, regulating, and supervising futures trading activities, including forex and certain derivatives, within the country.
Q: Can I trade on my smartphone?
A: Yes! Most reputable forex brokers offer mobile trading apps for both Android and iOS smartphones. These apps provide nearly full functionality, allowing you to monitor markets, execute trades, manage accounts, and use charting tools on the go.
Q: What is the minimum deposit to start trading in Indonesia?
Pros and Cons
| ✓ Pros | ✕ Cons |
| Legal and Regulated | High Risk and Volatility |
| Growing Community | Limited Broker Options |
| Low Capital Entry | Scams and Unlicensed Brokers |
| Mobile Trading Access | No Investor Protection Schemes |
| Flexible Trading Hours | Regulatory Restrictions on Global Brokers |
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- IC Markets Review
- XM Review
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- CMC Markets Review
In Conclusion
While BAPPEBTI licenses local brokers, many Indonesian traders opt for reputable international brokers. These global platforms often offer tailored services like Bahasa Indonesia support, local payment methods, and Islamic (swap-free) accounts, along with diverse instruments, competitive conditions, and advanced platforms.
Faq
Yes, forex trading is highly risky. It involves significant leverage, magnifying both potential gains and losses. Currency markets are volatile and influenced by many factors, making them difficult to predict. There’s a real risk of losing your entire initial investment.
No, you don’t need prior experience to start. Many brokers offer demo accounts for risk-free practice. However, successful trading demands education, patience, and a disciplined approach to risk management. It’s crucial to learn the basics before trading with real money.
The global forex market operates 24 hours a day, five days a week. In Indonesia (WIB), trading generally starts at 5:00 AM on Monday (with the Sydney session) and closes at 3:00 AM on Saturday.
In Indonesia, you can learn forex trading through online broker education (webinars, articles from brokers like FP Markets, IC Markets), online courses (e.g., Udemy, The Knowledge Academy), and crucially, by practicing on demo accounts from any reputable broker to gain risk-free experience.
