MIG Forex Broker Review

Account Types	Mini: min 2,000 USD, Classic: min 10,000 USD, Advanced: min 50,000 USD, Prime: High deposit and volume
Regulated By	FSA (UK)
Leverage	1:500
Mobile Trading	Yes
Hedging Facilities	Yes
FIFO Rules	None
Scalping allowed	Yes
Swap free accounts	Yes
PAMM	Yes
Payment Methods	Wire Transfer
Demo Size	Up to $5 million
Demo Duration	30 days
Platforms	MetaTrader 4

MIG Bank is the largest Swiss broker in the foreign exchange niche. This broker has the ability to connect its clients to a huge pool of liquidity, without having to do it via a dealing desk. MIG Bank is a popular broker that’s so well-known due to the fact that they have been in business long enough to see an F1 team sponsor it. This brokerage firm is properly regulated and a well-capitalized Swiss financial house.

ARIF regulates MIG, allowing them offer some of the most versatile financial products in a highly secured and regulated environment, without restrictions as regards the investors geographical location – customers from anywhere on the globe are allowed on MIG Bank to trade live accounts.

There’s focus on large account holders, and for those who are looking for accounts of around $500, MIG might not necessarily be the right place for you. For investors who are looking for a broker that offers large trading accounts condition, search no more. A minimum deposit of $5,000 is required on a “Standard” account at MIG, along with competitive spreads of 2 pips for the EUR/USD, and a reliable order execution.

There’s also a “Professional” account that has an initial deposit benchmark of $100,000, and has a more stable trading condition. This account type offers a $1.5 rebate on every 100,000 point trade circle, thus reducing your transaction costs. There’s fast execution even with the large pool of liquidity that’s offered by UBS, and the ability to fill orders running up to 20,000,000.

There’s also provision for “Institutional” accounts with minimum investments of $500,000 in excess. This type of accounts offers extremely low spreads, and direct access to MIG’s professional team. They have the obligations of designing any automated trading system on your behalf at no cost.

Advantages of Using MIG Forex Broker

1. MIG offers investor a reliable platform, that’s secured and adequately regulated by FINMA and also holds a Securities Dealer License.

2. There’s unique and complete transparent dealing model with advancements in pricing. MIG is able to execute clients’ orders at the most leveled price that can be obtained in the market.

3. Price can be in favor of the investor if it moves in his direction and price continues to be completely transparent.

4. You can trade multiple assets on MIG Bank via their multiple trading platform i.e. you can implement their MT4 trading platform, web based platform and mobile trading application on one platform, anywhere, anytime.

5. You can enjoy CFDs, Forex and Bullions on the same trading platform as well as the exclusion of swaps and extremely low trading commissions on the broker..

Disadvantages of Using MIG Forex Broker

1. The minimum account deposit on MIGs’ Mini Account level is $2,000 and thus not appealing to investors of medium income.

2. Opening of accounts on MIG Bank can be a complicated process.

Conclusion

You can deposit/withdraw funds in and out of your MIG trading account via Credit cards, PayPal, and Wire transfer. For those who have funds to invest, this is definitely the best broker to do business with, while investors with little funds, should get a broker that allows mini accounts, master the process and when their cash returns is huge enough, you can come back to MIG Bank.

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