Author: Shelly Burns
Broker Specialist
Shelly Burns

Binary Options Indonesia

Indonesia Country

For those looking to trade binary options, Indonesia is a great place to begin your journey.

Indonesia is an example of a country with plenty of online brokers offering their services to local traders. You won't have any problems finding one from the many available. Most offer unique features and account perks to take advantage of when you register. We recommend the demo accounts and educational tools to get started.

In this article, you will learn:

  • The brokers best suited to your needs
  • What local payment methods are accepted
  • Taxes and fees that apply to ID residents

Recommended binary Websites Updated: February 2019

Risk Warning / Ad Disclosure

Risk Warning: The trading products offered by the companies listed on this website carry a high level of risk and can result in the loss of all your funds. You should never trade money that you cannot afford to lose.

Ad Disclosure: Some of the links that you will find on this website are advertisements for which we do receive financial gain from referring new customers.

Websites You Should Avoid
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Traders in Indonesia

Indonesia Brokers

Binary options trading in Indonesia is a perfectly acceptable practise so you won't struggle to find a local broker. As with the UK and Cyprus all legitimate brokers are expected to operate under the licensing and regulation of a regulatory body. In Cyprus, this is CySEC and in the UK, it is the FCA. In Indonesia, all binary options trading falls under the remit of the Indonesian National Bank who are responsible for regulating the industry plus all other financial institutions. In addition to licensing and regulation what else should you be considering when selecting your broker?

Trade Types And Payouts

As a new trader you may just be interested in High/Low trades but what other trade types does the broker offer? For existing traders looking for a new broker, consider the trade types that you are looking for. Also, what payouts does the broker offer compared to other brokers?

Bonuses And Incentives

There are many different types and amounts of bonus offered to incentivise you to open an account. These range from a no deposit bonus to a 100% match deposit bonus. You need to decide which one is best suited to your needs when making your selection. For new traders, the no deposit bonus is an excellent way to start trading without risking your own money.

Mobile Trading Support

Trading on the go is important to many of you and if a broker doesn't offer a mobile trading option then they are going to struggle to win their share of the market. Make sure you check the mobile options offered by the broker before you open an account, especially if you intend to trade from a mobile device.

Customer Help And Advice

Whether you are choosing a local broker or an offshore broker, you need to ensure that you can get hold of them with any questions or queries. Check how easy it is to get in touch and whether they offer various options such as live chat and telephone support.

With Asia being an emerging market, much like South America and in particular Brazil, when it comes to binary options and Forex, it is expected that the trend for growth will only continue. As binary options trading becomes more and more popular so will the choice of brokers. There are already a large number of foreign brokers that specifically target emerging countries and their incentives and reputation make them an attractive choice for many. The question is which one is right for you?

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Broker Fees And Tax

We mentioned financial penalties for trading with Indonesian brokers and before you embark on your binary options trading venture you must make sure you check out the tax laws surrounding this type of activity. Whilst the fees and profits that you make are roughly the same whatever country you are trading in, there is one thing that you need to consider and that is the tax laws of your country.

When it comes to taxes on binary options, Indonesia is on the high side. Whilst you are able to trade freely with either a local or foreign broker you must ensure that you declare your profits to the tax regulatory body and pay your taxes. Now whilst countries like Indonesia do allow you to trade freely and activity is governed by the national bank, some see the taxes as too high.

With the fees for trading there are a few that you need to consider. These fees include:

  • Currency conversion fees to withdraw funds from your trading currency to your own currency
  • Withdrawal fees charged by the broker for making each withdrawal to your bank account
  • Transaction fees charged by your credit card or e-wallet provider for deposits and withdrawals

When you balance what you win with what you lose you need to ensure that you are coming out on top and not handing all of your profit over to the government. As you only need to declare your overall profit it is important that you keep accurate records of your winnings along with your losses. You only need to declare your overall profit. You should also try and keep your fees to a minimum by using the cheapest method of funding your account and withdrawing cash less frequently.

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Indonesian Licencing

Indonesia uses its National Bank as the regulator for all Indonesian brokers as well as any foreign brokers operating in Indonesia. What this means is that with the protection of a financial regulatory body your money is much safer than trading with a broker that isn't regulated. When you are choosing a broker you should always check their licensing and that they are in fact regulated and approved. This applies to both local and foreign companies. You are taking a huge risk if you choose one that isn't operating under the appropriate licensing or regulation.

Whilst there are very strict regulations, much like the Philippines, Japan or Thailand, and trading is not as easy as it is in countries like the UK and Cyprus, it is still much easier to trade than it is in places like the US. There are rules that must be adhered to which make it a little more restricting and there are financial penalties which we will cover in more detail later.

All that said though the governing body is still a bank and a bank is responsible for all sectors not just binary options. You may actually be wiser to choose a foreign broker that is regulated by one of the more recognisable bodies such as CySEC which is the Cyprus Securities and Exchange Commission and one of the most recognised officiating bodies when it comes to the binary options trading across the world.

Indonesia is an example of a country where just a few years ago trading was limited.

How we Recommend Brokers

We rate and review the best Indonesian brokers in the same way that we review all brokers. We carry out very thorough checks and trade ourselves on the platforms to ensure that the advice that we give to you is accurate, reliable and that we are happy to put our name to that particular broker. We pride ourselves on making the best advice available to you and we won't put our name to any broker that we haven't fully vetted.

Our checks include all aspects from the licensing and regulation of the broker to the ease of use of the platform and the bonuses and pay outs on offer. You want to ensure that your trading experience is the best it can be so by using our service you can ensure that you are armed with all of the facts before you make a commitment to any broker.

As we research brokers from across the globe you can check out the various differences between local Indonesian brokers and foreign brokers to see which you prefer to trade with. Sometimes the foreign brokers will have offerings that perhaps your local binary options brokers don't therefore you are presented with much more choice. Our advice is to make a list of what you want to get out of your trading experience and what will draw you to a particular broker and then make your shortlist based on your wish list.

Risk Warning / Ad Disclosure

Risk Warning: The trading products offered by the companies listed on this website carry a high level of risk and can result in the loss of all your funds. You should never trade money that you cannot afford to lose.

Ad Disclosure: Some of the links that you will find on this website are advertisements for which we do receive financial gain from referring new customers.

Frequently Asked Questions

Indonesia FAQ

Is binary trading in Indonesia legal and safe?

The answer to this is yes on both counts. With regards to whether it is safe then like anything you have to make sure you choose a licensed and reputable broker.

Do I need to pay taxes on my trading profits?

Taxes can be high in Indonesia so before you start trading you should ensure that you understand the tax implications of doing so clearly.

Can I test brokers before trading with real money?

There are many brokers that offer demo accounts. If this is one of your criteria then look for this when searching for a broker and be sure they offer a demo account for free.

Is it easy to make deposits and withdrawals?

Yes, making a deposit is instant with many brokers using various payment methods. Bear in mind that when withdrawing funds it can take 3-5 days to reach your account.

Can I trade using my mobile or tablet device?

Many brokers now cannot offer a competitive service without having a good mobile offering. This means that as a trader you should be able to operate on the go with most brokers.

Meet The Author
Shelly Burns
Shelly Burns
Broker Specialist

Shelly is proud of her current position as Head of Brand for a well-known organisation that owns several brokerages in the trading sector. She’s consulted for us since 2015 and readers can benefit from her insider knowledge of how brokers work. Learn more.

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