Forex trading has recently grown very popular in Indonesia, and thousands of novice traders enter the market in hopes of making significant profits without investing too much money and effort. The country has many international brokers you can choose from, but you should be well aware of their conditions and fees before making the final decision. To help you out, we’ve made this Traders Union article with the list of the best Forex brokers in the country and their most important features.
Forex trading in Indonesia
Trading currency pairs is perfectly legal in the country, and it is approved by the financial authorities of Indonesia. All brokers are regulated by the Securities and Exchange Board of Indonesia (BAPPEBTI), the apex regulator of the country that makes sure Indonesian traders are protected from frauds. It has strict guidelines for financial intermediaries dictating how transactions must be processed. In addition, the regulator is known to provide educational materials for novice traders.
There are many international brokers operating on the local Forex market, and you can trade with any of them without any legal problems. However, you should pay close attention to how brokers work and how they are regulated. It’s also very important to compare fees, bonuses, and other conditions to find the most suitable broker for your trading style. But if you don’t have time for that, don’t worry: we have gathered the best Forex brokers in Indonesia in this brief list.
Founded in 2009, RoboForex is one of the largest and most well-known Forex brokers in the world, so you can be sure it is reliable and user-friendly. It allows you to start trading with $10, and the leverage can reach 2000:1. The broker has a welcome bonus of $30 and a lot of useful tools for beginners.
FBS is another international broker that’s especially popular in Indonesia. It features a large selection of trading instruments, a beneficial affiliate program, and good trading conditions. It also has a variety of useful educational materials and good bonuses.
According to Traders Union analysts, AvaTrade is currently one of the most well-known Forex brokers in the country. It’s secure, well-regulated, and convenient for novices. The broker is known to have an especially beneficial fee structure, the minimum deposit is $100, and the leverage reaches 400:1.