We have carefully selected the best and most trusted Forex brokers in Indonesia based on their reputation, regulation, spreads, trading platforms, and customer service.
List of Trusted & Popular Forex Brokers
Discover reviews, comparisons, and the latest news on top forex brokers to assist you in selecting the right one.
Unbiased Reviews. Real Insights. Smarter Trading Decisions.
Navigating the vast world of forex trading can be overwhelming. With countless brokers offering a range of services, how do you choose the right one? At TrustedFXMarkets, we make the process easier by providing:
In-Depth Broker Reviews
Comprehensive analysis covering regulation, fees, platforms, and more.
Broker Comparisons
Side-by-side comparisons to help you find the best broker for your trading style.
Latest Industry News
Stay updated with the newest trends, bonuses, and promotions in the forex market.
Best & Most Trusted Forex Brokers
XM BROKER
XM offers a variety of trading account types, flexible leverage up to 1:1000, MetaTrader 4 & 5 platforms, and 24/7 customer support.
4.8
OVERALL SCORE
Offers over 1,400 CFDs and 55 forex pairs
Trading Central enhances in-depth in-house research
Features daily videos, podcasts, and live broadcasts in multiple languages
Full MetaTrader suite supports copy trading and algorithmic tools
Standard account spreads are high
XM Zero account available only in the EU, with no average spread data
No proprietary trading platform offered
FBS BROKER
FBS is known for its attractive deposit bonuses, low spreads, and reliable MetaTrader platform.
4.7
OVERALL SCORE
High leverage up to 1:3000 (non-EU customers) for higher-risk traders
Low spreads and commissions (from 0 pips) on most accounts
Free demo account for all account types
Free social trading app (FBS CopyTrade) to copy top investors (IFCA and FSCA regions only)
Multilingual customer support available 24/7
No withdrawal fees
Robust research and education resources
No proprietary web or desktop platforms
Some instruments have wide spreads
Limited commodity offerings
Fewer account options for EU, UK, and Australian clients compared to other regions
JUSTMARKETS BROKER
JustMarkets offers a variety of trading instruments, including forex, indices, and precious metals. The regulated broker also provides copy trading.
4.8
OVERALL SCORE
Regulated by multiple bodies, including CySEC, FSA, FSCA, and FSC, ensuring international compliance
Low minimum deposit of $10, accessible to traders of all levels
Leverage up to 1:3000, amplifying potential profits with higher risk
Offers diverse instruments like forex, commodities, indices, shares, and cryptocurrencies
Supports various trading strategies, including scalping and Expert Advisors (EAs)
Limited regulation by top-tier authorities like the FCA and ASIC
Restricted services in countries such as the United States, United Kingdom, and Japan
Inactivity fees for dormant accounts
Longer-than-expected withdrawal processing times, especially for bank transfers
EXNESS BROKER
Exness is known for fast execution, low spreads, and instant deposits/withdrawals. MetaTrader 4 & 5 platforms are available.
4.8
OVERALL SCORE
Free VPS hosting
Instant 24/7 withdrawals, depending on the method
Segregated accounts
Swap-free/Islamic account available
High maximum leverage
Narrow spreads
Multiple trading platforms: MT4, MT5, MultiTerminal, mobile platform
24/7 customer support available in limited languages
Minimal training resources
No U.S. residents accepted as clients
HEADWAY BROKER
Headway Broker offers competitive spreads, high leverage, and a modern trading platform.
4.5
OVERALL SCORE
Regulated by the FSCA (Financial Sector Conduct Authority) in South Africa
Offers a variety of trading instruments including forex, indices, energies, cryptocurrencies, and stocks
Competitive spreads starting from 0 pips
High leverage up to 1:1000
MT4 and MT5 platforms available on desktop, web, and mobile
Educational resources, including webinars, training videos, and guides
24/7 client support
Limited regulation compared to larger brokers
High leverage may increase risks
WINDSOR BROKER
Windsor Brokers is a regulated broker offering a variety of trading accounts, fast execution, and competitive spreads.
4.8
OVERALL SCORE
Regulated broker for added security.
Variety of trading accounts to suit different needs.
Fast and efficient trade execution.
Competitive spreads to minimize costs.
Supports MT4 and MT5 platforms.
Educational resources for traders.
Strong customer support.
Limited asset selection.
Higher minimum deposit for some accounts.
OCTA FX BROKER
OctaFX offers ECN and Micro accounts, low spreads, and supports MT4, MT5, and mobile application platforms.
4.5
OVERALL SCORE
Low spreads & zero commission: Starting from 0.6 pips on EUR/USD, with transparent transaction costs.
Multiple trading platforms: Available on MT4, MT5, and proprietary OctaTrader with advanced analysis tools.
Swap-free accounts: Suitable for Muslim traders with no interest-based charges.
Low minimum deposit: Starts at $25, accessible for beginners.
Copy trading available: Easy to mirror strategies of experienced traders.
24/7 customer support: Available via live chat, email, and social media.
No deposit/withdrawal fees: Free transactions for deposits and withdrawals.
Limited regulation: Registered in Saint Vincent & Grenadines, lacking stricter tier-1 regulators.
Scalping restrictions: Limited to 30 orders per minute, hindering high-frequency strategies.
HFM MARKETS BROKER
HF Markets is known for its strong regulation, offering MT4 & MT5 platforms, and 24/5 customer support. It provides flexible instruments and account options suitable for both beginner and professional traders.
4.8
OVERALL SCORE
Strong regulation: Licensed by top-tier regulators including the FCA, CySEC, and DFSA, ensuring security and trust.
Wide range of instruments: Offers over 500 tradable instruments, including forex, metals, stocks, indices, commodities, ETFs, and cryptocurrencies.
Competitive trading conditions: Provides various account types with spreads starting from 0.0 pips and leverage up to 1:2000, catering to both beginners and professionals.
Advanced trading tools: Equipped with Premium Trader Tools, Autochartist, and Advanced Insights for improved analysis and strategy development.
Educational resources: Offers webinars, video tutorials, podcasts, and e-courses to support traders at all levels.
24/5 customer support: Available in multiple languages via live chat, email, and phone.
Limited platform offerings: Primarily offers MetaTrader platforms (MT4 and MT5) and the proprietary HFCopy, with limited web-based applications.
Educational content quality: While resources are available, some users find the quality and depth lacking compared to other top brokers.
Trading costs on spread-only accounts: Spreads on certain accounts, like the Cent account, may be slightly above the industry average.
IC MARKETS BROKER
IC Markets offers competitive pricing and scalable execution, making it ideal for algorithmic traders. It also provides a strong range of social copy-trading platforms and improved research and educational resources.
4.7
OVERALL SCORE
Competitive pricing with low average spreads.
Over 3,500 tradable instruments and robust support for algorithmic trading across multiple platforms.
Award-winning MetaTrader broker with integrated third-party plugins.
Educational content and research offerings could be further developed.
Lacks a proprietary forex trading app.
Share trading is limited to Australian stocks via IC Shares.
TICKMILL BROKER
Tickmill offers competitive spreads, a proprietary app, and advanced tools for algo traders but has a limited investment range and removed some third-party tools in 2025. It’s ideal for cost-conscious, professional traders.
4.8
OVERALL SCORE
Raw account pricing recognized as Best in Class for fees in 2025.
Provides the full MetaTrader suite with additional platform add-ons.
Supports algorithmic trading and advanced tools like CQG.
Trading signals powered by Signal Centre and Acuity.
Limited asset variety compared to top brokers.
Classic account pricing is average, and VIP account was discontinued.
Autochartist, Pelican, and Capitalise.ai removed in 2025.
FXPRO BROKER
FxPro offers multiple account options, platforms, and its proprietary FxPro Edge app, alongside BnkPro and Invest Web. However, its higher-than-average pricing, even with low spreads on cTrader, limits its competitiveness against low-cost brokers.
4.7
OVERALL SCORE
Over 2,200 CFDs available, including forex, stocks, and commodities.
Provides MetaTrader, cTrader, and the proprietary FxPro Edge platform.
Excellent support for algorithmic trading with fast execution on large orders.
Trading fees are higher than those of top low-cost forex brokers.
FxPro Edge falls behind leading proprietary platforms.
Educational resources are limited compared to industry leaders.
Comparison of Forex Brokers
| Broker | Regulation | Spread | Platform | Minimum Deposit | Leverage | Additional Features |
|---|---|---|---|---|---|---|
| XM | FCA, CySEC | 0.6 pips | MT4, MT5 | $5 | 1:888 | Copy Trading, Education |
| FBS | IFSC, CySEC | 0.5 pips | MT4, MT5 | $1 | 1:3000 | Bonus Programs, Social Trading |
| JUSTMARKETS | FCA, CySEC | 0.7 pips | MT4, MT5, cTrader | $10 | 1:500 | Copy Trading |
| EXNESS | FCA, CySEC | 0.3 pips | MT4, MT5 | $1 | 1:2000 | Zero Spread Account |
| HEADWAY | FCA | 0.6 pips | MT4, MT5 | $50 | 1:500 | None |
| WINDSOR | CySEC | 0.7 pips | MT4, MT5 | $100 | 1:500 | None |
| OCTAFX | FCA, CySEC | 0.5 pips | MT4, MT5 | $5 | 1:500 | None |
| HF MARKETS | FCA, CySEC | 0.6 pips | MT4, MT5 | $50 | 1:1000 | Copy Trading, Trading Signals |
| Tickmill | FCA, CySEC, FSA | 0.0 pips | MT4, MT5, Tickmill Trader | $100 | 1:1000 | TradingView, Acuity, Signal Centre |
| FxPro | FCA, CySEC | 0.0 pips | MT4, MT5, cTrader | $100 | 1:500 | Quant, Autochartist, Trading Signals |
| IC Markets | FSA | 0.0 pips | MT4, MT5, cTrader | $200 | 1:500 | TradingView, VPS, Hedging, Scalping |
How to Choose a Trusted Forex Broker
Selecting the right forex broker is crucial for your trading success. Here’s a comprehensive guide to help you make an informed decision:
Regulation
Ensure that the broker is regulated by a reputable financial authority. A regulated broker adheres to strict standards of operation, providing a safe trading environment. Look for brokers licensed by well-known regulators such as the FCA (UK), CySEC (Cyprus), or ASIC (Australia) to guarantee the protection of your funds and fair trading practices.
Account Types
Different brokers offer various account types to cater to diverse trader needs. Consider brokers that provide a range of account options to match your capital and trading strategy. Whether you're a beginner or a professional, ensure that the account types available suit your trading volume, risk tolerance, and leverage preferences.
Trading Platforms
The trading platform is your primary tool for executing trades, analyzing markets, and managing positions. Choose a broker that offers well-established platforms such as MetaTrader 4 (MT4), MetaTrader 5 (MT5), or cTrader. These platforms are widely used, user-friendly, and equipped with essential features like charting tools, technical indicators, and automated trading support.
Spread & Commission
Low and transparent spreads are essential for maximizing your profit potential. Opt for brokers that offer tight spreads with clear and fair commission structures. Brokers with competitive spreads and minimal hidden fees will help reduce the cost of each trade, enhancing your overall profitability.
Deposit & Withdrawal Process
A reliable broker should offer a seamless and secure deposit and withdrawal process. Look for brokers with multiple payment options (bank transfers, credit cards, e-wallets) and fast processing times. Ensure the broker uses robust security measures, such as SSL encryption, to protect your financial transactions.
Customer Support
Reliable customer support is crucial, especially if you encounter issues during trading hours. Choose a broker that provides 24/7 support through multiple channels such as live chat, email, and phone. A responsive and knowledgeable support team can assist you with technical issues, account inquiries, and other concerns promptly.
Forex Trading Education and Tips
1. Understand the Basics of Forex Trading
Before diving into the world of forex trading, it’s crucial to familiarize yourself with fundamental concepts such as currency pairs, leverage, margin, and pips. A strong understanding of these basics forms the foundation for successful trading and helps you navigate the forex market with confidence.
2. Implement a Solid Trading Strategy
Develop a comprehensive trading plan that includes clear risk management strategies. This should involve setting stop loss and take profit levels to manage your trades effectively. A well-thought-out strategy helps minimize emotional decision-making and ensures a consistent approach to your trading activities.
3. Risk Management
Effective risk management is key to long-term trading success. Limit your risk per position to no more than 1-2% of your trading capital. Always use stop loss orders to protect your investments and avoid the temptation of overtrading. This approach helps safeguard your capital while allowing for profitable growth over time.
4. Choose a Trusted Forex Broker
Selecting a regulated and reputable broker is essential for securing your funds and ensuring fast, reliable trade execution. A trustworthy broker offers a safe trading environment, transparent pricing, and efficient customer support. Make sure your broker is licensed by a recognized financial authority to guarantee that your trading experience is both secure and smooth.
How to Verify a Forex Broker's Credibility
Before you entrust any funds to a broker, run a quick credibility checklist. The steps below help you verify regulation, company background, user feedback, support quality, and the real-world performance of a broker’s trading platform — essential checks for anyone beginning forex trading or evaluating an online broker.
1. Check Regulatory Status
Start by confirming the broker’s licence directly with the regulator’s public register. This is fast and usually takes 5–15 minutes.
- FCA (UK): Search the Financial Services Register
- ASIC (Australia): Check the ASIC Connect Professional Registers
- CySEC (Cyprus): Verify on the CySEC Website
- CFTC / NFA (US): Search the NFA BASIC System
Tip: also look for regional regulators where you live (e.g., FSCA in South Africa, BaFin in Germany). Match the legal entity name and licence number shown on the broker’s site with the regulator record.
2. Research Company Background
Take 10–30 minutes to check the broker’s corporate history and financial standing:
- How long has the broker been operating? Longer track records and publicly traded parents can increase trust.
- Search for news about financial stability, fines, or regulatory actions.
- Look for parent company details and audited financial statements where available.
- Confirm physical office addresses and corporate registration numbers.
3. Evaluate Customer Reviews and Feedback
Reading user feedback helps you spot recurring issues quickly — allocate 15–45 minutes.
- Check independent forums and communities (e.g., Reddit trading subs) for trader experiences.
- Use review platforms like Trustpilot and ForexPeaceArmy, but look for patterns rather than single complaints.
- Pay special attention to withdrawal experiences, dispute outcomes, and platform downtime reports.
- Remember: some negative reviews are inevitable; look for repeated themes (withdrawal delays, hidden fees).
4. Test Customer Service
Customer support quality is a practical proxy for reliability — spend 10–20 minutes testing it before you open an account.
- Contact support with specific questions about deposits, withdrawals, and regulatory status.
- Test multiple channels (live chat, email, phone) and note response times and helpfulness.
- Confirm support languages and availability hours for your region.
- If support is evasive or unresponsive, treat this as a red flag.
5. Try the Demo Account
Using a demo account is one of the fastest ways to evaluate a broker’s trading platform, data quality, and execution — plan 1–2 sessions of 30–60 minutes each.
- Test platform stability and execution during active market hours (economic releases).
- Evaluate charting tools, order types, and advanced charting if you plan to use them.
- Check whether educational resources (tutorials, webinars) are accessible from the demo environment.
- Assess the realism of market data and slippage — demo environments that hide execution issues can be misleading.
Frequently Asked Questions (FAQ) About Forex Brokers
What is a trustworthy forex broker?
A trustworthy forex broker is one that is properly regulated by a recognized financial authority, ensuring that it operates within legal and ethical standards. Such brokers provide a transparent trading environment, where clients’ funds are safeguarded, and their interests are prioritized. In addition to regulation, a reliable broker has a strong reputation within the industry, offers competitive spreads, and provides high-quality customer service that is available when needed. Look for brokers that offer clarity on their pricing, trade execution, and overall services to ensure a secure trading experience.
How do I open a trading account?
Opening a trading account is a straightforward process. To get started, visit the broker's official website and complete the registration form. This usually requires personal details, such as your name, address, and email, along with identification documents to verify your identity. After your account is approved, you will need to fund it by making a deposit, which can be done through various payment methods like bank transfers, credit cards, or e-wallets. Once your account is funded, you’re ready to start trading. Always make sure you read the broker's terms and conditions before signing up.
What is the minimum deposit to start trading?
The minimum deposit required to start trading can vary greatly from one broker to another. Some brokers offer accounts with a deposit as low as $1, especially for micro or beginner accounts, while others may require deposits ranging from $10 to $100 or more for standard accounts. It's important to check the broker's minimum deposit requirements and make sure it aligns with your budget and trading plans. Remember, while a smaller deposit may be appealing, ensure that the broker offers the features and services that meet your needs.
Is forex trading safe?
Forex trading can be safe if you choose a regulated broker and apply effective risk management strategies. A regulated broker is required to adhere to strict guidelines, ensuring that your funds are protected and that the broker operates fairly. However, the level of risk depends on your trading decisions. It is essential to educate yourself about the risks involved in forex trading, use risk management tools such as stop losses, and never risk more than you can afford to lose. By being informed and disciplined, you can mitigate many of the risks associated with forex trading.
Can I trade with a small amount of capital?
Yes, it is possible to trade with a small amount of capital. Many brokers offer micro and mini accounts, which allow traders to begin with a small deposit, sometimes as low as $1. These accounts allow you to trade smaller position sizes, reducing the amount of risk per trade. While trading with a small amount of capital can limit your potential profits, it is a great way for beginners to gain experience without risking significant amounts of money. Always remember that trading with leverage can amplify both gains and losses, so be cautious when using leverage in small accounts.
What is leverage in forex trading?
Leverage is a tool that allows traders to control a larger position with a smaller amount of capital. For example, a broker offering 1:100 leverage allows you to control $100,000 in currency with just $1,000 in your account. While leverage can magnify your potential profits, it also increases the risk of significant losses. It’s important to use leverage responsibly and in conjunction with sound risk management practices. Traders should avoid using high leverage unless they fully understand how it works and how it can impact their trading outcomes.
What platforms do brokers offer for trading?
Most brokers offer popular trading platforms such as MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader. These platforms are widely used due to their user-friendly interfaces, advanced charting tools, and support for automated trading systems. Additionally, some brokers may offer proprietary platforms that offer unique features and tools tailored to their clients. When choosing a broker, it's essential to consider the platform's ease of use, reliability, and available features, as well as whether it is compatible with your trading style.
What is spread, and why does it matter?
The spread is the difference between the buy (ask) and sell (bid) prices of a currency pair. It represents the cost of trading and is how most brokers earn money from trades. A lower spread generally means lower trading costs, which is beneficial for traders. Spreads can vary depending on the broker and the market conditions, and they are typically narrower for major currency pairs and wider for less liquid pairs. Understanding how spreads affect your trading costs is crucial for managing profitability.
What is a demo account, and should I use one?
A demo account is a risk-free account offered by brokers that allows you to practice trading with virtual money. It’s an essential tool for beginners to learn how the market works, test strategies, and get familiar with the trading platform before committing real funds. Using a demo account helps you gain confidence and experience in trading without risking any capital. Even experienced traders use demo accounts to test new strategies or practice in volatile market conditions.
Can I trade on my mobile device?
Yes, most brokers offer mobile trading apps for both Android and iOS devices. These apps provide access to your trading account and allow you to execute trades, monitor positions, and access market data while on the go. Mobile trading offers flexibility and convenience, making it easier for traders to stay connected to the markets at all times. However, it’s important to ensure that the app is secure and provides the necessary features for your trading needs.
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Risk Warning: Forex trading involves significant risk of loss and is not suitable for all investors. Before trading forex, carefully consider your financial objectives, experience level, and risk tolerance. The majority of retail investor accounts lose money when trading CFDs. Be aware of the risks associated with the foreign exchange markets and seek advice from an independent financial advisor if you have any doubts. Check local regulations and disclosures before opening an account, as product availability and leverage limits vary by jurisdiction.