IG vs MIFX Forex Broker Comparison
A head-to-head comparison of IG and MIFX across regulation, trading costs, platforms, and editorial scoring.
IG invented spread betting in 1974 and remains the benchmark for experienced UK and European traders: unmatched market breadth, a genuinely excellent proprietary platform, and regulatory credibility that few brokers can match - at the cost of slightly higher charges than specialist ECN desks.
VS
One of Indonesia's longest-standing domestically-regulated brokers, holding both BAPPEBTI and OJK licences - the benchmark for local regulatory compliance.
Our Verdict
IG winsClear Winner
IG comes out ahead with an editorial score of 4.8/5 compared to MIFX's 3.8/5.
IG
4.8/5
MIFX
3.8/5
Verdict by Trader Profile
Which broker wins for each type of trader, based on costs, safety, platforms, and editorial scoring.
Best for low cost trading
Recommended
IG offers tighter spreads from 0.6 pips vs 1.5 pips for MIFX, reducing trading costs.
Best for safety & regulation
Recommended
IG has a stronger safety profile: top-tier regulation, compensation scheme, segregated funds, negative balance protection.
Best for active traders
It's a tie
Both equally suited
Both brokers offer equivalent trading costs across spreads, commissions, and account types.
Best for platform choice
Recommended
IG offers more exclusive platform options: TradingView, a proprietary platform.
Best for beginners
Recommended
IG edges out MIFX with a higher editorial score (4.8/5 vs 3.8/5), indicating a stronger overall experience for new traders.
IG vs MIFX: Side-by-Side Forex Broker Comparison
Score
= highlighted score shows which broker leads in that category| Editorial score | 4.8/ 5 | 3.8/ 5 |
|---|---|---|
| Score Breakdown | ||
Trust & Regulation 40% weight | 5.0 / 5▲ | 3.7 / 5 |
Fees & Spreads 30% weight | 4.8 / 5▲ | 3.9 / 5 |
Platforms & Tools 20% weight | 5.0 / 5▲ | 3.8 / 5 |
Customer Support 10% weight | 4.5 / 5▲ | 3.9 / 5 |
| Founded | 1974 | 2003 |
| Headquarters | London, United Kingdom | Jakarta, Indonesia |
| Min deposit | No minimum | $30 |
| Spreads from | 0.6 pips | 1.5 pips |
| Commission / lot | N/A | N/A |
| Max leverage | 30:1 | 100:1 |
| Withdrawal fee | Free | Free |
| Regulators | FCA ASIC DFSA CMVM BaFin Finansinspektionen Finanstilsynet FMA CBI KNF Finanstilsynet | BAPPEBTI OJK |
| Platforms | MetaTrader 4 Proprietary Web/Mobile TradingView | MetaTrader 4 Proprietary Web/Mobile |
| Active bonuses | ||
| Visit broker | Visit IG | Visit MIFX |
IG vs MIFX Forex Broker Pros & Cons
Pros
LSE-listed with FCA and ASIC regulation - among the most credible regulatory stacks in retail CFDs
19,000+ markets including weekend crypto, volatility indices, and EM pairs - genuine breadth, not a padded count
Proprietary platform with ProRealTime charts, Reuters news, and DMA equity routing built in
Spread betting available for UK clients - tax-free gains on the same account used for CFD trading
No minimum deposit and no deposit or withdrawal fee on standard methods
Client funds held in segregated accounts
Negative balance protection
Investor compensation scheme coverage
No deposit fees
MetaTrader 4 and MetaTrader 5 supported
Advanced charting tools included
Transparent pricing with clear cost disclosure
24/5 live chat support
Phone support available
Multilingual customer support
Pros
Over 20 years of operation as an Indonesian-licensed broker
Holds both BAPPEBTI and OJK licences - full domestic regulatory compliance
Supports local Indonesian bank transfers for deposits and withdrawals
IDR account denomination avoids currency conversion costs
Client funds held in segregated accounts
Raw spread account available
No deposit fees
No inactivity fee
MetaTrader 4 and MetaTrader 5 supported
Mobile trading app available
Proprietary trading platform available
Transparent pricing with clear cost disclosure
24/5 live chat support
Phone support available
Cons
Market maker on forex - not suitable for scalpers who need sub-0.1 pip raw ECN spreads
Inactivity fee of £12/month kicks in after 24 months with no trades
Onboarding verification is slower than smaller or offshore brokers
Customer support quality drops outside UK business hours
Cons
Only available to Indonesian residents - no international clients
Limited asset classes compared to international brokers
Leverage capped at 100:1 under BAPPEBTI rules
No top-tier regulatory licence
No negative balance protection
No investor compensation scheme
Limited charting capabilities
Support available in limited languages
IG vs MIFX: Detailed Category Breakdown
A closer look at the specific criteria each broker meets or misses within each scoring category.
5
IG
criteria wins
2
MIFX
criteria wins
Highlighted rows show where the two brokers differ
| Criteria | IG | MIFX |
|---|---|---|
| Trust & Regulation | ||
| Top-tier regulator (FCA, ASIC, CFTC, etc.) | Pass | Fail |
| Segregated client funds | Pass | Pass |
| Negative balance protection | Pass | Fail |
| Compensation scheme (e.g. FSCS) | Pass | Fail |
| Fees & Spreads | ||
| Raw/ECN spreads available | Fail | Pass |
| No deposit fee | Pass | Pass |
| No inactivity fee | Fail | Pass |
| Transparent pricing page | Pass | Pass |
| Platforms & Tools | ||
| MT4/MT5 available | Pass | Pass |
| Proprietary platform | Pass | Pass |
| Mobile app | Pass | Pass |
| Advanced charting tools | Pass | Fail |
| Customer Support | ||
| 24/5 live chat | Pass | Pass |
| Phone support | Pass | Pass |
| Multilingual support | Pass | Fail |
IG vs MIFX: Frequently Asked Questions
Based on our independent editorial scoring, IG ranks higher with a score of 4.8/5 vs 3.8/5 for MIFX. The best choice still depends on your individual trading needs; IG and MIFX may each suit different trader profiles.
IG offers tighter spreads starting from 0.6 pips, compared to MIFX's spreads from 1.5 pips. Tighter spreads lower the cost per trade, particularly valuable for high-frequency and scalping strategies.
IG has a lower minimum deposit of no minimum required, while MIFX requires at least $30. This makes IG more accessible for traders with limited starting capital.
IG holds top-tier regulation (FCA, ASIC, DFSA), providing stronger investor protections. MIFX may be regulated but does not hold top-tier status in our data. Always verify regulatory status with the broker directly before depositing funds.
For beginners: IG has a lower minimum deposit (no minimum), lowering the barrier to entry; IG offers negative balance protection, capping losses at your deposit amount. Also weigh up educational resources and customer support quality before deciding.
IG offers maximum leverage of 30:1, while MIFX offers up to 100:1. Available leverage varies by account type, instrument, and jurisdiction. Higher leverage amplifies both potential profits and losses. Always use appropriate risk management.
IG supports MetaTrader 4, Proprietary Web/Mobile, TradingView and MIFX offers MetaTrader 4, Proprietary Web/Mobile; both support MetaTrader 4, Proprietary Web/Mobile; IG exclusively offers TradingView.
Ready to get started?
Open an account directly with the broker that suits you best.
Score 3.8 / 5
More Broker Comparisons
More IG comparisons
More MIFX comparisons
Personalised recommendation
Not sure which broker is right for you?
Answer 6 quick questions and we'll match you with the brokers that best fit your trading style, experience level, and country.
Find my broker