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While the single objective of Bank Indonesia – the Indonesian Central Bank, is to establish and maintain rupiah stability, the Commodities and Futures Trading Regulatory Agency (BAPPEBTI) is the single institution, regulating all entities operating on the Indonesian financial markets, including forex and CFD brokers. The Agency is under the direct supervision of the Ministry of Finance.
In 2013 the Indonesian government initiated a crack down on the large number of scam brokers that were targeting Indonesian citizens. That, however, resulted in shutting down the web sites of all overseas brokers, operating in the country.
Latter the Indonesian government decided to open up its country to overseas brokers again, on the condition they set up an office in the country and follow the guidelines (if there are any) of the BAPPEBTI Agency. But those conditions proved to be short lived and presently traders in Indonesia are free to choose any international broker they want.
With its nearly 270 million population Indonesia is the largest Muslim country in the world and accordingly all forex brokers on the Indonesian market offer Sharia compatible Islamic trading accounts.
Most brokers operating on the Indonesian market accept payments with major credit or debit cards lik VISA and MasterCard, the local e-wallet service FasaPay, other popular e-wallets like Skrill, Neteller and PerfectMoney, as well as through some local banks like Bank Central Asia (BCA), Mandiri, Bank Negara Indonesia (BNI) and Bank Rakyat Indonesia (BRI).