In this article, we will talk about 5 best Forex Brokers for traders in Indonesia.
What makes a Top Forex Broker in Indonesia?
To rank as a top Forex Broker in Indonesia, a broker must be well-regulated and provide transparent, competitive pricing to traders in Indonesia.
Beyond regulatory compliance and pricing, our rating is based on crucial factors such as customer support, trading platforms, trade execution speed, and other essential criteria.
Based on our comprehensive research, here are the 5 best Forex Brokers in Indonesia.
Each broker brings distinct strengths that set them apart in unique ways.
Remember, this article is for informational purposes only, and you should always conduct research before investing.
1. Exness
Assets Available | 5 Asset Classes – Forex, Commodities, Stocks, Indices and Cryptocurrency. |
Regulated By | FSA, CySEC, FCA, FSCA, FSC, FCS, CMA |
No. Of Trading Platforms | 3 Trading Platforms – MetaTrader 4, MetaTrader 5 and Exness trader app |
Leverage | Up to 1:2000 |
Spreads | From 0.0 pips |
Commission | From 0% |
Min Deposit | $10 |
Demo Account | Yes |
Education Provided | Educational videos and articles |
Methods of Payment | Bank cards, global electronic payment systems, and local payment methods |
Open Account |
Exness is one of the best brokers for traders in Indonesia. Exness offers an unbeatable combination, low trading costs paired with the flexibility to increase your leverage as needed.
The Exness broker was founded in 2008 and is headquartered in Cyprus.
This broker is regulated by several financial authorities, including the Cyprus Securities and Exchange Commission (CySEC).
Exness broker offers traders with 4 main account types for live trading in the markets.
These are standard account, pro account, zero account, and raw spread account. These accounts are available as Swap-Free alternatives, potentially relevant for traders in Indonesia seeking compliance with Islamic finance guidelines.
The commission and spreads vary based on the account type.
For Standard and Pro accounts, there’s no commission charged. The spreads start from 0.2 pips for Standard account and 0.1 pip for Pro account.
If you’re using the Zero or Raw Spread accounts, spreads starts at 0.0 pips.
The Zero account charges a commission starting at $0.05 per side per lot, while the Raw Spread account can go up to $3.50 per side per lot.
The Exness broker provides traders with 3 main trading platforms. These are the Exness trader app, MetaTrader 4 and MetaTrader 5 trading platforms.
This broker provides leverage of up to 1:2000 or higher on select instruments, with levels varying by asset class.
When it comes to customer support, Exness broker provides traders with 24/7 customer support.
Traders can contact the Exness broker through phone, email, and live chat.
To start trading with the Exness broker, you only need a minimum deposit of $10 which is applicable only for the standard account.
To trade with other account types, you require a minimum deposit of $200.
If you are interested in learning more about the Exness broker, check our full review here or watch the video below.
2. BlackBull Markets
Assets Available | 6 Asset Classes – Forex, Commodities, Equities, Indices, Metals and Cryptocurrencies. |
Regulated By | FMA, FSA |
No. Of Trading Platforms | 6 main trading platforms – TradingView, MetaTrader 4, MetaTrader 5, cTrader, BlackBull CopyTrader and BlackBull Invest |
Leverage | Up to 1:500 |
Spreads | From 0.0 pips (depends on account type) |
Commission | From 0% (depends on account type) |
Min Deposit | $0 |
Demo Account | Yes |
Education Provided | Provides basic education including trading tutorials, webinars, etc |
Methods of Payment | Visa, Mastercard, Bank Transfer, Airtm, Crypto, Neteller, Skrill, HexoPay, AMEX, SEPA, Poll, PaymentAsia, Help2Pay, FXPay, FasaPay, China Union pay, Boleto, Beeteller, AstroPay |
Open Account |
BlackBull Markets is another well rated broker for traders in Indonesia.
BlackBull Markets was established in 2014 and is headquartered in Auckland, New Zealand.
The BlackBull markets broker is regulated by several financial authorities, including the top tier Financial Markets Authority (FMA).
The BlackBull markets broker provides traders with a range of trading platforms. These include the popular TradingView trading platform and the MetaTrader 5 trading platform.
The BlackBull markets broker offers traders with 3 main account types for live trading. These are ECN standard account, ECN prime account and the Prime+ account. All of these accounts can be converted into Islamic versions upon request for traders in Indonesia.
For the ECN Standard account, spreads begin at 0.8 pips with no commission fees. The ECN Prime account offers spreads starting from 0.0 pips and charges a commission of $3 per side. Meanwhile, the Prime+ account features spreads starting as low as 0.0 pips with a commission of $3 per side.
Customers of BlackBull Markets can access 24/7 support. The broker’s support team is available by phone, email, and live chat.
The BlackBull markets broker provide traders with a leverage of up to 1:500.
To open an account with the BlackBull markets broker, you don’t require a minimum deposit. If you are interested in learning more about the BlackBull Markets broker, check our full review here or watch the video below.
3. Fusion Markets
Assets Available | 5 Asset Classes – Forex, Crypto, Stocks, Commodities, Indices. |
Regulated By | ASIC, VFSC |
No. Of Trading Platforms | 4 Trading Platforms – TradingView, MT4, MT5, cTrader |
Leverage | Up to 1:500 |
Spreads | From 0.0 pips |
Commission | From $0 |
Min Deposit | $0 |
Demo Account | Yes |
Education Provided | Educational Blog |
Methods of Payment | Credit/Debit Cards, Bank Wire Transfer, Neteller, Skrill, PayPal, etc. |
Open Account |
Fusion Markets is a reputable forex broker for traders in Indonesia that offers competitive, low-cost trading.
The Fusion Markets broker was founded in Melbourne, Australia in 2017.
Fusion Markets operates under regulation by ASIC, the Australian Securities and Investments Commission.
This broker provides traders in Indonesia with 3 different account types for live trading. These are the zero account, the classic account and the fusion pro account. Additionally, Fusion Markets offers a dedicated Swap-Free Account for Islamic traders.
For the Zero account, the spreads start from 0.0 pips and the commission charged is $2.25 per side.
For the Classic account, the spreads start from 0.9 pips and no commission is charged.
For the Swap-Free account, the spreads start from 1.4 pips for EUR/USD pair with zero commissions charged.
The Fusion Markets broker provides traders a range of trading platforms.
These are TradingView, MetaTrader 4, MetaTrader 5 and cTrader trading platform.
When it comes to customer service and support, Fusion Markets offers traders with 24/7 customer support.
Traders can contact the Fusion Markets support team via email, phone, or live chat.
The Fusion Markets broker provides traders with a leverage of up to 1:500 depending on the financial instrument you are trading.
To open an account with the Fusion Markets broker, you do not require a minimum deposit.
If you are interested in learning more about the Fusion Markets broker, check our full review here or watch the video below.
4. AvaTrade
Assets Available | 7 Asset Classes – Forex, Crypto, Stocks, Commodities, Indices, ETFs, bonds. |
Regulated By | ASIC, FSCA, FSA, ADGM, FRSA, ISA, CySEC, CBI |
No. Of Trading Platforms | 8 Trading Platforms – TradingView, MT4, MT5, AvaOptions, AvaSocial, DupliTrade and ZuluTrade |
Leverage | Up to 1:400 |
Spreads | Around 0.9 for Majors |
Commission | 0% |
Min Deposit | $100 |
Demo Account | Yes |
Education Provided | Trading courses provided |
Methods of Payment | Credit/Debit Cards, Bank Wire Transfer, Neteller, Skrill, WebMoney, PayPal |
Open Account |
AvaTrade is another well rated broker for traders in Indonesia. AvaTrade broker was founded in 2006 in Dublin, Ireland.
AvaTrade holds regulatory licenses from several financial authorities, including the Central Bank of Ireland (CBI).
The AvaTrade broker offers traders in Indonesia with a range of trading platforms. These include the popular MetaTrader 4 and MetaTrader 5 trading platforms.
AvaTrade also offers a mobile trading platform called the AvaTrade Go for traders who prefer mobile trading in Indonesia.
AvaTrade also offers dependable customer support 24/5.
You can reach their support team via email, phone, or WhatsApp.
The AvaTrade broker provides traders with 2 main account types for live trading. These are the retail trader account and professional trader accounts. Both can be upgraded to an Islamic account upon request.
For the retail account, the AvaTrade broker does not charge a commission and the spreads are around 0.9 pips for the Major currency pairs.
The maximum leverage provided by the AvaTrade broker is up to 1:400 for traders.
To start trading with the AvaTrade broker, you require a minimum deposit of $100.
If you are interested in learning more about the AvaTrade broker, check our full review here or watch the video below.
5. IC Markets
Assets Available | 7 Asset Classes – Forex, Commodities, Indices, Bonds, Crypto, Stocks, Futures |
Regulated By | ASIC, CySEC, FSA |
No. Of Trading Platforms | 4 Trading Platforms – MetaTrader 4, MetaTrader 5, cTrader and TradingView. |
Leverage | Up to 1:500 |
Spreads | From 0.0 pips |
Commission | From 0% |
Min Deposit | $200 |
Demo Account | Yes |
Education Provided | Trading courses provided |
Methods of Payment | Credit Card/Debit Card, PayPal, Neteller, Skrill, Wire transfer, BPay, Broker to Broker, RapidPay and Klarna |
Open Account |
The IC Markets broker is also another well-rated broker for traders in Indonesia.
The IC Markets broker was founded and headquartered in Sydney, Australia in 2007.
IC Markets holds regulatory licenses from multiple financial authorities, including ASIC in Australia.
The IC Markets broker provides 3 different account types for live trading.
These are the raw spread cTrader/TradingView, raw spread MetaTrader and standard account. Indonesian traders can convert any of these to a Islamic version by selecting the option during registration or contacting support.
For the Raw spread accounts the spreads starts from 0.0 pips but for the standard account the spreads starts from 0.8 pips.
For the standard account, there are no commissions charged. For the raw spread cTrader/TradingView account, the commission charged is $3 per lot per side and for the raw spread MetaTrader account, the commission charged is $3.5 per lot per side.
This broker offers 5 main trading platforms. These are, MetaTrader 4, MetaTrader 5, cTrader and TradingView trading platform.
The IC markets broker provides traders with 24/7 customer support. Similar to the previous brokers, you can contact the IC markets support through phone, email and live chat.
This broker provides a maximum leverage of up to 1:500.
To start trading with the IC Markets broker, traders require a minimum deposit of $200.
If you are interested in learning more about the IC Markets broker, check our full review here or watch the video below.
Our Evaluation Methodology
We assess brokers through a comprehensive rating system that involves examining more than 100 data points across key categories. Our approach includes the following:
- Trust and Regulation – We verify each broker’s regulatory status and licenses to ensure they operate under the supervision of credible financial authorities, ideally tier 1 regulators.
- Cost Analysis – We scrutinise trading fees and compare them against industry standards by setting up and trading within live accounts.
- Platform Performance – We evaluate the trading platforms’ functionality, user interface, and available tools by conducting hands-on testing.
- Instrument Availability – We assess the diversity and range of tradable assets offered by each broker.
- Customer Service – We test the accessibility and competence of customer support by reaching out via various channels.
- Transaction Methods – We review the deposit and withdrawal options, focusing on fees and processing times.
- Account Variety – We analyze the different account types, considering their features, minimum deposit requirements, and execution methods.
- Educational Resources – We examine the quality and breadth of educational materials provided to help traders improve their knowledge and skills.
Conclusion
In this article, we talked about 5 different brokers that are great for traders in Indonesia. All these brokers are regulated and provide great features for traders in Indonesia.
