ICDX Regulated Brokers

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.

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.