#1
Long Asia Group Ltd
RegulatedSaint Vincent and the GrenadinesEst. 2012FINTRAC
Regulation
License
Spread
61.1Score
Thirteen brokers in the WIKILIX records hold a membership licence from the Indonesia Commodity and Derivatives Exchange, and every one of them is listed below, ordered by overall score. ICDX is a commodity and derivatives exchange rather than a national regulator, so a seat on it sits alongside other licences rather than replacing them. Eleven of these thirteen also hold a BAPPEBTI licence, the Indonesian commodity futures authority that does the actual licensing. Scores here are low and tightly packed, with a median of 28.9 and only two firms clearing 50.
Those two are worth naming first. Long Asia Group, registered in Saint Vincent and the Grenadines, scores 54.8 and carries the widest licence set on the page, holding MAS and FinCEN registrations next to its ICDX seat. CGS International, a Singapore firm that opened in 1987, is the oldest broker here by more than a decade and the only one that caps leverage at 1:20. Everything below them scores between 26.1 and 33.5.
| Broker | Score | Other licences on file | Opened | Max leverage |
|---|---|---|---|---|
| Long Asia | 54.8 | MAS, FinCEN, FSCA, FINTRAC | 2012 | 1:500 |
| CGS International | 50.8 | BAPPEBTI, MAS | 1987 | 1:20 |
| 18FX | 33.5 | BAPPEBTI, JFX | 2003 | 1:400 |
| First State Futures | 30.2 | BAPPEBTI, JFX | 2009 | 1:200 |
| HSB | 29.3 | BAPPEBTI | 2018 | 1:400 |
| MRG Mega Berjangka | 29.1 | BAPPEBTI, JFX | 1998 | 1:100 |
| MIFX | 28.9 | BAPPEBTI, JFX | 2000 | 1:100 |
| FOREXimf | 28.4 | BAPPEBTI | 2004 | 1:500 |
What an ICDX licence actually covers
ICDX runs a marketplace for commodity and derivative contracts in Indonesia, including gold and crude palm oil. A broker with an ICDX seat is cleared to route client orders through that exchange, but the consumer-facing licensing comes from BAPPEBTI, the body also known as the Commodity Futures Trading Regulatory Agency. That is why the licence to check first for an Indonesian futures broker is usually the BAPPEBTI one, not the exchange membership. GIFX shows why the distinction matters: it holds only its ICDX seat with no BAPPEBTI record, it opened in 2024, and it is both the newest and the thinnest-licensed firm here.
Membership is not the same as who will take you on
An exchange seat is not a domicile and not a client agreement. Nine of the thirteen are registered in Indonesia, but 18FX is filed in Australia, Doo Financial in Hong Kong, CGS International in Singapore and Long Asia in Saint Vincent. Holding an ICDX seat tells you nothing about who each broker onboards or what it charges, and this page carries neither. Four of the thirteen also carry a status a reader should weigh before depositing: 18FX and e capital are recorded as suspicious clones, while Doo Financial and GIFX sit under a no-regulation label despite the exchange seat.
Why the licence mix says more than the score
The scores span a narrow band, so the order tells you less than the licence column does. Nine of the thirteen opened before 2010, and the four oldest, CGS International (1987), MRG Mega Berjangka (1998), MIFX (2000) and Inter Pan (2001), have each traded for more than two decades. Long Asia and CGS International are the two firms whose files carry a tier-1 licence, both through the Monetary Authority of Singapore, with Long Asia adding a FinCEN registration. The rest sit on tier-3 and tier-4 authorisations, which is normal for exchange-membership brokers but changes what recourse a client has if a dispute goes wrong.
Before you open an account with an ICDX member
- Confirm the BAPPEBTI licence on the CoFTRA register, since the exchange seat alone is not a consumer licence.
- Check which legal entity you would be contracting with: several firms here are filed outside Indonesia while holding an Indonesian exchange seat.
- Read the recorded status before anything else. Two firms on this list are marked suspicious clones and two are marked unregulated.
- Match the leverage to the entity, since caps range from 1:20 at CGS International to 1:500 at Long Asia, Doo Financial and FOREXimf.
- Verify the ICDX membership and BAPPEBTI number against ICDX and CoFTRA directly, not against the broker's own summary.
10brokers on this list
Researched & ranked by the Wikilix team
- #2
CGS International Securities Pte. Ltd.
RegulatedSingaporeEst. 1987BAPPEBTI
RegulationLicenseSpread51.5Score - #3
PT Prima Tangguharta Futures
No RegulationIndonesiaBAPPEBTIRegulationLicenseSpread33.7Score - #4
PT. MRG Mega Berjangka
RegulatedIndonesiaEst. 1998BAPPEBTIRegulationLicenseSpread31.1Score - #5
PT. Century Investment Futures
RegulatedIndonesiaEst. 2004BAPPEBTIRegulationLicenseSpread31.1Score - #6
PT Quickpro Berjangka Indonesia
OffshoreIndonesiaEst. 2004JFXRegulationLicenseSpread29.9Score - #7
PT. TRFX Garuda Berjangka
No RegulationIndonesiaBAPPEBTIRegulationLicenseSpread29.7Score - #8
PT RRFX Investasi Berjangka
RegulatedIndonesiaEst. 2007BAPPEBTIRegulationLicenseSpread28.8Score - #9
PT Pasar Forex dan Komoditi Berjangka
RegulatedIndonesiaEst. 2022BAPPEBTIRegulationLicenseSpread24.8Score - #10
PT. Mentari Mulia Berjangka
No RegulationIndonesiaBAPPEBTIRegulationLicenseSpread17.0Score
This list is rebuilt from the licence records WIKILIX holds, so a broker that gains or loses its ICDX seat moves on or off the page without anyone editing it by hand. The scores and status labels are the ones on record today, and both can change as records are rechecked, so read the ranking as a snapshot rather than a fixed order.
Because the exchange seat is only part of the picture, the natural next step is the licence that does the consumer protection. Traders comparing Indonesian futures firms usually want the BAPPEBTI register alongside this one, and six of the brokers here also hold a seat on the Jakarta Futures Exchange, which WIKILIX tracks as its own list. To confirm any authorisation before depositing, check the firm against CoFTRA (BAPPEBTI) and the ICDX membership records rather than trusting a broker's own account of its status.
Open any broker above for its full licence history, domicile and recorded status on WIKILIX.
Frequently Asked Questions
Frequently asked questions
Answers from the Wikilix research team about this ranking.
Most Popular Questions
This page cannot tell you. It ranks brokers by the licences they hold and where they are registered, not by which countries they accept clients from. Some of these firms are domiciled abroad, but that does not confirm they will onboard you. Check each broker's own account terms and confirm its licence on the CoFTRA register before depositing.
Four of the thirteen do. 18FX and e capital are recorded as suspicious clones, and GIFX and Doo Financial sit under a no-regulation label despite holding the exchange seat. The remaining nine carry a clean regulation status. Always read the recorded status before you treat a listing as a recommendation.
Nine of the thirteen are registered in Indonesia. The other four are filed elsewhere: 18FX in Australia, Doo Financial in Hong Kong, CGS International in Singapore and Long Asia in Saint Vincent and the Grenadines. An ICDX seat is a trading membership, not a marker of where the company is headquartered.
Not all of them. Eleven of the thirteen hold a BAPPEBTI licence alongside their ICDX seat. The two that do not are GIFX, which holds only its ICDX membership and carries a no-regulation label, and Long Asia, whose file instead lists offshore and tier-1 licences from MAS, FinCEN, FSCA and FINTRAC.
CGS International, the Singapore firm, which opened in 1987 and is the oldest here by more than a decade. After it come MRG Mega Berjangka from 1998, MIFX from 2000 and Inter Pan from 2001. Nine of the thirteen brokers opened before 2010.
No. ICDX is a commodity and derivatives exchange in Indonesia, not a licensing authority. The consumer-facing regulation for Indonesian futures brokers comes from BAPPEBTI, also called CoFTRA. On this list, eleven of the thirteen also hold a BAPPEBTI licence, and that is the authorisation worth checking first.
Exactly thirteen, as of today. That is the complete set of brokers WIKILIX has on record with an ICDX exchange seat, including four that carry a warning status. The list is generated from the licence records, so a broker gaining or losing its seat appears or drops off without anyone editing this page.
Thirteen brokers on WIKILIX hold an ICDX membership licence. They range from Long Asia and CGS International, the two highest scored, down to smaller Indonesian futures firms like Inter Pan and Century Investment Futures. The full ranked list, with each firm's other licences and recorded status, is on this page.