Both brokers present distinct regulatory bases and pricing frameworks, testing your preference for local liquidity versus EU oversight.
Windsor Brokers edges MIFX on the editorial score due to CySEC regulation and ECN pricing.
Find out which broker best suits your trader profile.
Choose MIFX if…
Choose MIFX if you want domestic BAPPEBTI and OJK regulation and IDR-denominated accounts.
Choose Windsor Brokers if…
Choose Windsor Brokers if you want CySEC oversight and ECN pricing with 0 pips and $8/lot.
Which broker wins for each type of trader, based on costs, safety, platforms, and editorial scoring.
Windsor Brokers offers tighter spreads from 0.00 pips vs 1.50 pips for MIFX, reducing trading costs.
| Editorial score | 3.8/ 5 | 4.0/ 5 |
|---|---|---|
| Score Breakdown | ||
Trust & Regulation 40% weight | 3.7 / 5 | 4.2 / 5▲ |
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
A closer look at the specific criteria each broker meets or misses within each scoring category.
| Criteria | MIFX | Windsor Brokers |
|---|---|---|
| Trust & Regulation | ||
| Top-tier regulator (FCA, ASIC, CFTC, etc.) | Fail | Fail |
| Segregated client funds | Pass | Pass |
| Negative balance protection | Fail | Pass |
| Compensation scheme (e.g. FSCS) | Fail | Pass |
| Fees & Spreads | ||
| Raw/ECN spreads available | Pass | Pass |
| No deposit fee | Pass | Pass |
| No inactivity fee | Pass | Pass |
| Transparent pricing page | Pass | Pass |
| Platforms & Tools | ||
| MT4/MT5 available | Pass | Pass |
| Proprietary platform | Pass | Fail |
| Mobile app | Pass | Pass |
| Advanced charting tools | Fail | Fail |
| Customer Support | ||
| 24/5 live chat | Pass | Pass |
| Phone support | Pass | Pass |
| Multilingual support | Fail | Pass |
The scores are close: MIFX rates 3.8/5 and Windsor Brokers rates 4/5. Windsor Brokers has a marginal edge in our scoring, but the difference is small enough that your specific priorities — fees, platforms, or regulatory jurisdiction — should guide the final choice.
Windsor Brokers starts from 0 pips, tighter than MIFX's 1.5 pips. Tighter spreads lower the cost per trade, which matters most for high-frequency and scalping strategies.
MIFX has $30, while Windsor Brokers requires at least $100. This makes MIFX more accessible for traders with limited starting capital.
MIFX is regulated by BAPPEBTI, OJK. Windsor Brokers is regulated by CySEC, FSCA. Confirm a broker's current regulatory status on the relevant regulator's public register before opening an account.
For beginners, two factors stand out: MIFX requires a lower minimum deposit ($30), lowering the barrier to entry, and Windsor Brokers provides negative balance protection, capping losses at your deposit amount. Also compare demo account availability and educational resources before deciding.
MIFX lists maximum leverage of 100:1, while Windsor Brokers lists up to 500:1. Available leverage depends on your jurisdiction. EU retail clients under ESMA rules are capped at 1:30 on major forex pairs.
Windsor Brokers charges $8 per lot on commission-based accounts. Commission details for MIFX are not currently available. Check their website for up-to-date pricing.
MIFX supports Proprietary Web/Mobile, MetaTrader 4, while Windsor Brokers supports MetaTrader 5, MetaTrader 4. Both provide MetaTrader 4. MIFX has exclusive access to Proprietary Web/Mobile. Windsor Brokers has exclusive access to MetaTrader 5.
Windsor Brokers wins with CySEC regulation and EU investor protections.
Windsor Brokers suits active traders with ECN pricing and higher leverage.
Windsor Brokers is better suited for scalpers: tighter spreads from 0.00 pips.
MIFX wins for platform choice with a proprietary option alongside MT4.
MIFX is better for beginners with a low $30 minimum and IDR accounts.
Windsor Brokers offers a broader instrument universe with 200 assets.
Fees & Spreads 30% weight | 3.9 / 5 | 4.0 / 5▲ |
|---|
Platforms & Tools 20% weight | 3.8 / 5 | 3.8 / 5 |
|---|
Customer Support 10% weight | 3.9 / 5 | 4.0 / 5▲ |
|---|
| Founded | 2003 | 1988 |
|---|
| Headquarters | Jakarta, Indonesia | Nicosia, Cyprus |
|---|
| Min Deposit | $30▼ lower | $100 |
|---|
| Spreads From | 1.5 pips | 0 pips▼ lower |
|---|
| Commission / lot | N/A | $8/lot |
|---|
| N/A | 0.8 pips |
| Max Leverage | 100:1 | 500:1▲ higher |
|---|
| Inactivity Fee | None | None |
|---|
| Deposit Fee | Free | Free |
|---|
| Deposit methods | Bank transferCredit cardDebit card | Bank transferCredit cardDebit cardSkrillNeteller |
|---|
| Withdrawal methods | Bank transfer | Bank transferCredit cardSkrillNeteller |
|---|
| Withdrawal Fee | Free | Free |
|---|
| Regulators | BAPPEBTI OJK | CySEC FSCA |
|---|
| Platforms | Proprietary Web/Mobile MetaTrader 4 | MetaTrader 5 MetaTrader 4 |
|---|
| Active bonuses |
|---|
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
Pros
35+ years of continuous operation, one of the longest track records in retail forex
CySEC regulated with EU investor protections
ECN Zero account from 0.0 pips + $8 commission
Islamic swap-free accounts available
Client funds held in segregated accounts
Negative balance protection
Investor compensation scheme coverage
No deposit fees
No inactivity fee
MetaTrader 4 and MetaTrader 5 supported
Mobile trading app available
Transparent pricing with clear cost disclosure
24/5 live chat support
Phone support available
Multilingual customer support
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
Cons
Platform limited to MT4 and MT5, no cTrader or proprietary option
$100 minimum deposit on standard accounts
ECN commission slightly above IC Markets and Pepperstone
No top-tier regulatory licence
Limited charting capabilities
Dig deeper into each broker’s features, fees, and regulation.
Score 3.8 / 5
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