JustMarkets vs XM Trading Indonesia: Full Broker Comparison for 2025

The forex market in Indonesia continues to grow rapidly, with more traders searching for reliable and regulated brokers. Among the most popular names are JustMarkets and XM Trading. Both brokers have established a strong presence in Asia and worldwide, but each offers different advantages that might suit different types of traders.

In this article, we will provide a comprehensive comparison of JustMarkets vs XM Trading Indonesia, covering regulation, account types, spreads, platforms, trading tools, bonuses, customer support, and deposit/withdrawal methods. By the end, you will have a clear understanding of which broker might fit your trading needs better in 2025.

1. Company Background

JustMarkets

JustMarkets, previously known as JustForex, has been operating since 2012. The broker has grown into a trusted name in Asia, Africa, and Latin America. With a strong presence in Indonesia, JustMarkets is known for offering competitive trading conditions, multiple account types, and localized deposit options.

  • Founded: 2012

  • Regulation: FSA (Seychelles)

  • Focus in Indonesia: High leverage, local payment methods, promotional bonuses

XM Trading

XM was founded in 2009 and is one of the largest global forex and CFD brokers. The company operates under multiple entities regulated in Cyprus, Belize, and other jurisdictions. In Indonesia, XM is popular for its educational resources, tight spreads, and strong reputation worldwide.

  • Founded: 2009

  • Regulation: CySEC, IFSC, ASIC (varies by entity)

  • Focus in Indonesia: Professional trading environment, low spreads, trusted global brand

2. Regulation and Trustworthiness

JustMarkets Regulation

JustMarkets is regulated by the Financial Services Authority (FSA) of Seychelles. While offshore regulation may not be as strong as European or Australian licenses, JustMarkets has built credibility through transparent trading conditions and a large active client base in Indonesia.

XM Trading Regulation

XM is heavily regulated by multiple authorities, including CySEC (Cyprus), ASIC (Australia), IFSC (Belize). This multi-layer regulation makes XM more appealing for traders who prioritize safety of funds and strict compliance standards.

👉 Verdict: XM has stronger global regulation, while JustMarkets focuses on accessibility for Indonesian traders.

3. Account Types Comparison

JustMarkets Accounts

JustMarkets provides flexible account options for both beginners and advanced traders:

  1. Standard Cent Account – ideal for beginners with very small deposits.

  2. Standard Account – simple, no commission, floating spreads.

  3. Pro Account – tighter spreads, better for active traders.

  4. Raw Spread Account – ECN-like environment with raw spreads and commission.

Leverage goes up to 1:3000, making it attractive for traders seeking higher exposure.

XM Accounts

XM offers fewer but structured account types:

  1. Micro Account – similar to cent trading, suitable for beginners.

  2. Standard Account – no commission, floating spreads.

  3. XM Ultra Low Account – tighter spreads, no hidden commissions.

  4. Shares Account – for stock CFDs with fixed conditions.

Leverage varies depending on jurisdiction, but in Indonesia, traders can access up to 1:1000 leverage.

👉 Verdict: JustMarkets offers more flexibility and higher leverage, while XM provides stability with lower risk leverage levels.

4. Spreads, Commissions, and Fees

JustMarkets

  • Spreads: From 0.0 pips on Raw Spread accounts

  • Commission: Around $3 per side per lot (Raw Spread)

  • Overnight Swaps: Applicable but swap-free accounts are available for Muslims in Indonesia

XM Trading

  • Spreads: From 0.6 pips on Ultra Low accounts

  • Commission: No commission for standard accounts; raw spread accounts may apply fees (varies by entity)

  • Overnight Swaps: Available, swap-free option also provided

👉 Verdict: For ultra-low spreads, JustMarkets is slightly better, but XM offers consistent spreads without hidden costs.

5. Trading Platforms

Both JustMarkets and XM support MetaTrader 4 (MT4) and MetaTrader 5 (MT5), the world’s most popular trading platforms.

  • JustMarkets: MT4 & MT5 available for desktop, web, and mobile.

  • XM: MT4 & MT5, plus additional XM App for easier account management.

👉 Verdict: Both are strong in this category, but XM’s proprietary app adds convenience.

6. Deposit and Withdrawal Options in Indonesia

JustMarkets

One of the biggest strengths of JustMarkets in Indonesia is local payment support. Traders can deposit and withdraw using:

  • Local bank transfer (BCA, BNI, Mandiri, BRI)

  • E-wallets (OVO, DANA, GoPay)

  • Skrill, Neteller, Perfect Money

  • Cryptocurrency (BTC, ETH, USDT)

Processing time is usually instant.

XM Trading

XM also offers multiple methods, but Indonesian traders may find it slightly more limited compared to JustMarkets:

  • Local bank transfer (through payment agents)

  • Skrill, Neteller, Sticpay

  • Credit/Debit cards

  • Cryptocurrency (depending on region)

👉 Verdict: JustMarkets has stronger local integration in Indonesia, while XM is better for international payments.

7. Bonuses and Promotions

JustMarkets

  • Welcome Bonus: Up to $30 free credit for new traders

  • Deposit Bonus: Up to 120% bonus on deposits

  • Loyalty Rewards: Cashback and trading contests

XM Trading

  • No Deposit Bonus: $30 free for new accounts (popular among beginners)

  • Deposit Bonus: 50% up to $500 and 20% up to $5000

  • Seasonal Promotions: Regular trading contests and giveaways

👉 Verdict: Both brokers are competitive here. JustMarkets is more aggressive with loyalty rewards, while XM is famous for its global bonus structure.

8. Education and Research

JustMarkets

Provides basic educational materials, market analysis, and webinars, but not as extensive as XM.

XM Trading

XM excels in trader education, offering free daily webinars, in-depth articles, video tutorials, and even live events in Asia.

👉 Verdict: XM is stronger in education and research support.

9. Customer Support in Indonesia

  • JustMarkets: 24/7 multilingual support, live chat, email, localized service in Bahasa Indonesia.

  • XM Trading: 24/5 multilingual support, webinars in Bahasa Indonesia, regional events for traders.

👉 Verdict: Both provide localized support, but JustMarkets offers true 24/7 service.

10. Pros and Cons

JustMarkets Pros

✔ High leverage up to 1:3000
✔ Flexible account types
✔ Strong local deposit/withdrawal options in Indonesia
✔ Attractive bonuses and cashback

JustMarkets Cons

✘ Offshore regulation only
✘ Education resources less extensive

XM Trading Pros

✔ Strong global regulation
✔ Tight spreads and transparent pricing
✔ Excellent educational resources
✔ Reliable global brand with reputation

XM Trading Cons

✘ Leverage lower than JustMarkets
✘ Deposit/withdrawal less integrated with Indonesian banks

11. Which Broker is Better for Indonesian Traders?

  • Choose JustMarkets if:
    You are a beginner or intermediate trader who values high leverage, local bank deposits, and frequent bonuses.

  • Choose XM Trading if:
    You want a globally regulated broker with excellent education, stable spreads, and a trusted international brand.

12. Conclusion

Both JustMarkets and XM Trading Indonesia are strong choices for forex traders in 2025. The decision depends on your trading style:

  • If you prefer flexibility, bonuses, and localized payments, JustMarkets is the winner.

  • If you prioritize regulation, trust, and professional education, XM Trading is the safer choice.

Ultimately, many Indonesian traders choose to open accounts with both brokers to take advantage of their unique strengths.

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