20,0%
Top 3
10,0%
Top 5
7,0%
Top 10
5,0%
Top 20
1,0%
Top 40
0,5%
Top 100
0,2%
Top 100+
0,05%
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Indodax Review 2024
Minimum
deposit:
deposit:
- $1
Trading platform:
- TradingView
Minimum
deposit:
deposit:
- $1
Trading platform:
- TradingView
Trading features:
- An easy-to-use trading terminal, a convenient mobile application, the rupee is the only fiat, no investment programs, standard single-tier referral program, low commissions, developed community forum
Summary of Indodax Crypto Exchange
Indodax is a cryptocurrency exchange with higher-than-average risk and the TU Overall Score of 3.46 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Indodax clients on our website, Traders Union expert Anton Kharitonov recommends users to consider a more reliable broker with better conditions, as, according to reviews, many clients of this broker are not satisfied with the company’s work. Indodax ranks 86 among 173 companies featured in the TU Rating, which is based on the evaluation of 100+ criteria.
The Indodax cryptocurrency exchange offers favorable terms of cooperation. It is focused on active trading in cryptocurrencies and tokens, the pool of which is regularly replenished through the free listing. There are no investment solutions or passive earnings options on the platform (except for the typical one-level referral program). There are no demo accounts or training materials, and no minimum deposit. However, the interface of the trading terminal is simple and user-friendly.
NOTE!
If you are planning to trade cryptocurrencies, and not just keep your savings in crypto wallets, we recommend that you choose one of the top brokers with reliable regulation and access to trading crypto CFDs. This type of trading will help you avoid holding your cryptocurrency in e-wallets of exchanges, which quite regularly get hacked. Also, availability of leverage will allow you to trade crypto CFDs for amounts much higher than your deposit.
Traders Union experts recommend considering Top 3 companies from our rating:
Editorial Note: We are unable to verify the validity of reviews and publish all reviews, both positive and negative,
in accordance with the
Users Reviews Policy.
The Indodax cryptocurrency exchange is the largest in Indonesia and one of the world’s leading platforms for exchanging and trading cryptocurrency. Bitcoin (₿), Ethereum (Ξ), Ripple, DASH (Ð), dozens of other altcoins, and tokens are traded on it. Of the fiats, they have only the Indonesian rupee (IDR). The platform has a standard TradingView terminal, and there is also an opportunity for mobile trading. Trading fees are fixed at 0% for the maker and 0.3% for the taker. There are no commissions to start trading/exchanging. In terms of commissions, Indodax makes one of the best deals in the market segment. The platform does not offer investment solutions. You can only earn passively through the referral program. There is a FAQs section for beginners, but no demo accounts. You have access to several options for depositing/withdrawing cryptocurrencies and fiats.
| 💰 Account currency: | Cryptocurrencies, IDR |
|---|---|
| 🚀 Minimum deposit: | $1 |
| ⚖️ Leverage: | 1:1 |
| 💱 Spread: | Market |
| 🔧 Instruments: | Cryptocurrencies, currencies |
| 💹 Margin Call / Stop Out: | No |
👍 Advantages of trading with Indodax:
- many cryptocurrencies and tokens and exchange/trade are possible in tandem with the Indonesian rupee;
- cold storage of funds, two-factor authentication, high level of information security;
- convenient trading terminal, mobile application with an intuitive interface;
- high-speed platform with impressive trading volumes in the 24/7 mode;
- prompt technical support (there is a multi-channel call center and email);
- objectively low trading commissions, no commissions for depositing funds (fees are charged only in special cases);
- the platform operates officially and transparently under the license of the national regulator.
👎 Disadvantages of Indodax:
- no demo accounts or tutorials for beginners;
- only the Indonesian rupee (IDR) is available among fiats to trade.
Evaluation of the most influential parameters of Indodax
Geographic Distribution of Indodax Traders
Popularity in
88.4%
ID
3.6%
US
1%
SG
0.6%
SA
3.4%
Others
User Satisfaction i
19 comments
Total score:
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Expert Review of Indodax
The Indodax crypto exchange was founded in 2013. Initially, its name was Bitcoin Indonesia, it was the first and for a long time the only one in Indonesia. In 2018, the company underwent a rebranding and entered the international level. The exchange operates transparently following the financial legislation of Indonesia, and there are international regulators, too.
The main advantage of the platform, which today attracts many traders from different countries, is the combination of low commissions and comfortable trading. There are no investment programs or additional options on the exchange. Instead, indodax.com focuses on actively trading crypto-crypto and crypto-fiat pairs. Unfortunately, the only fiat is the Indonesian rupee.
The exchange is convenient for beginners, as there is no minimum deposit and low fees (0% for the maker, 0.3% for the taker). Commissions are fixed and do not depend on third-party factors. That is, a beginner does not need to trade a certain amount of cryptocurrency to get a discount. Additionally, trading fees can be reduced due to the rebates from the Traders Union, which makes trading even more profitable. Withdrawal fees are only ₿0.0005 (not relevant for all cryptocurrencies), this is the average for the market segment.
The exchange has high-quality protection of user funds and data. It uses advanced multi-level encryption protocols, email and SMS authentication from Google Authenticator. Funds are stored using the cold storage method. Traders Union’s experts did not reveal any technical problems during the testing.
Dynamics of Indodax’s popularity among
Traders Union’s traders, according to 2023 data
Investment Programs, Available Markets, and Products of the Crypto Exchange
Indodax does not offer investment solutions. There is no staking, no investment in mining, no lending, and no other options for passive earnings on it. Platform users can receive income mainly from active trading (purchase and sale) of cryptocurrencies and tokens. The only opportunity for additional income is participation in the referral (affiliate) program.
Important!
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
Indodax’s affiliate programs:
Indodax offers a standard single-tier referral program. After registration and verification (data confirmation) in your personal account, you will find an individual partner ID in the form of a link. You can copy it and post it anywhere, such as on your personal blog, on social networks, or on your homepage, etc.
Each user who follows your link and registers with the exchange will become your referral. You will receive 10% of the referral’s trading commissions. The program is level, that is, you will not be able to receive payments for users who were invited by your referrals. It is unlimited, payments are available for as long as your referrals trade on the platform.
The referral program does not impose any restrictions on you. You can have any number of partners and attract them to the platform by all means available to you. Referral payments are made promptly after the transaction is completed by the partner. They are transferred in the currency of the transaction to your main account.
Trading Conditions for Indodax Users
The Indodax cryptocurrency exchange does not require the user to enter a deposit of a certain amount to the platform to start trading. You only need to register and confirm your data, then determine your financial policy within the platform. The exchange does not provide leverage or loans, and you must trade only with your own assets. Technical support works around the clock, without breaks, and on weekends. The platform contains the call center phone number and contact email. You can also use the Help Center (“Help” tab), where you can send a request to technical support in the form of a ticket.
$1
Minimum
deposit
1:1
Leverage
24/7
Support
| 💻 Trading platform: | Desktop version – TradingView |
|---|---|
| 📊 Accounts: | Standard |
| 💰 Account currency: | Cryptocurrencies, IDR |
| 💵 Replenishment / Withdrawal: | Bank accounts, electronic and cryptocurrency wallets |
| 🚀 Minimum deposit: | $1 |
| ⚖️ Leverage: | 1:1 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | from 0 |
| 💱 Spread: | Market |
| 🔧 Instruments: | Cryptocurrencies, currencies |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | N/A |
| ⭐ Trading features: | An easy-to-use trading terminal, a convenient mobile application, the rupee is the only fiat, no investment programs, standard single-tier referral program, low commissions, developed community forum |
| 🎁 Contests and bonuses: | Yes, TU’s bonuses via rebates |
Broker comparison table of trading instruments
| Indodax | Bybit | MEXC | Binance | Huobi Global | CoinEx | |
| Forex | No | No | No | Yes | Yes | No |
| Metalls | No | No | No | No | No | No |
| Crypto | Yes | Yes | Yes | Yes | Yes | Yes |
| CFD | No | No | No | No | No | No |
| Indexes | No | No | No | No | No | No |
| Stock | No | No | No | No | No | No |
| ETF | No | No | No | No | No | No |
| Options | No | No | No | No | No | No |
Indodax Commissions & Fees
Information
Indodax charges a flat fee of 0.3% for taker/instant stop order. The maker’s commission is always 0.0%. Please note that in some situations, the taker’s commission may be less than 0.3%. They are described in detail in the “Indodax detailed fees” section of the support center.
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | up to 0.3% per order | Yes |
If you deposit funds from other cryptocurrency wallets or e-accounts, there is no deposit fee. However, if you enter fiat (regardless of the input channel used), the commission is 1%.
The fiat withdrawal fee is 25,000 IDR for transactions less than 100,000,000 IDR. If the withdrawal amount is more than the specified one, the fee will be 100,000 IDR. The commission for the withdrawal of a cryptocurrency or token is in most cases dynamic and depends on the state of the market of the leading cryptocurrency. For example, the withdrawal fee for 1 Inch, Aave, and Axie Infinity depends on the state of the Ethereum market.
For Bitcoin, the withdrawal fee is always fixed at ₿0.0005. This is true for some other assets as well. For example, the fee for withdrawing Cardano is always 1 ADA, for withdrawing Bitcoin Cash it is ₿0.0005, for withdrawing BitTorrent is 100 BTT.
| Broker | Average commission | Level |
| Indodax | $3 | Medium |
| Bybit | $20 | High |
| Bitfinex | $0.1 | Low |
Contacts
| Foundation date | 2014 |
| Registration address | Gedung Millennium Centennial Center Lt.2, Jln. Jend. Sudirman No.Kav 25, RT.4/RW.2, Kuningan, Jakarta Selatan |
| Official site | https://indodax.com/ |
| Contacts |
Email:
support@indodax.com,
Phone: 021-50959800 |
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FAQs
Do reviews by traders influence the Indodax rating?
Any review can raise or lower the rating of any broker in the general list of brokers. To read reviews about Indodax you need to go to the broker's profile.
How to leave a review about Indodax on the Traders Union website?
To leave a review about Indodax, register on the Traders Union website or you can also leave a review through Facebook.
Is it possible to leave a comment about Indodax on a non-Traders Union client?
Anyone can leave feedback about Indodax on multiple participating clients; however, Traders Union clients also receive additional payments later for working with any broker listed at the Forex market.
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