Indonesia Binary Options
Due to its massive population of 260+ million, there are a large number of Indonesian binary option traders. While binary trading remains popular, the government authorities have taken steps in recent years to block internet access to foreign brokers.
As there are no domestic brokers in Indonesia that offer binary options, traders are forced to look overseas to foreign brokers. And often VPN is the only way to access the broker sites and platforms.
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Depositing and Withdrawing
One of the challenges Indonesian trader face dealing with overseas brokers is being able to deposit and withdraw cheaply and efficiently. While most overseas brokers will accept Indonesia binary option traders, they often will not have suitable payment methods available.
One of the few brokers that has invested heavily in local bank transfer payments is Zentrader. Indonesian traders can deposit instantly from most Indonesian banks (BCA, Mandiri, CIMB, Maybank etc.). Withdrawals are paid within 12 hours.
Are Binary Options Legal in Indonesia?
Yes. While there are no licensed local brokers offering binary options, there is no law preventing Indonesians from dealing with overseas financial service providers.
Indonesia Binary Option Taxes
WARNING: The Indonesian tax system is highly complex and there is conflicting information on the treatment of income and capital gains from different types of investments. We recommend you seek professional advice on tax matters.
Binary option brokers do not and are not responsible for withholding and paying taxes. This is 100% responsibility of the trader.
Binary options in Indonesia are regulated by the OJK.
The OJK frequently puts out information and warnings encouraging Indonesians to only deal with locally licensed brokers. The constant URL blocking of overseas brokers is done by a separate government department. This is most likely on the request of the OJK and local brokers.