Featured Country: Indonesia
The country's 67 BAPPEBTI-supervised futures brokers serve 71,000 active retail customers in a regime that requires foreign entrants to acquire an existing licensee. XTB, Plus500, Doo Financial, Webull and Robinhood have used that path in the past 24 months.
Indonesia's Perdagangan Berjangka Komoditi (PBK) market reached Rp33,214.89 trillion (approximately US$1.94 trillion) in notional turnover in 2024, a 29.34% year-over-year increase, according to BAPPEBTI. The Commodity Futures Trading Regulatory Agency licensed 67 active Pialang Berjangka as of Q4 2025, with active retail customers up 53.93% year-over-year to 70,676 in November 2024. New entry remains restricted: foreign brokers cannot apply directly and must acquire an existing licensee, a path taken by XTB (PT Rajawali Kapital Berjangka, January 2024), Plus500 (PT Global Intra Berjangka), Doo Financial Futures, Webull and Robinhood within the past 24 months. Effective January 10, 2025, BAPPEBTI transferred crypto assets and securities derivatives to OJK and Bank Indonesia under Law No. 4/2023, opening a 24-month dual-regulator transition that ends January 10, 2027.
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