3 best Forex Brokers in Indonesia in comparison
If there’s one thing Indonesians share in common, it is the desire to get ahead. And this desire across the islands manifests itself in many ways – including forex trading.
Getting online to trade foreign exchange is an ever-growing habit of many Indonesians these days. If you are contemplating getting involved, we can help right here with our review of the 3 best forex brokers in Indonesia. We have removed a lot of the legwork out of the task for you. So forex trading in Indonesia is now not as daunting as you may have been led to believe.
And even if you’re an old hand at forex trading, it’s always good to see what other providers have to offer. Just in case you are missing out on a better deal or more comfortable trading environment in which to trade.
Broker: | Review: | Regulation: | Spreads: | Assets: | Advantages: | Open Account: |
|---|---|---|---|---|---|---|
1. Olymp Trade  | IFC | Starting 0.0 pips + fixed % commission (depending on leverage is used) | 200+ (30+ currency pairs) | + Trade with 1$ + Options and Forex + Bonus program | (Your capital is at risk) | |
2. BDSwiss  | CySEC, FSC | Starting 0.0 pips + $ 2.0 commission per 1 lot | 250+ (52+ currency pairs) | + Individual offers + Trading signals + Raw Spreads + Leverage up to 1:500 + Best education + Personal support | (Your capital is at risk) | |
3. FxPro  | FCA, CySEC, FSCA, SCB | Starting 0.0 pips variable | 250+ (50+ currency pairs) | + High liquidity + NDD Broker + No requotes + No commissions | (Risk warning: 72.87% of CFD accounts lose money) |
(5 / 5) 
(4.9 / 5) Who’s the best Forex Broker for Indonesia?
Please read our review and find out who is the pick of the bunch. The three we showcase here are, we believe, the top players with the best trading conditions, excellent reputations, and a commitment to transparency and customer service. And if you’re a Muslim, you will be delighted to hear that some of our reviews offer Islamic swap-free accounts that are Halal.
3 best Forex Brokers in Indonesia:
- Olymp Trade – Consistent award winner
- BDSwiss – Definite good guys
- FxPro – Hot forex platform
(Risk warning: Your capital might be at risk.)
1. Olymp Trade
Olymp Trade forex broker in Indonesia
Olymp Trade remains one of the most popular forex brokers in Indonesia. And that’s saying something like the world of forex brokerages is a very crowded landscape these days.
Though formed only relatively recently – in 2014 – Olymp Trade has quickly embedded itself into the hearts of forex traders worldwide. It has developed a loyal following of hardcore fans that would wince at the idea of having to move to another provider. And Indonesians are no exception.
In some ways, Olymp Trade possesses that intangible X factor you can’t quite put your finger on. Head over there now and see why we were more than happy to include Olymp Trade in our top 3 best forex brokers in Indonesia.
It’s not just us blowing smoke about Olymp Trade. The platform has won several industry awards over the years. These have recently included a double win in the Forex Brokers Awards, where Olymp Trade was voted Best Mobile App Experience and Best Customer Service Broker.
While this special magnetism may be almost indiscernible to some, connoisseurs of forex trading platforms will understand. Back in the tangible world, what is it that makes Olymp Trade so unique and attractive?
A primary appeal is the low $10 minimum deposit and the ability to put a minimum investment of $1 on the line. This is an excellent idea as it’s a smart move to start small, particularly while you cut your forex teeth. But if you don’t have a good grip on what you are doing, open a demo account, to begin with and do the necessary homework. There are no shortcuts in forex trading, and knowledge is the best weapon to combat losses.
Olymp Trade also runs regular bonus schemes and competitions, which are very popular. So this is yet another factor to think about when choosing a forex broker that is right for you.
What also distinguishes Olymp Trade is that while it has appeal for beginners, the same is also true for more accomplished forex traders. Be it the platform training and learning resources such as their comprehensive FAQ page or their clean easy to negotiate platform, Olymp Trade ticks everyone’s boxes.
Advantages of Olymp Trade:
- Learning and training for new and experienced traders
- Swift and easy withdrawals
- Unlimited demo accounts
- Multiple winners of prestigious industry awards
- 100% deposit bonus
- Low $10 or €10 minimum deposit
- Highly customizable platform
- Multiple account types
- User-friendly and transparent
- Multiple indicators and charts
(Risk Warning: Your capital is at risk)
2. BDSwiss
BDSwiss forex broker in Indonesia
Maybe it’s just us, but there seems to be a whiff of the old school about BDSwiss. Maybe it’s all that mountain air and chocolate, but despite being cutting edge, BDSwiss has a warm, familiar feel to it.
And that’s really no bad thing in our book. As one of the longest established forex brokers, BDSwiss brings a lot to the table. The Swiss knack for finance, precision, and orderliness for three.
Yes, these are all sweeping stereotypical generalizations, admittedly. But venture onto their website, and its no-nonsense functional appeal immediately strikes you. And that’s probably the look and feel you are looking for from a forex broker. For, after all, it’s a serious business where substance vastly outstrips form. Nobody needs flashy design and all the latest web trends.
What you really want is a robust platform that functions reliably and consistently. So long as the back end is up to speed technology-wise, we need not worry too much about the interface looking pretty.
That said, BDSwiss hasn’t skimped on design. Yes, it might be a touch minimalist, perhaps, but the design is logical and easy to use. What more do you really need?
After all, no one wants non-mission-critical design getting in the way of the task at hand. And BDSwiss delivers on this. Their platform is intuitive. You can whizz around no problem getting on with the serious business of forex trading with nothing cluttering up your path.
BDSwiss makes a well-deserved place on our forex broker showcase not only for its design and minimalism but also for its safety and security. It is an excellent reliable brand that is well respected. And with more than 250 currency pairs to trade, it shows that BDSwiss takes forex seriously. It’s not just another add-on service like other platforms you may have tried out in the past.
For forex traders in Indonesia, we give BDSwiss a big thumbs up. If you have come across BDSwiss, please take a look now. You won’t be disappointed.
Advantages of BDSwiss:
- Islamic accounts
- No fees applicable on withdrawals or deposits
- $100 minimum deposit
- Bitcoin and other crypto payments allowed
- Up to five trading accounts
- 24/5 customer support
- MetaTrader 4/5
- Trading signals
- Forex education training courses
- Fast and straightforward to open an account
- Swiss financial experience
- A reputable and safe company
(Risk Warning: Your capital is at risk)
3. FxPro
FxPro forex brokers in Indonesia
If you are in Indonesia and want to turbo-boost your forex trading, we would strongly recommend taking a peek at FxPro.
When we were planning this review, one of the first forex brokers to spring to mind was FxPro. They were a shoo-in from the get-go.
And here’s why we felt it was an obvious choice for our best 3 forex brokers in Indonesia. We hope you agree. First of all, let’s get this out of the way…the minimum deposit is a pretty steep $100. This is likely to put all but the more experienced forex traders off straight away. But bear with us.
FxPro, on the face of it, appeals and appears aimed squarely at experienced forex traders. However, like almost all platforms, you can first open a demo account. This will let you find your way around and decide whether you like what you see. It’s also a convenient breathing space to get your head around forex trading or learn more if you have dabbled in the past.
Unlike some competitors in the field, FxPro was set up first and foremost as an online forex broker. This was their mission from the outset instead of tacking on forex as a belated afterthought.
In its fifteen-year lifespan, FxPro has grown into one of the leading lights of the forex trading marketplace. Today it serves retail and institutional customers in over 170 countries, and they’re still growing.
Much of this has to do with its level of regulation. FxPro is regulated in multiple countries, including the UK, Cyprus, South Africa, and the Bahamas. Because confidence is key to building a client base, FxProi has sought to bolster its financial propriety as strongly as possible.
Its 15-year history is littered with milestones and remarkable stats. For example, they have garnered in excess of 80 key industry awards and entered into seven global partnerships. They also execute around 7000 orders every second while averaging an execution order speed of fewer than 11 milliseconds. That’s seriously fast and precisely what you want in a forex broker.
Advantages of FxPro:
- Multi-award winners
- MetaTrader 4 & 5, and c Trader
- Fee-free deposits and withdrawals
- Regulated by multiple financial bodies
- $100 minimum deposit
- Trade over 70 currency pairs
- Allows trading bots
- Tight spreads
- Instant execution or market execution
- Real-time market news and technical analysis for free
(Risk warning: 72.87% of CFD accounts lose money)
Is it legal to trade forex in Indonesia?
Yes, it is entirely legal to trade forex in Indonesia. But if you are a Muslim, you will wish to find a forex broker that offers Islamic swap-free accounts. These types of accounts are Halal.
Which is the best broker for forex traders in Indonesia?
The goods news is that we have found not one but three great forex brokers that are well suited to clients in Indonesia. We have featured these three great brokers here in our review, so you don’t need to go looking. We are confident that you will discover at least one that is a good fit from these three.
The final verdict on the best Forex Broker in Indonesia
Indonesians are getting onboard with forex trading in ever-increasing numbers. Money can be made from forex trading, but remember, there are no shortcuts. We always recommend trying a demo account first, no matter your level of forex trading experience. And the more you learn using a broker’s learning and training centers, the better chance you stand to make cash rather than lose it.
Demo accounts serve two primary purposes. They allow you to become acquainted with the platform and try out your forex trading strategies before putting real cash on the line. There is no avoiding the reality that forex trading is a risky business. Never trade with money you can’t afford to lose. Start out some small and feel your way. Some of the brokers we have featured here let you open a live trading account with as little as $10. And some also permit you to be ultra-cautious by allowing a minimum investment of just a dollar.
Do not fall into the classic trap of thinking you should go large or go home. If you do, you might find you don’t have a home to go to.
Last Updated on January 15, 2023 by Arkady Müller
