Monex Investindo Futures Review
💲 Min Deposit $500
⌛ Year Established 2000
💼 Regulation
💡 Min Position 0.1 lot
🌐 Website www.mifx.com
🌎 Country
⚖ Max Leverage 1:100
Monex Investindo Futures is a well-established broker since 2000. Monex Investindo Futures has a headquarter in Indonesia. Monex Investindo Futures to provide their Forex/CFD trading services to over 4 million clients.
This broker has also been regulated by BAPPEBTI.
In addition to BAPPEBTI, Monex is also a member of the BBJ (Jakarta Futures Exchange) with no. SPAB-044/BBJ/03/02, ICDX (Indonesian Commodity and Derivatives Exchange) with no. No. 010/SPKB/ICDX/Dir/III/2010, as well as a member of KBI (Indonesian Futures Clearing House) no. 14/AK-KBI/III/2003 and ICH (Indonesia Clearing House) no. 003/SPKK/ISI-MIF/V/2010.
Established in 2000, Monex Investindo Futures is one of the largest forex brokers in Indonesia with branch offices throughout the country. As the biggest trading volume in Indonesia, Monex provides various trading instruments ranging from forex, indices, to commodity futures.
For providing trading services for more than 17 years, Monex has often won prestigious awards. In June 2016, the company received the ICDX Award of The Month as the Best Broker. Monex also won the third Best Broker title at the 2015 JFX Award.
Account Information
Apart from the forex demo account, this broker offers Mini and Standard. To successfully navigate your trading account, you also need to consider about leverage and minimum deposit. Talking about leverage in general, the maximum leverage offered by Monex Investindo Futures is up to 1: 100. Meanwhile, you can open an account with a starting capital of $500.
In Monex, clients can open 2 real account types:
- Mini: The minimum account deposit is $500 and the minimum trade size is 0.1 lot. Spreads are variable.
- Standard: The minimum deposit amount offered by Standard account is $4000 with a minimum 0.1 lot size. Spreads are variable.
Min Deposit
$500
Max Leverage
1:100
Spread
Variable
If you want to look for a more simple explanation regarding this broker's account type(s), take a look at the following chart:
💲 Min Deposit $500
💡 Min Position 0.1 lot
🔢 Spread Variable
📉 Scalping
🤖 Expert Advisors
Fees
Commission $1 applies to all forex products and commodities. Clients also do not need to pay swap fees due to the Free Swap program on all open overnight transactions up to the maximum accumulated total volume of 10 lots which apply per trade as a whole (not valid for part of the transaction ticket). As broker fees may vary and change, there may be additional fees that are not listed in this review.
Instruments Traded
Besides lots of currency pair, Monex Investindo Futures also offers some instruments you would like to trade on, such as Forex for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose.
Clients at Monex can expand their portfolio with trading instruments across a range of oil, silver, gold, forex, and indices markets. In fact, Monex is one of the most accomplished Indonesian forex brokers in terms of trading instruments.
As for Mini account, Monex Investindo Futures specifically provides it with the following instruments and leverage:
Forex
1:100
💲 Min Deposit $4000
💡 Min Position 0.1 lot
🔢 Spread Variable
📉 Scalping
🤖 Expert Advisors
Fees
Commission $1 applies to all forex products and commodities. Clients also do not need to pay swap fees due to the Free Swap program on all open overnight transactions up to the maximum accumulated total volume of 10 lots which apply per trade as a whole (not valid for part of the transaction ticket). As broker fees may vary and change, there may be additional fees that are not listed in this review.
Instruments Traded
Besides lots of currency pair, Monex Investindo Futures also offers some instruments you would like to trade on, such as Forex for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose.
Clients at Monex can expand their portfolio with trading instruments across a range of oil, silver, gold, forex, and indices markets. In fact, Monex is one of the most accomplished Indonesian forex brokers in terms of trading instruments.
As for Standard account, Monex Investindo Futures specifically provides it with the following instruments and leverage:
Forex
1:100
Trading Platforms
Trading platform is a tool where you can buy or trade an instrument with only some clicks on your device, anytime and anywhere you want. In addition, price chart is also usually provided with some analytical tools to help you analyze the price movement, so you can increase your profitabiliy by placing well-planned trades.
Hereby, Monex Investindo Futures offers you MT4.
- MT4: Metatrader 4 is an advanced trading platform that was launched in 2005 by MetaQuotes and is packed with several advanced functions that allow traders to trade without limits on various financial products. The MT4 platform is also available in desktop, web, and mobile versions.
- MIFX Mobile: MIFX Mobile is a mobile app developed by Monex specifically for highly mobile traders. By downloading MIFX Mobile on your smartphone, you don't have to stand by in front of a computer or laptop which isn't so easy to take with you on the go. Even though it looks simpler, the MIFX Mobile app is no less complete than the PC version of MetaTrader 4 or 5.
Unique Features
Monex has many features to enhance trading strategies:
- MIFX Market Updates: Allow you to get real-time trading signals and news about events that can trigger price movements.
- Autochartist: Third-party trading tool that helps you to analyze chart patterns and support and resistance levels for trading opportunities.
- Trading Central: Third-party trading tool that provides you with a comprehensive analysis of the potential direction of price movements to help you make trading decisions.
Research and Education
In an effort to ensure clients make the right trading decisions, Monex provides a variety of educational and research materials, such as trading articles, videos, FAQ sections, glossary of trading terms, blogs, and more.
- Courses: A collection of short and interesting videos that can help you understand the concepts, terms, and various trading strategies based on your level of experience.
- Event: Webinar or seminar by Monex which you can attend by contacting your contact person for registration.
- Ebook: A collection of forex e-books for novice traders containing basic important information.
- Blog: A collection of various trading strategies and tips for those of you looking for trading inspiration.
- Calculator: Calculator to calculate profit when trading forex.
Bonuses and Promotions
Currently, Monex has 2 promotions:
- MIFX Rewards Points: If you register as a live account customer of Standard type then you are entitled to earn MIFX Rewards points for every trades lot. These points can later be exchanged for various travel, lifestyle, gadget, and automotive prizes.
- FX Pro Account Rebate Promo: Up to $10 rebate promotion for every trades lot by depositing Rp250,000,000 or more. The rebate will be credited directly to your live account after the end of the month.
FAQ About Monex Investindo Futures
A good broker constitutes a good service for traders in terms of many criteria including trading instruments, deposits and withdrawals, as well as customer support. What is good for a certain trader does not necessarily mean the same thing to you. So the term "a good broker" can vary in meaning. You can decide for yourself if Monex Investindo Futures is a good broker for you or not by reviewing the criteria. In general, Monex Investindo Futures provides trading service in Forex . As for the payment methods, you can choose between . The customer support is available via .
The starting capital in Monex Investindo Futures is $500.
Monex Investindo Futures is regulated by BAPPEBTI. A regulated broker equals a more responsible trading environment. You can also expect a more guaranteed safety of funds as some of regulatory frameworks in the financial industry require a compensation scheme in case of unprecedented incidents that result in clients' financial losses.
Monex Investindo Futures is a brokerage company offering trading services for clients since 2000 with offices in Indonesia.
Since the company is also registered with BAPPEBTI, Monex Investindo Futures is legit for Indonesian traders
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