MiFinity

MiFinity is an electronic money institution offering a multi-currency wallet, local payment options across a broad set of countries, and merchant payouts. It is authorised in the EEA and works with brokers as both a deposit and a withdrawal rail, which is the property that distinguishes a useful wallet from a deposit-only convenience.

How it is used

You load the wallet by bank transfer, card or one of the local methods available in your country, then pay the broker from the balance. Deposits credit immediately. Withdrawals return to the wallet, usually within a business day, and from there to your bank. The intermediate step costs time but solves a real problem for traders whose local banking makes direct broker transfers slow or unreliable.

Fees and currencies

The wallet supports a wide currency list, and the meaningful cost is the exchange spread applied when your loading currency differs from your trading account currency. Loading fees vary by method. Merchant payments are typically low-cost or free. As with any wallet, the total cost of the route is the load fee plus the exchange spread plus any broker charge — compare the whole chain rather than the broker's line alone.

Verification

MiFinity applies identity verification with tiered limits, and unverified accounts cannot move meaningful sums. Complete verification before you need the withdrawal route rather than at the point of using it, since documents are reviewed on the wallet's timeline, not the broker's.

Withdrawal name matching

The wallet must be in the same name as the trading account. This is the standard anti-money-laundering rule across every method on this site, and wallets are where it is broken most often, because they are easy to open in someone else's name and impossible to withdraw to. ProForexBrokers.com sees more withdrawals stalled by a name mismatch than by any technical failure.