To find the best forex brokers in Indonesia, we created a list of all brokers that list Indonesia as a country they accept new customers from. If you open an account with LiteFinance’s offshore entity, your funds may be commingled with that of other investors and the broker’s own funds. LiteFinance explicitly mentions counterparty risk in its risk disclosure document. Additionally, no investor compensation fund is available in St. Vincent & the Grenadines should LiteFinance go bankrupt. Finally, you should be aware that withdrawal fees apply across most payment methods.
Trading tools
- All content on ForexBrokers.com is handwritten by a writer, fact-checked by a member of our research team, and edited and published by an editor.
- ECN accounts offer much more value in trading terms with low spreads, but still, the commissions are higher than with other popular brokers.
- If you open an account with LiteFinance’s offshore entity, your funds may be commingled with that of other investors and the broker’s own funds.
If you want to learn more about the largest financial market in the world – and see our picks for the best international forex brokers – check out our in-depth guide to forex trading. IC Markets stands out as the best option for traders looking to use MetaTrader 4 (MT4) in 2024. IC Markets’ competitive pricing includes low effective spreads and commissions, and a modest minimum deposit requirement. IC Markets’ range of account choices and variety of execution methods make it an excellent option for automated or algorithmic trading on MT4 and MT5. IC Markets also offers various tools and plugins for MetaTrader, and recently expanded its range of markets to offer 3,500 symbols, making it the number one choice in Indonesia.
Trading Strategies
A trusted broker that is highly regulated across the globe, IG delivers well-designed, easy-to-use trading platforms that are packed with advanced trading tools and powerful features. I’ve been reviewing IG for years now, and I continue to be impressed by its dedication to forex education for beginners. Learn more about why I’ve rated IG so highly by reading my review of IG. LiteForex is a regulated broker offering Forex pairs as its main trading product. The broker has a social trading platform and offers ECN technology which is available together with automated withdrawals, making the trading process very comfortable and streamlined.
Blog Trader
Open an account with LiteForex and gain access to quality analysis for free. The ECN account is a much better variant for trading as all the other terms are the same for both Classic and ECN account types, except that spreads are much lower on ECN accounts. It should be noted that their commissions are a lot more expensive than other brokers.
LiteFinance charges a 2% fee for withdrawals to a bank card or a Neteller account, a 0.5% fee for withdrawals to a Bitcoin wallet, and a USDT 1 fee for Tether withdrawals. However, their withdrawal fees are a somewhat high, especially card withdrawals. Here’s a gallery of screenshots from IG’s trading platforms taken by our research team during our product testing. The primary Indonesian financial sector regulator is the Financial Services Authority of Indonesia, also known as the Otoritas Jasa Keuangan (OJK) (on twitter at Twitter at @OJKIndonesia).
Check out a gallery of screenshots from IG’s educational resources, taken by our research team during xcritical official site our product testing. Brokerage services in your country are provided by the company LiteFinance Global LLC (registered in St. Vincent & the Grenadines as a Limited Liability Company with registration number 931 LLC 2021). LiteFinance accepts a wide range of payment options, including bank transfers, bank cards, electronic wallets (like Skrill or Neteller) and crypto-currencies.
IG is a regulated broker that offers forex and CFD trading, and in 2024 it outclassed the competition in nearly every category. The regulation of Indonesian financial markets stems from Law No. 8 of 1995 on Capital Markets which pertains to the stock market and securities dealers and does not reference forex brokers. While commodity futures rules are based on the Law No. 10 of 2011 (which amends Law No. 32 of 1997), it neglects to mention forex or CFD trading.
These platforms are among the most advanced trading software in the world, providing many inbuilt indicators and the ability to install xcritical website custom indicators and automated trading systems called Expert Advisors (EAs). LiteForex also offers social trading capabilities, and MT5 has inbuilt plugins for this purpose. Additionally, mobile trading is also offered through the MT5 Android app. Article 103 under Chapter 15 of the law states that carrying out activities without a permit in the capital markets in Indonesia can result in up to 5 years in jail and a maximum fine of 5 billion Indonesian rupiahs (INR).
LiteForex – a broker to trust
He holds a Bachelor’s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content. All content on ForexBrokers.com is handwritten by a writer, fact-checked by a member of our research team, and edited and published by an editor. Generative AI tools are not a part of our content creation or product testing processes. Our ratings, rankings, and opinions are entirely our own, and the result of our extensive research and decades of collective experience covering the forex industry.
We’ve trade through LiteFinance’s ECN account for over 4 years on raw spreads plus a commission of $5 per lot, per side. We like that it places no restrictions at all on our use of automated trading strategies. As we have seen above the LiteForex fees seem a bit high, to further clarify the picture let’s compare it with other popular brokers on the market. An experienced media professional, John has close to a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets.
As payment options vary from one country to the next, we suggest creating a free account on LiteFinance.com to see the options available to you. It is possible to process withdrawals within 24 hours and you can even set automatic withdrawals to take out your money instantly on a scheduled basis, making withdrawals a more comfortable and stable experience. Check out a gallery of screenshots from IG’s mobile apps, taken by our research team during our product testing. Find out why MetaTrader is one of the most popular trading platforms in the world by checking out our guide to MetaTrader, or read our guide to MetaTrader 5.
Live chat provides the ability to connect to LiteForex’s different departments, including partnership and financial departments, together with general customer support. With all this combined, LiteForex offers excellent customer support services. Where LiteForex excels is in the trading tools offered for free by the broker. The tools include an economic calendar, technical and fundamental Forex analysis, analytical materials from Clawthorne (an independent trading agency), economic news, a currency calculator, and currency rates. All these tools are useful when trading and provide some assistance to traders, increasing their potential accuracy when making trading decisions.
But the broker has high spreads and commissions and may not be suitable for traders who prefer low trading fees and commissions. ECN accounts offer much more value in trading terms with low spreads, but still, the commissions are higher than with other popular brokers. LiteForex has a very good education center with advanced Forex trading educational materials and books. This is because retail forex trading is not directly regulated in Indonesia – though there are some brokers that are regulated and licensed to offer securities and/or derivatives.
Your level of protection will depend on your broker’s client classification rules, as is customary in the EU, whereby strong protections are granted to retail traders. Additionally, LiteFinance is a member of the chypriot Investor Compensation Fund. LiteForex provides MetaTrader 4 (MT4) and MetaTrader 5 (MT5) as the main trading platforms.