The 10 Longest-Established BAPPEBTI Regulated Brokers

Ten BAPPEBTI-licensed firms carry the longest recorded trading histories of any broker we track under Indonesia's futures regulator, and the oldest of them, CGS International, opened in June 1987. This page ranks those ten oldest first, drawn from 33 clean-status BAPPEBTI brokers that have each traded for at least a decade. The order is track record alone: how long a firm has operated, not its spreads or how loudly it advertises.

How the ranking is ordered

Every firm here holds a live BAPPEBTI licence and a clean regulatory status on WIKILIX. We placed them by earliest recorded opening date, oldest first, and where two share the same recorded date the higher WIKILIX score takes the higher position. That tie-break decides positions four and five, where MIFX and Asiapro both date to 2000, and positions nine and ten, where CFForex and Victory International Futures both date to 2003.

The shortlist is drawn from a wider group. Of the 58 BAPPEBTI brokers on record, 40 have traded for at least ten years, and 33 of those carry a clean status. Seven older firms were left off because their record is flagged: one is marked as a scam, two as suspicious clones, three for offshore operation, and one has no status recorded at all. Only the clean 33 were eligible, and the ten above are simply the oldest of them.

What a BAPPEBTI licence covers, and what these firms also hold

BAPPEBTI, the Badan Pengawas Perdagangan Berjangka Komoditi, is Indonesia's futures and commodity trading regulator, operating under the Ministry of Trade. A licence from it lets a firm offer futures and forex contracts to Indonesian residents, and the agency limits foreign brokers from taking those clients directly. That is why 30 of the 33 eligible firms are Indonesian PT companies, with only CGS International in Singapore, RR Financial Consultants in India and KVB in Comoros domiciled elsewhere.

Many of these brokers back the BAPPEBTI licence with membership of Indonesia's own exchanges. Eighteen of the 33 hold two or more authorities on record, and the usual companions are the Jakarta Futures Exchange (JFX) and the Indonesia Commodity and Derivatives Exchange (ICDX). MRG Mega Berjangka, MIFX and Inter Pan each sit under all three. CGS International is the outlier, a Singapore firm that pairs its BAPPEBTI entry with a Monetary Authority of Singapore licence, and its score of 50.8 is the highest here by a wide margin. The rest cluster well below it, around a median of 27.2 across the eligible 33.

What this ranking does not tell you

Age measures survival, not price or service. This list says nothing about spreads or execution speed, and it does not rate customer support. Leverage swings hard between these firms: Solid Gold Berjangka advertises up to 1:1000, while CGS International caps out at 1:20, and several records carry no leverage figure at all. A long history also does not settle which entity you would contract with, or which of a firm's licences actually applies to your account.

• Look up the firm's BAPPEBTI number on the regulator's own register, and confirm the company name matches the entity you are signing with.
• Check whether your account sits with the Indonesian licensed company or an overseas arm, because only the BAPPEBTI-licensed entity answers to Indonesian rules.
• See whether the broker also holds JFX or ICDX membership, which ties its contracts to a domestic exchange.
• Read a high leverage cap as a risk setting, and check the level the firm applies to your account by default.