Clicky

MIG Bank Review

Posted By Marcus Holland On Friday, May 3rd, 2013 With 0 Comments

Introduction

MIG Bank is a market maker that started its brokerage services in 2003. It has its headquarters in Lausanne, Switzerland; it is regulated by the Swiss Financial Market Supervisory Authority (FINMA), and it has subsidiary offices in Zurich, Hong Kong, and in London.

Asset Index

The asset index available for trading for the explorer and standard accounts on is given below:

CURRENCY PAIR Spread(Explorer) Spread(Standard)
EUR/USD 2.2 2
USD/JPY 2.1 1.9
AUD/USD 3.4 2.8
GBP/USD 2.7 2.3
USD/CHF 2.8 2.4
USD/CAD 4.2 3.2
EUR/GBP 2.3 2
EUR/CHF 2.7 2.4
EUR/JPY 3.2 2.7
CAD/JPY 6 5
CHF/JPY 6 5
NZD/USD 6 5
AUD/JPY 5 4
GBP/CHF 7 6
NZD/JPY 6 5
EUR/CAD 6 5
AUD/CHF 6 5
NZD/CAD 7 6
AUD/CAD 7 6
GBP/CAD 7 6
GBP/AUD 6 5
GBP/JPY 8.7 7.7
CAD/CHF 8 7
NZD/CHF 8 7
EUR/NZD 11 10
AUD/NZD 7 6
EUR/TRY 9 8
GBP/TRY 9 8
TRY/JPY 8 7
USD/TRY 8 7
GBP/NZD 12 11
CAD/SGD 12 11
EUR/DKK 8 6
SGD/JPY 802 800
USD/SGD 8 6
USD/HKD 9 7
CHF/SGD 10 8
NOK/SEK 10 8
EUR/SGD 10 8
NOK/JPY 16 14
SEK/JPY 2.8 0.8
NZD/SGD 10 8
GBP/SGD 10 8
USD/DKK 18 16
EUR/HKD 30 28
EUR/NOK 26 24
EUR/SEK 36 34
USD/NOK 27 25
NZD/DKK 31 29
CHF/NOK 35 33
CHF/PLN 33 31
EUR/CZK 4.6 2.6
EUR/HUF 31 29
USD/CZK 4.4 2.4
USD/PLN 44 42
USD/HUF 28 26
SGD/HKD 28 26
EUR/PLN 51 49
USD/SEK 30 28
GBP/DKK 27 25
GBP/HUF 42 40
USD/MXN 32 30
HKD/JPY 62 60
GBP/PLN 37 35
GBP/NOK 39 37
GBP/SEK 36 34
CHF/HUF 22 20
NZD/SEK 46 44
EUR/ZAR 57 52
USD/ZAR 75 70
USD/RUB 235 230
XAG/AUD 635.5 635
XAG/CAD 687.5 687
XAG/CHF 650.5 650
XAG/EUR 589.5 589
XAG/GBP 450.5 450
XAG/USD 604.5 604
XAU/AUD 82.5 82
XAU/CAD 147.5 147
XAU/CHF 81.5 81
XAU/EUR 60.5 60
XAU/GBP 66.5 66
XAU/USD 68.5 68
XAU/TRY 545 543
XAG/TRY 2500.5 2500

Trading Platforms

The platform solutions that are available for use on MIG Bank are listed below:

MIG MT4 Trading Station: MIG Bank provides its clients with the opportunity of utilizing the robust features of MetaTrader 4 through its MIG MT4 Trading Station. This platform comes with chart and indicator options, trailing stops, live news feeds, among other features.

MetaTrader 5: MIG Bank presents the MetaTrader 5 which is the latest innovation in the MetaTrader trading technology. It features 3 chart types, 21 timeframes; various order types and execution modes, built-in indicators, enhanced security and encryption, and the MQL5 development environment.

Web Platform: MIG Bank provides its customers with the opportunity of trading forex from any location with the easy to use Web platform. It gives the user access to automated executions, and instant execution of orders. It can be accessed from any computer that is connected to the internet.

Mobile Applications: MIG Bank has made it very easy for its clients to trade forex from any location, and at any time through the use of the mobile devices. Clients of MIG Bank, have access to their trading accounts through the secure terminal that is a key feature of the mobile platform.

Deposits and Withdrawals

Deposits can be made on MIG Bank through PayPal and Bank Wire, while withdrawals can be made through Bank Wire.

Minimum Deposit

The minimum deposit amount allowed on MIG Bank is 2,000 USD for the explorer account, 10,000 USD for the standard account, 50,000 USD for an advanced account, 100,000 USD for an advanced plus account and 250,000 USD for a prime account.

Maximum Deposit

The maximum deposit for allowed is 10,000 USD for an explorer account, 50,000 USD for a standard account, 100,000 USD for an advanced account, and 250,000 USD for an advanced plus account.

Minimum Trade Size/Amount

The minimum lot size is 0.1lot.

Maximum Trade Size/Amount

The maximum lot size is 100 lots.

Minimum Withdrawal Limit

There are no minimum withdrawal limits.

Maximum Withdrawal Limit

There is no maximum withdrawal limit.

Conditions for Deposit and Withdrawals

Deposits via credit or debit cards will only be accepted by MIG Bank if the name on the account matches the name on the credit card.

Customer Support

The customer support on MIG Bank can be contacted through the following means:

a)         Phone: +41 58 721 90 00 (Headquarters)

+41 44 808 69 00 (Zurich)

+44 207 186 2600 (UK)

+852 3902 0000 (Hong Kong)

b)         Email: info@migbank.com

Zurich@migbank.com

info@migcapital.co.uk

info@migcapital.com.hk

c)         The Live Chat facility is another means through which the customer support team can be contacted.

Share Button

Leave a comment