10 Best Forex Brokers in Indonesia

 

The 10 Best Forex Brokers in Indonesia revealed. We have explored and tested several prominent brokers to identify the 10 Best.

 

Top 3 Forex Brokers in Indonesia – Compared

 

 

Here is a Breakdown of Topics covered in this comprehensive guide:

 

• A Detailed Ranking of the 10 Best Forex Brokers in Indonesia
• Pros and Cons of Forex Trading
• Forex Trading in Indonesia – Quick Overview

 

and much, MUCH more!

 

Top 10 Forex Brokers in Indonesia and What Sets Them Apart

 

 

Now let’s deep dive into each broker that made the list…

 

10 Best Forex Brokers in Indonesia (2025)

 

• Interactive Brokers – Top Broker in Indonesia
• AvaTrade – Insurance-like coverage for volatile trades
• Exness – Competitive trading conditions in Indonesia
• OANDA – 24-hour support to Indonesian Traders
• Pepperstone – Intuitive MT4, and MT5 trading platform
• FP Markets – Competitive pricing and deep liquidity
• IC Markets – Unrivalled trade execution speeds
• XM -Excellent customer support to Local Traders
• Tickmill – VPS hosting for low-latency trading
• CMC Markets – Multiple chart types and drawing tools

 

Top 10 Forex Brokers (Globally)

 

 

1. Interactive Brokers

 

★★★★

Minimum Deposit: $0 Regulated by: SEC, FINRA, FCA, ASIC Crypto: No

Get startedRead Review

 

While Interactive Brokers isn’t locally regulated by OJK (Otoritas Jasa Keuangan) in Indonesia, residents can legally open accounts through its global entities, typically via the Singapore or Hong Kong branches.

 

 

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

 

 

★★★★

Minimum Deposit: $0 Regulated by: SEC, FINRA, FCA, ASIC Crypto: No

Get startedRead Review

 

 

Final Score

 

 

2. AvaTrade

 

★★★★★

Minimum Deposit: $100 Regulated by: CBI, BVI, FSC, ASIC, FSCA, JFSA, FFAJ Crypto: Yes

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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.

 

 

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

 

 

★★★★★

Minimum Deposit: $100 Regulated by: CBI, BVI, FSC, ASIC, FSCA, JFSA, FFAJ Crypto: Yes

Get startedRead Review

 

 

Final Score

 

 

3. Exness

 

★★★★★

Minimum Deposit: $1 Regulated by: CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA Crypto: Yes

Get startedRead Review

 

Exness is a globally recognized broker offering Indonesian traders diverse instruments, flexible accounts, and multilingual support. While operating legally under international regulations, its lack of local Indonesian regulation and offices might be a consideration for some.

 

 

Frequently Asked Questions

 

What is the minimum deposit at Exness?

Exness offers highly flexible minimum deposits. For Standard and Standard Cent accounts, there’s effectively no minimum first-time deposit, as it depends on the chosen payment method, often as low as $1 or USD 10. Professional accounts require a higher minimum of USD 200.

 

Can I open an Exness account from Indonesia?

Yes, Indonesian residents can legally open an Exness account through its international entities. Exness caters to Indonesian traders by offering localized services, including customer support in Indonesian and support for local payment methods.

 

Pros and Cons

 

 

★★★★★

Minimum Deposit: $1 Regulated by: CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA Crypto: Yes

Get startedRead Review

 

 

Final Score

 

 

4. OANDA

 

★★★★

Minimum Deposit: $0 Regulated by: NFA, CFTC Crypto: Yes

Get startedRead Review

 

OANDA is a well-regulated, trusted broker known for its solid technology and strong reputation. While it accepts Indonesian traders, it doesn’t offer IDR accounts, Islamic accounts, or local support, making it less tailored for the Indonesian market.

 

 

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

 

 

★★★★

Minimum Deposit: $0 Regulated by: NFA, CFTC Crypto: Yes

Get startedRead Review

 

 

Final Score

 

 

5. Pepperstone

 

★★★★★

Minimum Deposit: $200 Regulated by: ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB Crypto: Yes

Get startedRead Review

 

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, incurring conversion fees. Local payment methods like bank transfers and cards are supported, but M-Pesa is unavailable.

 

 

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

 

 

★★★★★

Minimum Deposit: $200 Regulated by: ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB Crypto: Yes

Get startedRead Review

 

 

Final Score

 

 

6. FP Markets

 

★★★★★

Minimum Deposit: $100 Regulated by: ASIC, CySEC, FSCA, FSA, FSC, CMA Crypto: Yes

Get startedRead Review

 

FP Markets welcomes Indonesian traders, providing Standard, Raw, and Islamic (swap-free) accounts. You can start with a low AUD 100 minimum deposit (around 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, meaning currency conversion fees will apply. Local payment methods, including bank transfers and cards, are supported.

 

 

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

 

 

★★★★★

Minimum Deposit: $100 Regulated by: ASIC, CySEC, FSCA, FSA, FSC, CMA Crypto: Yes

Get startedRead Review

 

 

Final Score

 

 

7. IC Markets

 

★★★

Minimum Deposit: $200 Regulated by: FSA Crypto: Yes

Get startedRead Review

 

IC Markets welcomes Indonesian traders, providing Standard, Raw Spread, and Islamic (swap-free) accounts with no minimum deposit and 24/5 support in Indonesian. While 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, though M-Pesa is unavailable.

 

 

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

 

 

★★★

Minimum Deposit: $200 Regulated by: FSA Crypto: Yes

Get startedRead Review

 

 

Final Score

 

 

8. XM

 

★★★★★

Minimum Deposit: $5 Regulated by: FSC Crypto: Yes

Get startedRead Review

 

XM accepts Indonesian traders, offering Micro, Standard, Ultra Low, and Shares accounts with a low $5 minimum deposit (approx. IDR 80,000) for most accounts, leverage up to 1:1000, and 24/5 support in Indonesian. Islamic (swap-free) accounts are available.

 

 

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

 

 

★★★★★

Minimum Deposit: $5 Regulated by: FSC Crypto: Yes

Get startedRead Review

 

 

Final Score

 

 

9. Tickmill

 

★★★★★

Minimum Deposit: $100 Regulated by: FCA, CySEC, FSA Crypto: Yes

Get startedRead Review

 

Tickmill welcomes Indonesian traders, providing Classic, Pro, VIP, and Islamic (swap-free) accounts with a $100 minimum deposit (around IDR 1.6 million) and 24/5 support in Indonesian. However, it’s not regulated by Indonesia’s OJK, and accounts aren’t IDR-denominated, leading to conversion fees. Local payment methods like bank transfers, cards, and e-wallets are supported without deposit or withdrawal fees.

 

 

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

 

 

★★★★★

Minimum Deposit: $100 Regulated by: FCA, CySEC, FSA Crypto: Yes

Get startedRead Review

 

 

Final Score

 

 

10. CMC Markets

 

★★★★★

Minimum Deposit: $0 Regulated by: BaFin, FCA, ASIC, MAS, FMA, IIROC, DFSA Crypto: Yes

Get startedRead Review

 

CMC Markets doesn’t have a local office in Indonesia, but Indonesian traders can register through its international website. Funding is typically done via international methods like bank transfers and credit/debit cards, as there’s no direct support for local Indonesian payment systems like e-wallets or local bank gateways.

 

 

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

 

 

★★★★★

Minimum Deposit: $0 Regulated by: BaFin, FCA, ASIC, MAS, FMA, IIROC, DFSA Crypto: Yes

Get startedRead Review

 

 

Final Score

 

 

 

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.

 

 

Frequently Asked Questions

 

Is forex trading legal in Indonesia?

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.

 

Can I trade with foreign brokers from Indonesia?

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.

 

What is BAPPEBTI?

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.

 

Can I trade on my smartphone?

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.

 

What is the minimum deposit to start trading in Indonesia?

The minimum deposit to start forex trading in Indonesia varies significantly by broker. While some international brokers like Exness offer accounts with as low as USD 10 minimums, others, particularly those with more advanced account types, might require more.

 

Pros and Cons

 

 

You Might also Like:

 

• Interactive Brokers Review
• Avatrade Review
• Exness Review
• Oanda Review
• Pepperstone Review
• FP Markets Review
• IC Markets Review
• XM Review
• Tickmill Review
• 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.