English

MIFX Forex broker specializes in providing foreign exchange trading services, the company's official website https://mifx.com/ope..., the company's legitimate regulatory information IndonesiaBAPPEBTIRetail Forex License, IndonesiaJFXRetail Forex License, IndonesiaICDXRetail Forex License to enhance the security of the company's address Sahid Sudirman Center Lt. 17 Jl. Jenderal Sudirman Kav. 86 Jakarta Pusat, 10220

MIFX Forex Broker

Basic Information

Registered Region

Indonesia

Operating Period

Company Name

PT. Monex Investindo Futures

Abbreviation

MIFX

Company employee

Customer Service Email Address

support@mifx.com

Contact Number

+6202127889333

Company Website

http://www.mifx.com/

Company address

Sahid Sudirman Center Lt. 17 Jl. Jenderal Sudirman Kav. 86 Jakarta Pusat, 10220

Facebook

https://facebook.com/mifx.indonesia/

Keywords

5-10 years

Regulated in Indonesia

Retail Forex License

MT4 Full License

MT5 Full License

Self-developed

High potential risk

Company profile

Registered inIndonesiaRegulated byBAPPEBTI, ICDX, JFXYear(s) of establishment2-5 yearsTrading instrumentsCurrency pairs, indices, commodities, metals, energyMinimum Initial Deposit5,000,000 IDRMaximum Leverage1:100Minimum spread0.2 pips on the EUR/USDTrading platformMT4Deposit and withdrawal methodInformation not availableCustomer ServiceEmail/ phone number/ addressFraud Complaints ExposureYesMIFX Review Information Monex Investindo Futures (MIFX), established in 2000, is a leading Indonesian broker with over 30% market share in the foreign exchange sector. It is a member of the Jakarta Futures Exchange (JFX) and the Indonesia Commodity and Derivatives Exchange (ICDX), holding a retail forex license from BAPPEBTI (license number: 178/BAPPEBTI/SI/I/2003). MIFX offers leverage up to 1:100, spreads starting from 0.0 pips, and commissions ranging from $1 to $10 based on the account type. Traders can access the popular MetaTrader 4 (MT4) platform and a mobile app for convenient trading, with advanced features and tools for optimal market analysis and trade management.Is MIFX legit or a scam? Monex Investindo Futures (MIFX) is regulated by Indonesia's BAPPEBTI (license 178/BAPPEBTI/SI/I/2003), Jakarta Futures Exchange (license SPAB-044/BBJ/03/02), and Indonesia Commodity and Derivatives Exchange (license 010/SPKB/ICDX/Dir/III/2010) for retail forex trading.Regulatory AgencyCurrent StatusLicense TypeRegulated ByLicense No.Badan Pengawas Perdagangan Berjangka Komoditi Kementerian Perdagangan (BAPPEBTI)RegulatedRetail Forex LicenseIndonesia178/BAPPEBTI/SI/I/2003Jakarta Futures Exchange (JFX)RegulatedRetail Forex LicenseIndonesiaSPAB-044/BBJ/03/02Indonesia Commodity and Derivatives Exchange (ICDX)RegulatedRetail Forex LicenseIndonesia010/SPKB/ICDX/Dir/III/2010Pros and ConsProsConsRegulated by BAPPEBTI, JFX and ICDXAverage spreads on forex pairsMT4 trading platform supportedHigh minimum deposit requirement for accountsRange of trading accountsHigh trading feesDiverse educational resourcesNo 7/24 customer supportDemo accounts availableSwap-free options available for three types of accountsleverage up to 1:100Swap-free options available for three types of accountsMarket InstrumentsInstrumentAvailableFOREX✅GOLD✅SILVER✅OIL✅INDEX✅ Spreads and Commissions When it comes to forex pairs, the spreads offered by MIFX are generally average and may not be as competitive compared to the industry standard. It's important for traders to take note of this aspect when evaluating their trading options. Additionally, MIFX charges a commission of $10 per lot traded. It is worth highlighting that the spreads and commissions can vary depending on the chosen trading account. MIFX offers four distinct types of trading accounts, each characterized by its unique spread and commission structure. For instance, the first account type offers spreads starting from 0.2 pips, while the second and third account types feature spreads of 1.8 pips. The fourth account type stands out with tighter spreads of 0.6 pips. In terms of commissions, they range from $1 to $10, depending on the specific trading account.Account Types Demo Account: MIFX provides a demo account that allows you to try out the financial markets without the risk of losing money. The virtual funds will be 10,000 USD. MIFX offers a range of live trading accounts tailored to cater to the diverse needs of traders. Traders can choose from four different types of accounts: Ultra, Standard, Pro, and Multilateral.Account TypeULTRA LOWSTANDARDPROPRO REBATEMULTILATERALTransaction SizeStarting from 0.01 LotStarting from 0.01 LotStarting from 0.01 LotStarting from 0.01 LotStarting from 0.01 Lot**Minimum Initial DepositIDR 500 thousandIDR 500 thousandIDR 100 millionIDR 100 millionIDR 1 millionSpreadStarting from 0.3Starting from 1.8Starting from 0.3Starting from 1.8Starting from 0.6Commission/Lot$10$1$5$1Starting at $20Leverage1:1001:1001:1001:1001:100PlatformMT4/MT5MT4/MT5MT4/MT5MT4/MT5MT5MIFX ApplicationTrading, Deposit, Withdraw Funds, OverbookTrading, Deposit, Withdraw Funds, OverbookTrading, Deposit, Withdraw Funds, OverbookTrading, Deposit, Withdraw Funds, OverbookDeposit, Withdraw, OverbookFree SwapCan apply for Free Swap*Can apply for Free Swap*Can apply for Free Swap*Can apply for Free Swap*-Trading ToolsTrading Signal & Other ToolsTrading Signal & Other ToolsTrading Signal & Other ToolsTrading Signal & Other Tools-Education and NewsFull access to Education and NewsFull access to Education and NewsFull access to Education and NewsFull access to Education and NewsFull access to Education and NewsMIFX RewardsRewards Points with prizesRewards Points with prizes---Rebate---Up to $10 per lot settled-How to open an account?Visit the MIFX website: Go to the MIFX official website, which provides a user-friendly interface and access to all the necessary information. Click on “Open an Account”: Look for the “Open an Account” or “Sign Up” button on the website's homepage or designated account opening page. 2. Fill in the Application Form: Complete the online application form with accurate personal information, including your full name, contact details, and residential address. You may also be required to provide some identification documents for verification purposes. 3. Read and Accept the Terms and Conditions: Carefully review the terms and conditions provided by MIFX. Make sure you understand and agree to the terms before proceeding. 4. Submit the Application: Once you have filled in all the required details and agreed to the terms, submit your application electronically through the website. Take note of any confirmation or reference number provided. 5. Account Verification: MIFX may require you to complete a verification process to ensure the security of your account. This typically involves submitting identification documents such as a passport or driver's license, as well as proof of address. 6. Fund Your Account: After your account is successfully verified, you can proceed to fund your trading account. MIFX offers various deposit methods, such as bank transfers or electronic payment systems. Follow the instructions provided to deposit funds into your account. 7. Start Trading: Once your account is funded, you can access MIFX's trading platform using the provided login credentials. Take some time to familiarize yourself with the platform and explore the available trading tools and instruments.Trading Platforms MIFX offers traders access to the MetaTrader 5 (MT5) trading platform, renowned for its robust features and advanced capabilities. This platform, available for desktop and mobile devices, provides a comprehensive and user-friendly interface for traders to engage in the financial markets. The MT5 platform provided by MIFX caters to both novice and experienced traders, offering a wide range of analytical tools and indicators. With interactive charts, technical analysis capabilities, and customizable features, traders can conduct thorough market analysis and make well-informed trading decisions.Trading Tools MIFX offers a range of educational tools, including updated charting interfaces, real-time trading signals, and sentiment analysis, to help traders make informed decisions. Additional features like “Daily Top Mover” and “Top Volume” highlight profitable opportunities and market trends.Leverage offered by MIFX Although some brokers offer leverage up to 1:500 or even 1:1000, the leverage of 1:100 offered by MIFX is sufficient for the average trader. This is because the more leverage you have, the more risk you take with your money. Even professional traders, let alone novices, should not be tempted to use leverage as large as 1:500.Deposit and Withdrawal MIFX is ambiguous about how deposits and withdrawals work. Wire transfers, MasterCard, VISA, Maestro and some e-wallet processors such as Skrill, Neteller, PayPal and others are some of the most frequent and popular payment methods handled by most Forex brokers. The speed of withdrawing funds from a forex broker is also one of the most important factors in building a broker's reputation.Customer Support MIFX offers multiple support channels, including phone, email, online chat, and a contact form. Additionally, traders can engage with MIFX via social media platforms like Facebook, Twitter, YouTube, and Instagram for updates and assistance. MIFX offers a Help Center where clients can find various topics covering beginner's guides, account opening, trading education, trading tools, general trading, and special promotions. This resource provides self-assistance options, allowing clients to access informative articles and guides tailored to their needs and enhance their trading experience.

MIFX broker review

Is MIFX safe or scam

Rating Index

MULTILATERAL

Minimum Deposit

IDR 1 million

PRO REBATE

Minimum Deposit

IDR 100 million

How to login to MIFX?

MIFX Complete Account Guide: Registration, Account Opening, and Login Processes Part One: Account Registration Process How to Register a MIFX Account Registering for a MIFX account is the first step to accessing their trading platform. Follow these detailed steps to ensure a smooth registration proc

MIFX Forex Broker - Complete Information Guide

1. Broker Overview

　　MIFX, officially known as PT Monex Investindo Futures, was established in 2000 and is headquartered in Jakarta, Indonesia. As a private company, MIFX has grown to become one of the leading brokers in the Indonesian forex market, holding a significant share of over 30% of the forex trading volume in the country. The broker primarily serves retail clients, offering a range of trading services in forex, commodities, and stock indices.

　　Since its inception, MIFX has achieved several milestones, including becoming a member of the Jakarta Futures Exchange (JFX) and the Indonesian Commodity and Derivatives Exchange (ICDX). This membership enhances its credibility and provides clients with additional security and convenience. MIFX operates as a retail forex broker and is known for its straightforward approach to trading, focusing on providing a user-friendly platform for traders of all experience levels.

　　The business model of MIFX revolves around offering retail forex trading services, allowing clients to trade various financial instruments through its advanced trading platforms. The broker is committed to ensuring a seamless trading experience by providing competitive spreads, diverse account types, and comprehensive educational resources.

2. Regulation and Compliance Information

　　MIFX operates under the regulation of the Badan Pengawas Perdagangan Berjangka Komoditi (BAPPEBTI), which is the Indonesian Commodity Futures Trading Regulatory Agency. The broker holds a retail forex license from BAPPEBTI with the license number 178/BAPPEBTI/SI/I/2003. This regulatory framework ensures that MIFX adheres to established industry standards and protects the interests of traders.

　　In addition to BAPPEBTI, MIFX is also a member of the JFX and ICDX, which further solidifies its regulatory standing. The broker's compliance with local regulations includes maintaining client funds in segregated accounts, separate from the company's operating accounts, to ensure their safety. MIFX also provides insurance coverage for client funds up to RP 500 million per account in the event of bankruptcy or liquidation.

　　MIFX adheres to Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, ensuring that it conducts thorough background checks on clients to prevent fraudulent activities. This commitment to compliance underscores MIFX's dedication to providing a secure trading environment.

3. Trading Products and Services

　　MIFX offers a diverse range of trading products, primarily focusing on forex trading. The broker provides access to over 40 currency pairs, including major, minor, and exotic pairs. Notable currency pairs available for trading include EUR/USD, GBP/USD, and USD/JPY.

　　In addition to forex, MIFX also offers Contracts for Difference (CFDs) on various instruments, including indices, commodities, and precious metals. Traders can speculate on the price movements of commodities such as gold, silver, crude oil, and agricultural products like coffee and sugar. The broker provides access to indices CFDs, allowing clients to trade popular indices like the US30, SPX500, and UK100.

　　MIFX is committed to regularly updating its product offerings, ensuring that traders have access to the latest market opportunities. The broker also provides retail trading services, catering to individual traders, while it is not explicitly stated if MIFX offers institutional services or white-label solutions.

4. Trading Platforms and Technology

　　MIFX supports the widely used MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms, providing clients with robust trading tools and features. The MT4 platform is customized to suit the needs of MIFX traders, offering advanced charting capabilities, multiple order types, and a wide range of technical indicators.

　　In addition to MT4, MIFX also offers a proprietary mobile trading platform, allowing traders to manage their accounts and execute trades on the go. The mobile application is available for both iOS and Android devices, ensuring that traders can access their accounts anytime, anywhere.

　　The broker operates on a Straight Through Processing (STP) execution model, which minimizes latency and ensures fast trade execution. MIFX's servers are strategically located to enhance trading performance, although specific details about server locations are not disclosed.

　　MIFX also supports API access and automated trading, allowing traders to implement algorithmic strategies and enhance their trading experience through technology.

5. Account Types and Trading Conditions

　　MIFX offers a variety of live trading accounts tailored to meet the diverse needs of traders. The available account types include:

　　Ultra Account: Requires a minimum deposit of IDR 500,000 with spreads starting from 0.2 pips and a commission fee of $10 per lot. This account offers a free-swap feature.
　　Standard Account: Also requires a minimum deposit of IDR 500,000, with slightly wider spreads starting from 1.8 pips and a lower commission fee of $1 per lot. A free-swap option is available.
　　Pro Account: Designed for experienced traders, this account requires a minimum deposit of IDR 2,500,000,000 with spreads starting from 1.8 pips and a commission of $1 per lot. Free-swap options are available.
　　Multilateral Account: Requires a minimum deposit of IDR 1,000,000 with spreads starting from 0.6 pips. However, this account has a higher commission fee of $20 per lot, and the free-swap option is not available.

　　MIFX provides leverage of up to 1:100, which is suitable for most traders, while the minimum trade size is 0.01 lots. The broker's policy on overnight fees is not explicitly stated, but traders should be aware of the potential costs associated with holding positions overnight.

6. Fund Management

　　MIFX supports several deposit methods for funding trading accounts, including:

　　Bank Transfers: This is the most common method, with a minimum deposit requirement of IDR 500,000. Deposits via bank transfer are typically processed within 3 business days without any charges.
　　Credit/Debit Cards: MIFX accepts Visa and Mastercard for deposits, with a minimum deposit of IDR 500,000 and a processing fee of 2%. Withdrawals via credit/debit cards require a minimum of IDR 100,000,000.
　　E-Wallets: MIFX supports e-wallets like Skrill, Neteller, and PayPal, with a minimum deposit of IDR 500,000. Withdrawals may vary based on the e-wallet provider, and a 1% fee applies to deposits and withdrawals.

　　Withdrawal processing times vary by method, with bank transfers taking up to 3 business days and e-wallet transactions typically processed within 24 hours.

7. Customer Support and Educational Resources

　　MIFX provides multiple channels for customer support, including:

Phone: Clients can reach out via dedicated phone lines for real-time assistance.
Email: Support is available through email for inquiries and issues.
Online Chat: An online chat feature is available on the MIFX website for quick responses.
Social Media: MIFX maintains an active presence on platforms like Facebook, Twitter, and Instagram for updates and support.

　　The broker offers support primarily in English, and customer service is available during business hours. However, it does not provide 24/7 support.

　　MIFX emphasizes education, providing a range of resources such as webinars, tutorials, and e-books to help traders enhance their knowledge and skills. Market analysis services, including daily reports and research, are also available to keep traders informed.

8. Regional Coverage and Restrictions

　　MIFX primarily serves clients in Indonesia and does not explicitly state its regional office distributions. However, the broker may have limitations on accepting clients from certain countries, although specific regions are not disclosed in the available information.

　　Traders should ensure they comply with local regulations and check if MIFX is available in their jurisdiction before opening an account. The broker's commitment to providing a secure and regulated trading environment is evident through its adherence to local laws and regulations.

　　In conclusion, MIFX is a well-established forex broker that offers a comprehensive range of trading products and services. With its regulatory compliance, diverse account types, and commitment to education, MIFX aims to provide a reliable trading experience for both novice and experienced traders.

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