Is any broker in this ranking licensed locally?

No. Each of the 10 either holds a foreign licence or has none we could confirm. The register above shows which is which.

What did the regulator say about Quotex?

In April 2025 the Bappebti named Quotex among offshore platforms operating without authorisation, referred the matter to the FIA, the PTA and Google, and advised the public not to open accounts, deposit funds or share personal data with it.

BinaryCent is listed in the Vanuatu regulator's own notice of fraud, which states the broker is neither incorporated nor licensed there. Reviews that credit it with a Vanuatu licence are repeating a claim the regulator denies.

Does a foreign licence protect me?

Only if your account is held by the licensed company. Brokers often run several companies and onboard clients from here through an offshore one. The company name is in your account agreement — read it before you fund.

How can I check a licence myself?

Open the regulator's own site, find its public register, search the company name, and compare the number and status with what the broker shows. Then search the local regulator's site for a warning about the brand. It takes about ten minutes.

What can I do if a broker will not pay out?

Write to the broker and keep the reply. If it is licensed, escalate to the body named on the licence. If it is not, the local regulator cannot act for you, but suspected fraud can be reported to the cyber-crime authority.

Do I pay tax on profits?

Possibly, wherever the broker is based. We do not give tax advice — ask the tax authority or an adviser, and keep your account statements.

Legal · Indonesia · 2026

Is it legal to trade with these brokers from Indonesia?

No broker in this ranking holds a licence from the Bappebti. It licenses the brokers of the local exchanges and treats offshore forex and fixed-time platforms as unauthorised. It has publicly named Quotex among platforms operating without authorisation. A different regulator, in Vanuatu, lists BinaryCent in a notice stating it never licensed the broker. The rest hold a foreign licence or none at all, so local investor protection does not cover your account with any of them.

§ 1 · Licence status

Status

Licensed by the local regulator

Authorised by the Bappebti. This is the only status that brings local investor protection.

None of the brokers in this ranking.

Foreign licence or registration

Registered with a regulator or a dispute body outside this country. What that is worth depends on the body — and on which of the broker's companies holds your account.

DerivMFSA 70156
Pocket OptionMISA (Mwali) T2022086
IQ OptionCySEC 247/14 (EEA)
Olymp TradeVFSC company No. 40131 (Aollikus Limited)
BinomoIFC (FinaCom) Category A
Expert OptionFinancial Commission (member)

Nothing found, or a warning

No register entry matched the broker's name. Some have been named publicly by a regulator.

StockityNo licence found
QuotexNamed as unauthorised
ExnovaNo licence found
BinaryCentNamed in a fraud notice

§ 2 · Register

Licences of the 10 ranked brokers

Data checked 12.10.2026

No. Broker Regulator Jurisdiction Check status

Deriv

MFSA 70156 Malta · Vanuatu Confirmed in the register Entry found, name and number match

Pocket Option

MISA (Mwali) T2022086 Mwali (Comoros) Offshore licence · warnings Light-touch register, and other regulators have warned

Quotex

None found — Named as unauthorised The local regulator warned the public about it

IQ Option

CySEC 247/14 (EEA) Cyprus (EEA only) Confirmed, limited scope The licensed company does not serve this country

Olymp Trade

VFSC company No. 40131 (Aollikus Limited) Vanuatu Confirmed in the register Entry found, name and number match

Binomo

IFC (FinaCom) Category A International Dispute body, not a regulator Membership of a complaints scheme, not supervision

Expert Option

Financial Commission (member) International Dispute body, not a regulator Membership of a complaints scheme, not supervision

Exnova

None found — No licence found No register entry under the broker's name

BinaryCent

None found — Named in a fraud notice The regulator states it never licensed this broker

Order follows our overall ranking. We publish no licence year: the registers we used do not state one for every entry, and a date we cannot source is not a fact.

§ 3 · Consequences

What follows

Protection of funds

Indonesia investor-protection rules do not apply to an offshore broker. Any compensation depends on the foreign body named on the licence — and on which of the broker's companies holds your account.

Resolving disputes

A complaint goes to the broker first, then to whoever is named on the licence. The Bappebti cannot rule on a broker it has never licensed.

Country restrictions

Several foreign regulators forbid the company they license from serving clients here. The company on your account agreement is the one that matters, not the brand on the app.

Taxes

Profits may be taxable where you live whatever the broker's licence says. Keep your statements; we do not give tax advice.

§ 4 · Method

How we verify

What counts as confirmation

An active entry in the regulator's own register where the company name and the number both match what the broker shows clients. A logo, a certificate picture or a membership badge on the broker's site does not count.

1
Record what the broker claims
The legal entity, regulator and number shown in the broker's own footer, terms and account agreement.
2
Search the regulator's register
That entity is looked up in the regulator's public register directly, never through a link the broker supplies.
3
Match name, number and status
The entry must be active and both name and number must match. A partial match is published as “no licence found”, not as a licence.
4
Look for public warnings
We search the local regulator's press releases for the brand and its domains. That is how the warning in this register got here.
5
Date every line
Each result carries the date it was checked, and the whole register is re-read monthly.

Ask

Trading shares and commodity futures through a locally licensed broker on the local exchanges is legal and supervised. The regulator has licensed no offshore platform to offer forex or fixed-time trading to the public here, and describes such platforms as unauthorised.