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 regulated 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.
Indonesia Forex Brokers List
MAS, JFSA, DIFC