Indonesia Forex Brokers

Indonesia Forex Brokers are increasing over the past few years, as the country has become a very popular financial hub. Indonesia is considered an important emerging market in the South East Asia area. In the past there used to be a ban on international Forex broker operating in Indonesia, as many retail traders became victims of scams and fraudulent behavior. Now that the ban is lifted, residents of Indonesia  have a  wide range of brokers to choose from. However, it is best to select among FCA UK, CySec or BAPPEBTI regulated brokers.

BAPPEBTI (the Badan Pengawas Perdagangan Berjangka Komoditi) is the Indonesian Commodities and Futures Trading Regulatory Authority. It operates under the supervision of the Indonesian Ministry of Finance and is in charge of the operation of various financial institutions.

As the regulatory system for the financial services sector in Indonesia is still in its infancy, there isn’t a formal set of guidelines for financial service providers. Despite that, BAPPEBTI Forex brokers must operate in accordance with Sharia law, as the country is predominantly Muslim. Also, in order to have an office in Indonesia, a broker must hold a BAPPEBTI license. In any case, local brokers can only obtain liquidity and trading lines through local and registered market makers. Another regulatory authority that has certain functions and responsibilities with regards to forex brokers in Indonesia, is the National Bank Indonesia. It has specific reporting procedures in place for flows of foreign exchange as well as some prudential principles and practices.

 

Here is a list of Indonesia Forex Brokers

 

Rank
Broker
Regulation
Min. Deposit
Min. Spread
Start Trading
1
Fxtm
FCA, CySec, FSB
$5
0.1
Open Account
Review
2
Avatrade
CySec, FCA
$100
2.1
Open Account
3
Plus500
FCA, Cysec
$100

0.7
Open Account
4
Easymarkets
CySec, ASIC
$100

0.8
Open Account
5
24option
CySec
$100
2.1
Open Account
6
Markets.com
CySec,FSB
$100
1.7
Open Account
7
Etoro
CySec,FCA,ASIC
$200
0.6
Open Account
8
Ufx
CySec
$500
0.5
Open Account
9
Cityindex
FCA
$100
1.8
Open Account
10
Forex.com
FCA
$250
1.8
Open Account
11
Fxcm
FCA,ASIC,NFA
$100
1.4
Open Account
12
XM
FCA,CySec,ASIC
$100
2
Open Account
13
Exness
CySec,ASIC
$100
0.9
Open Account
14
Fbs
CySec,IFSC
$1
0.9
Open Account
15
Etx capital
FCA
$100
0.9
Open Account
16
FXPro
FCA,CySec
$100
0.7
Open Account
17
HYCM
FCA,CySec
$100
1.9
Open Account
18
IronFX
FCA,CySec
$100
2.2
Open Account
19
ATFX
FCA,CySec,ASIC
$100
0.8
Open Account
20
Alpari
FCA,CySec,IFSC
$100
0.3
Open Account
21
IQ Options
CySec
$100
1.2
Open Account
22
Libertex
CySec
$100
0.6
Open Account
23
AAA Trade
CySec
$100
0.5
Open Account
24
AETOS
CySec
$100
1
Open Account
25
Q8 trade
CMA
$100
1
Open Account