Brokerage firms in Indonesia provide access to the Indonesia Stock Exchange (IDX), the country's primary securities market, offering equities, bonds, mutual funds, ETFs, and IPOs. Regulated by the Financial Services Authority (OJK) and Indonesia Stock Exchange (IDX), these firms support a market with over 900 listed companies (JCI Index at ~7,300 points as of October 31, 2025, up ~8.5% YTD), a market capitalization of ~IDR 11,000 trillion (US$700 billion), and surging retail participation (over 12 million investor accounts, +15% YoY). In 2025, the sector includes ~100 OJK-licensed securities companies, blending full-service (research, advisory) with digital platforms (e.g., Stockbit, Ajaib). "Best" brokers prioritize low commissions (IDR 0–10,000 per trade), reliable IDX platforms, customer service in Indonesian/English, and OJK compliance amid a growing market (JCI projected 10-15% growth, driven by consumer/tech sectors).

This guide, updated as of October 31, 2025, ranks and details top firms based on IDX turnover (volume/value; daily ~IDR 15-20 trillion), active clients (from OJK/IDX data), user ratings from BrokerChooser (5/5 scale), Euromoney, and Reddit/IndonesiaInvesting, plus criteria like fees, platform usability, branch networks (Jakarta, Surabaya), and regulatory standing. We cover largest by turnover/clients, best overall picks, detailed profiles for the top 10, comparisons, regulations, trends, and selection tips. Data reflects 2025 trends: Digital trading at 75%+ (Ajaib/Stockbit lead), ETF surge (+20% AUM), and foreign investor inflows (QFII up 12%).

Largest Brokerage Firms in Indonesia by Turnover and Active Clients (IDX/OJK Data, Q3 2025)

IDX ranks brokers by order volume; top 10 handle ~60% of retail flow. Securities houses dominate; banks via subsidiaries. H1 2025 data shows UBS/Mandiri leading value.

Top 10 by Turnover (IDX H1 2025 Value Leaders)

Top 10 by Active Clients (Est. from OJK/IDX, 2025)

Sources: IDX H1 2025, Euromoney, BrokerChooser, Asia Forex Mentor. Total active clients ~12M; top 10 hold ~60%.

Best Overall Brokerage Firms in Indonesia 2025

Aggregating ratings from BrokerChooser, Euromoney, Asia Forex Mentor, and Reddit/IndonesiaInvesting. Focus on IDR 0–10,000 trades, app ratings (4.5+), and OJK licensing.

Best for Beginners and Overall

Best for Active Traders (F&O / Volume)

Best for Low Costs and ETFs

Best for Full-Service and HNWIs

Detailed Profiles of the Top 10 Brokerage Firms in Indonesia

1. Mandiri Sekuritas

• Overview: Bank Mandiri subsidiary; Jakarta; Euromoney Best Broker 2025; 770k+ retail equity investors.
• Fees: IDX: IDR 0–5,000; US: IDR 0; AMC: Free.
• Account Types: ISA, Retirement Fund.
• Platform: Growin' app (4.7/5); integrated with Livin' by Mandiri.
• Pros: Digital ecosystem, research, IPOs; OJK-licensed.
• Cons: Peak delays.
• Best For: Retail/all; 2025: H1 IDR 281.62T.

2. UBS Sekuritas Indonesia (AK)

• Overview: UBS global arm; Jakarta; H1 leader IDR 289.54T.
• Fees: IDX: 0.15-0.3%; F&O: 0.02-0.1%; AMC: Low.
• Account Types: ISA, Global.
• Platform: UBS app (4.6/5).
• Pros: Institutional strength, global access; OJK-reg.
• Cons: Higher for retail.
• Best For: Institutions.

3. Maybank Sekuritas Indonesia

• Overview: Malaysian firm; Jakarta; H1 IDR 223.57T.
• Fees: IDX: IDR 0–10,000; ETFs: IDR 0; AMC: Free.
• Account Opening: Free e-KYC.
• Investment Options: IDX stocks, regional, IPOs.
• Customer Service: 24/7 chat; Maybank app (4.5/5).
• Pros: Regional appeal, execution; OJK-licensed.
• Cons: FX fees.
• Best For: ASEAN traders.

4. Mirae Asset Sekuritas Indonesia

• Overview: Korean-backed; Jakarta; ETF/IPO strong.
• Fees: IDX: IDR 0; F&O: IDR 2,000/lot; AMC: Free.
• Account Opening: Free.
• Investment Options: IDX stocks, ETFs, IPOs.
• Customer Service: Phone/app; 4.6/5 rating.
• Pros: ETF leader, research; OJK-reg.
• Cons: Less retail support.
• Best For: ETFs.

5. BRI Danareksa Sekuritas

• Overview: BRI Bank arm; Jakarta; H1 IDR 151T.
• Fees: IDX: IDR 0–5,000; AMC: Free first year.
• Account Opening: Free.
• Investment Options: IDX stocks, bonds, IPOs.
• Customer Service: Branches; BRI app (4.5/5).
• Pros: Bank perks, execution; OJK-authorized.
• Cons: Slower digital.
• Best For: Bank-linked.

6. Indo Premier Sekuritas

• Overview: Local pioneer; Jakarta; wide services.
• Fees: IDX: IDR 0–10,000; F&O: IDR 3,000/lot.
• Account Opening: Free e-KYC.
• Investment Options: IDX stocks, mutual funds, IPOs.
• Customer Service: 24/7 app; IPOT app (4.4/5).
• Pros: Beginner-friendly, MFs; OJK-reg.
• Cons: Variable fees.
• Best For: Beginners.

7. MNC Sekuritas

• Overview: MNC Group; Jakarta; Euromoney Best Retail 2025; 141 branches.
• Fees: IDX: IDR 0; ETFs: IDR 0; AMC: Free.
• Account Opening: Free.
• Investment Options: IDX stocks, IPOs.
• Customer Service: Branches/phone; MNC app (4.5/5).
• Pros: Retail reach, no hidden; OJK-licensed.
• Cons: Basic tools.
• Best For: Retail.

8. NH Korindo Sekuritas Indonesia

• Overview: Korean-backed; Jakarta; online growth.
• Fees: IDX: IDR 0–5,000; F&O: IDR 2,500/lot.
• Account Opening: Free.
• Investment Options: IDX stocks, ETFs.
• Customer Service: App/chat; 4.4/5.
• Pros: Online rising, ETFs; OJK-reg.
• Cons: Less branches.
• Best For: Online traders.

9. BNP Paribas Sekuritas Indonesia

• Overview: French global; Jakarta; institutional.
• Fees: IDX: 0.2-0.4%; F&O: 0.03-0.08%.
• Account Opening: Free.
• Investment Options: IDX stocks, bonds.
• Customer Service: Advisory.
• Pros: Global research; OJK-authorized.
• Cons: Higher min IDR 100M.
• Best For: Institutions.

10. J.P. Morgan Sekuritas Indonesia (BK)

• Overview: JP Morgan arm; Jakarta; H1 IDR 151T.
• Fees: IDX: 0.15-0.3%; F&O: 0.02-0.05%.
• Account Opening: Free.
• Investment Options: IDX stocks, IPOs.
• Customer Service: Phone.
• Pros: High-value, execution; OJK-reg.
• Cons: Institutional bias.
• Best For: IPOs.

Comparisons: Key Metrics Across Top Firms

Regulations and Governing Bodies in Indonesia

• Regulator: OJK (Financial Services Authority).
• Key Rules:
• Tiered commissions (0.15-0.3% for <IDR 100M).
• T+2 settlement; DCV via KPEI.
• RDB (tax-free: IDR 100M/year).
• Investor Protection:
• SIPF (up to IDR 100M).
• OJK mediation.
• 2025 Updates:
• RDB expansion (IDR 200M limit).
• Digital KYC via e-KTP.
• ESG mandatory for IDX30.

2025 Trends and Market Insights

• Stable Growth: JCI ~7,300 (+8.5% YTD); 10–15% projected (consumer, tech).
• RDB Surge: IDR 500T AUM (+20% YoY); 12M accounts.
• Digital Boom: 75% app trades (Mandiri/MNC).
• ETF/Global: US ETFs +25%; QFII inflows IDR 200T.
• Challenges: Inflation (3%), 65% retail losses.
• Growth: 12M+ accounts (+15% YoY); brokerage revenue IDR 50T.

How to Choose the Best Brokerage Firm in Indonesia

Tips:

• Open RDB first (tax-free).
• Use e-KTP for e-KYC.
• Link bank for auto-funds.
• Diversify with ETFs.

For latest, visit ojk.go.id or idx.co.id.
Trading involves risk—invest wisely.