MIFX Review
Rana Adnan | March 25, 2022
Table of Contents
Monex Investindo Futures, MIFX for short, is the largest official broker in Indonesia under the supervision of BAPPEBTI. They allow clients to trade multiple financial instruments across different asset classes — forex, commodities, and indexes — through an in-house developed trading platform that is available as a mobile app. Traders benefit from fast execution with no requotes and price delays, real-time trading signals, same-day withdrawal, and comprehensive education. The minimum deposit required to operate an account is $500.
Broker Pros / Cons
- Proprietary trading platform
- Educational resources
- Multiple financial instruments
- Autochartist
- Trading Central
- Minimum $500 deposit
- Limited account funding methods
- No USA traders
Summary
Established in 2000, MIFX is an award-winning trading platform that allows traders to trade multiple financial instruments using a proprietary trading platform. Traders are provided with a range of useful trading tools and educational resources.
MIFX Broker Features & Overview
Over the years, the broker has bagged several industry awards, including Investor Awards (2011, 2012, 2013, 2014, and 2015), JFX Awards 2015, Best Broker June 2016, and more.
MIFX Awards & Recognitions
Regulation
Monex Investindo Futures operates under license and is under the supervision of BAPPEBTI, a member of the BBJ and ICDX exchanges and a member of the futures clearing of the KBI & Indonesia Clearing House. The broker is regulated in several jurisdictions as follows:
- Commodity Futures Trading Supervisory Agency: 178 / BAPPEBTI / SI / I / 2003
- Jakarta Futures Exchange: No. SPAB-044 / BBJ / 03/02
- Indonesian Commodity and Derivatives Exchange: No. 010 / SPKB / ICDX / Dir / III / 2010
- Indonesian Derivatives Clearing: No. 14 / AK-KBI / III / 2003
- Indonesia Clearing House: 003 / SPKK / ICH-MIF / VII / 2017
The broker offers its services to clients from Indonesia, but traders from other parts of the world where the use of such services would not be contrary to local laws and regulations can also access their services.
Platforms
MetaTrader 4
The broker provides traders with the MetaTrader 4 trading platform, an advanced trading platform that was launched in 2005 by MetaQuotes. It is packed with several advanced functionalities and allows for seamless trading of the available financial products. The MT4 platform is available in desktop, web, and mobile versions.
MIFX Platform
There is also the MIFX trading platform, a proprietary trading platform that is developed to enable clients to trade the various available financial instruments with ease. It features trading signals to ensure you do not miss any trading opportunity. Its user-friendly interface allows you to seize opportunities from anywhere and at any time.
The MIFX trading platform is also fully customisable; hence you can easily change the account settings or withdraw and deposit trading funds. It is available as a mobile app that is designed for mobile devices running on Android and iOS. The mobile trading app can be downloaded from the relevant app stores and used to place trades while on the go with an internet connection.
MIFX Platforms
Tools
Apart from the tools built into the proprietary trading platform, traders also benefit from some standalone trading to help them get the best out of their trades. These include:
- MIFX Market Updates — These allow you to get real-time trading signals and news about events that can trigger price movements.
- Autochartist — This is a third-party trading tool that helps you to analyse chart patterns and support and resistance levels for trading opportunities.
- Trading Central — The Trading central is a third-party trading tool that provides you with a comprehensive analysis of the potential direction of price movements to help you make trading decisions.
Education
In a bid to ensure that traders make informed trading decisions, the broker provides them with various learning materials, such as trading articles, videos, FAQ section, a glossary of trading terms, blogs, and more.
MIFX Video Tutorials
Markets
The broker offers the following trading instruments: forex, commodities, and indexes.
Accounts
The broker offers a choice of two live trading account options, namely: Standard and Professional accounts with a minimum deposit from $500. There is also a demo account for practice purposes.
Support
The broker’s client support team is available 24/5 to respond to clients’ trading inquiries via the following contact channels: telephone, email, social media, and by filling the form provided on the website.
Funding
Traders can deposit and withdraw funds to and from their trading accounts using any of the following payment methods: bank transfers, checks, and ACH.
Signup
To open an account, click the Open Live Account button on the Client Area menu and fill in the customer acceptance form. After the form is completed, the broker’s team will verify your data so you can begin trading.
Compare
| Broker Features | AvaTrade | IG | IC Markets | |
|---|---|---|---|---|
| Founded | 2006 | 1974 | 2007 | |
| Regulated | ASIC, BVI, CBI, FFAJ, JFSA, FSCA, IIROC, ADGM FRSA | FCA, CFTC, NFA, BaFin, FINMA, ASIC, FMA, MAS, FSA, FSCA, DFSA, JFSA, METI, MAFF | ASIC, CySEC, FSA, SCB | |
| Country | Australia, Ireland, South Africa, Japan, British Virgin Islands | Australia, UK, USA, Switzerland, UAE, Singapore, Japan | Australia, Seychelles, Bahamas, Cyprus | |
| Min. Deposit | Min $250 Deposit | Min $100 Deposit | Min $200 Deposit | |
| Commission | From $0 | From $0 | From $0 | |
| Spreads | Fixed | Variable | Variable | |
| Leverage | 1:400 | 1:200 | 1:500 | |
| Instruments | Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Options, Bonds, CFDs, ETFs | Forex, Commodities, Stocks, Shares, Indices, Cryptocurrencies, Metals, Energies, Options, Bonds, ETFs, CFDs | Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Bonds, CFDs | |
| Platforms | MetaTrader 4, MetaTrader 5, AvaTradeGO, AvaOptions, AvaSocial, DupliTrade, ZuluTrade, Web, Mobile | MetaTrader 4, IG Platform, IG Progressive Web App, ProRealTime (PRT), L2 Dealer, FIX API, Web, Mobile | MetaTrader 4, MetaTrader 5, cTrader, Web, Mobile | |
| Type | Market Maker, STP | STP, ECN, DMA | ECN | |
| Funding | Wire Transfer, Credit/Debit Card, Paypal, WebMoney, Neteller, Skrill | Wire Transfer, Credit/Debit Cards, PayPal | Wire Transfer, Credit Card, Debit Card, WebMoney, Neteller, PayPal, Skrill, FasaPay, UnionPay, Qiwi, Bpay, Poli | |
| Visit Broker | Visit Broker | Visit Broker | Visit Broker |
Conclusion
MIFX is an award-winning brokerage firm that is based in Jakarta, Indonesia. They allow traders to trade various financial instruments using different trading platforms that are available in the desktop, web, and mobile versions. Traders are provided with educational resources, trading tools, and a responsive client support team.
Min $500 Deposit
MIFX is an online brokerage firm that is based in Jakarta, Indonesia. They allow traders to trade various financial instruments using different trading platforms that are available for desktop, web & mobile.
About the Author
Rana Adnan
I am an introverted long-distance runner and a Forex trader with more than 7 years of experience. Reminiscences of a stock operator was the first book that changed the whole concept of trading for me.
Review Methodology
For all of our broker reviews, we research, validate, analyse and compare what we deem to be the most important factors to consider when choosing a broker. This includes pros, cons and an overall rating based on our findings. We aim to help you find the best broker according to your own needs. You can read more about our review process.
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