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Best Forex Brokers Indonesia for 2019

Steven Hatzakis

The ForexBrokers.com annual review is among the most cited in the industry. With over 60,000 words of research across the site, we spend hundreds of hours testing forex brokers each year. Industry leaders trust us because our rigorous testing is totally independent and 100% unbiased.

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 Indonesian translation of FSA is Otoritas Jasa Keuangan or OJK.

The Securities and Exchange Board of Indonesia is the financial regulatory body in Indonesia. Website: https://www.ojk.go.id. We recommend Indonesia residents also follow the FSCA on Twitter, https://twitter.com/OJKINDONESIA.

Financial Services Authority of Indonesia

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.

Best Forex Brokers Indonesia

To find the best forex broker 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 Trust Score Ranking.

Here is our list of the best forex brokers in Indonesia.

  • IG - Best Overall, Most Trusted
  • Saxo Bank - Best Web Platform, Research
  • FOREX.com - Great All-around, Low Costs
  • City Index - Well-rounded Offering
  • XTB - Great Customer Service, Easy to Use Platform
  • Swissquote - Best Banking Services

Indonesia Forex Brokers Comparison

Forex BrokerAccepts ID ResidentsAverage Spread EUR/USD - StandardMinimum Initial DepositTrust ScoreOverallOpen Account
IGYes0.750£250.0099 4.5 Stars Visit Site
SwissquoteYesN/A€500.0099 4 Stars N/A
Saxo BankYes0.900$2,000.0098 4.5 Stars N/A
FOREX.comYes0.770$250.0091 4 Stars Open Account
City IndexYes0.770 £100.0091 4 Stars N/A
XTBYes0.900$250.0090 4 Stars N/A
easyMarketsYes1.800$100.0081 4 Stars N/A
PepperstoneYes1.160$200.0079 3.5 Stars N/A
LCGYes1.450$0.0079 4 Stars N/A
XM GroupYes1.600$5-10078 3.5 Stars N/A
ThinkMarketsYesN/A$250.0077 3.5 Stars N/A
Vantage FX Yes1.400$10074 3.5 Stars N/A
IC MarketsYes1.100$20072 4 Stars N/A
AlpariYes0.92$100.0069 3.5 Stars N/A
ForexTimeYes0.80$10069 3.5 Stars N/A
Forex ClubYesN/A$10068 3.5 Stars N/A
iTraderYes0.700$25068 3 Stars N/A
InstaforexYesN/A$166 3 Stars N/A
FX ChoiceYesN/A$10054 2.5 Stars N/A

How to Verify FSA (Indonesia) Authorisation

Unfortunately, the FSA does not currently have a simple search tool setup that allows you to verify authorisation easily. As a result, residents have to contact the FSA to confirm the status of the broker.

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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." Learn more.

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Steven Hatzakis

About the author: Steven Hatzakis Steven Hatzakis is the Global Director of Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. Steven is an active fintech and crypto industry researcher and advises blockchain companies at the board level. Over the past 20 years, Steven has held numerous positions within the international forex markets, from writing to consulting to serving as a registered commodity futures representative.


Trading CFDs, FX, and cryptocurrencies involves a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. All data was obtained from a published web site as of 02/18/2019 and is believed to be accurate, but is not guaranteed. The ForexBrokers.com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.

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