MIFX Broker Review for 2023

MIFX is a futures brokerage company that has been around for over 20 years. During this time, it has gained popularity among traders and has the largest transaction volume in Indonesia. MIFX is regulated by BAPPEBTI and you can trade currency pairs, CFDs and futures through a convenient mobile platform.

MIFX Broker

MIFX main features and highlights

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MIFX pros & cons

A trustworthy and regulated broker.The official web site is only available in one language.
Low spreads.High minimum deposit
Convenient MIFX trading platform24/5 customer support.
Rewards for every transaction

Regulated by

MIFX in Indonesia is licensed by BAPPEBTI (licence number 178/BAPPEBTI/SI/I/2003).

MIFX reliability & security

MIFX was established in 2000 and is regulated by BAPPEBTI, JFX and ICDX. This Forex broker company operates in accordance with all rules and offers competitive conditions for trading. MIFX has received numerous awards, including ICDX Best Broker Award 2016, JFX Best Broker Awards 2015 and ICDX Broker of The Year Award 2014.

MIFX account types

Ultra Low AccountStandard AccountPro AccountMultilateral Account
Commission $10 per lotCommission $1 per lotCommission $1 per lotCommission starting at $20
Leverage 1:400Leverage 1:100Leverage 1:100
Minimum deposit of IDR 500,000Minimum deposit of IDR 500,000Minimum deposit of IDR 250MMinimum deposit of IDR 1M
Free swapFree swapFree swapNo free swap
Spread starting from 0.2  pipsSpread starting from 1.8 pipsSpread starting from 1.8 pipsSpread starting from 0.6 pips

Deposit/withdrawal fees and options

Deposits can be made in MIFX via bank transfer in IDR or USD. Withdrawals are processed on the same day or the next day. There is no commission charged by HSB for deposits and withdrawals. However, the bank may charge a commission.

MIFX user experience

Opening a real account and its verification can take up to 24 hours, but otherwise the conditions do not differ from other brokers. The deposit of funds is credited instantly, and the withdrawal on the same day. Account management is convenient both on the website and in the mobile application. It is also possible to perform analysis and trade directly from the MIFX application.

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MIFX offers an average leverage of 1:100. The minimum deposit is significantly higher than other brokers. Low spreads start at 0.2 pips. The disadvantage is the customer support. It is available only on weekdays.

In conclusion

Ultimately, the advantages of MIFX outweigh the disadvantages. It is a reliable, licensed and convenient online Forex broker that provides quality services to traders in Indonesia.

Publication date: March 20, 2023

Frequently Asked Questions

Is MIFX legal in Indonesia?

Yes, MIFX is legal in Indonesia and is licensed by BAPPEBTI (licence number 178/BAPPEBTI/SI/I/2003).

What is the best MIFX account type?

A Standard account is the most popular and suitable for all purposes. An Ultra Low account has the lowest spreads. Pro and Multilateral accounts are for more experienced traders.

How long does it take to withdraw MIFX?

Withdrawals are processed on the same day or the next day.