Indodax review

Indodax lists 448 coins, which places it well above the median of 74.5 coins across ranked exchanges. That is a broad book for a domestic venue, though traders chasing the longest lists abroad still have further to go, and coin counts move as listings change.

Indodax lists 448 coins. Bitpanda lists at least from 650 and bunq lists from 350, so the longest book in this group sits with Bitpanda, while the exchange median is 74.5. ActivTrades covers 9 coins, a different proposition for a few majors.

Indodax is licensed by Otoritas Jasa Keuangan (OJK) Financial Services Authority of Indonesia, the financial services authority of its home country. A named regulator matters when you are weighing a locally supervised exchange against an offshore venue with no supervisor, because a complaint has somewhere to go in Indonesia.

Yes, proof of reserves is published for Indodax, so readers can check that the coins credited to accounts are backed by holdings. Proof of reserves is uncommon in the exchange ranking, where the majority of venues do not publish it, so this sits well above the norm.

Taker fees for Indodax are not published in this comparison, so trade costs cannot be checked on paper. For reference, the median taker fee across ranked exchanges is 0.2%, with most sitting between 0.1% and 0.5%. Open the trading screen before placing a large order.

Indodax is a centralised exchange, so coins are held on the platform account rather than in a wallet you control. Most venues in the exchange ranking are centralised too, so the choice is not unusual, and the practical effect is that custody sits with PT Indodax Nasional Indonesia rather than with you.

Support runs through email, phone and help centre: email, phone, a help centre and a community channel. Live chat is not among those channels, so a stuck withdrawal or a login problem is handled by email or phone, and the help centre covers the routine questions on account setup and trading.

Indodax serves traders in Indonesia, where it is licensed by Otoritas Jasa Keuangan (OJK) Financial Services Authority of Indonesia and has operated since 2014. It is a single market venue, so users elsewhere would need a platform licensed where they live, such as Bitpanda or bunq, rather than an exchange registered abroad.