This paper presents a microstructure optical fiber based on an hexagonal structure for dispersion compensation in a wideband transmission system. According to simulation, negative dispersion coefficient of − 562 ps/(nm.km) and relative dispersion slope (RDS) close to that of single mode fiber (SMF) of about 0.0036 nm−1 is obtained at 1550 nm wavelength. Besides the proposed hexagonal microstructure optical fiber (H-MOF) offers high birefringence of 3.06×10−2. Due to having better optical properties, this proposed fiber can be effectively used in broadband dispersion compensation and sensing applications.