Best Forex Brokers To Trade With in Indonesia for 2021

Forex Brokers in Indonesia, one of the most emerging markets in South East Asia, are increasing as the country is showing great potential as a financial hub. Despite the fact that forex trading is no longer illegal in Indonesia, the concept is relatively new and the market is still very young. Officially, forex brokers operating in this country are not regulated. 

Forex trading is not exactly legal in Indonesia, but is considered a grey area. Local residents are advised to trade with a broker who is authorized and regulated by the Financial Services Authority of Indonesia, also known in the local language as Otoritas Jasa Keuangan (OJK) –

If you want to learn more about forex trading and how it works , click here to visit our Beginners Guide to Forex.

Featured Forex Brokers

We decided to do all the hard work for you and guide you through the all the noise of the financial betting market. Our team of expert analysts, has created a unique collection of forex broker reviews, based on various criteria and data points for you to choose from.



IC Markets


Forex Regulation in Indonesia

The OJK , is the regulatory body for all financial services and activities in Indonesia. The OJK is a national self-regulatory organization that was first established i 2011 to replace the role of Bapepam-LK in regulating and supervising the capital market and financial institutions and to protect consumers of financial services industry. Nevertheless, it is not required to get authorization from the OJK in order to offer financial services and forex trading to the residences of Indonesia.

However, it is advised to choose a regulated broker with a Tier 1 license like Cysec, FCA, FSCA or ASIC to make sure your funds are protected.

Best Forex Brokers In Indonesia

Here is a breakdown of the best forex brokers to trade with in Indonesia:

  • XMLow trading Cost, Islamic Account Available
  • FP Markets – Best Execution and trading conditions
  • GlobeX360Best Islamic Broker
  • IQOptionBest Performance Overall
  • AvatradeGreat Trading Platform. Good for new traders
  • Etoro – Best Copy Trading Platform
  • Octafx – Great Customer Support
  • OlympTrade – Best Mobile Trading App

Broker Comparison List In Indonesia


All brokers listed on our website are regulated by at least one financial regulator and have never been reported as a scam. We analyze more than 3000 data points across 8 key focus areas. 

Our reviews are a combination of data research and working along side with the brokers. All information povided by the brokers are double checked to guarantee 100% accuracy and that we remain unbiased.

Read more about our methodology and how we do our tests and reviews here.