MIG Bank

MIG Bank Ltd.

MIG Bank - Forex Broker

Broker nameMIG Bank
Company nameMIG Bank Ltd.
Online since2003-01-01
Site urlhttp://www.migfx.ch
CountrySwitzerland
Minimum account size2000.00
Minimum account size currencyUSD
Minimum position size0.100000
Maximum leverage200
Maximum leverage descriptionup to 1:200
Spread levelmedium
Spread description2 (1 for institutional accounts) pips on EUR/USD
Is regulatedYES
Regulation descriptionBanking license no. CH-645-4096536-3.
Easy registrationNO
Votes count223
Rating6.00
Email[email protected]

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Advantages

  • MetaTrader Forex broker.
  • Competitive spreads.
  • Shares its profit with UNICEF.

Disadvantages

  • Opening an account is a complicated process.
  • High account minimum.

Payments

  • Credit cards
  • PayPal
  • Wire transfer

Categories

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11 Reviews

  1. Igor Petrow:

    Hi traders, I deposited $20,000 and wanted to trade with my EA, but I got nothing but losses. And this is only on MIG-live account. Everything works fine with their demo-platform and on Alpari UK. This broker is a scam. I do not advise you to trade with them, if you want to save your money.

  2. Peter Sabowski:

    I have lost $100,000 with them. I opened a prime account AND DEPOSITED $250,000 in Oct 2010. Some of those money I lost because of my strategy, but other because of slippage and requites and technical problems with their system. I could not properly trade during the news times. They execute the orders at different prices with a derivation of 30 points. All they say about transparency is false. An average spread that you can get with them is 2 or 3 pip on EUR/USD. Orders execution is very slow.

  3. Sheridan:

    MIG is the best broker from all I ever knew…well it used to be. Now, when they change their conditions they are not so good to me anymore. They we spike on your real account but this is what you will not find on your demo account. I have started experienced many problems with platform. They manipulate your history data as well. Because of those problems with the spikes I have lost nearly one million. They also know how to take advantages from rapidly moving market. There is no use to complain as they simply do not react on our complaints. This is the first cases I have ever met like this. This is what has been happening for the last two years. Now, I suggest avoiding this broker and sticking to a real broker. I myself looking ECN Broker now.

  4. akram bin khalid:

    MIG are scammers. I have lost with them more than $177,000 in total. I have completed but they did not react. I am sure they do electronic crimes. You should check your financial bar in your platform.
    Kind regards
    Akram Bin Khalid

  5. krsan2000:

    They allow depositing with PayPal

  6. joao neto:

    I have been using MIG for four months and they are great. Quick withdrawals. And now they are a bank!

  7. Aaron Cohn:

    I have been trading with MIG several months now. To my opinion, they are honest and fair, and credible broker I have ever trade with. I have been a refugee sometimes. I can tell, that they do not stop spike or hunt you. They support EAs, but you just need to complete some registration to get an access. I made a test with them by withdrawing an amount of several thousand $ the next day. It took six hours to debit my card and about two days to get the money on my account in Texas. This is fast and good and is better than what I have met with other the USA brokers. They have one problem which is that they do not allow scalping. They never told me what this means, which is multiply trades, closed in several minutes. I like them very much and I am going to stay with them for a long time. I am short-term. I stay trading from 15 minutes to several hours. Generally, I have no complains. I can name them as the best broker for me.

  8. rob morton:

    I have been using their demo account for several weeks. One time I could not log in to their system. I wrote their support to help me out and did not get the reply. I am here to say the bye, bye. There is not why I can trust you my money.

  9. sheila:

    I have been trading with them for a year now and I must say that their customer service is great. They have good spreads which they rarely make higher. One time they phoned me from Switzerland to fix an issue I that I had with registration because of my fault. This is true that they can have some connection problems within a day. They had a big problem with network only one time for about two hours but they advised their clients on this. Another time then the system was down they did not make me to pay my swap. I wrote them and they immediately refunded my account. I would like to controvert the post posted below. They offer EAs, I used one for a long time. In order to use this, you need to activate it. They are currently working to open a bank branch which would be a good thing for their clients…well, at least I hope, it will be. Another great advantage of them is that they are from Switzerland ;-)

  10. Simon Leopold:

    MIG is a great broker, for the most things. They have one major problem, however. They can have problems with their service for several times a day. I can last up to 10 minutes. I am a fund manager and I understand that this is not a good thing. Even with this big issue I am giving them the rate 8.5 out of 10.

  11. Eben Bester:

    Disadvantage: They do not support Expert Advisors

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