| Updated: September 1, 2025An increasing number of Indonesians have begun to engage in forex trading or have shown interest in the foreign-exchange market. To ensure that these enthusiasts enjoy a fair trading environment, the Commodity Futures Trading Regulatory Agency (BAPPEBTI) and the Financial Services Authority (OJK) supervise all brokers operating in the country and require trading companies to comply with the relevant laws and regulations.
In this article we provide an overview of the Indonesian forex market, including the legal forms of forex trading, the requirements that foreign-exchange brokers must meet to accept Indonesian traders, and how to identify reliable brokerages if you reside in the country.
Below you will find our list of forex brokers suited to Indonesian traders:
Top 9 Forex Brokers in Indonesia
-
Plus500
- Multi-Level Regulated Broker
- Proprietary trading platforms
- Easy to use mobile app
Trading InstrumentsDeposit Methods- Commodities CFDs
- Crypto CFDs
- Energy CFDs
- ETF CFDs
- Forex CFDs
- Indices CFDs
- Metals CFDs
- Share CFDs
- Stock CFDs
- US Stock CFDs
-
FP Markets
- Australia and CySEC regulated broker
- MT4/MT5, TradingView, Ctrader, Iress
- EUR/USD spread from 0.0 pips
Trading InstrumentsDeposit Methods- Commodities CFDs
- Crypto CFDs
- Energy CFDs
- Forex CFDs
- Indices CFDs
- Metals CFDs
- Stock CFDs
-
Fusion Markets
- Australia regulated broker
- MT4, MT5, TradingView, Ctrader
- Leverage up to 500
Trading InstrumentsDeposit Methods- Commodities CFDs
- Crypto CFDs
- Forex CFDs
- Indices CFDs
- Metals CFDs
- Stock CFDs
-
Axi
- Raw spreads start from 0.0 pips
- Offers order execution faster than standard ECN model
- Axi Select Funded Trader Program offers funding up to $1 million
Trading InstrumentsDeposit Methods- Commodities CFDs
- Crypto CFDs
- Forex CFDs
- Indices CFDs
- Metals CFDs
- Stock CFDs
-
CMC Markets
- Provides a choice of 10,000+ trading instruments
- Supports MT4 and Next Generation (proprietary platform)
- Spreads for EUR/USD from 0.5 pips
Trading InstrumentsDeposit Methods- Commodities CFDs
- Crypto CFDs
- Energy CFDs
- ETF CFDs
- Forex CFDs
- Indices CFDs
- Metals CFDs
- Share CFDs
- Stock CFDs
- US Stock CFDs
-
Pepperstone
- Australia and CySEC regulated broker
- MT4/MT5, TradingView, Ctrader, Iress
- EUR/USD spread from 0.0 pips
Trading InstrumentsDeposit Methods- Commodities CFDs
- Crypto CFDs
- Energy CFDs
- Forex CFDs
- Indices CFDs
- Metals CFDs
- Stock CFDs
-
AvaTrade
- Minimum deposits from $100
- Licensed by 11 regulatory bodies
- Retail forex leverage of up to 1:400
Trading InstrumentsDeposit Methods- Bonds CFDs
- Commodities CFDs
- Crypto CFDs
- Crypto Options
- Energy CFDs
- ETF CFDs
- Forex CFDs
- Forex Options
- Index Options
- Indices CFDs
- Metals CFDs
- Share CFDs
- Stock CFDs
- Stock Options
- US Stock Options
-
IC Markets
- Offers 2,200+ tradable markets, including 61 currency pairs
- Leverage of up to 1:1000 in select jurisdictions
- EUR/USD spreads from 0.8 pips for standard accounts
Trading InstrumentsDeposit Methods- Commodities CFDs
- Crypto CFDs
- Energy CFDs
- Forex CFDs
- Indices CFDs
- Metals CFDs
- Stock CFDs
-
ActivTrades
- Winner of 20+ Global Awards
- MT4/MT5, TradingView
- Leverage up to 1:400
Trading InstrumentsDeposit Methods- Bonds CFDs
- Commodities CFDs
- Crypto CFDs
- ETF CFDs
- Forex CFDs
- Indices CFDs
- Share CFDs
Brokers Compared by Spread
FX Brokers Deposit Method Comparison
| Brand | Minimum deposit | |
|---|---|---|
| Plus500 |  |
$100 |
| FP Markets | |
$50 (AU$100) |
| Fusion Markets | |
$0 |
| Axi | |
$0 |
| CMC Markets |  |
$0 |
| Pepperstone | |
$0 |
| AvaTrade | |
$100 |
| IC Markets | |
$200 |
| ActivTrades | |
$0 |
Brokers by Regulator
| Brand | Maximum leverage | |
|---|---|---|
| Plus500 | |
1:300 (Pro Account), 1:30 (ASIC | Retail Account), 1:30 (BaFin | Retail Account), 1:30 (CySEC | Retail Account), 1:30 (FCA | Retail Account), 1:30 (FMA | Retail Account), 1:30 (SFSA | Retail Account), 1:30 (DFSA), 1:300 (FSAS), 1:20 (MAS), 1:300 (SCB) |
| FP Markets | |
1:500 (CySEC | Pro Account), 1:30 (ASIC | Retail Account), 1:30 (CySEC | Retail Account), 1:500 (FSAS | Retail Account) |
| Fusion Markets | |
1:500 (ASIC | Pro Account), 1:30 (ASIC | Retail Account), 1:500 (VFSC | Retail Account) |
| Axi | |
1:500 (Elite Account), 1:400 (Pro Account), 1:30 (ASIC | Retail Account), 1:30 (CySEC | Retail Account), 1:30 (DFSA | Retail Account), 1:30 (FCA | Retail Account), 1:500 (SVGFSA) |
| CMC Markets | |
1:500 (ASIC | Pro Account), 1:500 (FCA | Pro Account), 1:30 (ASIC | Retail Account), 1:30 (BaFin | Retail Account), 1:30 (FCA | Retail Account), 1:20 (MAS | Retail Account) |
| Pepperstone | |
1:500 (CySEC | Pro Account), 1:500 (SCB | Pro Account), 1:30 (ASIC | Retail Account), 1:30 (CySEC | Retail Account), 1:30 (DFSA | Retail Account), 1:30 (FCA | Retail Account), 1:200 (SCB | Retail Account) |
| AvaTrade | |
1:400 (Pro Account), 1:30 (Standard Account) |
| IC Markets | |
1:500 (CySEC | Pro Account), 1:30 (CySEC | Retail Account), 1:1000 (FSAS | Retail Account) |
| ActivTrades | |
1:400 (CMVM | Pro Account), 1:30 (CMVM | Retail Account), 1:1000 (FSC), 1:200 (SCB) |
Forex Brokers Platform Availability
| Brand | FX pairs to trade | |
|---|---|---|
| Plus500 | |
Proprietary Mobile, Proprietary Web |
| FP Markets | |
cTrader, TradingView |
| Fusion Markets | |
cTrader, MetaTrader 4, MetaTrader 5, TradingView |
| Axi | |
MetaTrader 4 |
| CMC Markets | |
MetaTrader 4, TradingView |
| Pepperstone | |
MetaTrader 4, MetaTrader 5, Proprietary Mobile, Proprietary Web |
| AvaTrade | |
MetaTrader 4, MetaTrader 5, Proprietary Web |
| IC Markets | |
cTrader, MetaTrader 4, MetaTrader 5 |
| ActivTrades | |
MetaTrader 4, MetaTrader 5, Proprietary Web, TradingView |
Comprehensive Comparison of the Best Indonesia Forex Brokers
| Brand | Min. Deposit | Trading Platforms | Spread | Regulation | Trustpilot |
|---|---|---|---|---|---|
 |
$100 |
|
AVG 1.3 pips |
|
|
 |
$50 (AU$100) |
|
AVG 1.2 pips |
|
|
 |
$0 |
|
AVG 0.93 pips |
|
|
 |
$0 |
|
AVG 0.1 pips |
|
|
 |
$0 |
|
MIN 0.5 pips |
|
|
 |
$0 |
|
AVG 1.1 pips |
|
|
 |
$100 |
|
AVG 0.8 pips |
|
|
 |
$200 |
|
AVG 0.82 pips |
|
|
 |
$0 |
|
AVG 0.5 pips |
|
Legal Forms of Forex Trading in Indonesia
The Indonesian forex market offers a broad range of opportunities, including spot trading, CFDs and futures. Traders can work with numerous currency pairs – among them IDR, USD, EUR and other majors. The market permits several forms of trading, such as spot transactions, CFDs (Contracts for Difference), futures and options.
The main characteristic of spot trading is the purchase or sale of a currency pair at the current market price, with settlement typically occurring within two business days. Most forex brokers, however, concentrate on offering CFDs on forex pairs, enabling traders to speculate on price movements without owning the underlying asset. Futures and options are also available in the Indonesian forex market, allowing traders to buy or sell a currency pair at a predetermined price on a specified future date.
Indonesian traders may also use leverage, which can amplify both gains and losses. Nevertheless, leverage is inherently risky and should be employed with caution.
The Commodity Futures Trading Regulatory Agency (BAPPEBTI) and the Financial Services Authority (OJK) regulate all forms of forex trading in Indonesia, ensuring that brokers comply with the relevant laws and regulations. These bodies also provide guidance and information to traders about the risks associated with forex trading and the importance of choosing a reliable, regulated broker.
Restrictions on Currency Trading in Indonesia
Although Indonesia permits various forms of forex trading, certain restrictions apply. For example, spread betting on currency pairs is not permitted, as it is considered a form of gambling. Additionally, some brokers may not offer instruments such as binary options owing to regulatory limitations.
The Indonesian regulators have also restricted the marketing and sale of forex products to retail clients, particularly those featuring high leverage or complex characteristics.
Brokers operating in Indonesia must observe these restrictions and ensure that their products are suitable for retail clients. Indonesian traders, meanwhile, are advised to work only with brokers regulated either by local authorities or by reputable tier-1 overseas regulators, thereby avoiding unregulated and potentially unsafe firms.
Who Regulates Forex Trading in Indonesia?
Regulation of the Indonesian forex market falls under the remit of both BAPPEBTI and OJK. BAPPEBTI supervises commodity futures trading – including forex – while OJK oversees the broader financial services industry, covering banking, securities and insurance.
The two bodies collaborate to ensure that brokers comply with the law and to inform traders about the risks of forex trading and the importance of choosing a well-regulated broker.
Requirements for Forex Brokers in Indonesia
Brokers serving Indonesian clients must meet several requirements, including negative-balance protection, leverage limits, investor compensation, risk disclaimers, fund segregation and automatic margin close-outs. Negative-balance protection prevents traders from losing more than their initial deposit. Leverage is capped at a maximum of 1:100 for major pairs and 1:50 for minors.
Investor-compensation schemes protect clients if a broker becomes insolvent, while mandatory risk disclaimers outline the dangers of forex trading. Client money must be held in segregated accounts and not used for the broker’s own activities. Automatic margin close-outs shut a position if the account balance falls below a set threshold.
Because more than 87% of Indonesians profess Islam, brokers must also offer trading conditions that comply with Sharia law – primarily via Islamic (swap-free) accounts that eliminate swap fees.
How to Identify Reliable Forex Brokers Accepting Indonesian Clients
Choosing a reliable broker can be challenging, but several steps help. First, confirm that the broker holds a valid licence from the Indonesian authorities or another reputable regulator.
Check the official register on BAPPEBTI’s website to verify a broker’s licence, or consult the registers of any other regulators under whose licences the broker operates.
Price transparency is another key consideration. Traders should have easy access to information about spreads, commissions and other charges and should be wary of brokers that impose excessive or hidden fees.
Are There Taxes on Profits from Forex Trading in Indonesia?
Yes. The Directorate General of Taxes (DGT) treats profits from forex trading as taxable income. Depending on the taxable amount, rates range from 5% to 35%.
Traders must declare their profits on their tax returns and pay any tax due. The rules can be complex, so professional advice is advisable to ensure full compliance.
Forex Brokers in Indonesia FAQ
What is the primary regulatory body responsible for overseeing the Forex market in Indonesia?
The Commodity Futures Trading Regulatory Agency (BAPPEBTI) and the Financial Services Authority (OJK) jointly oversee the Indonesian forex market. Together they ensure that brokers comply with the law and provide guidance on the risks involved.
Are CFDs (Contracts for Difference) allowed in Indonesia, and what are the benefits and risks associated with trading CFDs?
Yes. CFDs are permitted in Indonesia. They allow traders to speculate on price movements without owning the underlying asset. Benefits include leverage – enabling larger exposure with less capital – and the ability to trade on margin. Risks include significant potential losses, margin calls and automatic position close-outs.
How do I know if a Forex broker is licensed and regulated to operate in Indonesia, and what are the consequences of trading with an unlicensed broker?
You can verify a broker’s status by consulting the licensed-broker register on BAPPEBTI’s website and by checking for any regulatory warnings. Trading with an unlicensed broker exposes you to fraud, theft and substantial financial loss, and you will not benefit from the protections afforded by regulated firms.
What is the tax rate on Forex trading profits in Indonesia, and are there any tax deductions or exemptions available to traders?
For residents, forex profits are generally taxed at 20%, although the rate can vary with individual circumstances. Losses may be offset against taxable income, and certain forms of trading income may qualify for deductions or exemptions. Always seek professional advice to ensure you meet your obligations and claim any available reliefs.
What is the minimum capital requirement for Forex brokers operating in Indonesia, and what are the implications of this requirement for traders?
Brokers must hold at least IDR 10 billion (approximately USD 700,000) in capital. This requirement underpins their financial stability, reducing the risk of insolvency and helping to safeguard client funds.
Conclusion
The Indonesian forex landscape is vibrant and rapidly evolving. Robust regulation and technological progress are creating fertile ground for traders, while the country’s growing, diversified economy is boosting demand for forex services. By navigating the regulatory framework and capitalising on Indonesia’s favourable business climate, brokers can unlock the market’s vast potential and offer traders a seamless, rewarding experience.
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What sets Rational FX apart is its rigorous evaluation process, which considers over 30 different criteria when selecting forex brokers. This comprehensive approach ensures that every aspect of a broker's service is taken in consideration, including regulation, forex spreads, trading platforms, deposit methods, and reputation. With its wealth of experience, transparent review process, and outstanding customer feedback, Rational FX is a trusted source for anyone seeking reliable information on forex brokers. You can reach us via e-mail at feedback@rationalfx.com or contact us through our social media accounts here: Facebook, YouTube, or leave a feedback here.