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Forex Brokers Indonesia

5 Best ECN Forex Brokers in Indonesia

The 5 best ECN Forex brokers in Indonesia revealed. We tested and verified the best ECN forex brokers for Indonesia Traders.

This is a complete list of True ECN forex brokers operating in Indonesia. 

In this in-depth guide you’ll learn:

  • What are (Electronic Communication Network) ECN Brokers?
  • Who are Indonesia’s top ECN Forex Brokers with MT4/Metatrader 4?
  • How do you choose the best forex broker for your trading experience?
  • Which ECN brokers offer the lowest spread?
  • A closer look at ECN trading in Indonesia.
  • Which ECN Brokers offer trading apps?
  • Tips for successful ECN trading.
  • Which ECN Brokers offer a sign-up bonus to first-time traders?

 

And lots more…

So if you’re ready to go “all in” with the Top ECN Forex Brokers for Indonesians…

Let’s dive right in…

Updated : November 10, 2023

5 Best ECN Forex Brokers in Indonesia – Comparison 

🥇 Forex Broker🎉 Open An Account💳 Minimum Deposit📱 IDR-based Account?💰 IDR Deposits Allowed?
1. ExnessOpen Account10 USD / 157,151 IDRNoNo
2. TickmillOpen Account100 USD / 1,555,300 IDRNoNo
3. FXTMOpen Account10 USD / 157,151 IDRNoYes
4. HFMOpen Account0 USD / 0 IDRNoYes
5. PepperstoneOpen Account0 USD / 0 IDRNoNo

Top 10 Forex Brokers

Broker

Rating

Regulators

Min Deposit

Leverage

Website

1

8/10

ASIC, FSA

$100

1:400

2

9/10

FSCA, FSA, CySEC, FCA, CBCS, FSC (BVI), FSC

$10

1:20000

3

8.4/10

FSA, CySec, FSCA, FSC

$1

1:3000

4

8/10

FCA, IFSC, CySec, ASIC

$5

1:1000

5

8/10

FSCA, FSC, FSA

$10

1:400

6

8.7/10

FSCA, CySEC, FCA, DFSA, FSCA, CMA

$0

1:2000

7

8.5/10

ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB

$10

1:400

8

8.3/10

IFSC, FSCA, ASIC, CySEC

$1

1:1000

9

8.2/10

SVGFSA

$5

1:500

10

8.1/10

CySEC, ASIC, FSCA

$100

1:500

Top 10 Forex Brokers

Broker

Rating

Min Deposit

Leverage

1

8/10

$100

1:400

2

9/10

$10

1:20000

3

8.4/10

$1

1:3000

4

8/10

$5

1:1000

5

8/10

$10

1:400

6

8.7/10

$50

1:100

7

8.5/10

$10

1:400

8

8.3/10

$1

1:1000

9

8.2/10

$5

1:500

10

8.1/10

$100

1:500

What is an ECN broker? 

An ECN broker acts as a go-between in the ECN market for investors in the currency and stock markets, facilitating transactions over electronic communication networks.

 

Because an ECN broker aggregates quotes from multiple dealers, ECN traders usually profit from smaller gaps between buy and sell prices. 

5 Best ECN Forex Brokers in Indonesia (2023)

  1. ✔️Exness – Overall, Best MetaTrader 4 / MT4 Forex Broker
  2. ✔️Tickmill – Authorized By Several Reputable Market Regulators
  3. ✔️FXTMCommission-Free Trading is Offered
  4. HFM – Best Nasdaq 100 Forex Broker
  5. Pepperstone – Wide selection of instruments

1. Exness

Exness review

 

Exness is a trading platform for Indonesian traders that prioritises security and usability, and it is available on both the MT4 and MT5 platforms. Furthermore, consumers have access to beneficial trading conditions, such as decreased spreads and the availability of Electronic Communication Network (ECN) accounts. 

 

Exness is regarded as a leading forex broker by many Indonesian traders. Exness is in charge of $325.8 billion in monthly sales alone.  

 

Overall Rating

Min Deposit

159 900 IDR or 10 USD

Regulators

CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA

Trading Desk

MetaTrader mobile, Exness Trade App, Exness Terminal, MetaTrader 5, MetaTrader 4, MetaTrader WebTerminal

Crypto

Yes

Total Pairs

107

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

The company’s platform allows for trading in over 120 different currency pairs, as well as energy and commodities. Exness provides Indonesian traders with numerous benefits, including low fees, easy withdrawals, and immediate order execution. 

 

Unique Features 

📝 RegulationFSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA
📱 Social Media PlatformsInstagram, Facebook, Twitter, YouTube, LinkedIn
📜 OJK Regulation?No
🔎 Trading AccountsStandard Account, Standard Cent Account, Raw Spread Account, Zero Account, Pro Account
💻 Trading PlatformsMetaTrader 4, MetaTrader 5, Exness Terminal, Exness Trader app
💸 Minimum Deposit10 USD / 157,151 IDR
🔁 Trading AssetsForex, Metals, Crypto, Energies, Indices, Stocks
🚀 IDR-based Account?No
💳 IDR Deposits Allowed?No
💰 Bonuses for Indonesian traders?No
📊 Minimum spreadFrom 0.0 pips
✔️ Demo AccountYes
✔️ Islamic AccountYes
🎉 Open An AccountOpen Account

 

Exness ECN

 

Pros and Cons

✔️ Pros❌ Cons
Exness offers free virtual private server (VPS) hosting services.There aren’t many learning tools for new traders
Exness is carefully regulated by a number of well-known groups.There aren’t as many instruments to trade as with some other companies.
Exness has some of the best leverage rates on the forex market.
Exness also has customer service available 24 hours a day, 7 days a week. This makes sure that help is always available.

 

2. Tickmill 

Tickmill review

 

Tickmill has grown dramatically since its inception in 2014; it now serves over 110,000 users and conducts more than USD 120 billion in trading activity each month. 

 

When it comes to electronic communication networks (ECNs), Tickmill is a well-known brand. They are regulated by the Seychelles Financial Services Authority (FSA) and the United Kingdom Financial Conduct Authority (FCA). 

 

Overall Rating

Min Deposit

100 USD / 1,555,300 IDR

Regulators

Seychelles FSA, FCA, CySEC, Labuan FSA, FSCA

Trading Desk

MT4, MT5, Tickmill Mobile

Crypto

Yes

Total Pairs

62

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

Individual and institutional traders can use Tickmill to trade in foreign currency (FX), stock index, commodities, contract for difference (CFD), and precious metals markets. 

 

Unique Features 

📝 RegulationSeychelles FSA, FCA, CySEC, Labuan FSA, FSCA
📱 Social Media PlatformsInstagram, Facebook, Twitter, YouTube, LinkedIn, Telegram
📜 OJK Regulation?No
🔎 Trading AccountsPro Account, Classic Account, VIP Account
💻 Trading PlatformsMetaTrader 4, MetaTrader 5
💸 Minimum Deposit100 USD / 1,555,300 IDR
🔁 Trading AssetsForex, Stock Indices, Energies, Precious Metals, Bonds, Cryptocurrencies
🚀 IDR-based Account?No
💳 IDR Deposits Allowed?No
💰 Bonuses for Indonesian traders?Yes
📊 Minimum spreadFrom 0.0 pips
✔️ Demo AccountYes
✔️ Islamic AccountYes
🎉 Open An AccountOpen Account

 

Tickmill ECN

 

Pros and Cons

✔️ Pros❌ Cons
Tickmill has a very high trust score and is known for its competitive trading conditions.There are no fixed spread accounts offered to traders in Indonesia
There are various convenient funding options accessible, including Skrill, Neteller, and others.
Advanced traders can make use of a variety of tools, such as FIX API, AutoChartist, VPS, and others.

 

3. FXTM 

FXTM review

 

FXTM, which was created in 2011 and today has eleven global centres, employs over 800 people. Traders and investors in Indonesia can find a list of recommended traders to follow on FXTM Invest, commonly known as a directory of strategy suppliers. 

 

Followers of other Strategy Providers can register an account and mimic their trades for $100. 

 

Overall Rating

Min Deposit

10 USD / 157,151 IDR

Regulators

CySec, FSC

Trading Desk

MT4, MT5, Mobile Trading

Crypto

Yes

Total Pairs

60+

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

Indonesian traders that utilise FXTM Invest divide earnings from trades they execute, but the success of the Strategy Provider’s customer helps everyone more. 

 

Unique Features 

📝 RegulationCySEC, FSCA, FCA, FSC Mauritius
📱 Social Media PlatformsInstagram, Facebook, Twitter, YouTube, LinkedIn, Telegram
📜 OJK Regulation?No
🔎 Trading AccountsMicro Account, Advantage Account, Advantage Plus Account
💻 Trading PlatformsMetaTrader 4, MetaTrader 5, FXTM Trader
💸 Minimum Deposit10 USD / 157,151 IDR
🔁 Trading AssetsPrecious Metals, Stock Trading, Stock CFDs, Indices, Forex Indices, Forex Currency Pairs, Commodities, Stock Baskets
🚀 IDR-based Account?No
💳 IDR Deposits Allowed?Yes
💰 Bonuses for Indonesian traders?Yes
📊 Minimum spreadFrom 0.0 pips
✔️ Demo AccountYes
✔️ Islamic AccountYes
🎉 Open An AccountOpen Account

 

FXTM ECN

 

Pros and Cons

✔️ Pros❌ Cons
FXTM is an established and multi-regulated trading platform.Inactivity fees will be charged
FXTM offers its customers convenient deposit and withdrawal solutions with fast processing times.
There are no deposit fees at FXTM.
FXTM offers a number of instructional tools.
FXTM offers dedicated, local service in a variety of languages.

 

4. HFM

HFM review

 

HFM was created in 2010 and is a well-regulated and globally recognised brokerage firm. HFM allows Indonesian traders to trade fairly and honestly in hundreds of global financial marketplaces. 

 

HFM has over 1.5 million registered clients and has received over 25 industry awards since its inception. 

 

Overall Rating

Min Deposit

IDR 0 or USD 0

Regulators

FSCA, CySEC, DFSA, FSA, FCA, FSC, CMA 

Trading Desk

MetaTrader 5, MetaTrader 4, HFM App

Crypto

Yes

Total Pairs

50+

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

The HF App, which provides Indonesian traders with access to their accounts as well as a variety of trading tools, news, and financial research, sets HF Markets apart from its competitors. When you sign up with HF Markets, you gain access to a wider choice of tradable assets, such as speciality CFDs, than with other brokers. 

 

Unique Features

📝 RegulationFSCA, CySEC, DFSA, FSA, FCA, FSC, CMA
📱 Social Media PlatformsFacebook, Twitter, Telegram, Instagram, YouTube, LinkedIn
📜 OJK Regulation?No
🔎 Trading AccountsMicro Account, Premium Account, HFcopy Account, Zero Spread Account, Auto Account
💻 Trading PlatformsMetaTrader 4 and MetaTrader 5
💸 Minimum Deposit0 USD / 0 IDR
🔁 Trading AssetsForex, Precious Metals, Energies, Indices, Shares, Commodities, Cryptocurrencies, Bonds, Stocks DMA, ETFs
🚀 IDR-based Account?No
💳 IDR Deposits Allowed?Yes
💰 Bonuses for Indonesian traders?Yes
📊 Minimum spreadFrom 0.0 pips
✔️ Demo AccountYes
✔️ Islamic AccountYes
🎉 Open An AccountOpen Account

 

HFM

 

Pros and Cons

✔️ Pros❌ Cons
The EUR/USD currency pair offers highly competitive spreads starting from 0.9 pips.HFM only offers a few deposit and withdrawal methods to Indonesian traders
A demo account is available for both novice traders seeking to acquire trading skills and experienced traders aiming to evaluate and refine their tactics.
HFM offers a diverse range of asset classes that may be traded by investors.
Traders from Indonesia are provided with convenient access to MetaTrader 4 and 5 platforms, which are available on PCs, mobile applications, and web-based interfaces.

 

5. Pepperstone 

Pepperstone review

 

Pepperstone has made a name for itself as a significant ECN broker. Pepperstone, too, can benefit from STP (straight-through-processing) procedures. 

 

Pepperstone is generally regarded as the best ECN forex broker available due to its low spreads. Because of its speedy execution and low spreads, Pepperstone is well suited for integration with electronic communication networks (ECNs).  

 

Overall Rating

Min Deposit

0 USD / 0 IDR

Regulators

ASIC, BaFin, CMA, CySEC, DFSA, FCA and SCB

Trading Desk

TradingView, MetaTrader 4, MetaTrader 5, cTrader, Capitalise.ai

Crypto

Yes

Total Pairs

70+

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

All main trading platforms, including MetaTrader 4 and MetaTrader 5, as well as cTrader, are supported by Pepperstone. 

 

Unique Features 

📝 RegulationPepperstone
📱 Social Media PlatformsFacebook, Twitter, YouTube, LinkedIn
📜 OJK Regulation?No
🔎 Trading AccountsStandard Account, Razor Account, Professional Account, Demo Account, Islamic Account
💻 Trading PlatformsMetaTrader 4, MetaTrader 5, cTrader, TradingView, Myfxbook, Duplitrade
💸 Minimum Deposit0 USD / 0 IDR
🔁 Trading AssetsForex, Indices, Shares, Commodities, Cryptocurrencies, Futures, Options
🚀 IDR-based Account?No
💳 IDR Deposits Allowed?No
💰 Bonuses for Indonesian traders?No
📊 Minimum spreadFrom 0.0 pips
✔️ Demo AccountYes
✔️ Islamic AccountYes
🎉 Open An AccountOpen Account

 

Pepperstone 

 

Pros and Cons

✔️ Pros❌ Cons
Pepperstone Markets is a well-established brokerage firm specialising in Contracts for Difference (CFD) and forex trading. The company implements stringent protocols to secure the protection of client funds and the preservation of investor interests.The availability of fixed spreads is limited and not easily accessible. • Traders from Indonesia have restrictions in accessing trading accounts denominated in Indonesian Rupiah (IDR).
Pepperstone Markets accepts Indonesian traders, offering them the convenience of local deposit and withdrawal alternatives.The Islamic Account is subject to additional fees.
Pepperstone Markets is subjected to stringent regulatory oversight in several jurisdictions worldwide.The conversion process for the Islamic Account requires traders to submit evidence verifying their place of residence due to geographical restrictions.
Trading platforms can be accessible via a wide array of devices, and trading accounts provide favourable conditions for engaging in trading activities.
Retail accounts are furnished with a protective measure to mitigate negative balances, so ensuring the safety of account holders.
Alternative avenues such as social trading are accessible, affording consumers diverse means of participating in trading endeavours.
Moreover, there exists a comprehensive affiliate system that guarantees the establishment of a robust and efficient network of affiliates.

 

How to choose the best ECN Forex Broker in Indonesia

How to choose the best ECN Forex Broker in Indonesia 

 

Indonesian traders must evaluate the following components of an ECN Forex broker to decide whether the broker is suited to their unique trading objectives and/or needs. 

 

Regulations and Licenses 

This is the first important component that traders must thoroughly evaluate. Reputable brokers are regulated by market regulators such as FCA, ASIC, CySEC, FSCA, and others. Indonesians must beware when dealing with brokers that only have offshore regulations such as FSA, SVG BVI, FSC, and others. 

 

Account Features 

Account Features include leverage trading and margin requirements, commissions and spreads, initial deposits, additional features on retail investor accounts, and so on. 

 

Deposits and Withdrawals 

Indonesians must evaluate the payment options available, the processing times on withdrawal requests, deposit currencies offered, the withdrawal fee, deposit fees, and minimum withdrawal limits among other trading and non-trading fees. 

 

Range of Markets 

The range of markets offered refers to the number and range of tradable instruments that the broker offers. Indonesians must consider what they wish to trade and what is available. 

 

Customer Support 

Customer Support is another crucial factor and Indonesians must check the availability of support (trading hours), the quality of support, and the promptness with which the customer support team responds to queries. 

 

Trading Platform 

A trading platform is the Indonesian trader’s portal to the financial markets. Traders must ensure that the trading platform has the necessary technical indicators, fundamental analysis, technical analysis, economic calendar, charting, newsfeed, and other tools they may need. 

 

Education and Research 

Education and Research come in handy to both novice traders and experienced investors. Education includes some of the following: 

➡️ eBooks 

➡️ Trading guides 

➡️ Trading knowledge on leveraged products 

➡️ A risk warning on complex instruments 

➡️ Educational videos 

 

Research can include some of the following: 

➡️ Trading tools 

➡️ Commentary 

➡️ Status of International Markets 

➡️ Price movements 

➡️ Market sentiments 

➡️ Whether there is a volatile market 

➡️ Exchange Rates 

➡️ Expert opinions and several other resources can help experienced traders make informed trading decisions. 

A closer look at ECN trading for Indonesia 

A closer look at ECN trading for Indonesia 

 

An Electronic Communication Network (ECN) refers to a computerised platform that facilitates the direct dissemination of orders submitted by market participants to both individual traders and third-party entities. Subsequently, these orders are automatically executed through the process of matching purchase and sell orders, ensuring the attainment of the most favourable available price. 

 

ECN trading is a highly efficient process that utilises sophisticated technology. By establishing direct connections between all traders, regardless of their size, and liquidity providers, the necessity for an intermediary in transactions is eliminated. 

 

An ECN broker is frequently identified as a No Dealing Desk (NDD) broker, wherein the orders placed by clients are not channelled through a Dealing Desk. This arrangement facilitates the direct execution of trades between the involved parties. 

 

ECN trading provides narrower bid-ask spreads and greater market liquidity. The reason behind this is that the ECN broker consolidates quotes from several participants with the aim of offering you the most competitive bid/ask spreads available. The trading technique described is characterised by a high level of automation, resulting in the generation of real-time market quotations and the execution of trades with exceptional speed. 

 

This platform can be viewed as a marketplace where clients of brokers engage in trading activities with one another, enabling traders such as yourself to obtain the most favourable bargain currently accessible. 

 

The advantages of ECN trading in Indonesia 

The provision of price feed transparency is perceived by many individuals as a favourable outcome, mostly because to the manner in which the information is disseminated. All brokers operating under the Electronic Communication Network (ECN) framework possess equal access to a shared data feed and execute trades at the same price provided. 

 

A limited quantity of pricing history is also easily accessible, facilitating the examination of certain market trends in a more straightforward manner. The accessibility of current and historical information to all stakeholders serves as a deterrent against price manipulation, hence increasing the difficulty of engaging in unethical practices. 

 

Moreover, it can be argued that no trader possesses an intrinsic advantage over their counterparts, given they all possess equitable access to relevant information. 

 

The disadvantages of ECN trading in Indonesia 

One of the primary drawbacks associated with the utilisation of an Electronic Communication Network (ECN) pertains to the financial implications involved.

 

The fees and commissions associated with utilising an Electronic Communication Network (ECN) are frequently higher compared to non-ECN services.

 

The imposition of per-trade commissions can result in significant costs that can adversely affect a trader’s financial performance and overall profitability. 

 

Tips for successful ECN trading 

➡️ Bring a trading strategy 

The presence of a robust trading strategy is of utmost importance for achieving success in the forex market, irrespective of the chosen brokerage. When engaging in transactions with an Electronic Communication Network (ECN) forex broker, it is imperative to adapt one’s strategy to accommodate the distinctive characteristics of the ECN ecosystem. 

 

Due to their direct connection to the interbank market, ECN brokers are able to execute transactions at the most favourable market price available. Consequently, instances of slippage and requotes are less prevalent. 

 

➡️ Use an ECN broker that suits your needs 

Selecting the most suitable ECN forex broker is crucial for achieving success in trading. When choosing a broker, it is important to take into account several criteria, including but not limited to regulation, reputation, trading conditions, and customer service.  

 

It is advisable to seek brokers who possess authorization from reputable financial institutions, as this measure enhances the level of security for your funds. 

 

Furthermore, it is imperative to take into account the trading conditions of the broker, including factors like spreads, execution speed, leverage, and the range of available trading platforms.  

 

The spreads offered by ECN brokers are frequently characterised by competitiveness; however, it is crucial to engage in a thorough comparison of these spreads across various brokers to ascertain the attainment of the most favourable pricing. 

 

➡️ Research the ECN environment beforehand 

Prior to engaging with an ECN forex broker, it is imperative to possess a comprehensive understanding of the operational dynamics within the ECN ecosystem. In contrast to market makers, ECN brokers do not derive financial gains from the losses incurred by their clients. Instead, a nominal commission is levied for every executed trade.  

 

The use of a commission-based approach effectively mitigates the potential conflicts of interest between brokers and traders, as brokers are not financially incentivized by their clients’ losses. 

The Best Forex Brokers in Indonesia 

In this article, we have listed the best brokers that offer ECN trading to Indonesian traders. We have further identified the brokers that offer additional services and solutions to Indonesian traders. 

 

Best MetaTrader 4 / MT4 Forex Broker 

Overall Rating

Min Deposit

159 900 IDR or 10 USD

Regulators

CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA

Trading Desk

MetaTrader mobile, Exness Trade App, Exness Terminal, MetaTrader 5, MetaTrader 4, MetaTrader WebTerminal

Crypto

Yes

Total Pairs

107

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

Overall, Exness is the best MetaTrader 4 broker in Indonesia. Exness is a brokerage firm that many traders like because of its excellent regulatory history with multiple authorities and large leverage ratios. Exness is a wonderful alternative for Indonesian traders because it provides 24/7 customer service. 

 

Best MetaTrader 5 / MT5 Forex Broker 

Overall Rating

Min Deposit

100 USD / 1,571,515 IDR

Regulators

ASIC, FSA, CBI, BVI, FSCA, FRSA, CYCES, ISA, JFSA

Trading Desk

MetaTrader 4, MetaTrader 5, Ava Social, Ava Protect, Trading Central

Crypto

Yes

Total Pairs

55+

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

Overall, AvaTrade is the best MetaTrader 5 broker in Indonesia. AvaTrade, a respected brokerage firm, provides over 1,250 trading options in a variety of financial industry sectors. AvaTrade offers appealing trading environment by focusing on the needs of Indonesian traders. 

 

Best Forex Broker for beginners  

Overall Rating

Min Deposit

5 USD / 78,575 IDR

Regulators

FSCA, IFSC, ASIC, CySEC, DFSA

Trading Desk

MetaTrader 4, MetaTrader 5, XM Mobile App

Crypto

No

Total Pairs

57

Islamic Account

Yes

Trading Fees

No (Just spread)

Account Activation

24 Hours

 

Overall, XM is the best forex trading platform for beginners in Indonesia. XM supports a wide range of trading strategies, with a focus on establishing a welcoming environment for beginning traders. XM offers a wide range of materials to encourage extensive research and knowledge gain in the field of FX trading. 

 

Best Low Minimum Deposit Forex Broker 

Overall Rating

Min Deposit

5 USD / 78,476 IDR

Regulators

Financial Services Commission of Mauritius

Trading Desk

MT4, MT5

Crypto

Yes

Total Pairs

61+

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

Overall, Alpari is the best minimum deposit forex trading platform in Indonesia. Alpari makes it easy for Indonesian traders to make deposits and withdrawals by using regional techniques. Alpari offers low commissions and competitive spreads. Alpari, a financial organisation that offers a trading application, also provides a software program for copy trading. 

 

Best ECN Forex Broker 

Overall Rating

Min Deposit

200 USD / 3,143,030 IDR

Regulators

ASIC, CySEC, FSA, SCB

Trading Desk

MetaTrader 4, MetaTrader 5, cTrader, IC Social, Signal Start, ZuluTrade

Crypto

Yes

Total Pairs

65

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

Overall, IC Markets is the best ECN forex trading broker in Indonesia. IC Markets is a prominent ECN trader with an impressive track record of accomplishments. Hedging, scalping, and other trading techniques are among those supported by the brokerage firm IC Markets. They also offer accounts with lower transaction fees, accounts with Islamic values, and demo accounts. 

 

Best Islamic / Swap-Free Forex Broker 

Overall Rating

Min Deposit

50 USD / 785,757 IDR

Regulators

FCA

Trading Desk

MetaTrader 4, Trading Station

Crypto

Yes

Total Pairs

7

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

Overall, FXCM is the best Islamic/swap-free forex trading platform in Indonesia. FXCM, a well-known international corporation, specialises in providing services connected to retail and institutional foreign exchange (currency) trading. FXCM has had the distinction of being the first Forex broker to be listed on the famous New York Stock Exchange (NYSE: FXCM) since its inception in 1999. 

 

Best Forex Trading App 

Overall Rating

Min Deposit

10 USD / 157,151 IDR

Regulators

CySec, FSC

Trading Desk

MT4, MT5, Mobile Trading

Crypto

Yes

Total Pairs

60+

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

Overall, FXTM has the best forex trading app in Indonesia. FXTM provides three live trading accounts in addition to a selection of cutting-edge trading tools. Any FXTM trade account entitles you to a demo account. 

 

Best Forex Rebates Broker 

Overall Rating

Min Deposit

100 USD / 15,715,150 IDR

Regulators

CySec, FSCA, FCA

Trading Desk

FxPro Trading Platfrom

Crypto

Yes

Total Pairs

70+

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

Overall, FxPro is the Best Forex Rebates Broker in Indonesia. FxPro is a UK-based brokerage firm that specialises in Straight Through Processing (STP) and Electronic Communication Network (ECN) services.  

 

Retail traders may be eligible for monthly direct transfers of up to 30% in forex cashback rebates into their trading accounts. 

 

Best Lowest Spread Forex Broker 

Overall Rating

Min Deposit

100 USD / 1,555,300 IDR

Regulators

Seychelles FSA, FCA, CySEC, Labuan FSA, FSCA

Trading Desk

MT4, MT5, Tickmill Mobile

Crypto

Yes

Total Pairs

62

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

Overall, Tickmill is the best lowest spread forex trading platform in Indonesia. Tickmill is an affordable broker that supports a wide range of trading approaches. Tickmill account holders have access to a number of funding sources that allow them to make deposits without incurring any additional costs. This facilitates users’ trading activity. 

 

Best Nasdaq 100 Forex Broker 

Overall Rating

Min Deposit

IDR 0 or USD 0

Regulators

FSCA, CySEC, DFSA, FSA, FCA, FSC, CMA 

Trading Desk

MetaTrader 5, MetaTrader 4, HFM App

Crypto

Yes

Total Pairs

50+

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

Overall, HFM is the best Nasdaq 100 forex trading platform in Indonesia. HFM has a low minimum deposit requirement for opening an account, as well as a large range of training materials to help beginning traders. HF Markets offers a maximum leverage of 1:1000. 

 

Best Volatility 75 / VIX 75 Forex Broker 

Overall Rating

Min Deposit

0 USD / 0 IDR

Regulators

FCA, BaFin CySEC, FINMA, DFSA, FSCA, MAS, JFSA, ASIC, FMA, CFTC, NFA, BMA

Trading Desk

MetaTrader 4, IG Platform, ProRealTime (PRT), L2 Dealer, FIX API

Crypto

Yes

Total Pairs

80

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

Overall, IG is the best Volatility 75/VIX 75 forex trading platform in Indonesia. Indonesian traders can now enrol in the IG Academy. Experienced traders can use a wide choice of cutting-edge trading instruments. 

 

Best NDD Forex Broker 

Overall Rating

Min Deposit

100 USD / 1,625,795 IDR

Regulators

ASIC, CySEC, FSCA, FSA, FSC 

Trading Desk

MetaTrader 4, MetaTrader 5, IRESS, cTrader, FP Markets App

Crypto

Yes

Total Pairs

70+

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

Overall, FP Markets is the best NDD forex trading broker in Indonesia. At FP Markets, there are several options to deposit and withdraw funds. FP Markets uses a well-known Electronic Communication Network (ECN) pricing mechanism with competitive and modest spreads. 

 

Best STP Forex Broker 

Overall Rating

Min Deposit

0 USD / 0 IDR

Regulators

FSCA, CySEC, DFSA, FSA, FCA, FSC, CMA

Trading Desk

MetaTrader 4, OANDA Platform, TradingView

Crypto

Yes

Total Pairs

45

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

Overall, Oanda is the best STP forex trading broker in Indonesia. When using Oanda’s advanced trading tools, there is no need to make a minimum deposit. Oanda provides a variety of dependable and adaptable supplemental trading tools. 

 

Best Sign-up Bonus Broker 

Overall Rating

Min Deposit

10 USD / 157,151 IDR

Regulators

FSC

Trading Desk

R StocksTrader, RoboForex terminals, MetaTrader 4, MetaTrader 5

Crypto

Yes

Total Pairs

40+

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

 

Overall, RoboForex is the best sign-up bonus forex trading platform in Indonesia. RoboForex provides new users with a hefty 100% bonus on their initial deposits and allows traders to trade a wide range of financial products. 

Conclusion

Overall, Indonesian forex traders can derive advantages in terms of competitive pricing and expeditious trade execution when interacting with ECN Forex brokers.

 

It is advisable for traders in Indonesia to consistently align themselves with regulated and reputable ECN Forex brokers.

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Frequently Asked Questions

What are the benefits of an ECN account? 

Trading with a real ECN broker provides greater anonymity than trading with other brokers. This implies you can benefit from the current market conditions. You will also be able to trade objectively. ECN brokers also provide quick execution times and tight spreads, which can help you make more money. 

 

Do ECN brokers trade against you? 

An ECN broker can only match deals made by other market players and cannot trade against the client. ECN spreads are frequently narrower than those used by traditional brokers, although consumers are still charged a fixed commission each transaction. 

 

Is ECN good for scalping? 

ECN (Electronic Communication Network) brokers are the greatest sort of forex scalping brokers since they give traders direct access to the interbank market. This means that traders can execute trades fast and at the best available pricing without the broker’s intervention. 

 

Which is better ECN or STP? 

ECN brokers are thought to be more trustworthy. STP brokers can route orders to any of their liquidity providers, such as banks or interbank exchanges, whereas ECN brokers can only route orders to the interbank market. 

 

How do I know if a broker is ECN? 

In their customer agreement, an ECN broker will state whether they are a true ECN or an ECN by association. Any forex broker who claims to be an ECN forex broker must disclose this information to its clients. If the broker does not do this, it is possible that they are not an ECN forex broker

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