Indonesia Forex Trading Brokers

Written by Miro Nikolov

Miro Nikolov

Miro Nikolov is the co-founder of TradingPedia.com and BestBrokers.com. His mission is to help people make profitable investments by giving them access to educational resources and analytics tools.

, | Updated: January 6, 2026

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• Jump to:
• Main features of the best Indonesia Forex brokers
• Forex Legislation
• Financial Regulators
• Payment Methods
• Trading Software
• Mobile Trading
• FAQ
›

Our team of expert traders has tested many regulated and trustworthy Forex brokers that accept traders from Indonesia and has compiled a list of the best. Each broker operating in Indonesia received a quality score based on several factors, including its Trustpilot rating, regulatory status, fees and commissions, available trading platforms, customer service and more.

1. 

   Plus500 US

   Rating: 4.0

   This content applies only to Plus500 US and clients from the United States. Trading futures involves the risk of loss.

2. 

   eToro

   Rating: 4.2

   50% of retail investor accounts lose money

3. 

   Fusion Markets

   Rating: 4.8

   74-89% of retail's CFD accounts lose money

4. 

   FP Markets

   Rating: 4.9

   73.85% of retail investor accounts lose money

5. 

   Global Prime

   Rating: 4.7

   74-89% of retail CFD accounts lose money

6. 

   Pepperstone

   Rating: 4.4

   72.9% of retail investor accounts lose money

Below is a comprehensive comparison table of Forex brokers for traders in Indonesia. We rank them based on several factors, including regulation, spreads and commissions, Trustpilot ratings, trading instruments, trading platforms and deposit and withdrawal methods.

Our team has thoroughly evaluated all brokers listed below using TradingPedia’s exclusive methodology.

Main Features of the Best Indonesia Forex Brokers

Located in Southeast Asia, the Republic of Indonesia is the world’s largest and most populous island nation. In 2018, it had a population of 264.2 million and comprised more than 17,000 islands, of which Java is the most densely populated.

The country has one of the fastest-growing economies in the region and well-developed private and public sectors. In 2018, its GDP stood at US$1,022.45 billion, and it is projected to increase to US$1,596.01 billion by 2024.

Indonesia also has vast natural-resource reserves, which help drive its economy forward. Its biggest exports include commodities such as natural gas, oil, rubber, copper, plywood, tin and gold. Electronic equipment, fuels and chemicals are among Indonesia’s chief imports.

Given the recent rapid economic growth, it is not surprising that Indonesia has become an attractive destination for foreign exchange companies worldwide. The country’s demographic composition further enhances this appeal.

With a median age of just over 28 years, according to 2016 estimates, Indonesia has a large population of young, capable and eager citizens seeking additional opportunities to earn profits and gain financial independence. This creates an ideal environment for a thriving Forex market.

The local foreign exchange market lacked adequate regulation from the early 2000s to 2012. As a result, that decade was highly profitable for both brokerages and investors.

Things changed in 2013 when the central bank, Bank Indonesia, cracked down on several Forex brokers for allegedly mistreating local customers. Indonesian investors lost millions because of dishonest brokerage practices during that period.

Indonesian authorities subsequently tightened the regulatory regime in an attempt to salvage the local Forex market and minimize instances of traders being swindled by fraudsters.

Indonesia Forex Legislation

Forex trading is legal in the archipelagic nation, which boasts a rapidly expanding market despite the tougher stance local authorities have adopted in recent years. Many industry experts believe that Indonesia could soon become one of the world’s leading Forex markets.

The choice of Indonesia-friendly brokerages was initially limited, but the authorities eventually opened the country’s doors to foreign competition. The Indonesian Forex market is now well regulated, and all brokers are expected to adhere to strict rules established by the local financial watchdogs.

These tougher regulations aim to eradicate the risks of financial fraud and ensure a safer trading environment for local investors. The website TRUST+ was specifically launched to raise awareness and assist Indonesian residents in detecting potential dishonest practices.

Offshore foreign exchange companies licensed in top-tier jurisdictions are allowed to operate in the country, although the authorities recommend trading with locally authorized firms. Nevertheless, Indonesian traders now have a much broader choice of Forex brokers.

With that said, both foreign and locally licensed brokers are still expected to comply with Indonesia’s financial laws. Since more than 87% of the country’s population profess the Muslim faith, brokers must service local traders in accordance with Sharia law.

One of the key principles in Islamic finance is the prohibition of usury; people who lend or borrow money are not allowed to charge or pay interest (riba). In the Muslim faith, interest is believed always to favor the lender at the expense of the borrower. Money is not considered an asset in itself, so Muslims cannot generate income from money alone, as would occur through interest.

Instead, the Islamic financial system operates on principles of risk sharing. Rather than lending money to a customer at a specific interest rate, an Islamic bank purchases the underlying product itself-be it an apartment, a house, a car or an electronic appliance.

Banks then lease or resell the product to the customer at a flat price, which usually exceeds its original value to compensate for the risk assumed with that client. Islamic banks realize additional profits when customers successfully repay the amount for the purchased real estate or movable property.

In line with these requirements, brokers that service the Indonesian market must offer customers the option to open so-called Islamic or swap-free accounts. Accordingly, Sharia law strictly prohibits several common aspects of standard foreign exchange trading.

Neither the brokerage nor its Indonesian customers can earn or pay interest. The customer should not be granted the chance to trade with excessive risk, as this is against Sharia business practice. Speculation and gambling are also prohibited.

Indonesian financial regulators do, however, fall short when it comes to assisting local traders who have been defrauded by unreliable brokerages; there appear to be no avenues for such customers to reclaim lost funds. Nevertheless, fraudulent trading companies are subject to investigations, prosecutions and bans.

Indonesia Financial Regulators

The main regulator in this jurisdiction is the Financial Services Authority of Indonesia, locally referred to as Otoritas Jasa Keuangan (OJK). This entity was established in 2011 after the enactment of the Law of the Republic of Indonesia Number 21. The local financial markets lacked sufficient regulation prior to the introduction of the OJK.

The new authority was created to replace Bapepam-LK in overseeing and regulating Indonesia’s financial institutions and capital markets. It also replaced Bank Indonesia in overseeing the local commercial, rural and Sharia banks. The OJK is additionally tasked with the protection of financial services consumers.

It also oversees non-bank products such as insurance and investment schemes, along with pension funds. The OJK ensures that all financial companies operating within the country are fully compliant with Sharia standards.

The regulatory body also actively seeks to limit residents’ access to certain financial instruments, such as the infamous binary options. The websites of offshore brokers that offer such products are often blocked by the Indonesian authorities.

The Indonesian Commodities and Futures Trading Regulatory Authority (locally abbreviated as BAPPEBTI) was founded in 2005 but expanded its powers nearly a decade later in 2013. It is tasked with the oversight of the derivative sector in the country.

Another goal of this authority is to safeguard Indonesian nationals from fraudulent activities and provide financial education to prospective customers. Brokers applying for local licenses undergo rigorous audits during the registration process.

They are periodically inspected to make sure they operate in compliance with Indonesia’s regulatory guidelines. Another condition set by BAPPEBTI is that locally licensed brokerages provide straightforward complaint procedures.

Indonesia Forex Payment Methods

Indonesian traders should choose only regulated Forex brokers, especially if they plan to open live accounts and trade with real money. Before you register with a Forex trading company, check its banking section to see which deposit and withdrawal options are available.

Joining a regulated broker also safeguards you against scams. A reputable company adheres to the highest standards of safety, encrypts all financial information transferred to and from its website, and segregates the money of its customers from its operational capital.

All reputable trading firms servicing this market offer Indonesian customers swap-free accounts-no interest is paid on overnight positions-in compliance with Sharia law. The exact limits and available deposit solutions are broker-specific, but the list generally includes Visa and Mastercard and, less frequently, China UnionPay. Bank Sinarmas is one of the largest Indonesian financial institutions where locals can apply for UnionPay debit cards.

Bank transfers are also commonly supported but usually require two to five business days. Many traders prefer to initiate payments online through their banks’ e-banking platforms.

An increasing number of Indonesian traders conduct their payments through online service providers like Perfect Money. This digital wallet enables secure and time-efficient online transfers, and the service is available in Indonesian.

Some Indonesia-friendly brokers support the local payment method FasaPay, which operates in Indonesia and Malaysia. It ensures quick and highly secure transactions, with payments possible in two main currencies: USD and the local IDR.

To use FasaPay, you must sign up and fund your new account balance via bank transfers, SMS banking or ATM transfers. Established brokerages that accept customers from Indonesia usually do not levy additional charges on deposits.

Popular Trading Software in Indonesia

To enjoy a seamless experience, Indonesian customers must choose a broker that implements a reliable and user-friendly trading platform. The vast majority of brokers that service customers from this location utilize the MetaTrader 4 (MT4) platform, developed by the Cyprus-based company MetaQuotes.

MT4 appeals to novice traders with its user-friendly design, while many experienced investors also favor the platform because it offers all the features required for advanced trading. The software provides customizable charts and numerous technical indicators that traders can use to analyze market trends. Chart types include lines, bars and candlesticks.

Some Indonesia-friendly brokerages have adopted the newer MetaTrader 5 (MT5) platform. MT5 offers a broader range of financial instruments beyond Forex, including options, futures, bonds and stocks, while retaining an interface similar to its predecessor.

You will experience no issues finding your way around if you are already familiar with MT4. MetaTrader 5 offers twelve additional timeframes as well as more graphical objects and technical indicators.

The Depth of Market (DoM) tool enables traders to see how much liquidity is available in a given market at a specific price. Both platforms are multilingual and support the Indonesian language. MT4 and MT5 are available for free download. Traders also have the option to use MetaQuotes’ browser-based WebTrader, which provides a similar trading experience without the need for additional software installation.

Some brokers that service the Indonesian market use proprietary platforms, so there may be significant differences in features. The best way to determine whether a platform suits you is to test it. You can open a demo account and practice to see how it works and whether the proprietary platform meets your criteria.

Mobile Trading in Indonesia

This island nation boasts one of the largest and most dynamic mobile markets in Asia. The number of smartphone users was projected to reach 90 million by 2020. Indonesians are known for their extensive use of portable devices, with many smartphone owners having several SIM cards for personal and business use.

Indonesian traders no longer need to be tied to their desktop computers to observe the latest market trends and track their open positions. All reputable Indonesia-friendly brokers offer mobile-compatible versions of their websites, ensuring a high-end trading experience on the go.

If your broker of choice uses the MetaQuotes software, you can download the dedicated MT4 or MT5 apps from Google Play or the App Store. You can register on the go or access your account with your existing sign-in credentials if you are a returning customer. The experience on a smartphone closely replicates that on desktop computers.

The apps provide you with instant access to real-time quotes for various financial instruments, including Forex. You can analyze the markets in depth with the help of customizable charts and technical indicators.

Testing new strategies on demo trades as you go is a great way to expand your trading knowledge and experience. Additionally, mobile traders from Indonesia have access to their complete trading histories and various educational tools. The majority of reputable Indonesia-friendly brokers offer mobile apps in the local language to cater to non-English-speaking customers.