Indodax Review 2025

Indodax was founded by Oscar Darmawan and William Sutanto. The platform is ISO 9001 and ISO 27001 certified.

Fees for USDT markets are Buy Maker 0.2948%, Buy Taker 0.3248%, Sell Maker 0.2948%, and Sell Taker 0.3248%.

The minimum deposit requirement is IDR 10,000. Indodax exchange offers 10% of referred clients’ trading fees (only for the first 3 months) to its affiliates.

Indodax; Largest Crypto Exchange in Indonesia

Indodax, formerly known as Bitcoin Indonesia or Bitcoin.co.id, was founded in 2014.

The platform has over 7.2M members and supports 200+ digital assets. Key features of Indodax:

• Licensed by BAPPEBTI
• ISO certified: ISO 9001 and 27001
• Founded by Oscar Darmawan and William Sutanto
• 10M monthly visitors

Indodax currently supports over 400 cryptocurrencies across IDR spot markets. This includes major assets like Bitcoin and Ethereum, as well as an expanding list of altcoins, meme tokens, and NFT-related assets. 

Indodax Specific Features

PT Indodax Nasional Indonesia is the country’s largest Crypto Exchange, enabling users to buy, sell, and trade over 200 cryptocurrencies.

Pros and Cons

When considering Indodax as your crypto exchange of choice, weighing its advantages and disadvantages is essential.

Indodax Exchange User Levels

While the platform doesn’t offer a comprehensive user level system with fee discounts, it has implemented a two-tier membership program: Regular and Priority.

VIP service and an exclusive badge on the user’s profile are the advantages of becoming a priority member, which requires one of the following conditions:

• A trade volume of IDR 7B per month
• Total asset balance of IDR 500M

Indodax accounts are split into two modes within its mobile app:

• Lite Mode: For beginner traders, includes simplified interfaces and recurring buys
• Pro Mode: Advanced charting, stop-limit orders, and full-featured trading tools

Indodax Fees Explained

In this Indodax review, we must mention that starting January 1, 2025, there is an adjustment of costs in the IDR market (0.12%) & USDT market (0.22%) due to the 12% increase in VAT (Value Added Tax).

Indodax costs include a trading fee, tax, and CFX fee. The sum is gathered in an All-in-Fee, as below:

Supported Digital Assets on Indodax

The platform has listed more than 200 digital assets for OTC and Spot trading in two markets: USDT and IDR. Some of the most popular cryptocurrencies available on Indodax:

• BTC
• PEPE
• ETH
• SHIB
• BONK
• LUNC
• SOL
• DOGE
• UNIX

Leveraged Trading on Indodax Exchange

As of 2024, Indodax does not offer leveraged trading or margin trading features. The exchange focuses solely on spot market trading, where users can buy and sell digital assets using their own capital.

Sign Up and Verification

To register and start trading with the platform, you must be at least 17 years old or married. We’ll go through the steps in this Indodax review:

#1 Visit the Indodax Official Website

Start by navigating to the official website of the crypto exchange. Once on the homepage, click the “Register” button to begin setting up your new account. Choose the “Create Account” option to proceed to the user onboarding form.

#2 Complete the Indodax Registration Form

Enter your basic personal details, such as your name, email address, password, and phone number.

#3 Verify Email and Phone Number on Indodax

Check your inbox and phone for verification codes. Confirm both your email address and mobile number to activate your account.

#4 Complete Face Detection in Indodax

Use your device’s camera to undergo real-time face detection, a standard part of KYC to confirm your identity.

#5 Upload Required Documents on Indodax Website

Submit the following verification documents to complete your KYC process:

• e-KTP for Indonesian citizens
• Passport for international users
• Recent utility bill or bank statement showing your name and address

Indodax Trading Platform

The exchange offers a proprietary Web Trader and a dedicated mobile application integrated with TradingView charts. Indodax application download links:

• Android
• iOS

To access additional analytical tools, you can visit TradingFinder’s list of TradingView indicators.

Indodax Security & Safety

The exchange prioritizes the security of its users' funds and data, implementing various measures to protect against cyber threats. However, in 2024, Indodax was hacked, according to CoinTelegraph:

• Major hack in 2024 resulted in a loss of $22 million;
• Attacks on the platform’s hot wallets containing Bitcoin, Ethereum, TRX, MATIC, and other cryptocurrencies;
• The Indodax web platform and the mobile application went offline during the maintenance procedure.

Despite the incident, we can say in this Indodax review that the platform implements decent security measures to protect users’ funds, including:

• Two Factor Authentication (2FA)
• Cold storage
• Biometric authentication

Supported Payment Methods

Indodax exchange allows Crypto and Fiat (Indonesian Rupiah) deposits and withdrawals.

While IDR withdrawals can only be made through bank transfers, users have a wide selection of methods to charge their accounts, including:

• Bank transfers
• E-wallets: OVO
• Virtual accounts: Mandiri and BRI
• QRIS (QR code-based payments)

User Satisfaction

Despite being the largest crypto exchange in Indonesia, the platform has garnered mixed user reviews.

While 48% of comments on the Indodax TrustPilot profile are positive (4-star and 5-star), 46% are negative (1-star and 2-star).

Indodax Features

Let's check if there are any advanced features on the exchange; Indodax Features:

Customer Support

Indodax boasts 24/7 support through various channels, including a call center and an online chat feature.

Does Indodax Offer Copy Trading or Investment Plans?

The exchange does not offer copy trading or social trading features. However, it provides a comprehensive Earn program dedicated to staking cryptocurrencies. Key features of Indodax Earn:

• Over IDR 467B total staking
• More than IDR 28B in interests
• 71,971 participants

A list of available coins in the platform’s staking service with their annual percentage yields:

Restricted Jurisdictions on Indodax Exchange

The platform's General Terms and Conditions (GTC) outline specific restrictions on user eligibility. Indodax does not accept users who are citizens of:

• United States
• Myanmar
• Cote D'Ivoire
• Cuba
• Iran
• Syrian Arab Republic
• Belarus
• Congo
• Democratic Republic of Congo
• Iraq
• Liberia
• Sudan
• Zimbabwe
• North Korea

Indodax Comparison Table

Let's compare Indodax services and features with its competitors; Indodax Comparison:

Writer's opinion and conclusion

Indodax provides access to 200+ digital assets in USDT and IDR markets without leverage options. The platform supports IDR deposits through OVO, Mandiri, and BRI.

Despite implementing various security factors, such as Biometric Authentication, the Indodax exchange was hacked in 2024 and has a poor TrustPilot score of 2.3.