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 a 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.

 

★★★★

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

Get startedRead Review

 

 

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.

 

 

★★★★

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

Get startedRead Review

 

Pros and Cons

 

 

 

 

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.

 

★★★★★

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

Get startedRead Review

 

 

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.

 

 

★★★★★

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

Get startedRead Review

 

Pros and Cons

 

 

 

 

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.

 

★★★★★

Minimum Deposit: $25 Regulated by: CySEC, MISA, FSCA, FSC Crypto: Yes

Get startedRead Review

 

 

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.

 

 

★★★★★

Minimum Deposit: $25 Regulated by: CySEC, MISA, FSCA, FSC Crypto: Yes

Get startedRead Review

 

Pros and Cons

 

 

 

 

Top 3 Forex Brokers in Indonesia – Compared

 

 

Regulation and Legality of Forex Trading in Indonesia

Understanding the regulation and legality of Forex trading in Indonesia is essential for traders who want to operate safely and within the law. With clear oversight from government bodies like BAPPEBTI and OJK, Indonesia ensures that Forex trading remains transparent, secure, and compliant with national financial standards.

 

Is Forex Trading Legal in Indonesia?

Yes, Forex trading is legal in Indonesia when conducted through brokers licensed by BAPPEBTI. The regulatory body ensures brokers comply with national standards and protect investors from fraud or excessive leverage.

 

Role of BAPPEBTI and OJK

BAPPEBTI oversees futures and forex activities, while OJK (Otoritas Jasa Keuangan) regulates financial institutions. Together, they ensure brokers meet transparency, security, and financial standards.

 

How to Verify a Broker

Traders can check a broker’s license directly on the BAPPEBTI website or confirm if it holds a regulation from respected global authorities such as ASIC (Australia), FCA (UK), or CySEC (Cyprus).

 

Risks of Unlicensed Brokers

Unlicensed brokers may operate without oversight, posing high risks of scams, delayed withdrawals, or manipulation of trading results. Always verify before opening 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.

 

★★★★

Minimum Deposit: $0 Regulated by: NFA, CFTC Crypto: Via Paxos

Get startedRead Review

 

 

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.

 

 

★★★★

Minimum Deposit: $0 Regulated by: NFA, CFTC Crypto: Via Paxos

Get startedRead Review

 

Pros and Cons

 

 

 

 

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.

 

★★★★★

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

Get startedRead Review

 

 

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.

 

 

★★★★★

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

Get startedRead Review

 

Pros and Cons

 

 

 

 

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.

 

★★★★★

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

Get startedRead Review

 

 

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.

 

 

★★★★★

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

Get startedRead Review

 

Pros and Cons

 

 

 

 

How We Ranked the Best Forex Brokers in Indonesia

Our selection process focuses on key factors important to Indonesian traders. Ranking criteria:

 

1. Regulation and Safety – Global or local BAPPEBTI licensing.
2. Local Funding Options – Support for IDR deposits, FasaPay, and local banks.
3. Islamic (Swap-Free) Accounts – Compliance with Shariah trading principles.
4. Platform Quality – Availability of MT4, MT5, or proprietary trading systems.
5. Spreads and Execution – Tight spreads and low latency.
6. Customer Support – Bahasa Indonesia support and 24/5 availability.

 

This ensures each listed broker meets local expectations for safety, reliability, and accessibility.

 

Mobile Trading Experience

Mobile trading has become essential for Indonesian traders, as many prefer to manage positions, monitor markets, and execute trades on the go. Searches like “forex app download Indonesia” or “MT4/MT5 mobile review” are increasingly common, making mobile usability a key factor when choosing a broker.

The top brokers in Indonesia offer robust mobile solutions across popular platforms like MetaTrader 4 (MT4) and MetaTrader 5 (MT5), as well as proprietary apps that deliver fast execution, advanced charting, and localized features.

 

 

All ten brokers offer full mobile functionality, allowing Indonesian traders to manage accounts, fund IDR wallets, and execute trades anytime. Proprietary apps often include additional features like market news, trading signals, or advanced charting not always available on standard MT4/MT5 mobile platforms.

Mobile trading is a convenient, fast, and increasingly necessary way to stay connected to global markets, and each of these brokers provides reliable solutions for traders in Indonesia.

 

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.

 

★★★

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

Get startedRead Review

 

 

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.

 

 

★★★

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

Get startedRead Review

 

Pros and Cons

 

 

 

 

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.

 

★★★★★

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

Get startedRead Review

 

 

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.

 

 

★★★★★

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

Get startedRead Review

 

Pros and Cons

 

 

 

 

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.

 

★★★★★

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

Get startedRead Review

 

 

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.

 

 

★★★★★

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

Get startedRead Review

 

Pros and Cons

 

 

 

 

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.

 

★★★★★

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

Get startedRead Review

 

 

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.

 

 

★★★★★

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

Get startedRead Review

 

Pros and Cons

 

 

 

 

Local Deposit and Withdrawal Methods for Indonesian Traders

Depositing and withdrawing in Indonesia has become simpler with brokers supporting local payment gateways. Popular funding methods include:

 

• Local Bank Transfer (BCA, Mandiri, BNI, BRI)
• FasaPay
• Neteller, Skrill
• Visa/Mastercard
• Crypto Deposits (BTC, USDT, etc., with select brokers)

 

 

All ten brokers support reliable deposit methods, though only a few offer instant local withdrawals and direct IDR deposits.

 

Islamic (Swap-Free) Forex Accounts in Indonesia

Islamic or swap-free accounts allow Indonesian Muslim traders to trade without overnight interest (riba).

 

 

Most leading brokers now offer Shariah-compliant trading options, except Interactive Brokers, which operates under a conventional model.

 

10 Best Forex Brokers in Indonesia – Leaders Face Off

 

 

Best Forex Brokers by Category (Indonesia 2025)

 

 

What Indonesian Traders Want to Know!

If you’re considering forex trading in Indonesia, you probably have a few key questions about legality, regulations, brokers, and how to get started. Below, we answer the most common queries to help you trade confidently and safely.

 

Q: Is forex trading legal in Indonesia?

 

Q: Can I trade with foreign brokers from Indonesia?

 

Q: What is BAPPEBTI?

 

Q: Can I trade on my smartphone?

 

Q: What is the minimum deposit to start trading in Indonesia?

 

How to Start Forex Trading in Indonesia

Starting Forex trading in Indonesia is straightforward when you follow a clear, step-by-step approach. By choosing a regulated broker, completing account registration and verification, and familiarizing yourself with trading platforms, you can confidently begin your journey in the Indonesian Forex market while keeping your investments secure.

 

1. Choose a Regulated Broker – Prefer BAPPEBTI-approved or top-tier global brokers.
2. Register an Account – Fill out your details and verify your email.
3. Verify Identity – Upload KTP or passport for verification.
4. Fund the Account – Use local bank transfer, FasaPay, or e-wallets.
5. Download Trading Platform – MT4, MT5, or mobile app.
6. Start with a Demo Account – Learn the basics risk-free.
7. Begin Live Trading – Use a strategy and manage risk carefully.

 

By following these steps – from selecting a reliable broker to practicing on a demo account before moving to live trading – you can build a strong foundation for successful Forex trading in Indonesia. Careful planning, risk management, and continuous learning are key to growing your trading skills and achieving consistent results.

 

Risks and Warnings for Indonesian Traders

Forex trading carries significant risk, and unregulated brokers can be dangerous.
Watch for:

 

• Promises of guaranteed profits.
• Brokers not listed on BAPPEBTI or with fake licenses.
• Investment schemes disguised as trading.
• Overuse of high leverage leads to losses.

 

Always trade with regulated brokers and educate yourself before committing real funds.

 

Pros and Cons of Forex Trading in Indonesia

 

 

You Might Also Like:

 

• Interactive Brokers Review
• AvaTrade Review
• Octa Review
• Oanda Review
• Pepperstone Review
• FP Markets Review
• IC Markets Review
• XM Review
• Tickmill Review
• CMC Markets Review

 

In Conclusion

Forex trading in Indonesia is a growing, regulated opportunity for retail investors. With BAPPEBTI oversight, local payment methods, and Shariah-compliant accounts, traders can safely access global markets. In 2025, the Top 10 Best Forex Brokers in Indonesia stand out for their reliability, regulation, and tailored services for Indonesian traders.