Forex is currently an investment instrument that is quite popular among young people. If you want to do forex transactions, then you automatically need a forex broker. Let's look at the 14 best forex broker recommendations in this article!
Best Forex Brokers in Indonesia:
Without further ado, here are the forex broker recommendations that we have summarized from various sources:
1. PT Asia Trade Point Futures
Is one of the best forex brokers in Indonesia, you can choose the cheapest deposit option of IDR 10 million.
Already registered with CoFTRA, your money is guaranteed safe at PT Asia Trade Point Futures. Not only that, you can get educational tips about forex, such as webinars and special WA groups.
2. PT Global Kapital Investama Futures
Maybe you have often heard about GKInvest, this one product is the output of PT Global Kapital Investama Berjangka.
Having obtained a permit from CoFTRA, not only that, PT Global Investama Futures has also become an official member of 2 well-known exchanges in Indonesia, namely the Indonesian Commodity and Derivative Exchange and the Jakarta Future Exchange.
Not only forex, here you can enjoy other trading services such as stock indices, precious metals and many more. GKInvest also provides special training programs for its customers.
3. PT MRG Mega
The Social Trade feature is the main advantage of PT MRG Mega. First established in 1998, this company is among the first futures brokerage companies to be established in Indonesia.
Through the social trade feature, you can get recommendations about forex from more experienced people.
4. OCTA.ID
Founded by the company PT Octa Investama Berjangka, OCTA ID provides the best service by offering the convenience of online forex transactions.
Is one of the best forex brokers with high liquidity with competitive prices and spreads. You don't have to worry about transparency, OCTA.ID guarantees complete transparency for customers.
5. PT Monex Investing Futures (MIFX)
- Spreads: Starting from 0.2 pip
- Leverage: 1:100
- Deposit: IDR 5,000,000
- Promo: –
- Regulation: BAPPEBTI
Providing services with a spread of 0, then customers are guaranteed to get the maximum profit.
As for technology, you don't need to worry because every transaction is supported with fast trading speeds.
Best Forex Broker in the World
1. Gainscope
- Spreads: Starting from 0 pips
- Leverage: 1:400
- Deposit: $250
- Promo: –
- Regulation: CFTC, NFA, MFSA
Go to the best forex brokers in the world, the first recommendation we give is Gainscope. The application provided is also supported in Indonesian!
However, for beginners who just want to play forex, it is not recommended to use Gainscope, because the deposit value is quite large, which is IDR 3 million.
2. OctaFX
- Spread: Floating, from 0 pips
- Leverage: 1:500
- Deposit: $5
- Promo: 50% bonus for every deposit, fixed rupiah 1 USD = 10,000, motorbike prizes every week, OctafX merchandise
- Regulation: IFSA (St. Vincent and Grenadines), 19776 IBC 2011
Established for the first time in 2011. OctaFX application is supported in Indonesian. You can also open a demo account if you want to try it first. If you are sure, then you can make a deposit of 5 $
3. XM
- Spreads: Starting from 0.1 pips
- Leverage: 1:888
- Deposit: $5
- Promo: 15% Instant Bonus
- Regulation: IFSC, FCA UK, CySEC, BaFin, ASIC
First launched in 2009, the XM broker is headquartered in Cyprus. Having a Metatrader platform that has Indonesian language making it easier for Indonesians to transact.
4. TickMill
- Spreads: Starting from 0 pips
- Leverage: 1:500
- Deposit: $25
- Promo: –
- Regulation: FCA UK, FSA (Seychelles)
A Forex trading application that has been established since 2014, this application has been trusted by many traders to make trading transactions.
For beginners it is recommended to open a demo account, before opening a real account. To open a real account, a fee of IDR 350 thousand is required.
5. HotForex
This best forex brokerage company comes from the Caribbean, and is one of the largest daily volume brokers in the world.
HotForex is also supported by applications that are compatible with various platforms, from web, mobile and MAC.
6. Financial Freedom Success (FBS)
- Spreads: Starting from 0 pips
- Leverage: 1:2000
- Deposit: $1
- Promo: 100%
- Bonus deposit Regulation: CySEC, IFSC, CRFIN
The next recommendation is Financial Broker Success (FBS). This brokerage company is a multinational company.
Providing a trading platform in Indonesian, making it easier for local traders to make transactions.
7. Insta Forex
- Spread: 3 Pips (Fixed)
- Leverage: 1:1000
- Deposit: $1
- Promotion: 30% deposit bonus
- Regulation: RAFMM, CySEC
Having a fairly fixed spread (fixed), which is 3 pips, makes this broker 1 quite popular among traders.
8. FX Open
- Spreads: Starting from 0 pips
- Leverage: 1:500
- Deposit: $300
- Promo: – Regulation: FCA UK
Having a spread of 0 pips, of course, is the main point that traders look at. But unfortunately the deposit fee requires a fee of 300 $.
9. Pepperstone
- Spreads: Starting from 0 pips
- Leverage: 1:500
- Deposit: $200
- Promo: –
- Regulation: ASIC, FCA
Being one of the most trusted forex brokers in the world, Pepperstone provides a leverage figure of 1:500 which means that customers can open positions 5 times.
Tips for Choosing a Trusted Forex Broker
1. Demo Account Feature
The main feature of a trusted forex broker is to provide a demo account feature.
That way, beginners can familiarize themselves with the appearance of the application and how to make forex transactions. Only if the customer is sure, the customer can open a real account.
2. According to Regulation
The second characteristic of a trusted forex broker is that the broker has regulations. It is highly recommended to have NFA regulations from the USA or FCA UK from the UK.
3. Guaranteed by the State Financial Institution
Legitimate or not the status of a forex broker is guaranteed by each financial institution of each country.
- Indonesia (BAPPEBTI, BBJ and KBI)
- United States (NFA and CFTC)
- England (FCA)
- Switzerland (SFBC)
- Germany (BaFIN)
- France (AMF)
4. Platform Trading
All forex transactions are carried out online, so a trusted forex broker is required to have a responsive online trading platform.
Make sure the platform provides data about currency movements and price charts!
5. Help Service
Make sure the broker you choose provides qualified assistance services. Starting from telephone, email, forums and so on. The goal is that if at any time an error occurs, you can contact the support service.
6. Recommended Spreads
Spread itself means the difference between buying and selling prices in the currencies that forex brokers offer.
If the spread is high, it indicates the broker can make a lot of profit. On the other hand, if the spread is small, it means that you can save more money.
This will have an impact on the profits you achieve, the higher the price difference, the less profit you can achieve.
7. Forex Trading Help Tools
An example of a tool in a forex trading application is real time price charting. This tool shows currency price movements in real time. The best forex brokers certainly already have such a tool.
8. Transaction Fee
Every forex broker will definitely charge a number of transaction fees for its customers. Make sure that the transaction fees charged are commensurate with the benefits you receive!
9. Fulfillment of Orders
Fulfilling customer orders quickly is the hallmark of a trusted forex broker. All orders that are still on hold, must be filled immediately if you have found a suitable price point.
10. Withdrawing and Depositing Funds
A quality forex broker will certainly explain and make it easy for customers to make withdrawals and deposit funds.
Best Forex Brokers Questions
Is Forex Trading Halal?
Considering that what is being traded is currency, then forex trading can be said to be halal. Because what is traded has a clear form.
Is Meta Trader Safe?
Equipped with a 129 bit key, the security of trader and server data is guaranteed to be safe.
Is Forex Gambling?
Given that there are various considerations made before buying forex, it can be said that forex is not gambling.
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