The Best Forex Brokers and Platforms in Indonesia

Here is the list of the best Forex Brokers in Indonesia for beginners and professionals traders. We offer only proven Brokers and Trading Platforms!

Forex trading is still a rather new concept to most people in Indonesia. Yet, there are a multitude of great forex brokers in Indonesia and, on the following page, we have listed all of the top ones.

Here you can find the best trading platform, best free forex broker, and the best mobile forex broker in Indonesia.

Best Forex Brokers in Indonesia

eToro
FOREX.COM
IG Markets

Spread on Amazon

0.09%

Depend on market

Min. $2

Commission

Depend on asset

Withdrawal Fee

€25

0

0%

Minimum Deposit

€100

$250

$250

Time to Withdraw

1 Day

1-3 Days

1-3 Days

How Many Stocks

1,000+

220 (as CFDS)

12,000+

Platform

eToro + eToroX

Forex/MT4

MetaTrader 4 + DMA

Mobile App

24/7 Support

Regulation

CySEC

Cysec, FCA

ASIC

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs

Best Forex Brokers 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.

Best Free Forex Trading Platforms in Indonesia

IG Markets
FOREX.COM
AvaTrade

Spread on Amazon

Min. $2

Depend on market

1 pips

Commission

Depend on asset

Withdrawal Fee

0%

0

€0

Minimum Deposit

$250

$250

€100

Time to Withdraw

1-3 Days

1-3 Days

1+ Day

How Many Stocks

12,000+

220 (as CFDS)

90

Platform

MetaTrader 4 + DMA

Forex/MT4

MT4, MT5 & AvaTradeGo

Mobile App

24/7 Support

Regulation

ASIC

Cysec, FCA

Central Bank of Ireland

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs

Best Free Forex Trading Platforms in Indonesia

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.

Best Forex Brokers with Low Minimum Deposit in Indonesia

IBRK
AvaTrade
FOREX.COM

Commission

Depend on asset

Withdrawal Fee

1 free withdrawal/month

€0

0

Minimum Deposit

€100

€100

$250

Time to Withdraw

3 days

1+ Day

1-3 Days

Mobile App

24/7 Support

Regulation

FCA

Central Bank of Ireland

Cysec, FCA

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs

Best Forex Brokers with Low Minimum Deposit in Indonesia

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.

Best Forex Trading Platforms for Beginners in Indonesia

AvaTrade
eToro
FOREX.COM

Spread on Amazon

1 pips

0.09%

Depend on market

Commission

Depend on asset

Withdrawal Fee

€0

€25

0

Minimum Deposit

€100

€100

$250

Time to Withdraw

1+ Day

1 Day

1-3 Days

How Many Stocks

90

1,000+

220 (as CFDS)

Platform

MT4, MT5 & AvaTradeGo

eToro + eToroX

Forex/MT4

Mobile App

24/7 Support

Regulation

Central Bank of Ireland

CySEC

Cysec, FCA

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs

Best Forex Trading Platforms for Beginners in Indonesia

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).

Best Copy Trading Forex Brokers in Indonesia

IG Markets
FOREX.COM
AvaTrade

Spread on Amazon

Min. $2

Depend on market

1 pips

Commission

Depend on asset

Withdrawal Fee

0%

0

€0

Minimum Deposit

$250

$250

€100

Time to Withdraw

1-3 Days

1-3 Days

1+ Day

How Many Stocks

12,000+

220 (as CFDS)

90

Platform

MetaTrader 4 + DMA

Forex/MT4

MT4, MT5 & AvaTradeGo

Mobile App

24/7 Support

Regulation

ASIC

Cysec, FCA

Central Bank of Ireland

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs

Best Forex Brokers for PCs in Indonesia

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.

What Makes a Good Forex Broker & Platform 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.

How we Research the Forex Brokers

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.

Tested Platforms & Brokers - And By Who
  • eToro
  • Markets.com
  • 24Option
  • IQ Option
  • BDSwiss
  • HotForex
  • Trade.com
  • Libertex
  • Plus500
  • XTB
  • InstaForex
  • IG Markets
  • GKFX
  • LionsFX
  • Valutrades
  • XM
  • IronFX
  • Blackwellglobal
  • FPmarkets
  • Amana Capital
  • Admiral Markets
  • Alvexo
  • Bizintra
  • Pepperstone
  • Windsorbrokers
  • HYCM
  • ForexTime
  • FXPro
  • FXGrow
  • AAAtrade
  • Markets
  • IFC
  • iForex
  • FXCM
  • Markets
  • CMC
  • LCG
  • Forex.com
  • Oanda
  • FXCC
  • Finmaxbo
  • Marketscube
  • Trader.online
  • Teletrade
Adam Jarfjord
Senior Editor
With several years of experience writing financial copy combined with an avid interest in forex trading, Adam possesses a superb understanding of the industry.

FAQs

Is forex trading legal in Indonesia?
Yes, forex trading is legal in Indonesia. Although the market is tightly regulated and trading has to be offered according to Sharia law, ie. through Islamic trading accounts. Now, there is no requirement for Indonesians to use these accounts, but they are prefered by many.
Can I trade forex with $10 in Indonesia?
Technically, yes, you can trade forex with $10 in Indonesia. However, to verify and activate your trading account when first opened, you have to meet the minimum deposit level set by each broker. The lowest minimum deposit set by any reputable broker in Indonesia today is $100. So to answer the question: yes, you can trade with $10, but you have to deposit more than that the first time you trade.
Is forex good for beginners?
This is a difficult question to answer. All forms of trading and investments are associated with substantial risks. Naturally, those risks are even more substantial for beginners. Also, all forms of trading are very complicated, and forex trading is no exception. Therefore, no market is more beginner-friendly than others. As a beginner forex trader, we suggest you check out our recommendations of the best forex brokers for beginners in Indonesia above.
How much do forex traders make a day?
Again, this isn’t easy to answer since day traders aren’t making a fixed amount a day. The amount of profit a day trader makes is also affected by the amount they’re trading with, current market movements, as well as a bit of skill and luck. With that said, the definition of a day trader is someone who lives off of trading, ie. someone who makes long-term profits that they use as income.
How difficult is forex?
Forex trading is very difficult, there is no denying that. Learning how to trade forex efficiently takes a lot of time and practise. And still, there is never a guarantee that you will ever make it. Therefore, you need to respect the process and be willing to put in the necessary effort if you want to start trading forex in Indonesia.
How much do forex brokers charge?
This differs quite a bit from broker to broker. All online forex brokers in Indonesia make a profit by charging a spread on each position that’s opened and closed. Furthermore, there are often non-trading fees, such as inactivity fees, overnight fees, etc. With that said, forex brokers do not charge commission and are, therefore, often cheaper to trade with than a regular stockbroker, for example.
Can you trade forex without a broker?
No, you need a forex broker to access the forex market. You see, the forex market is a global, decentralised market, which you cannot access without a forex broker. Now, you wouldn’t want to trade without a broker since they provide you with all the tools you need to make a profit. Therefore, it’s not an issue that you can’t trade forex without a broker in Indonesia.

Conclusion

Indonesia’s forex market is still in its cradle. However, with less strict regulation, an influx of brokers have reached the country and the forex market is steadily growing.

In the post above, we’ve shared all the best forex brokers in Indonesia and we hope you have a better understanding of which brokers dominate the markets.

As always, you can read more about each broker in their specific reviews.

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