Forex Brokers in Indonesia
Richard Montana | November 22, 2022
Forex trading is very popular in Indonesia. Whilst using a broker regulated by the Financial Services Authority of Indonesia can be advantageous for Indonesian traders, it is not a requirement. Established in 2011, the Financial Services Authority of Indonesia is the financial regulatory body in Indonesia. The Indonesian translation of FSA is Otoritas Jasa Keuangan or OJK. However, even if you are located in Indonesia, you can still choose to use a forex broker that is regulated in another jurisdiction should you wish to have a greater selection to choose from.
Best forex brokers Indonesia
To find the best forex brokers in Indonesia, we created a list of all brokers that state they can accept traders and investors from Indonesia, then ranked them by their overall rating. Below is our list of our top forex brokers in Indonesia.
ASIC, BaFin, CFTC, DFSA, FCA, FINMA, FMA, FSA, FSCA, JFSA, MAFF, MAS, METI, NFA
Indonesian forex brokers
Financial Services Authority is an Indonesian government agency which regulates and supervises the financial services sector. Its head office is in Jakarta. The OJK is an autonomous agency designed to be free from any interference, having functions, duties, and powers to regulate, supervise, inspect, and investigate.
The agency was established in 2011 to replace the role of Bapepam-LK in regulating and supervising the capital market and financial institutions, as well as that of Bank Indonesia in regulating and supervising banks, and to protect consumers of financial services industry.
The main function of OJK is to promote and organize a system of regulations and supervisions that is integrated into the overall activities in the financial services sector.
The Financial Services Authority (OJK) has a vision to become a trustworthy monitoring institution that oversees financial services industry, in order to protect the interests of consumers and public, and to be able to bring about the financial services industry into becoming a pillar of national economy with global competitiveness as well as capability to promote public prosperity.
BAPPEBTI is an Indonesian regulatory agency that roughly translates to the Commodities and Futures Trading Regulatory Agency. Launched in 2005, the BAPPEBTI is the sole agency responsible for regulating different types of financial entities operating in the Indonesian financial markets.
How to verify Indonesian regulated brokers
It is legal to use forex brokers in Indonesia, but there are religious factors that can influence a trader’s decision as to whether they want to do it. Once a person is happy about their decision, it will be time to find the best forex broker in Indonesia according to your own needs.
Unfortunately, the Indonesian Financial Services Authority does not provide a list of authorized forex brokers. If you are a resident of Indonesia then you can contact the FSA directly to verify authorisation.
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