MIG BANK is one of the leading Swiss based banks, besides banking offering online currency trading services. The company was established in 2003 as a bank and later started providing investing services. The broker’s headquarter is located in Lausanne, Switzerland. The broker’s services and activities are regulated by such major financial regulator as FINMA. The Swiss Bank license gives the company’s clients extra confidence in their funds safety and the broker’s reliability.
The trading accounts with the broker start from $2000 with leverage reaching up to 500:1 and pip spreads on major currency pairs starting from 0.5 pips. The broker offers its customers the worlds’ most popular trading platform – MetaTrader4, which is a powerful trading tool, allowing automated trading and executing trading orders in no time. The broker provides its clients with the best trading conditions on the market and low and tight spreads, daily financial reviews, technical analysis and much more useful financial data.
The broker’s customers have the possibility to trade in comfortable trading environment without dealer involvement, requites and any restrictions on trading techniques and strategies.
|Address||4, Avenue d|
|Free phone||800 644 000 00|
|24 hour support|
|24 hour trading|
|Accepts US traders|
|Digits after the dot in quotes||5|
|Minimum position size||0.1|
|Pip spread on majors||2-4|
|Standard account, $||10000|
|Mini account, $||2000|
|Other payment methods|
|Popular payment methods||Credit Cards, PayPal, Wire Transfer|
|Account currencies||EUR, USD, GBP, JPY|
|Languages||English, Spanish, Chinese, Japanese, Arabic, Italian, Greek, Korean, German, Portuguese, Russian, French, Turkish|
Order execution is fast. I'm not comparing it to other brokers but there is no big slippages and spreads for scalping trading. I do tens of trades a day and really satisfied.
I've experienced serious issues the past severals months - since they've been aquired by Swissquote the^offer doesn't match their services anymore.
BE CAREEFOUL; big spread during volatiy time and margin call (!) set at 25% with or without customer's consent.
The big ones is Credit Suisse who do retail FX, and also as UBS do FX...but not sure if is retail. Also there are ACM/Swiss Quote Bank.
I'm about to open a real account with MIG cos they offer the MT4. My really wanted to go with Dukas Copy but the guy there kept pushing for me to go on their JForex platform, I found out at the end that he was doing this cos even though you see MT4 on the Dukas site...they don't actually have it anymore, crappy and deceptive if you ask me!
I want to go with a Swiss broker, is there anyo other good broker, or Swiss bank that is worth for me to look in to? Thx.
What attracted me to MIG at the begining was their acquisition of the Swiss Bank Licence, the number of currency pairs they offered, 70 I believe, and their customer support which was ok. What has now pushed me to stop being their client is their MT4...too often I have experienced 5 to 60 minutes of down time. They claim it is not fully their fault being that the platfrom is a 3rd party platform, that said MIG should do whatever is required to solve the problem. They claim they are working on their own in-house platform but that they are still many months away from beta stage, and the choice to tradable markets(what I wanted when they became a bank) is also not for any immediate date.
All that said, the news of AC - Markets becoming part of Swissquote Bank can only come as breath of fresh (Swiss!) air for other traders sharing my sentiments, not just about MIG but other brokers who just...don't seem to reach the hype they spurt. I have had an ACM demo for 5 weeks now (webtrader, and not their version of MT4) and although it required me to adjust to the differences, I am finding it a far more complete platform. Maybe down the line I will see what Swissquote can now offer its ACM clients as well. This trully feels like the complete trader's package.