Demo Account Guide
Demo Account Guide
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Exclusive Guides for Indonesian Traders

👪 Population: 279,115,548 (March 2024)
💵 GDP: 1.542 trillion USD (2023)
📊 GDP per Capita: 16,843 USD (2023)
  Full Year GDP Growth: 5.04% (2024)
💹 Inflation Rate: 2.75% (Feb 2024)
💳 Consumer Price Index (CPI): 105.58 points
📅 Average Salary in indonesia: Rp12,200,000 (806 USD)/Month
*information as of March 2024

Forex Trading in Indonesia

Despite its rising popularity, forex trading in Indonesia requires navigating a specific regulatory landscape. The Financial Services Authority (OJK) oversees the financial sector, but local forex brokers must hold a separate license from BAPPEBTI (Commodity Futures Trading Regulatory Agency). This agency ensures fair market practices, prevents fraud, and regulates the commodity futures market, protecting investors.

Furthermore, international brokers can legally operate in Indonesia, often offering a wider range of services. However, the OJK still plays a crucial role in regulating securities trading and enforcing financial regulations, ensuring compliance by all brokers, both domestic and international. This intricate system underscores the importance of choosing a well-regulated broker, regard.

The Brokers

Choosing a reliable forex broker in Indonesia requires careful consideration due to the dual regulatory framework and potential risks. While some international brokers may be popular due to brand recognition, prioritize BAPPEBTI licensing for domestic brokers to ensure a secure trading experience. Apart from that, there are also recommendations for international brokers that are very popular for Indonesian traders. Here is our list of the best forex brokers in Indonesia:

Year Est. 2000
Min Deposit
Affordable fees for beginners
$500
Leverage 1:500
Regulation Bappepti
score 47
Year Est. 2009
Min Deposit
Adjustable Leverage
$5
Leverage 1:3000
Regulation ASIC, CySEC, FSCA, Belize Financial Service Commission (FSC), FCA
score 84
Year Est. 2008
Min Deposit
Fast Withdrawal
$10
Leverage 1:2000
Regulation FSA (Seychelles), CBCS (Curacao), FSC (BVI), FSCA, CMA (Kenya), FCA, CySEC, ESMA
score 86
Year Est. 2007
Min Deposit
Commendable Raw Spreads
$200
Leverage 1:1000
Regulation ASIC, CySEC, SCB, The Financial Commission, FSA (Seychelles)
score 89
Year Est. 2011
Min Deposit
Low Cost Forex Broker
$25
Leverage 1:500
Regulation CySEC, SVGFSA
score 78
Year Est. 2007
Min Deposit
Top Social Trading Platform
$200
Leverage 1:400
Regulation CySEC, FCA, ASIC, FINRA, Financial Services Regulatory Authority (Abu Dhabi), FSA (Seychelles)
score 84
Year Est. 2010
Min Deposit
Best for Beginners
$0
Leverage 1:400
Regulation ASIC, BaFin, Capital Markets Authority of Kenya, CySEC, DFSA (Dubai), FCA, SCB
score 79
Year Est. 2009
Min Deposit
High Execution Speed
$50
Leverage 1:400
Regulation Belize Financial Service Commission (FSC), The Financial Commission
score 76
Year Est. 2009
Min Deposit
Best Educational content
$5
Leverage 1:1000
Regulation FCA, CySEC, BaFin, CNMV, FSP (New Zealand), ASIC, CONSOB (Italy), Belize Financial Service Commission (FSC), ESMA
score 81
Year Est. 2010
Min Deposit
Award Winning Broker
$0
Leverage 1:2000
Regulation Capital Markets Authority of Kenya, CySEC, DFSA (Dubai), FCA, FSA (Seychelles), SVGFSA, FSC (Mauritius), FSCA
score 71
score 47
Affordable fees for beginners
Year Est. 2000
Min Deposit $500
Leverage 1:500
Regulation Bappepti
score 84
Adjustable Leverage
Year Est. 2009
Min Deposit $5
Leverage 1:3000
Regulation ASIC, CySEC, FSCA, Belize Financial Service Commission (FSC), FCA
score 86
Fast Withdrawal
Year Est. 2008
Min Deposit $10
Leverage 1:2000
Regulation FSA (Seychelles), CBCS (Curacao), FSC (BVI), FSCA, CMA (Kenya), FCA, CySEC, ESMA
score 89
Commendable Raw Spreads
Year Est. 2007
Min Deposit $200
Leverage 1:1000
Regulation ASIC, CySEC, SCB, The Financial Commission, FSA (Seychelles)
score 78
Low Cost Forex Broker
Year Est. 2011
Min Deposit $25
Leverage 1:500
Regulation CySEC, SVGFSA
score 84
Top Social Trading Platform
Year Est. 2007
Min Deposit $200
Leverage 1:400
Regulation CySEC, FCA, ASIC, FINRA, Financial Services Regulatory Authority (Abu Dhabi), FSA (Seychelles)
score 79
Best for Beginners
Year Est. 2010
Min Deposit $0
Leverage 1:400
Regulation ASIC, BaFin, Capital Markets Authority of Kenya, CySEC, DFSA (Dubai), FCA, SCB
score 76
High Execution Speed
Year Est. 2009
Min Deposit $50
Leverage 1:400
Regulation Belize Financial Service Commission (FSC), The Financial Commission
score 81
Best Educational content
Year Est. 2009
Min Deposit $5
Leverage 1:1000
Regulation FCA, CySEC, BaFin, CNMV, FSP (New Zealand), ASIC, CONSOB (Italy), Belize Financial Service Commission (FSC), ESMA
score 71
Award Winning Broker
Year Est. 2010
Min Deposit $0
Leverage 1:2000
Regulation Capital Markets Authority of Kenya, CySEC, DFSA (Dubai), FCA, FSA (Seychelles), SVGFSA, FSC (Mauritius), FSCA

The Regulations

Indonesia enforces specific regulations for forex trading to ensure a safe and Sharia-compliant environment for its citizens. The regulatory body, BAPPEBTI, mandates brokers to offer trading conditions that adhere to Islamic principles, eliminating practices like interest-based fees and excessive risk.

To achieve this, BAPPEBTI-regulated brokers primarily rely on spreads and commissions for income. Additionally, leverage is capped at a conservative 1:100 ratio to protect traders from high market volatility. It's crucial to note that since 2013, Indonesian regulations have prohibited overseas forex brokers from operating within the country.

Therefore, Indonesian traders are advised to solely utilize brokers licensed and regulated by BAPPEBTI to ensure they are operating under the protection of these regulations.

Pros
  • Sharia-compliant trading for muslim trader
  • Provided leverage up to 1:100
  • Offering a layer of protection for Indonesian traders
Cons
  • Only BAPPEBTI-regulated brokers can operate in Indonesia
  • Potentially higher fees
  • Conservative leverage
  • Potentially limiting trading strategies
Apr 4 2024
Forex trading scams are frequently occurring in Indonesia. You can avoid them by understanding Indonesian forex trading environment, then take the following steps.

How to Avoid Trading Scams in Indonesia

Apr 4 2024
Forex trading scams are frequently occurring in Indonesia. You can avoid them by understanding Indonesian forex trading environment, then take the following steps.
Aug 14 2023
To commemorate the 78th anniversary of independence, HF Markets Indonesia is providing a prize of IDR17 million for 17 lucky Indonesian traders.

HF Markets Gives IDR17 Million for Indonesian Traders on Independence Day

Aug 14 2023
To commemorate the 78th anniversary of independence, HF Markets Indonesia is providing a prize of IDR17 million for 17 lucky Indonesian traders.