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Forex Brokers Indonesia

5 Best Low Spread Forex Brokers in Indonesia

The 5 Best Forex brokers in Indonesia with the lowest spreads have been announced. Our team has researched several prominent foreign exchange brokers in Indonesia, and we have compiled a list of the top five Forex brokers which offer the best trading conditions for traders in search of low spreads. 

In this in-depth guide you’ll learn: 

  • What is a Low Spread Forex Broker?
  • Who are the top brokers with the lowest spreads?
  • Pros and cons of each broker.
  • Common FAQs regarding Low Spread Forex Brokers.

 

And lots more… 

So, if you’re ready to go “all in” with the 5 Best Low Spread Forex Brokers in Indonesia 

Let’s dive right in… 

Updated : July 2, 2024

5 best low-spread Forex brokers in Indonesia – Comparison 

🥇 Broker💰 Minimum Deposit👉 Open an Account🎉 Minimum Spread🔎 Regulation
1. ExnessIDR 162,640 or USD 10Open Account0.0 PipsFSCA, CySEC, FSA, FSC, CBCS, CMA, FCA, FSC BVI
2. AvaTradeIDR 1,601,246.24 or USD 100Open Account0.9 PipsFSCA, ASIC, CBI, BVI FSC, CySEC, JFSA, IIROC, FFAJ, ADGM, ISA, KNF
3. HFMIDR 81,340 or USD 5Open Account0.0 PipsCySEC, FSCA, CMA, FCA, DFSA, FSA, FSC
4. FP MarketsIDR 162,640 or USD 10Open Account0.0 PipsFSCA, ASIC, CySEC, FSA, SVG
5. FXTMIDR 162,640 or USD 10Open Account0.1 PipsFSCA, CySEC, CMA, FCA, FSC Mauritius

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 a low-spread Forex broker? 

A low-spread Forex broker offers more affordable trading conditions for traders. Forex brokers often display very small spreads between the buy and sell prices of currency pairs. Because even a little reduction in cost per trade can greatly influence overall profitability, this reduced cost is vital for high-frequency traders who make a large number of trades quickly. 

5 Best Low-spread Forex Brokers in Indonesia Summary

  1. ☑️Exness – Overall Best Low spread Forex Broker
  2. ☑️AvaTradeBest Regulated Forex Broker
  3. ☑️HFM – Several Account Types Available for Different Traders
  4. ☑️FP MarketsLow Minimum Deposit Required to Start Trading
  5. ☑️FXTMMassive Range of Markets Across Several Asset Clauses

1. Exness 

Exness review

 

Exness’s incredibly low spreads—which start at 0.0 pips—are a major advantage when trading prominent currency pairs like EUR/USD. Traders in Indonesia looking to keep costs down will find the broker’s accounts appealing due to the low spreads and affordable commission rates.  

 

The fact that Exness follows all of Indonesia’s strict financial standards gives traders there peace of mind. By following the rules set out by respectable financial organizations, the broker gives traders confidence that their money is safe.  

 

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

 

If you’re trying to cut down on trading fees, Exness is a great option because of its dedication to providing great service and inexpensive trading charges. A favourable environment for traders is created when there is solid regulatory compliance, fair commissions, and tight spreads.  

 

Unique Features 

🏛️ RegulationFSCA, CySEC, FSA, FSC, CBCS, CMA, FCA, FSC BVI
🗪 BAPPEBTI Regulated?No
📧 Trading AccountsStandard Account
Professional Account
Raw Account
Zero Account
Social Account
Demo Account
💻 Trading PlatformMetatrader 4 (MT4)
Metatrader 5 (MT5)
Exness Terminal
Exness Trade App
📜 IDR-based Account?Yes
💰 IDR Deposits Allowed?Yes
🔁 Trading AssetsForex, Cryptocurrencies, Indices, Commodities, Stocks
🚀 Minimum Deposit159 900 IDR ($10) (Depends on payment system)
💱 Minimum Spread0.0 Pips
⚙️Average Spread0.01 Pips
✔️ Execution Speed25ms
🌐 Order ExecutionMarket Execution and Instant Execution
🎉 Open An AccountOpen Account

 

Exness - Low Spread Forex Brokers

 

Pros and Cons 

✅ Pros❌ Cons
Exness offers etremely low spreads on popular currency pairs starting at 0.0 pips.In times of limited liquidity or strong market volatility, spreads might expand.
Traders benefit from high-frequency trading and scalping methods.Although Exness offers popular trading platforms, choices are limited.
Traders gain access to top-tier liquidity providers’ deep liquidity.Dormant accounts are subject to inactivity fines.
Exness offers competitive pricing with transparent commission costs.There is a chance of slippage with Exness when market volatility or liquidity is low. A traders’ order’s execution price can end up being different from what’s anticipated, leading to unforeseen losses.
There are a variety of account options available, including the lowest spread Raw Spread Accounts.Commission fees per trade tend to be greater when using Exness, despite their low spreads. Particularly for heavy traders or those dealing in larger quantities, this might drive up the total cost of trading.

 

 

 

Our Insight

To sum up, Exness provides an attractive bundle for traders, especially those who value quick execution and cheap trading fees. It is a dependable option for traders in Indonesia and abroad due to its focus on offering high-quality service and compliance with regulations.  

2. AvaTrade 

AvaTrade Review

 

AvaTrade offers a wide range of trading options, including Forex, commodities, indices, cryptocurrencies, and stocks. AvaTrade provides variable and fixed spreads, allowing traders to choose the option that best aligns with their trading strategies. 

 

Market conditions with AvaTrade allow for spreads as low as 0.9 pips for major currency pairs such as EUR/USD and GBP/USD. This is particularly beneficial for traders who seek cost-effective trading solutions without unexpected pricing fluctuations. AvaTrade’s transparent pricing ensures that traders in Indonesia can trade without surprises. 

 

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

 

We discovered that AvaTrade is regulated by multiple financial institutions, which enhances its credibility and provides traders with peace of mind regarding the safety and security of their funds. This regulatory oversight ensures that the broker operates under strict guidelines, fostering a trustworthy trading environment. 

 

For traders looking for affordable trading solutions, AvaTrade’s combination of low spreads, flexible spread options, and strong regulatory compliance makes it a compelling choice. The broker’s diverse range of trading instruments and commitment to transparency further solidify its position as a reliable option for traders in Indonesia and globally. 

 

Unique Features 

🏛️ RegulationFSCA, ASIC, CBI, BVI FSC, CySEC, JFSA, IIROC, FFAJ, ADGM, ISA, KNF
🗪 BAPPEBTI Regulated?No
📧 Trading AccountsStandard Account
Retail Account
Professional Account
Options Account
Corporate Account
Islamic Account
Demo Account
💻 Trading PlatformMetaTrader 4 (MT4)
MetaTrader 5 (MT5)
AvaTrade WebTrader
AvaOptions
AvaTradeGO
AvaSocial
ZuluTrade
DupliTrade
📜 IDR-based Account?No
💰 IDR Deposits Allowed?No
🔁 Trading AssetsForex, Crypto, Bonds, Precious Metals, Indices, CFDs, ETFs, Stocks, Commodities, Options, Treasuries
🚀 Minimum DepositIDR 1,601,246.24 or USD 100
💱 Minimum Spread0.9 Pips
⚙️Average Spread1.1 Pips
✔️ Execution Speed100ms
🌐 Order ExecutionInstant Execution
🎉 Open An AccountOpen Account

 

AvaTrade - Low Spread Forex Brokers

 

Pros and Cons 

✅ Pros❌ Cons
AvaTrade has some of the lowest spreads in the business, beginning at just 0.9 pips for popular currency pairs like the EUR/USD.Unfortunately, AvaTrade is not regulated with BAPPEBTI. However, it is regulated by 7 of the most prominent financial institutions across 6 continents, insuring security for traders.
Regardless of market conditions, traders may rest assured that AvaTrade’s fixed spreads will remain constant.AvaTrade does not allow IDR accounts.
AvaTrade has a wide selection of trading instruments that offer low spreads.Direct IDR deposits options are not available, but the broker provides several other currency options through currency conversion.
Multiple account choices are available to traders, each with competitive spreads, so they can choose the one that best suits their trading style.Only when trading with AvaTrade’s MetaTrader 5 can the complete list of financial instruments be accessed.
In addition to its very low spreads, AvaTrade offers a safe trading environment thanks to its regulations by many authorities.The higher commission rates each trade more than make up for AvaTrade’s low spreads. Particularly for heavy traders or those dealing in larger quantities, this might drive up the total cost of trading.
Traders can take advantage of competitive spreads with a little initial commitment thanks to AvaTrade’s low minimum deposits.Traders run the risk of incurring unforeseen losses if orders are executed at a different price than anticipated when market volatility or liquidity is low.

 

 

 

Our Insight

In summary, AvaTrade offers a powerful trading platform with the flexibility and security that traders in Indonesia need. Its award-winning status, regulatory oversight, and low-cost trading options make it an attractive choice for those seeking a dependable and efficient trading experience. 

3. HFM 

HFM review

 

HFM is a well-known broker that focuses on commodities and foreign exchange. It has several different kinds of accounts to meet the needs of different traders, including low-spread accounts. For traders in Indonesia seeking to reduce trading costs, HFM’s relatively low spreads—beginning at 0.0 pips for major currency pairs—are a prominent feature.  

 

The safety and transparency of Indonesian traders’ transactions are guaranteed by HFM’s strict adherence to laws set by various financial institutions. We believe traders can rest well knowing the broker is backed by multiple respectable regulatory bodies. This regulatory scrutiny guarantees that HFM maintains a high level of honesty and openness in its operations. 

 

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

 

To cater to traders with varying tastes and trading methods, HFM provides a number of account kinds beyond its low-spread accounts. Traders who value reduced trading expenditures will find the broker’s dedication to providing cost-effective trading solutions to be a strong suit. The fact that HFM is a reputable broker and has a stellar reputation around the world doesn’t hurt either.  

 

Unique Features 

🏛️ RegulationCySEC, FSCA, CMA, FCA, DFSA, FSA, FSC
🗪 BAPPEBTI Regulated?No
📧 Trading AccountsCent Account
Zero Account
Pro Account
Pro Plus Account
Premium Account
💻 Trading PlatformMetatrader 4 (MT4)
Metatrader 5 (MT5)
HFM Platform
📜 IDR-based Account?No
💰 IDR Deposits Allowed?No
🔁 Trading AssetsForex, Energies, Bonds, Crypto, Shares, Precious Metals, Indices, Commodities, ETFs
🚀 Minimum DepositIDR 81,340 or USD 5
💱 Minimum Spread0.0 Pips
⚙️Average Spread1.2 Pips
✔️ Execution Speed30-70ms
🌐 Order ExecutionMarket Execution
🎉 Open An AccountOpen Account

 

HFM

 

Pros and Cons 

✅ Pros❌ Cons
Spreads on popular currency pairs start at 0.0 pips on HFM, making them among the industry’s lowest. Particularly for high-frequency traders, this can drastically cut trading expenses.HFM does not support IDR accounts, but due to its powerful platform offerings and wide variety of trading instruments, HFM continues to be a popular alternative.
A variety of trading accounts are available from the broker. Spreads are competitive across all account types, so traders may pick the one that works best for them.Although HFM does not allow IDR deposits, traders in Indonesia are still able to trade with HFM through currency conversion.
HFM is overseen by several respectable financial institutions, providing a safe trading environment because of the multi-jurisdictional regulation.HFM is not regulated with BAPPEBTI, but traders can rest assured that it is a trusty and well-regulated broker.
With HFM, you can trade a variety of instruments with attractive spreads. Traders can readily diversify their portfolios thanks to this diversity.Traders may feel that the high leverage provided by HFM is too risky.

 

 

 

Our Insight

Traders from all around the globe, including Indonesia, are drawn to HFM due to its numerous account options, minimal spreads, and strong regulatory environment. If you are a trader looking for a trustworthy and inexpensive trading platform, you will appreciate the broker’s commitment to openness and efficiency.  

4. FP Markets 

FP Markets Review

 

One of the most prominent names in the trading market, FP Markets, is famous for its highly competitive services. We examined FP Markets’ spreads and found the broker offers spreads as low as 0.0 pips on important currency pairs, making it a great choice for traders looking for cost-effective trading conditions.  

 

Trading with FP Markets is safe and open because they are regulated by respectable financial authorities. Brokers can rest easy knowing they are subject to stringent regulations thanks to this oversight. The broker’s state-of-the-art platforms are designed to accommodate different trading techniques, so they can meet the preferences of all traders. 

 

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

 

Because of its dedication to low spreads, quick execution speeds, and thorough customer support, FP Markets stands out for Indonesian traders. For individuals seeking to maximize their trading experience, FP Markets is a trustworthy and appealing option thanks to these qualities. The broker’s commitment to openness and strong regulatory framework further contribute to its confidence and trustworthiness among traders.  

 

Unique Features 

🏛️ RegulationFSCA, ASIC, CySEC, FSA, SVG
🗪 BAPPEBTI Regulated?No
📧 Trading AccountsStandard Account
Raw Account
Islamic Account
Demo Account
💻 Trading PlatformMetatrader 4 (MT4)
Metatrader 5 (MT5)
WebTrader
Mobile Trader
Mobile Trading App
cTrader
📜 IDR-based Account?No
💰 IDR Deposits Allowed?Yes
🔁 Trading AssetsCFDs across Forex, Cryptocurrencies, Indices, Shares, Commodities, Bonds & ETFs
🚀 Minimum DepositIDR 162,640 or USD 10
💱 Minimum Spread0.0 Pips
⚙️Average Spread0.01 Pips
✔️ Execution Speed35ms
🌐 Order ExecutionMarket
🎉 Open An AccountOpen Account

 

FP Markets

 

Pros and Cons 

✅ Pros❌ Cons
FP Markets is a well-known Forex company regulated by a variety of financial regulatory authorities.FP Markets does not offer any bonuses for traders.
The low spreads that this company offers, as low as 0.0 pips, allow traders to lower costs when trading.Unfortunately, FP Markets are not registered with BAPPEBTI, the Commodity Futures Trade Supervisory Board in Indonesia.
FP Markets offers traders access to a wide selection of markets, including more than 10 000 CFD products, giving traders an opportunity to speculate on price movements in various financial markets.Although FP Markets does not allow IDR based account, traders in Indonesia can easily do IDR deposits.
Funds can easily be withdrawn via a variety of methods.Spreads on FP Markets’ Standard account may be too wide for some traders.
No commission is charged on FP Markets’ Standard Account.If not used frequently, FP Markets’ Demo Account may expire.

 

 

 

Our Insight

The combination of FP Markets’ cheap trading costs, cutting-edge technology, and stringent regulatory compliance positions it as a leading option for traders worldwide, including in Indonesia. 

5. FXTM 

FXTM review

 

FXTM (ForexTime) provides traders with a wide variety of tools and cheap spreads. Indonesian traders can take advantage of FXTM’s low spreads on key currency pairs.  

 

We discovered that FXTM is a good fit for both seasoned traders and those just starting out who are trying to save trading expenses. By following the rules established by various financial regulators, FXTM creates a safe space for traders.  

 

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

 

In conclusion, traders in Indonesia seeking a balance between cost-efficiency and high standards of safety and service will find FXTM to be the ideal broker due to its competitive pricing, wide selection of trading products, and strong regulatory framework. 

 

Unique Features 

🏛️ RegulationFSCA, CySEC, CMA, FCA, FSC Mauritius
🗪 BAPPEBTI Regulated?No
📧 Trading AccountsMicro Account
Advantage Account
Advantage Plus Account
Islamic Account
Demo Account
💻 Trading PlatformMetaTrader 4
MetaTrader 5
FXTM Trader
📜 IDR-based Account?No
💰 IDR Deposits Allowed?Yes
🔁 Trading AssetsForex, Cryptos, Indices, Metals, Stocks, Commodities
🚀 Minimum DepositIDR 162,640 or USD 10
💱 Minimum Spread0.0 Pips
⚙️Average Spread1.5 Pips
✔️ Execution Speed150ms
🌐 Order ExecutionMarket Execution and Instant Execution
🎉 Open An AccountOpen Account

 

FXTM

 

Pros and Cons 

✅ Pros❌ Cons
FXTM provides a low-cost trading environment, which offers starting spreads as low as 0.0 pips.FXTM lacks a bigger variety of account types.
Traders can make the most of their positions with a minimal investment thanks to leverage levels up to 1:2000.The broker is not regulated by the local financial institution, BAPPEBTI.
Trading with FXTM is easy and powerful thanks to their support for MetaTrader 4, MetaTrader 5, and their own platform, FXTM Trader.Inactivity fees are charged on dormant accounts.
A safe and legal trading environment is guaranteed by FXTM’s regulation by leading financial agencies such as CySEC, FCA, FSCA, and others.No customer support is offered during weekends or public holidays.
Traders in Indonesia and all over the world can take advantage of FXTM’s convenient local payment alternatives for deposits and withdrawals.No customer support is offered during weekends or public holidays.

 

 

 

Our Insight

ForexTime (FXTM) is a great option for traders looking to decrease costs without sacrificing security or service quality due to its low spreads, fast execution, and powerful regulatory monitoring. These qualities highlight FXTM’s attractiveness as a reliable trading partner in the financial markets for traders in Indonesia.  

Conclusion

We came to some interesting conclusions after researching the top five low-spread Forex brokers for Indonesian traders. Different types of traders will find more success with different brokers because each one has their own set of advantages and disadvantages.   

 

Traders in Indonesia may find themselves constrained due to their differing support for IDR accounts. While one broker does provide a number of account options and spreads as low as 0.0 pips, they are not regulated in Indonesia and do not support IDR. 

 

Another one wows with cutting-edge trading platforms and cheap spreads, but they don’t accept IDR deposits or accounts. Brokers that are more accessible to Indonesian traders because of competitive spreads and IDR deposits are not regulated with BAPPEBTI, whereas others are well-regulated and offer extremely low spreads, but it doesn’t work with IDR accounts.  

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Frequently Asked Questions

Traders can retain a larger portion of their gains when spreads are kept low. People who trade a lot or deal frequently will benefit the most from this.

To make up for the small spreads they offer, low-spread brokers usually charge a commission for each trade or have other ways to make money, like overnight financing costs.

There are low-spread brokers that have set spreads and others that have variable spreads that fluctuate with the market. Having a fixed spread might be a great asset when the market is very unpredictable.

Accounts denominated in IDR are not always supported by low spread brokers. For Indonesian traders in particular, it is critical to verify that the broker provides account alternatives that accommodate their currency requirements.

Trading costs can be affected by commission fees and other charges, even though low-spread brokers can lower such costs. Furthermore, when the market is unpredictable, trading circumstances can change.

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