General Information & Regulation
Established in 2000, Monex Investindo Futures (MIFX) is a broker in Indonesia, with over 30% of it sits the foreign exchange market. MIFX is a member of the Jakarta Futures Exchange (JFX) and the Indonesia Commodity and Derivatives Exchange (ICDX) and holds a retail foreign exchange license from the Indonesian Commodity Futures Trading Regulatory Agency (license number: 178/ BAPPEBTI/SI/I/2003).
Market Instruments
MIFX provides investors with access to currency pairs, CFDs, and futures in the Forex markets. Compared to other brokers, investors can trade fewer financial assets on the MIFX platform.
Minimum Deposit
MIFX provides investors with two different accounts, namely mini accounts (minimum deposit of $500) and standard accounts (minimum deposit of $4,000).
Leverage
In terms of trading leverage, maximum trading leverage offered by MIFX is up to 1:100, which is average. Leverage allows traders to score big profits with low deposits, however higher leverage levels involve greater risk of loss, which may exceed initial investments.
Spreads & Commissions
The EURUSD spreads on the MIFX platform look very attractive at just 0.2 pips. Most brokers offer EURUSD spreads of between 1.1 pips and 1.5 pips.
Trading Platforms
MIFX supports the most widely used Forex trading platform - MetaTrader 4 (MT4), which combines ease of use with a full set of professional tools, such as an advanced charting package, multiple order types, a wide range of technical analysis indicators, and Expert Advisors (EA), as well as a large number of backtesting options. In addition, MIX clients have access to Autochartist, a tool that scans, analyzes, calculates, and delivers real-time trading signals, identifies specific chart patterns, sends market updates, and more.
Deposit and withdrawal
MIFX only supports traders to deposit and withdraw funds to their accounts via wire transfer, and the accepted currencies are IDR or USD.
Customer Support
MIFX'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.
