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.
MIFX Review, Pros & Cons
- Proprietary trading platform
- Educational resources
- Multiple financial instruments
- Trading Central
- Minimum $500 deposit
- Limited account funding methods
- No USA traders
In this detailed MIFX review, our online broker research team has covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
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.
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.
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.
Some MIFX features and products mentioned within this MIFX review may not be available to traders from certain countries because of legal restrictions.
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.
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 Trading 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.
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.
The broker offers the following trading instruments: forex, commodities, and indexes.
MIFX Accounts & Fees
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.
As broker fees can vary and change, there may be additional fees that are not listed in this MIFX review. It is imperative to ensure that you check and understand all of the latest information before you open a MIFX broker account for online trading.
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.
MIFX Deposit & Withdrawal
Traders can deposit and withdraw funds to and from their trading accounts using any of the following payment methods: bank transfers, checks, and ACH.
MIFX Account Opening
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.
It is imperative to ensure that when you are going through a broker application, you read all of the broker’s terms, conditions, and policies. Only proceed if you fully understand and agree with them.
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.
Futures are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these financial instruments work and whether you can afford to take the high risk of losing your money.