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MIG fx - MIG Investments Review

MIG fx is one of the top Swiss forex brokers, regulated by ARIF, offering one of the most highly regulated and secure environments in which to trade spot forex, silver and gold, without any restrictions based on traders' place of residence - traders from any country in the world are welcome to have real accounts.

MIG fx focuses mainly on larger account holders, so if you are looking to open a $500 account, you may be better served elsewhere. For large account holders, however, it is hard to beat the trading conditions offered by MIG fx. A "Standard" account starts with a minimum deposit of $5,000, and offers competitive spreads from 2 pips on EUR/USD, and great order execution.

"Professional" accounts start at $100,000 and offer significantly better conditions, mainly due to the $1.5 rebate per 100,000 round turn trade, in effect lowering your transaction costs. The execution is just as good, due to the large pool of liquidity provided by UBS, and orders of up to 20,000,000 units can be filled.

MIG fx also offers "Institutional" accounts for investments of $500,000+. Institutional accounts offer lower spreads, and direct access to the MIG fx research team. They will also program any automated strategies for you at no charge.

 

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Subjective Ratings

Charting: Four and Half star Charting Rating
Execution: Three and Half star Execution Rating
User-friendliness: Four and Half star User-friendliness Rating
Customer support: Four star Customer Support Rating
Transaction costs (spreads): Four star Transaction Costs (spreads) Rating
Rollover interest rates: Four star Rollover interest rates Rating
Withdrawal processing: Three and Half star Withdrawal processing Rating
Platform Functionality: Four star Platform Functionality Rating
Platform Reliability: Four star Platform Reliability Rating
Average rating: Four star Average Rating

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Business Details

Broker Headquarters: Neuchatel, Switzerland
Regulated By: ARIF (Switzerland)
Client Account Segregation: No
Collect Taxes on Earnings: No
Accept US traders?:
Main liquidity providers: UBS
Registered Business Name: MIG Investments SA
In business since year: 2003
Deposit/Withdrawal methods:
MethodDeposit FeeWithdrawal Fee
PayPal $0 $0
Wire Transfer $0 $0

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Trading Conditions

Browser platform: none
Downloadable platform: MIG fx Metatrader 4 (MT4)
Mobile platform: none
Phone dealing: Yes
No Dealing Desk Execution: No
Fixed spreads: No
Guaranteed stop losses? Stop orders executed at best available price.
Hedging capability: Yes
Trading Hours: From Sunday 23:00 CET through Friday 23:00CET
Timezone CET (Central European Time)
Scalping allowed: No, scalping strategies are not
Account currencies available: AUD, CAD, CHF, EUR, GBP, JPY, USD
Platform languages: Arabic, Bulgarian, Czech, Dutch, English, Estonian, Farsi, French, German, Greek, Hebrew, Hungarian, Indonesian, Italian, Japanese, Korean, Lithuanian, Polish, Portuguese, Russian, Serbian, Simplified Chinese, Slovak, Spanish, Traditional Chinese, Turkish
Support languages: Afrikaans, Arabic, Cantonese, Czech, Danish, English, French, German, Greek, Hindi, Indonesian, Italian, Japanese, Korean, Malay, Mandarin, Norwegian, Polish, Portuguese, Russian, Slovak, Spanish, Swedish, Turkish, Ukrainian, Urdu
Demo account: 90 days
Live chat support: Yes
Promotions & tournaments: Professional Accounts receive a rebaate of $1.5 per lot round turn.
Swap-free accounts  No swap-free accounts available
Typical spread on EUR/USD: 2 pips (0.0002) on Standard and Professional Accounts. 1 pip (0.0001) on Institutional Accounts.
Order processing: Market Maker
OCO orders available: No
Trailing Stops: Client-side
If/then orders available: No
Account Types
Account Maximum
Leverage
Minimum/Maximum
deposit:
Minimum/Maximum
trade size:
Notes
Professional Account 100:1* $100,000/unlimited 10,000/20,000,000
Institutional Account 100:1* $500,000/unlimited 10,000/20,000,000
Standard Account 200:1* $5,000/unlimited 10,000/20,000,000
Tradeable Instruments: 34   
Automated Trading: Yes
Depth of market view (Liquidity): No depth of market view available
Interest on Margin: No
Pending Orders Away from Market:

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* The high degree of leverage available in foreign exchange trading can work against you as well as for you. Investors should ensure they are fully aware of the benefits and risks before putting any money on the line.

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