Best Forex Brokers in Indonesia

FP Markets has a huge experience in the markets. The broker was founded in 2005 in Australia. The broker offers exceptional customer support available in multiple languages 24/7. Existing and potential customers are able to contact the broker via live chat window, over the phone, or using an email. 

The company has received more than 40 industry awards. FP Markets is well regulated in various countries. Traders that register with the broker from Indonesia, are accepted by FP Markets LLC, which is registered with FSA of St. Vincent and the Grenadines, with registration number 126 LLC 2019 and registered address at Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines.

In order to attract both active and less active traders, FP Markets offers 2 account types. The Standard account is created for beginners, swing traders and position traders. The Raw account is designed for more active trading. As the name suggests, the Raw account offers raw spreads starting from 0 pips. Instead of spreads, traders are charged with commissions. To find more about each trading account, let’s take a look at the comparison table below. 

Tickmill was founded in 2014. The broker is highly experienced and has a great reputation among traders. Tickmill provides financial services to more than 270,000 active traders worldwide. 

Tickmill is strictly regulated in multiple jurisdictions. Traders that open live trading accounts from Indonesia are accepted by the Tickmill Ltd, which is authorized and regulated by the Financial Services Authority of the Republic of Seychelles, with the FSA License Number: SD008.

In order to satisfy the requirements of different trader types, Tickmill offers 3 accounts to choose from. The Pro and VIP accounts offer zero spread markups. Trading fees are charged as commissions on these accounts and as a result, they attract active traders. The Pro and VIP accounts are aimed at intraday traders, scalpers, news traders, high frequency traders, arbitrage traders and algorithmic traders. 

The Classic accounts offer zero commissions. And trading fees are included in spreads. Spreads on Euro vs US Dollar start from as little as 1.6 pips. Which is large compared to other brokers. We’ll compare assets and respective fees of the top 5 brokers in more detail below. The Classic account is best suited for position traders, novice traders, and swing traders. 

XM was founded in 2009, and since its establishment, has managed to become a global multi-asset broker with 5 million traders from 190 countries. 

The company is well regulated in multiple jurisdictions. Traders from Indonesia are accepted by XM's international entity, XM Global. XM Global Limited is authorized and regulated by the Financial Services Commission (FSC) (license number 000261/397).

Leverage varies from asset class to asset class. The maximum available leverage for trading Major currency pairs is 1000:1 at XM. The broker charges an inactivity fee of 5 USD per month after 90 days of inactivity, therefore, if you decide to stop trading for at least 90 days, it’s best to withdraw funds from your trading balance or execute small monthly trades. 

XM offers a dedicated account for investors looking for opportunities to invest in physical shares. The “Shares account” is for long term investors and leverage is not allowed on this account. Minimum initial investment required to open the account type is 10,000 USD.

Furthermore, there are three account types available for CFD trading. The micro account enables traders to open the smallest trades, which makes this account ideal for traders with limited capital and strategy testers. For more detailed information on each account, let’s take a look at the comparison table below. 

ICM Capital, established in 2009, has expanded its financial services globally and currently serves more than 120,000 active traders worldwide. The broker has earned a good reputation among traders and has received more than 20 industry awards. The company offers access to various asset classes, including currency pairs, energies, futures, indices, metals, cryptocurrencies, and CFDs on stocks. 

ICM Capital is well-regulated in 7 jurisdictions. There are 2 branches of ICM that accept traders from Indonesia: 

• ICM Jurisdictions In Mauritius, ICM Capital Limited (MU) is regulated and authorized by Financial Services Commission of Mauritius under license number: C118023357. 
• ICM Capital LLC (VC) is registered by the Financial Services Authority of Saint Vincent and the Grenadines under number: 1853 LLC 2022.

There are various trader types, and in order to attract all types of traders, ICM Capital offers 3 account types to its clients.

ICM Micro account type is made for beginners and traders that wish to test their trading strategies live. The Micro account enables traders to execute orders with the lowest trade sizes possible, which makes this account type best for strategy testers.

ICM Direct is best for novice traders, position traders, and swing traders. There are no commissions on this account, and trading fees are integrated in spreads. 

As the name suggests, ICM Zero charges zero spread markups. Instead, trading fees are charged as commissions. There’s a 7 USD commission per traded lot round turn. Zero spreads are attractive for active traders such as intraday traders, scalpers, high frequency traders, algorithmic traders, news traders, and arbitrage traders. 

For more detailed account type comparison, let’s take a look at the comparison table below: 

HF Markets is a multi-asset broker with over 10 years of experience. There are more than 3.5 million trading accounts registered with the broker. The broker offers access to more than 3138 tradable instruments through the most popular MetaTrader platforms. It should be mentioned that there's a 5 USD inactivity fee after 6 months of inactivity. To avoid the 5 USD fee, keep being active or withdraw funds from your balance once you decide to pause trading 

HF Markets is a well regulated broker internationally. Brokers from Indonesia are accepted by the HF Markets (SV) Ltd, which is incorporated in St. Vincent & the Grenadines as an International Business Company with registration number 22747 IBC 2015.

Every trader has different preferences. In general, active traders are looking for low spreads, and less active traders pick trading accounts with low commissions. To meet the needs of all trader types, HF Markets offers 5 accounts. Let’s learn more about each from our comparison table below.