Scam Forex Brokers in Indonesia
5 Best NDD Forex Brokers in Indonesia
After extensive study and carefully reviewing numerous brokers, we have compiled a list of the 5 Best NDD Forex Brokers in Indonesia.
This all-inclusive guide will teach you:
- What is an NDD Forex Broker?
- Who are the top NDD Forex brokers in Indonesia?
- Pros and cons of each broker
- Common FAQs regarding NDD Forex Brokers
And lots more…
So, if you’re ready to go “all in” with the 5 Best NDD Forex Brokers in Indonesia…
Let’s dive right in…
- Kayla Duvenage
5 Best NDD Forex Brokers in Indonesia – Comparison
| 🥇 Broker | 💰 Minimum Deposit | 👉 Open an Account | 📱Minimum Spread | 🏛️ Regulation |
| 1. HFM | 0 IDR ($0) | Open Account | 0.0 Pips | FSA, CySEC, CMA, FSCA, FCA, FCS, DFSA |
| 2. AvaTrade | 1 624 060 IDR ($100) | Open Account | 0.9 Pips | ASIC, CySEC, CBI, FSCA, BVI FSC, ISA, JFSA, KNF, ADGM, FFAJ, IIROC |
| 3. Exness | 16 467 IDR ($10) | Open Account | 0.0 Pips | FCA, CySEC, FSCA, FSA, CBCS, BVI, FSC, FSC CMA |
| 4. Pepperstone | 2 151 822.44 IDR (AU$200) | Open Account | 0.0 Pips | ASIC, CySEC, BaFin, FCA, CMA, DFSA, SCB |
| 5. IC Markets | 3 248 420.00 IDR ($200) | Open Account | 0.0 Pips | ASIC, CySEC, FSA, SCB |
Top 10 Forex Brokers
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What is an NDD Forex broker?
Our research on Indonesian NDD (No Dealing Desk) brokers has shown that local traders benefit greatly from this trading approach. More open and competitive trading conditions are made possible by NDD brokers’ direct access to the interbank market. If you are an Indonesian trader looking for a more streamlined and equitable trading environment, this configuration is for you.
There are several Indonesian NDD brokers that use cutting-edge tech to connect traders with liquidity providers. Without going via a dealing desk, orders are executed at the best available prices because of this direct market access. As a result, traders enjoy faster execution speeds and less slippage, both of which are essential for successfully executing trading strategies, particularly in a dynamic market.
With NDD trading in Indonesia, such conflicts of interest are eliminated, which is a major advantage. There is no motive for NDD brokers to manipulate prices since they do not engage in hedging their clients’ contracts. The key to successful trading in the long run is establishing trust and confidence among traders, and this is achieved through openness. Furthermore, variable spreads, offered by many NDD brokers, mimic real-time market conditions and make trading feel more genuine.
Nevertheless, keep in mind that NDD brokers usually demand larger starting deposits and could have variable spreads that get wider in times of extreme volatility or low liquidity. Traders in Indonesia would do well to anticipate these shifts and adjust their trading tactics appropriately.
Traders from Indonesia can rest assured that NDD brokers provide a trading platform that is open, fast, and fair. NDD brokers support a more genuine trading experience because they give direct access to the market and remove conflicts of interest. Assuming they are well-versed in the regulations and fees involved, traders in Indonesia stand to gain a lot from this strategy.
5 best NDD Forex brokers in Indonesia Summary
- ☑️HFM – Overall, Best NDD Forex Broker
- ☑️AvaTrade – Best Regulated Forex Broker
- ☑️Exness – Massive Range of Markets Across Several Asset Clauses
- ☑️Pepperstone – Provides Attractive Spreads
- ☑️IC Markets – Has a Strong Reputation in Indonesia
1. HFM
Bypassing intermediaries and accessing the interbank market directly is possible with HFM (previously HotForex), a No Dealing Desk (NDD) broker. We found that HFM’s NDD approach offers numerous benefits to Indonesian traders, including faster execution speeds and tighter spreads.
Overall Rating
- 4.8/5
Min Deposit
IDR 0 or USD 0
Regulators
FSCA, CySEC, DFSA, FSA, FCA, FSC, CMA
Trading Desk
MetaTrader 5, MetaTrader 4, HFM App
Crypto
Total Pairs
50+
Islamic Account
Trading Fees
Account Activation
To ensure efficient and transparent trading, the broker employs state-of-the-art trading technology. Every order is executed by the NDD model at the best available rate from many liquidity providers, minimizing the chance of price manipulation. Due to the platform’s powerful data centres and servers, HFM offers traders in Indonesia the benefit of extremely fast order execution. This is of the utmost importance for those employing scalping strategies, as every millisecond counts.
Unique Features
| 🏛️ Regulation | FSA, CySEC, CMA, FSCA, FCA, FCS, DFSA |
| 📜 BAPPEBTI Regulation | No |
| 📧 Trading Accounts | Cent Account Zero Account Pro Account Pro Plus Account Premium Account |
| 💻 Trading Platforms | HFM Platform MetaTrader 4 MetaTrader 5 |
| 🚀 Trading Assets | Forex, Crypto, Energies, Commodities, Metals, Stocks, ETFs, Indices, Bonds |
| 💰 Commission | 0 IDR ($0) on some accounts, 97 443.60 IDR ($6) per lot on Zero Spread |
| ✔️ Scalping and Hedging | Allowed |
| 📧 IDR Account | No |
| 📧 IDR Deposits | Yes |
| 💱 Minimum Deposit | 0 IDR ($0) |
| 📊 Minimum Spread | 0.0 Pips |
| 🔁 Order Execution | Market Execution |
| 🗪 Execution Speed | 30-70ms |
| 🎉 Open An Account | Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| High-frequency traders and scalpers rely on HFM’s NDD model for fast trade execution. | The Zero Spread account is one example of an account type that charges a commission fee, which can increase the overall cost of trading. |
| HFM is able to deliver competitive spreads since it sources pricing from many liquidity suppliers. | Trading costs may rise if spreads widen during times of extreme volatility. |
| Price transparency and lack of manipulation are guaranteed by the NDD paradigm, which removes dealing desk interference. | Convenience for traders in Indonesia may be hindered by HFM’s lack of IDR-based accounts. |
| The elimination of requotes is a boon to traders since it enables them to execute orders precisely at the prices they want. | The range of account kinds can be intimidating for beginning traders, adding complexity to the process. |
| HFM is compatible with the industry-leading MetaTrader 4 and MetaTrader 5, giving traders in Indonesia highly reliable platform services. | Premium accounts, for example, have a greater minimum deposit than other types of accounts, which could be prohibitive for newcomers. |
Our Insight
Skilled traders may trust HFM because of its honest pricing and the fact that it does not use requotes, which enhances trading accuracy. The broker offers a variety of accounts to suit the needs of its Indonesian customers, including Islamic accounts that adhere to Sharia law and do not include swaps.
2. AvaTrade
By eliminating the requirement for a traditional dealing desk—a factor that could slow down transaction execution—Avatrade’s No Dealing Desk (NDD) model provides traders with instantaneous market access. The broker’s network of liquidity providers ensures fast and transparent deal execution.
Traders in Indonesia may take advantage of AvaTrade’s competitive spreads and low latency to execute trades quickly and favourably at favourable prices. Modern trading platforms offered by the broker are AvaTradeGO, MetaTrader 4, and MetaTrader 5, allowing traders to access the broker’s state-of-the-art capabilities.
Overall Rating
- 4.8/5
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
Total Pairs
55+
Islamic Account
Trading Fees
Account Activation
Indonesian traders get access to AvaTrade’s extensive instructional resources and multilingual customer service. Since the broker is serious about adhering to rules in many countries, you can have trust in them.
Unique Features
| 🏛️ Regulation | ASIC, CySEC, CBI, FSCA, BVI FSC, ISA, JFSA, KNF, ADGM, FFAJ, IIROC |
| 📜 BAPPEBTI Regulation | No |
| 📧 Trading Accounts | Professional Account Corporate Account Retail Account Standard Account Options Account Islamic Account Demo Account |
| 💻 Trading Platforms | MetaTrader 4 MetaTrader 5 AvaTrade WebTrader ZuluTrade AvaTradeGO AvaOptions AvaSocial DupliTrade |
| 🚀 Trading Assets | Crypto, Commodities, Indices, Forex, Bonds, CFDs, Precious Metals, Options, ETFs, Treasuries, Stocks |
| 💰 Commission | $0 |
| ✔️ Scalping and Hedging | Allowed |
| 📧 IDR Account | No |
| 📧 IDR Deposits | No |
| 💱 Minimum Deposit | 1 624 060 IDR ($100) |
| 📊 Minimum Spread | 0.9 Pips |
| 🔁 Order Execution | Market Execution |
| 🗪 Execution Speed | 100ms |
| 🎉 Open An Account | Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| The elimination of dealing desks allows for unfettered access to the interbank market and guarantees openness and transparency. | Novice traders in Indonesia have access to a wealth of instructional materials and tools that can help them hone their craft. |
| AvaTrade provides a wide range of platforms, including MetaTrader 4, MetaTrader 5, and AvaTradeGO, to meet the needs of traders with diverse preferences. | Novice traders in Indonesia have access to a wealth of instructional materials and tools that can help them hone their craft. |
| Novice traders in Indonesia have access to a wealth of instructional materials and tools that can help them hone their craft. | Spreads can expand during periods of extreme volatility, which could lead to an increase in costs. |
| Traders can save money using AvaTrade’s competitive spreads. | The multiplicity of platforms could be overwhelming for newcomers, leading to complex platform navigation. |
| Traders in Indonesia can take use of the offered multilingual customer assistance. | The multiplicity of platforms could be overwhelming for newcomers, leading to complex platform navigation. |
Our Insight
With AvaTrade’s NDD methodology, there are no conflicts of interest between the broker and traders since the broker does not take a stand against the trade. Because of this, traders don’t have to worry about anything but getting the best execution possible.
3. Exness
By utilizing Exness’s No Dealing Desk (NDD) concept, Indonesian traders gain direct access to the interbank market. With this setup, trades can be executed more quickly and at better prices by utilizing the best available rates from multiple liquidity sources.
When they work with Exness, Indonesian traders have access to the reliable and feature-rich MetaTrader 4 and MetaTrader 5 platforms. A smooth trading experience is achieved by utilizing the broker’s NDD model, which eliminates requotes and reduces slippage.
Overall Rating
- 4.9/5
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
Total Pairs
107
Islamic Account
Trading Fees
Account Activation
The low trading fees and attractive spreads offered by Exness are a huge boon to Indonesian traders who employ high-frequency or scalping tactics. The broker caters to traders of all experience levels with a range of account types, including Standard and Pro accounts.
Unique Features
| 🏛️ Regulation | FCA, CySEC, FSCA, FSA, CBCS, BVI, FSC, FSC CMA |
| 📜 BAPPEBTI Regulation | No |
| 📧 Trading Accounts | Standard Account Standard Cent Account Pro Account Raw Spread Account Zero Account |
| 💻 Trading Platforms | MetaTrader 4 (MT4) MetaTrader 5 (MT5) WebTrader Exness Trade App Exness Terminal |
| 🚀 Trading Assets | Crypto, Indices, Energies, Forex, Stocks, Commodities |
| 💰 Commission | 0 IDR ($0) on Standard, 56 847.35 IDR ($3.5) per lot on Raw Spread |
| ✔️ Scalping and Hedging | Allowed |
| 📧 IDR Account | Yes |
| 📧 IDR Deposits | Yes |
| 💱 Minimum Deposit | 16 467 IDR ($10) |
| 📊 Minimum Spread | 0.0 Pips |
| 🔁 Order Execution | Market Execution |
| 🗪 Execution Speed | 25ms |
| 🎉 Open An Account | Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Trades executed quickly and reliably with little slippage are guaranteed by Exness’s NDD model. | Traders who use their accounts often may find the commission costs to be a significant financial burden. |
| Traders in Indonesia looking to save money will appreciate the competitive spreads that result from several liquidity sources. | Spreads can change, which can impact trading expenses, especially in times of market volatility. |
| All orders are fulfilled at the best available prices without the need for requotes. | The absence of IDR based accounts may potentially be troublesome for some Indonesian traders. |
| Exness offers a number of account types to meet the demands of different traders, such as Standard and Pro accounts. | New users may feel overwhelmed by the sheer number of account configurations available. |
| Supports the highly regarded trading platforms MetaTrader 4 and MetaTrader 5, which offer traders access to a suite of powerful tools. | Novice traders in Indonesia should use caution when using high leverage options because of the risks involved. |
Our Insight
If you’re an Indonesian trader seeking to enhance your trading skills and expertise, Exness provides comprehensive educational materials and multilingual customer help. Due to Exness’s commitment to regulatory compliance, we believe trading with them is risk-free.
4. Pepperstone
Pepperstone’s NDD execution model provides traders in Indonesia with low latency, tight spreads, and direct access to the market. Trading orders are filled at the best available prices without dealing desk involvement using this strategy, which connects traders to a pool of liquidity providers. Traders in Indonesia will find Pepperstone’s NDD model especially useful because of its lightning-fast execution speeds, which are perfect for high-frequency trading and scalping.
Overall Rating
- 4.9/5
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
Total Pairs
70+
Islamic Account
Trading Fees
Account Activation
Traders in Indonesia can take advantage of Pepperstone’s access to top-tier trading platforms like cTrader, MetaTrader 4, and MetaTrader 5, all of which come with powerful features and tools that will help locals become better traders.
Unique Features
| 🏛️ Regulation | ASIC, CySEC, BaFin, FCA, CMA, DFSA, SCB |
| 📜 BAPPEBTI Regulation | No |
| 📧 Trading Accounts | Standard Account Razor Account Swap-Free Account |
| 💻 Trading Platforms | MetaTrader 4 MetaTrader 5 cTrader TradingView Capitalise.ai |
| 🚀 Trading Assets | Forex, CFDs, Commodities, Indices, Cryptocurrencies |
| 💰 Commission | Forex, CFDs, Commodities, Indices, Cryptocurrencies |
| ✔️ Scalping and Hedging | Allowed |
| 📧 IDR Account | No |
| 📧 IDR Deposits | No |
| 💱 Minimum Deposit | 2 151 822.44 IDR (AU$200) |
| 📊 Minimum Spread | 0.0 Pips |
| 🔁 Order Execution | Market Execution |
| 🗪 Execution Speed | 30ms |
| 🎉 Open An Account | Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Pepperstone’s NDD model offers scalpers some of the industry’s quickest execution speeds, making it suited for their needs. | Pepperstone’s Razor accounts incur commission fees, which can drive up trading expenses generally. |
| Pepperstone’s NDD model offers scalpers some of the industry’s quickest execution speeds, making it suited for their needs. | Pepperstone’s Razor accounts incur commission fees, which can drive up trading expenses generally. |
| cTrader, MetaTrader 5, and MetaTrader 4 are all supported, allowing for a wide range of trading techniques. | Local traders may find it less convenient as IDR-based accounts are not offered. |
| If you want to learn how to trade better in Indonesia, there are a lot of resources available to you. | Certain accounts may discourage inexperienced traders in Indonesia due to high minimum deposit requirements. |
| This broker ensures a secure and transparent trading environment through regulatory compliance, which is overseen by top-tier authorities. | New users may feel overwhelmed by the sheer number of available platforms and account kinds. |
Our Insight
Trades are more accurately and reliably executed thanks to the broker’s transparent pricing and no requotes. Pepperstone offers training resources and round-the-clock customer support to help traders in Indonesia navigate the complexity of Forex. Another factor contributing to the broker’s reliability is its regulatory framework, which guarantees a secure trading environment.
5. IC Markets
The hallmark of IC Markets is its No Dealing Desk (NDD) execution, which ensures transparent and rapid order execution and offers Indonesian traders unrestricted access to top liquidity sources.
With the help of Equinix data centres that are located near major financial hubs, IC Markets provides traders in Indonesia with a perfect trading environment that has incredibly low latency. Execution speeds below 35 milliseconds are essential for high-frequency trading and scalping, both of which are accomplished by this setup.
Overall Rating
- 4.7/5
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
Total Pairs
65
Islamic Account
Trading Fees
Account Activation
The broker’s advanced trading platforms allow automated trading and come with full-featured charting tools. Traders can have peace of mind knowing that their trades will go through smoothly and without requotes thanks to IC Markets’ NDD model.
Unique Features
| 🏛️ Regulation | ASIC, CySEC, FSA, SCB |
| 📜 BAPPEBTI Regulation | No |
| 📧 Trading Accounts | Standard Account Raw Spread Account cTrader Account Islamic Account |
| 💻 Trading Platforms | MetaTrader 4 MetaTrader 5 cTrader IC Social Signal Start ZuluTrade |
| 🚀 Trading Assets | Forex, Crypto, Futures, Bonds, Commodities, Indices, Stocks |
| 💰 Commission | 0 IDR ($0) on Standard, 56 847.35 IDR ($3.5) per lot on Raw Spread |
| ✔️ Scalping and Hedging | Allowed |
| 📧 IDR Account | No |
| 📧 IDR Deposits | No |
| 💱 Minimum Deposit | 3 248 420.00 IDR ($200) |
| 📊 Minimum Spread | 0.0 Pips |
| 🔁 Order Execution | Market Execution |
| 🗪 Execution Speed | 35ms |
| 🎉 Open An Account | Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| IC Markets’ NDD model delivers an execution speed as low as of 35 ms, an absolute must for high-frequency traders in Indonesia. | Trading expenses could rise due to commission fees imposed on specific account types. |
| This broker provides access to several liquidity sources, resulting in reduced trading costs and offering narrow spreads. | Trading expenses could rise due to commission fees imposed on specific account types. |
| Orders are processed promptly and at the desired rates without the need for requotes. | Inexperienced traders should be wary of high leverage options because of the substantial dangers they entail. |
| Several authorities ensure a secure trading environment through regulatory compliance. | It can be problematic for local Indonesian traders since the platform does not support accounts denominated in IDR. |
| Traders in Indonesia can take use of the company’s multilingual customer service. | Newcomers may feel overwhelmed by the sheer variety of platforms and features available. |
Our Insight
The broker’s extensive liquidity pool, low spreads, and clear fee structure make it attractive to Indonesian traders of all skill levels. We consider IC Markets to be one of the best NDD brokers in the forex industry because of their extensive training resources and excellent customer support.
Conclusion
Our final thoughts for Indonesian traders regarding No Dealing Desk (NDD) brokers are based on an exhaustive analysis of available tools. We have found that the quickness and openness of NDD brokers to be their primary strengths.
These brokers cut out the middlemen—dealing desks—and provide traders in Indonesia direct access to the interbank market, where prices are updated in real-time and manipulation of prices is less likely to occur. Tighter spreads and more competitive pricing are usually the results of this direct approach, which is great for traders of all skill levels.
But there are also some negatives to consider. A major drawback is the possibility of increased expenses as a result of commission fees. For high-frequency traders in particular, the commissions charged by non-dealing desk brokers (NDDs) can quickly pile up. Additionally, although NDD brokers typically provide more accurate pricing information, the trading environment may be less predictable during times of significant market volatility, which can result in slippage and requotes.
We find customer service and educational materials are also important factors for Indonesian traders. For traders wishing to hone their craft, the extensive assistance and educational resources offered by some NDD brokers are priceless. Some, nevertheless, may lack adequate support in this regard, which can be problematic, particularly for newcomers.
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Frequently Asked Questions
What is an NDD Forex broker?
With the help of an NDD broker, you may bypass middlemen and go straight into the interbank market, where prices are more easily seen and less susceptible to manipulation.
For Indonesian traders, what are the advantages of using an NDD broker?
Tighter spreads, quicker execution speeds, and no requotes are great for Indonesian traders since they facilitate high-frequency trading and scalping.
How much do NDD brokers cost?
NDD brokers usually have tighter spreads and charge a fee for each trade. Check the broker’s fee structure to get an idea of the specific charges.
Are NDD brokers a good fit for trading currency pairs?
Yes, NDD brokers provide a vast selection of forex pairs, allowing traders to choose from major, minor, and exotic currencies.
Are IDR accounts supported by NDD brokers?
Accounts based on IDR are not supported by all NDD brokers. Make sure to ask the broker about their account options in the currency you like.
