Indodax Fees and Minimum Deposit - TU Expert review

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After considering a crypto exchange’s security, examining its fees is the next crucial step. Lower fees translate to higher potential profits. Newcomers to crypto trading may also want to consider the minimum deposit required to start trading, as they might prefer to begin with a smaller investment.

Traders Union analysts have assessed Indodax fees and minimum deposit requirements to help prospective crypto traders make informed decisions.

Short introduction of Indodax

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.

👍 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.

Indodax Commissions and 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

A broker is an intermediary between a trader and an exchange. Therefore, brokers charge fees for their services. The fees may have different structure.

There are the following fees in the Crypto market:

  • Spread – the difference between the buy and the sell price of an asset.

  • Commission per lot.

  • Commission per trade.

Broker fees may differ depending on the trading account type. For example, on some accounts spread is used as a trading fee, and on others – commission per lot.

Why is it important to consider the minimum deposit at a cryptocurrency exchange?

  • Accessibility: The minimum deposit helps traders determine if they can afford to start trading on an exchange.

  • Risk Management: Exchange-set minimum deposits ensure traders have sufficient funds to cover potential losses and fees, preventing financial overextension.

  • Platform Suitability: The minimum deposit amount can be an indicator of the exchange’s target audience and trading volume, aiding traders in selecting a platform aligned with their goals.

  • Cost Considerations: Assessing minimum deposit requirements helps traders account for trading expenses.

Are the fees and minimum deposit requirements at Indodax suitable for beginners?

Analysis of Indodax shows that the broker has a rather high minimum deposit. It could pose a problem for traders, who are only starting their path in trading. Nevertheless, the fees are low. Therefore, the broker will be a good choice for professional traders.

Igor Krasulya

Igor Krasulya

Author at Traders Union

FAQs

Can the level of the fees change if different accounts imply the use of different platforms?

Yes. Some brokers offer different trading platforms on different types of trading accounts. In this case, the size of the fee may change.

Can you cover the fees with bonuses?

Yes, it is possible. Some brokers offer a welcome or deposit bonus that can be used to cover the fees.

Can you reduce the fees?

As a rule, the fees depend on the trading account type. Also, companies may have special offers.

Team that worked on the article

Mikhail Vnuchkov
Author at Traders Union

Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.

Dr. BJ Johnson
Dr. BJ Johnson
Developmental English Editor

Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.