BAPPEBTI Regulated Brokers

Forty-six brokers in the WIKILIX database hold an active licence from BAPPEBTI, Indonesia's commodity futures regulator, and carry a clean status label. This page lists all of them, ordered by WIKILIX score. The scores sit low. The median is about 27 out of 100, and only two brokers clear 50: Dupoin at 51.8 and CGS International at 50.8. That gap tells you something before you open a single profile. A BAPPEBTI licence proves a broker is registered to operate inside Indonesia, but on its own it does not lift a broker the way a top-tier European or Australian authorisation tends to.

The list is generated from licence records rather than kept by hand. Any broker whose status is not clean was dropped: 12 entries that hold a BAPPEBTI registration but sit under an adverse status flag such as scam or offshore are excluded, including one that scored 80.9 and would otherwise have headed the page. The 46 that remain are below.

What a BAPPEBTI licence actually covers

BAPPEBTI, the Badan Pengawas Perdagangan Berjangka Komoditi, licenses commodity and derivatives futures brokers that operate in Indonesia. WIKILIX classifies it as a tier-3 regulator, which places it below authorities such as the FCA or ASIC in the framework this site uses. A licence here requires client money to be held in segregated accounts and retail futures orders to clear through a local exchange. That is why 28 of the 46 also appear under a second authority, and in almost every case that second body is the Jakarta Futures Exchange (JFX) or the Indonesia Commodity and Derivatives Exchange (ICDX), both domestic institutions rather than foreign regulators.

These are not new arrivals. Twenty-eight of the 46 opened before 2010, and the oldest, CGS International, dates to 1987. Long domestic histories are common: Agrodana Futures and MIFX both opened in 2000, and MRG Mega Berjangka in 1998. Only a few are recent, such as Langit Indonesia Berjangka in 2024.

Why the leverage figure here is not what you will trade

Eighteen of the brokers on this list show a maximum of exactly 1:100, the ceiling BAPPEBTI sets for the Indonesian licensed entity. Fifteen others show 1:400 or more, a few as high as 1:1000. Those higher numbers belong to an offshore sister entity, not to the account a BAPPEBTI licence covers. Read the ratio on any card as the broker's global headline, then confirm which entity you would actually be contracting with before you trust it.

Where these brokers are based

Most are Indonesian companies. The PT prefix in names like PT Valbury Asia Futures and PT Bestprofit Futures marks a local incorporation. A few sit elsewhere: CGS International is domiciled in Singapore, Dupoin in the United Kingdom, KVB in Comoros, and RR Financial Consultants in India. Holding a BAPPEBTI licence signals that a broker may serve the Indonesian market. It does not tell you where the company is based or which legal entity would hold your funds.

Before you open an account with any of these

• Search the company name in BAPPEBTI's own Market Practitioners register at bappebti.go.id and confirm the licence is current rather than lapsed or revoked.
• Check which legal entity the account contract names. A BAPPEBTI licence covers the Indonesian PT company, not an offshore one that may onboard you instead.
• Confirm the leverage attached to your real account. If a broker advertises 1:500 while holding only a BAPPEBTI licence, ask which entity offers that figure.
• See whether the broker is also a JFX or ICDX member, which is how Indonesian retail futures orders are meant to clear.