See MIG Bank reviews
| 5.4/10 (133 votes) | |
|---|---|
| Company | MIG Bank Ltd. |
| On-line since | 2003 |
| Country | Switzerland |
| Payment options | Wire transfer, credit cards and PayPal |
| Minimum account size | $5,000 |
| Minimum position size | 0.1 lot |
| Leverage | up to 1:200 |
| Categories | |
| Spread | 2 (1 for institutional accounts) pips on EUR/USD |
| Regulation | Banking license no. CH-645-4096536-3. |
Click here to open an account with MIG Bank
7 reviews of MIG Bank are presented here. All reviews represent only their author's opinion, which is not necessarily based on the real facts.
i use mig for 4 months and is very good.
fast withdrawals. and now is a BANK!
I've been with MIG a few months now. In my opinion, they are the most honest, credible broker I've ever been with & I've been a refugee from quite a number. As far as I can tell, they don't stop hunt or spike you out of trades. They DO support EAs, though you have to fill out a form to get access. Just as a test, I withdrew a sum of several thousand dollars the other day. The debit from my account took under 6 hours, and the wire to my texas bank account was complete in under 2 days. This efficiency & speed is better than I've encountered in any US broker. One potential problem is they do not allow "scalpers", and they never tell me what that means... is it multiple trades closed in a few minutes, is it the size of the gain you're aiming for... what?! I very much like them as a broker & am interested in staying in their good graces, but I am an auto-trader & a shorter term one at that (15 minutes to several hours trading). Aside from that silly nit, I have no complaints. They are the best broker I've ever had.
I have had a demo with mig for a few weeks now, but since the end of fridays trading it hasn`t come back on, its now the following tuesday evening, i e-mailed their support twice and got no reply.... bye bye mig. no way could you ever trust a live account with them, i certainly wont.
I have been a MIG client for over a year and they offer excellent customer service and decent spreads which they rarely widen. They phoned me from Switzerland one day (lunch time) to fix an issue I had with registration (my fault). It's true that they undergo daily routines which disconnect for a short period. Only once did they have significant network problems (2 hours) and they advised their clients about this. Also one evening when they were down for a few minutes, I didn't get my swap paid. I emailed them and they proptly refunded my account.
Contrary to what a poster wrote below, yes they do offer EAs, I traded with one for a while. However, you need to fill in a form for this to be activated.
They are in the process of opening up a "bank" branch which might be advantageous to their forex clients (I hope so anyway).
One last advantage: well, they're in Switzerland ;-)
MIG is a good broker, for the most part. There is one major issue, however. Their server will go down a few times per day, and sometimes it will be down for more than ten minutes. Being a fund manager myself, this is not reliable enough. Other than this "major" issue, I would rate MIG an 8.5.
disadvantage:
do not support expert advisors
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they accept paypal