Best Forex Brokers Indonesia for 2023
Trading forex (currencies) in Indonesia is popular among residents. While recommended, forex brokers are not required to become authorised by the Financial Services Authority of Indonesia to accept residents of Indonesia as customers.
The Financial Services Authority of Indonesia is the financial regulatory body in Indonesia. The Indonesian translation of FSA is Otoritas Jasa Keuangan or OJK.
The Financial Services Authority of Indonesia was established in 2011. For a historical breakdown, here's a link to the Financial Services Authority of Indonesia webpage on Wikipedia.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Best Forex Brokers Indonesia
To find the best forex brokers in Indonesia, we created a list of all brokers that list Indonesia as a country they accept new customers from. We then ranked brokers by their Overall ranking.
Here is our list of the best forex brokers in Indonesia:
- FOREX.com - Excellent all-round offering
- XTB - Great research and education
- FXCM - Excellent trading platforms and tools
Indonesia Forex Brokers Comparison
Compare Indonesia authorised forex and CFDs brokers side by side using the forex broker comparison tool or the summary table below. This broker list is sorted by the firm's ForexBrokers.com Overall ranking.
|Company||Accepts ID Residents||Average Spread EUR/USD - Standard||Minimum Deposit||Overall Rating||Visit Site|
|FXCM||1.38||Starts from $50|
|FP Markets||1.2||$100 AUD||
|Libertex (Forex Club)||N/A||$10|
How to Verify FSA Authorisation
Unfortunately, the FSA does not provide a list of authorized forex brokers; however, residents can contact the FSA directly to verify authorisation.
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2023 Review Methodology
At ForexBrokers.com, our reviews of online forex brokers and their products and services are based on our collected data as well as the observations and qualified opinions of our expert researchers. Each year we publish tens of thousands of words of research and detailed forex guides, and we monitor dozens of international regulator agencies (read more about how we calculate Trust Score here).
Our research team conducts thorough testing on a wide range of features, products, services, and tools (collecting and validating thousands of data points in the process). We test all available trading platforms for each broker – whether they are proprietary or come from third-party providers – and evaluate them based on a host of data-driven variables.
We also take an in-depth look at each broker’s commissions and fees, such as bid/ask spreads – including the average spread data for some of the most popular forex currency pairs. We research other trading costs, such as inactivity or custody fees, minimum deposit requirements, VIP rebates and/or discounts, and a range of other important fee-based data points.
Some of the other important research categories that are factored into our testing include mobile trading accessibility and capability, availability of market research and educational content, and each broker’s overall Trust Score.
Read our full explanation and accounting of our research and testing process to learn more about how we test.
Forex Risk Disclaimer
There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Read more on forex trading risks.