Forex

Indonesian Forex Brokers

 

 

Indonesia has become very popular among FX brokerages lately as an important emerging market in the South-East Asia. Previously, there was a ban on international Forex broker operating in Indonesia, as many traders became victims of scams. Now that the ban is lifted, locals have a much wider choice, yet it’s 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. Nonetheless, 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 brokerage house must hold a BAPPEBTI license. Besides, local brokers can only obtain liquidity and trading lines via local and registered market makers.

 

Another authority that has certain functions and responsibilities with regards to forex brokers in Indonesia is the National Bank Indonesia. It has set certain reporting procedures for flows of foreign exchange as well as some prudential principles and practices.

 

Some leading global brokerages, such as FxPro, XM, FXCM and FXTM offer their services to Indonesian clients, as they have webpages in Indonesian and Bahasa-speaking customer support. Besides, FXTM and FxPro offer local bank transfers to Indonesian clients, and XM and FxPro support the most popular local e-wallet – FasaPay.



Indonesian Forex Brokers

Broker Min.deposit Country Regulation Platforms Review
$5 Cyprus CySec MT4, MT5, Web Review Website
$50 UK, Australia FCA, ASIC MT4, Web,
Mirror Trader,
Trading
Station,
NinjaTrader
Review Website
$100 UK, Cyprus FCA, CySEC MT4, MT5,
cTrader,
SuperTrader,
FxPro Markets
Review Website
$5 UK, Cyprus FCA, CySec MT4, MT5 Review Website
$1 Belize IFSC MT4, MT5, Web Review Website
$1 UK, Australia FCA, ASIC MT4, Web,
Mirror Trader
Review
$1 BVI FSC MT4 Review
$500 Indonesia BAPPEBTI MT4, MT5 Review
$500 Indonesia BAPPEBTI MT4 Review
$1 Cyprus CySec MT4, MT5 Review
$1 Indonesia BAPPEBTI MT4 Review
$1 Russia Central Bank of Russia MT4, MT5, Web Review
$1 Vanuatu N/A MT4 Review
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