Retail brokerage group Plus500 has entered the Indonesian market after acquiring a firm in the Southeast Asian country.
The London-listed firm appears to have bought out Global Intra Berjangka, a local futures brokerage that stopped doing business in 2023.
Plus500’s local entity is now listed as being regulated by the Commodity Futures Trading Regulatory Agency (Bappebti) in the country. The broker can offer derivatives trading and has approval to operate an alternative trading system.
On top of that, the firm has approvals from the Financial Services Authority of Indonesia and the Bank of Indonesia.
The broker is also a member of the Indonesia Commodity and Derivatives Exchange (ICDX), the Jakarta Futures Exchange and as a broker member of the Indonesia Clearing House.
Plus500 is targeting the market via a local URL and seems to have started advertising in the country in November.
The move appears to be part of Plus500’s plans to expand more aggressively. The company has taken steps to expand in the US, Chile, Colombia, and India in the last few years, either by getting a local license directly or acquiring a local player.
Rival broker Robinhood also announced that it was entering the Indonesian market in December, by acquiring a local broker and a separate crypto firm.
Polish firm XTB acquired a local firm in 2024 but only appears to have properly launched in the country at the end of this October.
