Trading foreign currencies is a popular pursuit amongst residents in Indonesia.Many people have realised the potential to make big money forex trading in the country. With that being said, forex trading in Indonesia isn’t for the fainthearted as it always involves an element of risk as well. In order to trade forex successfully and reap those substantial rewards, it is important that any budding trader do their research, connect with a good forex broker and strategize effectively.
With that being said, however, finding a reputable forex broker in Indonesia can sometimes be easier said than done. A good forex broker will get you set up and provide you with all the necessary tools to get trading. They can also help you develop a strategy and decide when to trade for maximum profit.
Although it is not a legal requirement, it is always a good idea to look for a forex broker that has been authorised by the Financial Services Authority of Indonesia. If you are looking to start forex trading in Indonesia, you’ll find that the Securities and Exchange Board of Indonesia, which is the financial regulatory board in Indonesia, is another useful source of information when it comes to connecting with reputable forex brokers in the country.
If you are new to forex trading in Indonesia, we’ve come up with a list of the five best forex brokers for 2021 to help you get started on your trading journey:
It’s a leading forex broker in Indonesia for Beginners.
CMC Markets is a prominent international name that is trusted by forex traders across the world. They have a great service offering for traders and their pricing is really competitive. Especially, when you consider the fact that you’ll be getting access to over 10,000 tradeable instruments and their next generation trading platform with innovative trading tools and brilliant charting.
When it comes to a user friendly trading platform, then eToro is the forex broker that’ll get you sorted. Their innove copy-trading platform allows traders to copy the trades of investors across several instruments beyond forex. It is useful when it comes to CFDs, exchanged-traded securities and popular cryptocurrencies too.
iG is another forex broker that comes highly recommended thanks to its trusted reputation globally. IG provides forex traders with an excellent package consisting of trading and research tools, a long list of tradable products and industry-leading education all at a competitive price.
If you’ve got big money to invest and can afford the USD 10,000 minimum deposit, then Saxo Bank is a great forex broker for you. They offer brilliant trading platforms, excellent research and top-quality customer service at a price that is pretty competitive.
City Index is a trusted brand that is backed by GAIN Capital. With its advanced trading platforms, brilliantly designed mobile app and extensive market research and education offerings, its a great forex broker for those looking to trade in Indonesia.
In short, whether you consider yourself an experienced forex trader or are more of a novice, having a trusted forex broker by your side will certainly give you additional confidence when it comes to forex trading in Indonesia. So be sure to do your research before committing to a broker in order to ensure your forex trading journey gets going on the right foot.