Pricing Structure
For Market Makers and Limit Orders:
- Buy Transactions: 0.21% fee
- Sell Transactions: 0.20% fee
For Market Takers and Instant Transactions:
- Buy Transactions: 0.31% fee
- Sell Transactions: 0.30% fee
For USDT Market:
- Market Makers: 0.24% fee for both Buy and Sell
- Market Takers: 0.27% fee for both Buy and Sell
- Minimum Transaction Amount: 1 USDT
Trading Platforms Available
- Mobile App
- Website
Evaluation Methods
- No Evaluation Required
Customer Support Channels
- Phone Customer Support
- 24/7 Call Center
- Email Support
Pros
- Indonesia’s largest and longest-running crypto exchange, operating since 2014
- ISO 27001 certified with an active bug bounty program
- User-friendly trading terminal interface
- Reduced commissions for market maker transactions
- Educational resources for beginners via Indodax Akademi
Cons
- Suffered a security breach in September 2024 with reported losses of $22-25 million; Indodax halted withdrawals, pledged to reimburse affected users, and involved law enforcement, though full resolution details remain limited
- Holds a low 2.3/5 rating on Trustpilot, with common complaints about outdated transaction history tools and slow support on fund-related issues
- Not licensed by an international financial regulator, though it operates under Indonesia’s KEMKOMDIGI, CFX, and BAPPEBTI frameworks
- Only supports Indonesian Rupiah (IDR) among fiat currencies
In-Depth Look at Indodax
Are you seeking a reliable and user-friendly cryptocurrency exchange? Indodax, Indonesia’s largest crypto exchange, provides a seamless experience for both novice and experienced traders. This review covers the key aspects of Indodax, including its pricing, platform features, and customer support.
Introduction to Indodax
Indodax, formerly known as Bitcoin Indonesia, was founded in 2014 by CEO Oscar Dharmawan. The exchange rebranded to Indodax in 2018 and has grown to over five million registered members as of February 2022. Indodax allows deposits in Indonesian Rupiah (IDR) and offers immediate withdrawals, making it highly popular among Indonesian users.
Who Should Use Indodax?
Indodax is ideal for both beginner traders who want to start learning about cryptocurrencies and experienced traders looking to enhance their skills. The platform’s user-friendly interface and comprehensive educational resources make it accessible to all levels of traders.
Indodax Platform & Features
Buy and Sell Bitcoin
Indodax was the first Indonesian exchange to offer instant Bitcoin buying and selling. Users can view their balance in both Bitcoin and IDR, making transactions straightforward.
Marketplace
The marketplace section displays various crypto assets with their prices in IDR, trading volume, and daily price changes. Users can navigate through different market sections such as IDR Market, USDT Market, Derivatives, StableCoins, and DeFi.
Indodax OTC
Indodax OTC (Over-the-Counter) provides a secure and personalized service for high-liquidity transactions. It caters to large trades, ensuring seamless execution with enhanced security and privacy protocols.
Indodax Academy
Indodax Academy offers educational resources for learning about cryptocurrencies. It covers topics from basic to advanced levels, helping users understand Bitcoin, blockchain technology, and various crypto assets. This makes it an excellent resource for both beginners and experienced traders.
Indodax Pricing
Indodax offers a competitive fee structure with significant reductions for taker transactions:
- Market Makers: 0.21% (Buy), 0.20% (Sell)
- Market Takers: 0.31% (Buy), 0.30% (Sell)
- USDT Market Makers: 0.24% for both Buy and Sell
- USDT Market Takers: 0.27% for both Buy and Sell
The minimum transaction amount is set at Rp10,000 for IDR transactions and 1 USDT for USDT transactions. This fee arrangement, combined with reduced fees for taker transactions, provides an advantageous proposition for traders.
How to Open an Account?
Creating an account on Indodax is simple:
- Submit your username, email, password, and contact information.
- Complete the required KYC (Know Your Customer) verification process.
- Enter the verification code sent to your email.
- After registering, access your account and authenticate it via the sidebar menu.
Trust & Reputation
Indodax is Indonesia’s largest and longest-running crypto exchange, and holds ISO 27001 certification with an active bug bounty program. Its recent trust record, however, is genuinely mixed. In September 2024, Indodax suffered a security breach with reported losses between $22 million and $25 million; the exchange responded by halting withdrawals from the affected wallet, pledging to reimburse impacted users, and coordinating with Indonesian law enforcement, though detailed public reporting on the full resolution remains limited. Separately, Indodax holds a low 2.3 out of 5 rating on Trustpilot, with recurring complaints about outdated account tools and slow support response during fund-related disputes. Indodax is not licensed by an international financial regulator, though it operates within Indonesia’s KEMKOMDIGI, CFX, and BAPPEBTI frameworks. Given the exchange’s scale and the 2024 breach, traders should use strong account security (2FA) and avoid holding more than necessary on any exchange, Indodax included.
Final Thoughts
Indodax remains Indonesia’s largest and most established crypto exchange, with a straightforward platform, real security certifications on paper, and strong local liquidity. That scale doesn’t erase its mixed recent track record, though — the 2024 breach and a low Trustpilot rating are real factors to weigh, not footnotes. It’s a reasonable choice for Indonesian traders who prioritize IDR support and platform maturity, provided you go in with clear eyes about its security history and take standard precautions with your funds.
Indodax Review Overall
Indodax is Indonesia's largest and longest-running crypto exchange, with ISO 27001 certification and an active bug bounty program. But its recent trust record is genuinely mixed: a September 2024 security breach with $22-25 million in reported losses, and a low 2.3/5 Trustpilot rating driven by complaints about outdated tools and slow support on fund issues. It's a reasonable choice for IDR-based trading given its scale, but traders should weigh the security history honestly rather than assume size equals safety.
Pros
- Indonesia's largest and longest-running crypto exchange, operating since 2014
- ISO 27001 certified with an active bug bounty program
- User-friendly trading terminal interface
- Reduced commissions for market maker transactions
- Educational resources for beginners via Indodax Akademi
Cons
- Suffered a $22-25 million security breach in September 2024
- Low 2.3/5 rating on Trustpilot, with complaints about outdated tools and slow fund-issue support
- Not licensed by an international financial regulator
- Only supports Indonesian Rupiah (IDR) among fiat currencies
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