Founded in 2000, Monex Investindo Futures, MIFX for short, is an established retail broker that operates from Indonesia. They offer access to multiple financial instruments across different asset classes — forex, commodities, and indexes. They provide traders with an in-house-built trading platform that is available as a mobile app. Their clients benefit from competitive trading conditions, such as fast execution with no requotes and price delays, real-time trading signals, same-day withdrawal, and more. They provide traders with comprehensive educational resources and valuable trading tools. The minimum deposit required to operate an account is $500.
MIFX Review Introduction
In this MIFX review, we will take a look at some of the most important factors worth considering when choosing a forex broker for your online trading needs. This includes trading platforms, trading tools, research and education, account funding options, customer support, and broker regulation.
You may also wish to view my best forex brokers based on countless hours that I have spent researching and testing hundreds of brokers, all of which you can see in my forex broker reviews. You can also use my free trading tool to compare forex brokers, including MIFX.
MIFX Platforms & Tools
At MIFX, trading activities are conducted on the MT4 and an in-house-built trading platform. The MT4 is a popular trading platform that is replete with a plethora of advanced trading tools. The platform was launched in 2005 and has grown significantly to become the most preferred trading platform among forex and CFD traders. The broker makes the MT4 platform available as a desktop application for Windows and Mac computers, WebTrader, and a mobile app that is compatible with smartphone phone devices, running on Android and iOS. 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 opportunities. Its user-friendly interface allows you to seize opportunities from anywhere and at any time.
The broker’s proprietary trading platform is a fully customizable trading platform that is available as a mobile app. The platform allows users to trade various financial markets with ease. In addition, MIFX traders are provided with some standalone trading tools to ensure an enhanced trading experience. These trading tools include MIFX Market updates, AutoChartist, Trading Central, and more.
MIFX Research & Education
The following learning resources are available at MIFX: trading articles, videos, FAQ section, a glossary of trading terms, blogs, and more. These learning resources help traders to make knowledgeable trading decisions.
MIFX Trading Accounts
MIFX clients can choose the account type that suits their trading needs from either the Standard or Professional accounts. The account types require a minimum deposit of $500. Traders are provided with a demo account that comes loaded with virtual funds for practice purposes.
MIFX Account Funding
MIFX processes all traders’ deposit and withdrawal requests using any of the following payment methods: bank transfers, checks, and ACH.
MIFX Customer Service
MIFX provides traders with a customer support team that is knowledgeable and responsive. The support team can be contacted 24/5 through telephone, email, social media, and by filling the form provided on the website.
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
MIFX Review Summary
MIFX is an Indonesian brokerage firm that is regulated in multiple jurisdictions to allow clients to trade numerous financial markets with ease. They provide traders with the MT4 and a proprietary trading platform. There are various learning and trading tools to assist traders. The minimum deposit required to start trading is $500.
It is worth mentioning that some of the trading products and services in this MIFX review may differ or not be available to traders in some countries due to regulations. As brokers’ terms can change over time, please verify all information is up to date directly from the MIFX broker website, which you can visit by using the link below.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. As a result, a large percentage of retail investor accounts lose money when trading CFDs with this provider. It would help if you considered whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.