Following the Asia economic crisis in the 1990s, Indonesia has recorded an impressive economic track record. The country, an archipelago comprised of over 300 ethnic groups, now ranks fourth in population and tenth in purchasing power parity. Prior to the advent of Covid-19, Indonesia had reduced national poverty to the extent that it achieved middle-income status among other nations across the globe. The World Bank appreciates the strides made within Indonesia to achieve its development plans: “Having maintained political stability, Indonesia is one of East Asia Pacific’s most vibrant democracies, emerging as a confident middle-income the country.”

In Q3 of 2023 Indonesia posted GDP growth of 4.94%. This was below the Q2 GDP growth rate of 5.17% and short of the 5.05% predicted by economists. GDP growth is expected to average around 4.9% over the next few years as commodity prices cool. However, with falling inflation and a stable currency, the Indonesian economy remains resilient.

As a result of its economic success, Indonesia has also spawned a burgeoning middle class that understands the importance of investment activities and has also been attracted to forex trading. In 2011, the Financial Services Authority of Indonesia, the “OJK” in local parlance, became the primary regulator in Indonesia. It is a division of the Bank of Indonesia, its central bank, and it has come down hard on violations of local forex regulations. The challenge in this locale is that 87% of the populace is Islamic. Sharia law is a major determinant in how they deal with financial matters. The benefit is that forex traders work with a floating currency, the Rupiah (IDR), in a free market economy, but it is highly recommended that you search for the best forex broker in Indonesia before choosing your trading partner.

Broker Features Regulator Platforms Next Step
Number One Broker logo74% of clients lose money. Capital at risk. Founded: 1999

- Trusted Global Market Leader
- Online FX & CFD Trading
- 180+  Global Markets, 84 FX pairs, 65 shares, 17 popular indices and more
- Forex, Indices, Commodities, Equities & Bitcoin
- Available to US traders

CFTC, CIMA, FCA, FSA, IIRO, NFA FOREXTrader & MT4 for PC, MAC, iPhone, iPad and Android, WebTrader
Oanda Logo77% of retail CFD accounts lose money Founded: 1996
Your capital is...
  • Choose from four high-quality platforms.
  • Good trading conditions with fast execution speeds
  • Excellent research and analysis
  • Strong client protection
  • Winner of Most Popular Broker award for three consecutive years.
  • Fees and commissions are inline rather than market-leading.
  • Satisfactory rather than impressive range of instruments.
eToro LogoYour capital is at risk Founded: 2019

- Trade 15 cryptocurrencies
- Beginner friendly

- eToro

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