Every credible broker in Indonesia answers to OJK. This requirement shapes how they handle client funds, reporting, and disclosure. We review eight brokers with OJK licences, comparing technology, service quality, and overall offer for Indonesian traders.
Here are the topics we cover in our guide:
- How does OJK oversight affect everyday traders?
- 8 OJK-Regulated Brokers in Indonesia
- The evolution of online trading under Indonesian regulation
- Final verdict on OJK-Regulated Brokers in Indonesia
- FAQs on OJK-Regulated Indonesian Brokers
Each broker featured was confirmed through OJK’s latest records and independent market research. Our assessment also covered platform usability, order execution, client education resources, and other features for Indonesian traders.
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Quick Comparison: 8 OJK-Regulated Brokers in Indonesia
| 🥇 Broker | 👉 Open Account | ✔️ Indonesian Rupiah (IDR) Account? | 💰 Minimum Deposit? | 💸 Indonesian Rupiah (IDR) Deposits Allowed? |
| Mirae Asset Sekuritas | Yes | Rp 10 million | Yes | |
| Indo Premier Sekuritas | Yes | Rp 100,000 (stocks) | Yes | |
| Mandiri Sekuritas | Yes | Rp 10 million (investment RDN account) | Yes | |
| BCA Sekuritas | Yes | Rp 5 million | Yes | |
| Bahana Sekuritas | Yes | No set minimum | Yes | |
| Phillip Sekuritas | Yes | Rp 100,000 | Yes | |
| RHB Sekuritas | Yes | Rp 100,000 | Yes | |
| Trimegah Sekuritas | Yes | From Rp 100,000 | Yes |
How does OJK oversight affect everyday traders?
OJK oversight changes how you trade in Indonesia in simple but meaningful ways. Every investor account links to the central depository, KSEI, under a Single Investor Identification number.
This setup means your shares are in a separate sub-account under your name, not in a pooled company account. You can track them through the AKSes portal, where holdings and movements update daily. It is an extra layer of proof that your assets are safe and exactly where they should be.
If a broker fails or mishandles client funds, protection comes from the Indonesia Securities Investor Protection Fund.
It compensates investors up to IDR 200 million per person, with a total event cap of IDR 100 billion. While that does not remove every risk, it ensures that the system is accountable and pushes firms to tighten controls.
OJK also has several consumer channels, including Kontak 157 and a complaint portal that helps traders escalate disputes that brokers do not resolve.
In 2025, the regulator began enforcing a complete shift to dematerialised trading, phasing out paper share certificates and introducing rules on unclaimed assets. This move makes settlement faster and reduces administrative mistakes, helping traders focus on performance rather than paperwork.
8 OJK-Regulated Brokers in Indonesia
- Mirae Asset Sekuritas: Pushes retail-trader perks like competitions and access to government bonds, making it a lively option for Indonesians.
- Indo Premier Sekuritas: Known for its IPOT hub, it combines a strong trader community, built-in education and bond investing.
- Mandiri Sekuritas: Tied to Bank Mandiri, it offers brokerage and banking in one place, making everything smoother for investing and cash flow.
- BCA Sekuritas: Indonesia’s largest private bank that offers bank-level research and strong back-end support for trades.
- Bahana Sekuritas: Veteran in the local market, backed by a state-owned group, it brings serious local-market experience plus its own retail platform.
- Phillip Sekuritas Indonesia: Part of the larger PhillipCapital network, with local HQ service with regional reach for those who want cross-border exposure.
- RHB Sekuritas Indonesia: Reputation for structured warrants and more advanced trading tools for those beyond basic buy/sell.
- Trimegah Sekuritas: Long-standing full brokerage and investment services with solid local roots.
1. Mirae Asset Sekuritas
Overview
Mirae Asset Sekuritas is a heavyweight on Indonesia’s equity desk, backed by in-house research and a tech stack that spans M-STOCK, HOTS desktop, and Neo HOTS mobile.
Unique Features
| Feature | Information |
| 🛡️ OJK regulation | Licensed and supervised by OJK |
| 💻 Platform coverage | Mobile, desktop, and web access via M-STOCK, HOTS PC, Neo HOTS mobile |
| 📈 Real-time data and order types | Real-time market data, no info on order types |
| 🧺 Multi-asset access | Stocks and mutual funds, bonds |
| 🚀 IPO subscription in-app | IPO applying supported in M-STOCK |
| 🎓 Education hub | M-STOCK blog with tutorials, webinars, strategy pieces, HOTS Championship coverage |
| 🔎 Research and tools | Ongoing Indonesian equity research PDFs |
| ☪️ Sharia/Islamic option | Sharia investing available |
| 🎁 Rewards & fee mechanics | None |
| 💳 Margin financing | Margin trading available |
| 🏦 Bank integration and funding flows | RDN and partner banks, partner list shown during onboarding |
| 🚀Sign up | 👉 Open Account |
Pros and Cons
| 🟢 Pros | 🔴 Cons |
| In-house Indonesian equity research available to retail | Lack of detailed fee schedules |
| Active education hub and programs for investors | Names of partner RDN banks not listed publicly |
| Multi-asset coverage, including mutual funds | |
| Longstanding presence and local brand recognition |
Frequently Asked Questions
Which trading platforms does Mirae Asset Sekuritas offer?
M-STOCK for mobile and HOTS on desktop, with Neo HOTS for mobile users who prefer the HOTS interface.
Can I subscribe to IPOs on Mirae Asset Sekuritas apps?
Yes, you can apply for IPOs through M-STOCK.
2. Indo Premier Sekuritas
Overview
Indo Premier Sekuritas offers Indonesian traders access to stocks, funds, ETFs, and bonds with real-time execution and automation via RoboTrading.
Unique Features
| Feature | Information |
| 🛡️ OJK regulation | Licensed and supervised by OJK |
| 💻 Platform coverage | IPOT mobile app (Android/iOS), IPOT on Windows desktop app, IPOTULTIMA web platform |
| 📈 Real-time data and order types | Real-time execution and RoboTrading auto orders, charting and indicators |
| 🧺 Multi-asset access | Stocks, mutual funds, ETFs, and bonds |
| 🚀 IPO subscription in-app | IPO participation available via e-IPO, underwritten by Indo Premier |
| 🎓 Education hub | IPOT Academy webinars/bootcamps and learning tracks |
| 🔎 Research and tools | IPOTNEWS research/notes and news hub, analysis tools and notifications |
| ☪️ Sharia/Islamic option | IPOT Syariah account option and content |
| 🎁 Rewards & fee mechanics | Booster Modal: Regular buy 0.19%, sell 0.29%, ODT buy 0.10%, sell 0.20% |
| 💳 Margin financing | Margin facility available up to 3× equity, 0.05% per day interest |
| 🏦 Bank integration and funding flows | RDN transfer/withdrawal, 24/7 instant withdrawals |
| 🚀Sign up | 👉 Open Account |
Pros and Cons
| 🟢 Pros | 🔴 Cons |
| e-IPO access through the broker’s own flow | Some of the knowledge base is only Indonesian, with limited English resources |
| Education via IPOT Academy and active IPOT Buzz community | |
| Research and market updates on IPOTNEWS | |
| Margin and ODT facilities available |
Frequently Asked Questions
How long do deposits and withdrawals take with MIFX?
Same-bank deposits can take an hour, while interbank transfers take 1 to 2 business days. Withdrawals submitted before the cut-off typically clear within one day.
What are MIFX’s support hours?
Support is typically from Monday to Friday, 6 am to 10 pm WIB.
3. Mandiri Sekuritas
Overview
Mandiri Sekuritas offers the “MOST” trading platform on mobile, which gives access to Indonesian stocks and mutual funds, with support for biometric login and real-time data.
Unique Features
| Feature | Information |
| 🛡️ OJK regulation | Licensed and supervised by OJK under brokerage and underwriting scope |
| 💻 Platform coverage | MOST mobile app, web login, account management via partner bank integration |
| 📈 Real-time data and order types | Real-time market data, chart indicators, auto-order and fund withdrawal |
| 🧺 Multi-asset access | Access to Indonesian stocks and mutual funds |
| 🚀 IPO subscription in-app | IPO participation |
| 🎓 Education hub | Learning articles, video tutorials and forum |
| 🔎 Research and tools | Research reports, market commentary, and investment tools via portal |
| ☪️ Sharia/Islamic option | Sharia investing content and account options |
| 🎁 Rewards & fee mechanics | Fee reductions |
| 💳 Margin financing | Margin facility available with eligibility criteria |
| 🏦 Bank integration and funding flows | RDN funding via partner bank, 24-hour withdrawal |
| 🚀Sign up | 👉 Open Account |
Pros and Cons
| 🟢 Pros | 🔴 Cons |
| Broad mobile and web platform offering | Public site does not list detailed retail fee structure |
| Research and educational content available | Some feature navigation requires tapping through multiple pages |
| Integrated banking and RDN funding flows | |
| Sharia investment available |
Frequently Asked Questions
Can I trade multiple asset types from one Mandiri Sekuritas account?
Yes, you can trade Indonesian stocks and mutual funds in one account.
Does Mandiri Sekuritas offer margin trading?
Yes, margin trading is offered, but it has eligibility criteria.
4. BCA Sekuritas
Overview
BCA Sekuritas provides a mobile app and web access for equity trading, portfolio tracking, and charting tools. The service covers stocks, rights, warrants, ETFs and corporate/government bonds.
Unique Features
| Feature | Information |
| 🛡️ OJK regulation | Licensed and supervised by OJK, brokerage and underwriting services included |
| 💻 Platform coverage | Mobile trading app “BCA Sekuritas Mobile”, web portal “BEST Web”, desktop version available |
| 📈 Real-time data and order types | Real-time market data, advanced charting, portfolio management in mobile app |
| 🧺 Multi-asset access | Equity trading, corporate bonds access, mutual fund access via platform |
| 🚀 IPO subscription in-app | IPO participation available |
| 🎓 Education hub | Learning content, tutorials and investing guides available via the service’s research portal |
| 🔎 Research and tools | Daily research reports, advanced charting, and investment insights |
| ☪️ Sharia/Islamic option | Sukuk and Islamic-compliant bond offerings |
| 🎁 Rewards & fee mechanics | Fee examples for bond tax |
| 💳 Margin financing | Margin facility available with conditions |
| 🏦 Bank integration and funding flows | RDN funding via bank transfer supported; large transfer limits are available |
| 🚀Sign up | 👉 Open Account |
Pros and Cons
| 🟢 Pros | 🔴 Cons |
| Mobile, web and desktop platforms available | Permit dates are historic; recent updates of licences not available |
| Margin financing offered | Fee schedule and tiered rebates not consolidated in one public table |
| Integration with bank-linked account flows and RDN setup | Some processes (such as withdrawal forms) require physical documents |
| Strong research support and daily market insights |
Frequently Asked Questions
Is there a Sharia-compliant option with BCA Sekuritas?
Yes, Islamic-compliant bond offerings are available.
Does BCA Sekuritas provide an education hub for investors?
Yes, learning content and tutorials are provided via the research and portal sections.
5. Bahana Sekuritas
Overview
Indonesian traders can trade stocks, mutual funds, and retail bonds on Bahana Dxtrade. Traders can access research and market notes live on the broker’s website.
Unique Features
| Feature | Information |
| 🛡️ OJK regulation | Licensed and supervised by OJK, operates as a securities company and IDX member |
| 💻 Platform coverage | Multi-asset investment app (stocks, mutual funds, bonds) available on web and mobile platforms |
| 📈 Real-time data and order types | Offers portfolio view, auto-order capacity, corporate bond access, and live stock info |
| 🧺 Multi-asset access | Access to stocks, mutual funds, and bonds |
| 🚀 IPO subscription in-app | None |
| 🎓 Education hub | Investment-education modules, classes and glossary tools |
| 🔎 Research and tools | In-house research, commentary and investment-ideas feeds |
| ☪️ Sharia/Islamic option | Islamic instrument access via sukuk/fixed-income products |
| 🎁 Rewards & fee mechanics | Promo programmes and fee-example available |
| 💳 Margin financing | Margin facility offered with online application option |
| 🏦 Bank integration and funding flows | RDN opening and withdrawal |
| 🚀Sign up | 👉 Open Account |
Pros and Cons
| 🟢 Pros | 🔴 Cons |
| Mobile and web platforms available | Lack of info on fee-tier and loyalty programme |
| Multi-asset access | Margin-rate table and transparency could improve |
| Licensed under national regulator and exchange framework | No instant bank-transfer settlement |
| Margin facility for eligible clients |
Frequently Asked Questions
Does Bahana Sekuritas provide real-time data and conditional orders?
Yes, live market quotes are supported.
Does Bahana Sekuritas offer loyalty or rewards programmes?
Yes, there are promo programmes and fee-example campaigns.
6. Phillip Sekuritas
Overview
Phillip Sekuritas offers multi-asset trading through POEMS, combining equities, mutual funds, and bonds. It caters to retail traders who want direct access to Indonesia’s markets with integrated research and execution tools.
Unique Features
| Feature | Information |
| 🛡️ OJK regulation | Licensed and supervised by OJK as a broker-dealer and underwriter |
| 💻 Platform coverage | POEMS platform available on mobile, desktop, and web |
| 📈 Real-time data and order types | Provides real-time prices, order placement, and advanced order options |
| 🧺 Multi-asset access | Stocks, mutual funds, and bonds |
| 🚀 IPO subscription in-app | Offers retail participation in IPOs through integrated digital flow |
| 🎓 Education hub | Webinars, learning content, and in-app education |
| 🔎 Research and tools | Daily research, reports, screeners, and proprietary analytics |
| ☪️ Sharia/Islamic option | Provides sharia-compliant account and products |
| 🎁 Rewards & fee mechanics | Periodic fee offers and client reward campaigns |
| 💳 Margin financing | Margin accounts under OJK margin trading rules |
| 🏦 Bank integration and funding flows | Funding via RDN connected with local partner banks and instant deposit options |
| 🚀Sign up | 👉 Open Account |
Pros and Cons
| 🟢 Pros | 🔴 Cons |
| Integrated RDN funding system | Margin rates not shown publicly |
| Multi-asset access on one platform | IPO access limited by eligibility criteria |
| Real-time data and analytics available | |
| Sharia trading option available |
Frequently Asked Questions
How do I fund my Phillip Sekuritas account?
Funding is processed through an RDN linked to a partner bank.
Can foreign traders open accounts with Phillip Sekuritas?
Yes, accounts can be opened subject to Indonesian identification and OJK requirements.
7. RHB Sekuritas
Overview
RHB Sekuritas offers stock and bond trading to Indonesian investors through its own digital platform and branch network. Clients can trade, research, and access corporate actions within one account.
Unique Features
| Feature | Information |
| 🛡️ OJK regulation | Licensed under OJK for brokerage and underwriting services, market member status in Indonesia |
| 💻 Platform coverage | Trading platform available on mobile, desktop, and web |
| 📈 Real-time data and order types | Live market quotes and supports limit and market orders |
| 🧺 Multi-asset access | Access to equities, mutual funds, and bonds |
| 🚀 IPO subscription in-app | Online IPO application available through the trading app |
| 🎓 Education hub | Webinars, investment guides, and seminars for clients |
| 🔎 Research and tools | Daily reports, stock recommendations, and market outlooks |
| ☪️ Sharia/Islamic option | Sharia-compliant trading accounts under SOTS framework |
| 🎁 Rewards & fee mechanics | Periodic trading fee discounts and referral programs |
| 💳 Margin financing | Margin accounts available with defined interest tiers |
| 🏦 Bank integration and funding flows | Integrated RDN funding with partner banks, instant transfer supported |
| 🚀Sign up | 👉 Open Account |
Pros and Cons
| 🟢 Pros | 🔴 Cons |
| Offers in-house research and education | Platform updates can be delayed |
| Margin financing available | Limited customisation on mobile charting |
| Mobile, web, and desktop trading available | Margin rates vary by balance and activity |
| Access to multiple asset classes |
Frequently Asked Questions
What kind of research does RHB Sekuritas provide?
Daily market reports, analyst insights, and recommendations are available.
Can investors trade more than stocks with RHB Sekuritas?
Yes, equities, bonds, and mutual funds can be traded.
8. Trimegah Sekuritas
Overview
Trimegah Sekuritas provides equity, mutual fund, and bond trading in one account through its in-house platform. It operates under OJK supervision and is a member of the Indonesia Stock Exchange. Clients can trade, monitor portfolios, and access research and educational content.
Unique Features
| Feature | Information |
| 🛡️ OJK regulation | Licensed by OJK as a securities broker and dealer, operating under national capital-market rules |
| 💻 Platform coverage | Online trading through mobile and web platforms under one account |
| 📈 Real-time data and order types | Live market prices and standard order placements supported, no advanced conditional orders |
| 🧺 Multi-asset access | Stocks, mutual funds, and bonds |
| 🚀 IPO subscription in-app | Not available |
| 🎓 Education hub | E-learning platform and investor literacy programs |
| 🔎 Research and tools | Market research, reports, and trading ideas |
| ☪️ Sharia/Islamic option | Access to Islamic mutual funds and sukuk instruments |
| 🎁 Rewards & fee mechanics | No loyalty or point-based rewards system |
| 💳 Margin financing | Margin trading offered for retail accounts |
| 🏦 Bank integration and funding flows | Linked RDN with bank integration for funding and withdrawals |
| 🚀Sign up | 👉 Open Account |
Pros and Cons
| 🟢 Pros | 🔴 Cons |
| Provides educational and learning tools | No reward or loyalty programme |
| Supervised by OJK and is an IDX member | No biometric login option |
| One account for multiple asset types | No instant transfer outside banking hours |
| Access to sharia-compliant investments |
Frequently Asked Questions
Does Trimegah Sekuritas handle research in-house?
Yes, research and analysis are produced internally for clients.
Does Trimegah Sekuritas allow conditional orders?
No, only standard order types are supported.
The evolution of online trading under Indonesian regulation
Many traders think online trading has always been smooth. However, in Indonesia, it took years for the tech, rules and people to catch up. Today, you can open an account on your phone, fund it and buy shares in minutes, but that change didn’t happen overnight.
2010-2015: Laying the digital foundations
During this period, the capital market infrastructure started to improve meaningfully. The Indonesia Stock Exchange (IDX) had upgraded to electronic trading, but the retail side still faced barriers: large lot sizes, physical share certificates, and slow account setup.
One significant change was reducing lot sizes for smaller investors to be able to participate.
In addition, the creation of the OJK under Law No. 21/2011 meant a unified regulator for banking, securities and finance, which simplified the oversight environment.
2016-2021: Retail boom and mobile access
Trading apps and online brokerage services became more common, and the number of retail investors spiked. For example, by the end of 2021, the retail investor count was estimated at 2.6 million in Indonesia.
Simultaneously, infrastructure like investor-account monitoring and mobile RDN funding received more support, making trading from anywhere a viable option.
2022-2025: Full digital shift and regulation catches up
In recent years, the market has broadened: the number of single-investor identification (SID) accounts surpassed around 7 million by mid-2025.
In terms of regulation, OJK issued landmark rules such as Regulation No. 9/2025 requiring securities to be in electronic form (no more physical certificates) by a set deadline.
Meanwhile, the market roadmap for 2023-2027 emphasises digital innovation, inclusion of younger investors, and improved tech for trading, clearing and settlement.
Final verdict on OJK-Regulated Brokers in Indonesia
OJK-regulated brokers have brought discipline and order to Indonesia’s online trading environment. Licensing standards, investor-protection mandates, and capital requirements create a consistent baseline for clients.
Each licensed broker must integrate investor accounts through the national system, allowing regulators to monitor activity in real time. With more traders entering the market every month, these guardrails keep technology aligned with investor safety.
Overall, the combination of supervision and digital expansion has helped Indonesia grow one of Southeast Asia’s most inclusive retail trading environments.
FAQs on OJK-Regulated Indonesian Brokers
How can I check if a broker is listed under OJK?
You can check the official OJK register to see if a broker is listed.
Does OJK supervision guarantee my funds are safe with a broker?
Yes, OJK oversight enforces segregation of client accounts and strict capital requirements to protect investor funds.
What steps should I take before funding my account with an Indonesian broker?
Confirm the broker’s OJK licence and ensure it uses the RDN system integrated with Indonesia’s clearing and depository networks.
Are there separate rules for sharia-compliant brokerage services under OJK?
Yes, sharia trading is guided by DSN-MUI principles and monitored by OJK through SOTS.
Are brokers allowed to offer zero-commission trading under OJK rules?
Yes, commission terms are set by each broker, but must follow OJK and IDX disclosure requirements.