The Best Forex Brokers and Platforms in Indonesia

Even though the Indonesian forex market is steadily growing, there is one aspect that sets Indonesia apart from many other markets, which makes it harder for brokers to establish themselves here.

With the fact that Indonesia is the most populated Muslim country in the world, the best forex brokers in Indonesia should offer Islamic trading accounts.

Besides this, the best Indonesian forex brokers live up to the same standards as forex brokers in other jurisdictions. In other words, they need to be regulated and safe, offer a well-sorted selection of currency pairs, support easy transactions, and provide all the tools you need to be trading efficiently.

The three above-mentioned brokers all qualify as the top online forex brokers in Indonesia today.

There are no forex brokers in Indonesia that are completely free, since all of them charge spread on each trade, as well as a range of non-trading fees.

With that being said, the three above-mentioned brokers are all some of the cheapest in the country. Firstly, none of them charge commission; secondly, they have low minimum deposit levels; and thirdly, their spread is competitive compared with other brokers.

Also, by using one of these brokers’ demo accounts, you can technically trade on any market you like without paying a dime. Just keep in mind that you can’t make profit in real money while trading on a demo account.

Many traders look for a cheap forex broker, ie. a forex broker with low minimum deposit levels. Luckily, most of the forex brokers in Indonesia have low requirements and also tend to be quite cheap to trade with.

Today, a low minimum deposit is considered to be anything around $100, which might seem like a lot for some. Just remember that this requirement only applies to your first deposit.

After you’ve activated your account, you can deposit as much or as little as you want (within certain limits).

Better yet, all these forex brokers with low minimum deposits in Indonesia also offer an outstanding forex trading platform. It’s great proof that cheap isn’t always less good.

When looking for the best forex trading platforms for beginners in Indonesia, there are some specific factors that you have to consider. For example, that the brokers offer easy-to-use trading platforms and great educational material.

You also want the broker to have reasonable fees that you can afford, even as you get started.

Naturally, it’s a bonus if the broker also has a negative account balance and allows you to use a demo account for practise and strategy development.

Finally, statistics are showing that most beginners start trading on their mobile devices. In turn, we expect all the best forex trading platforms in Indonesia to have trading apps available on Android and iOS (iPhone & iPad).

Despite the massive increase in mobile use around the world – especially in developing countries – there is a global demand for forex brokers for PC in Indonesia, as well as abroad.

Luckily, all the top forex brokers in Indonesia support PCs, most often as a web-based platform accessed through a browser of your choice.

In certain cases, there may be a software to download, but generally speaking, PC trading is done through your browser.

Therefore, all the best forex brokers in Indonesia also qualify as the best forex brokers for PCs in Indonesia.

The best forex brokers in Indonesia all share certain traits and they also excel at offering forex trading for everyone, regardless of the trader’s budget and experience.

When picking a forex broker in Indonesia, there are some aspects that are more important than others. For example:

• Safety: Every forex broker you use has to be completely safe. The only way to confirm that a broker is safe is to ensure that it’s regulated and approved for the specific jurisdiction in which you live. Note that a safe broker is no guarantee that you won’t lose any funds, it’s only a guarantee that you won’t get ripped off.

• Assets: Naturally, your forex broker has to offer all the currency pairs that you’re looking to trade. If you want to trade IDR, the broker should provide IDR in several pairs, etc. You also want a broker that supports other markets, such as crypto and stocks, in case you get bored with forex.
• Cost: Forex brokers are almost always commission-free, making them a lot cheaper than most other brokers. However, they are not free to use and charge both spread and other non-trading fees. Therefore, the best forex brokers in Indonesia have reasonable fees.
• Features: Lastly, you want to look at any additional features that the best brokers offer. Some have copy trading and robots, while others have amazing educational material for beginners.

Researching brokers is the bread and butter of our business. We pride ourselves in having the most accurate and up-to-date broker reviews on the internet, especially in specific jurisdictions, such as the best forex brokers in Indonesia.

Now, researching a broker is not an easy feat and we spend countless hours testing every feature and tool offered by each broker. In our opinion, there is no other way to create a complete and honest review of a broker.

In addition, after we’ve created our broker reviews, we start the process over for each market we cover. Therefore, we spent hundreds of hours researching forex brokers in Indonesia. This part of our testing was mainly focused on factors that are specific to trading in Indonesia, ie. Islamic accounts and, more importantly, the local trading laws.

While doing all this work, we collect huge amounts of data on each broker. This data is later used as the foundation for our recommendations of the best forex brokers in Indonesia.