If you’re looking for the best forex brokers in Indonesia, then you’re in the right place because we have compiled a list of the best forex brokers for you.
This guide aims to help you choose a broker that meets your trading needs, leaving you to focus on what matters, which is profitability in forex markets.
Ranking Methodology – While we ranked the brokers, some crucial factors that influenced our judgments are regulatory compliance, product offering, execution, assets, trading cost (trading and non-trading fees), trading platforms, research, education, and customer support service.
Table of Contents
Best Forex Brokers In Indonesia 2022
Following our review and ranking process, here are the best forex brokers in Indonesia;
- IG
- IC Markets
- Tickmill
- FBS
- Exness
1. IG
IG is a highly reputable global online broker and one of the largest CFD providers in the world in terms of revenue and trade volume. It was established in 1974 by IG Group plc, a publicly-traded company on the London Stock Exchange and a constituent of the FTSE 250 Index.
IG offers spread betting, stockbroking, and CFD trading across a wide variety of global markets, including forex, shares, indices, commodities, cryptocurrencies, options, bonds, interest rates, sectors, and ETFs with over 18,000+ instruments to trade.
Along with access to a wide array of global markets, you can also enjoy exceptional brokerage services such as deep liquidity, superior trade execution, volume-based rebates, sophisticated trading platforms, expert customer support service, and much more.
IG’s ease of use, advanced trading tools, range of markets, research, and rich education offering, make it an excellent broker for both beginner and professional traders. Also, active and high-volume traders are welcomed with exceptional trading conditions and volume-based rebates, which can help keep trading costs down.
IG Overview
| Broker | IG |
|---|---|
| Regulation | CFTC, FCA, ASIC, FCA, FINMA, FMA, MAS, FSA, FSCA, DFSA, and BMA. |
| Forex Pairs | 81 Currency Pairs |
| Trading Platforms | ProRealTime, L2 Dealer, MetaTrader 4 |
| Minimum Deposit | $300 |
| Demo Account | Available | Open Demo Account |
| Maximum Leverage | 1:222 1:30 (for ESMA clients) |
| Account Currencies | USD, GBP, AUD, EUR, SGD, HKD. |
| Payment Methods | Bank Wire Transfer, Credit/Debit Cards, Paypal |
| Trading Tools | APIs, Virtual Private Server (VPS) |
Pros
- Strong regulatory framework.
- It is listed on the stock exchange.
- 45+ years of industry experience.
- 313,000+ clients worldwide.
- Deep liquidity.
- Volume-based rebates for high-volume traders.
- No minimum deposit for bank transfers.
- Industry-standard trading platforms.
- Low forex trading fee
- Excellent educational offering for beginner, intermediate and advanced traders.
- Outstanding research offering.
- Excellent customer support service.
- Accepts US clients.
Cons
- Inactivity fee charged (after two years of inactivity).
- Offers only forex trading in the United States.
- No copy/ social trading platform.
2. IC Markets
IC Markets is a leading global online broker and one of the world’s largest forex providers by trade volume, with over 29 Billion USD in FX trades processed daily. It offers CFDs on various global markets, including forex, stocks, commodities, indices, cryptocurrencies, bonds, and futures, with over 2250+ instruments to trade.
With IC Markets, you can enjoy a plethora of top-notch trading services, including transparent pricing, low trading & non-trading fees, consistent ultra-low spreads from 0.0 pips, fast trade executions, low slippage, deep liquidity, advanced trading platforms & tools, and 24/7 customer support service.
IC Market’s ease of use, and excellent trading conditions, make it a suitable broker for traders of all experience levels. IC Markets also provides adequate support for various trading strategies, such as hedging, scalping, and algorithmic trading. Likewise, Its unique trading conditions, such as ultra-low trading fees, fast execution, and deep liquidity, make it an excellent choice for active and high-volume traders.
IC Markets Overview
| Broker | IC Markets |
|---|---|
| Regulation | ASIC, FSA, and CySEC. |
| Forex Pairs | 61 Currency Pairs |
| Trading Platforms | MetaTrader 4, MetaTrader 5, cTrader |
| Minimum Deposit | $200 or currency equivalent. |
| Demo Account | Available | Open Demo Account |
| Maximum Leverage | 1:500 |
| Account Currencies | AUD, USD, EUR, CAD, GBP, SGD, NZD, JPY, HKD, CHF. |
| Payment Methods | Credit and debit cards, Paypal, Neteller, Neteller VIP, Skrill, UnionPay, Wire Transfer, Bpay, FasaPay, Broker to Broker, POLI, Rapidpay, Thai internet banking, Vietnamese internet banking |
| Trading Tools | Virtual Private Server (VPS), Trading Servers, MT4 Advanced Trading Tools |
Pros
- Quick account setup.
- Strong regulatory framework.
- Over 180,000+ clients across 190 countries worldwide.
- Multiple industry standard trading platforms in web, mobile and desktop versions.
- Deep liquidity.
- Clients’ funds are segregated.
- Over 61 currency pairs to trade, including major, minor and exotic currency pairs.
- Flexible leverage from 1:1 to 1:500.
- Fast trade execution.
- Supports all trading styles and strategies.
- Offers swap-free account.
- Low trading fees across all account types.
- Ultra-low spreads from 0.0 pips on IC Markets’ Raw Spread accounts.
- Multiple fast and secure payment methods.
- The demo account has an unlimited usage duration.
- No inactivity fee is charged.
- Excellent customer support service.
Cons
- Its product offering is limited to forex and CFDs.
- No proprietary trading platform is offered.
3. Tickmill
Tickmill is a leading global online broker established in 2015 by Tickmill Group. It offers a variety of global markets, including forex, stocks, indices, oil, precious metals, bonds, and cryptocurrencies, with over 260+ instruments to trade.
Some advantages of trading with Tickmill include; deep liquidity, competitive spreads and commissions, fast trade execution, support for all trading strategies, industry-standard trading platforms, multiple fast and secure payment methods, and excellent customer support service.
Tickmill is suitable for beginners and professional traders. It also offers multiple account types, which traders can choose from to enjoy a unique trading experience. High-volume traders are also provided with a VIP account which comes with greater benefits, although to gain access, you must maintain a minimum account balance of $50,000.
Tickmill Overview
| Broker | Tickmill |
|---|---|
| Regulation | FCA, CySEC, FSCA, LFSA, FSA, BaFin, CONSOB, ACPR, CNMV. |
| Forex Pairs | 64 |
| Trading Platforms | MetaTrader 4, MetaTrader 5 |
| Minimum Deposit | $100 |
| Demo Account | Available | Open Demo Account |
| Maximum Leverage | 1:500 |
| Account Currencies | USD, EUR, GBP, PLN |
| Payment Methods | Bank Wire Transfer, Credit/ Debit Cards (MasterCard, VISA), Skrill, Neteller, SticPay FasaPay, UnionPay, NganLuong.vn Qiwi, WebMoney |
Pros
- Strong regulatory framework.
- Hassle-free account registration process.
- Deep liquidity.
- Fast trade execution
- Offers a variety of asset classes.
- Over 64 currency pairs, including major, minor and exotic pairs.
- Multiple account types.
- High Leverage (up to 1:500).
- Supports all trading strategies.
- Industry-standard trading platforms in web, mobile, and desktop versions.
- Competitive spreads and commissions.
- Great education and research offering.
- Excellent customer support service.
Cons
- No proprietary trading platform.
4. FBS
FBS is a global award-winning online broker established in 2009. It has maintained a tremendous reputation amongst traders over the years and has amassed a huge client base of over 23 million active traders in 190+ countries worldwide.
FBS offers CFDs across various global markets, including forex, stocks, indices, metals, energies, and cryptocurrencies, with over 150 instruments available to trade.
Some of the outstanding benefits you can enjoy with this broker include fast order execution, deep liquidity, industry-standard trading platforms, low trading fees, low minimum deposit from $1, multiple tailored account types, multiple fast & secure payment methods, high leverage (up to 1:3000) and an excellent 24/7 customer support service.
FBS offers an all-around trading solution that accommodates traders of all experience levels and traders with different capital sizes. Traders with low capital are welcomed with low minimum deposits and trading fees, while high-volume traders, on the other hand, can save a lot of money with their low trading fees.
FBS Overview
| Broker | FBS |
|---|---|
| Regulation | IFSC (Belize), CySEC (Cyprus), ASIC (Australia), FSCA (South Africa) |
| Forex Pairs | |
| Trading Platforms | FBS Trader, MetaTrader 4, MetaTrader 5 |
| Minimum Deposit | Cent Account – $1 Micro Account – $5 Standard Account – $100 Zero Spread Account – $500 ECN Account – $1000 Crypto Account – $1 |
| Demo Account | Yes |
| Maximum Leverage | Cent Account – 1:1000 Micro Account – 1:3000 Standard Account – 1:3000 Zero Spread Account – 1:3000 ECN Account – 1:500 Crypto Account – 1:5 |
| Account Currencies | USD, EUR |
| Payment Methods | Bank Wire Transfer, Credit Card, Debit Card, Perfect Money, WebMoney, cashU, Neteller, UnionPay, Skrill, OkPay, FasaPay, Local Deposits, SticPay |
| Trading Tools | Economic Calendar, Forex Calculators, Currency Convertors |
Pros
- Strong regulatory framework.
- Over 23 million active traders in 190+ countries worldwide.
- Low minimum deposit (from $1).
- Fast order execution.
- High Leverage (up to 1:3000).
- Low forex-trading fees.
- Multiple account types.
- Fast and secure payment methods.
- Industry-standard trading platforms.
- Great bonuses and contests for traders.
- Excellent customer support service.
Cons
- Its product offering is limited to CFDs.
5. Exness
Exness is a global, award-winning online broker established in 2008 by Nymstar Limited, a global brand popularly known for its partnership with Real Madrid. It has a huge client base of over 350,000+ active traders and is known to be one of the largest forex brokers in the world, with a massive monthly trade volume of over $2.7 Trillion.
With Exness, you can trade CFDs across various global markets, including forex, indices, metals, cryptocurrencies, energies, and stocks, with over 1200+ instruments to trade.
Some of the outstanding brokerage service traders can enjoy with Exness includes deep liquidity, fast trade execution, industry-standard trading platforms, high leverage (up to 1:3000), low forex trading fee, multiple fast & secure payment methods, instant fund withdrawal, free VPS hosting and excellent customer support service.
Exness is great for beginners and professional traders. It also offers a range of account types with excellent trading conditions, which makes it easy for traders to find an account that suits their trading style or needs.
Exness Overview
| Broker | Exness |
|---|---|
| Regulation | FCA (United Kingdom), CySEC (Cyprus), FSA (Seychelles), CBCS, FSC(BVI), FSCA (South Africa) |
| Forex Pairs | 120+ |
| Trading Platforms | Metatrader 4, Metatrader 5 |
| Minimum Deposit | $1 |
| Demo Account | Available | Open Demo Account |
| Maximum Leverage | 1:Infinity |
| Account Currencies | AUD, USD, GBP, EUR, SGD, CAD |
| Payment Methods | Bank Wire Transfer, Credit/ Debit Cards, Skrill, Neteller, WebMoney, PerfectMoney, Bitcoin, Tether |
Pros
- Strong regulatory framework.
- Deep liquidity.
- Negative balance protection
- Hassle-free account opening process.
- Multiple industry standard trading platforms in web, mobile, and desktop versions.
- Over 120+ currency pairs, including major, minor and exotic currency pairs.
- High leverage (up to 1:3000).
- Multiple tailored account types.
- Low forex trading cost.
- Offers the highest forex leverage in the industry.
- Multiple fast and secure payment methods.
- Offers instant withdrawals.
- Excellent customer support service.
Cons
- Its product offering is limited to CFD trading only.