MIG Bank — Forex Broker

Demo freezes for no reason after 1 day, doesn't come back, doesn't let you create new accounts. Live chat- "Hi How may I help? You can email your problems to info@mig-blah blah.com we will revert to you shortly" Looks like I'm going to switch broker for my live account! Disappointing for a BANK

Where should I start!!! MIG Investment is by far the worst broker I have ever signed up with!!! Please be very very careful while choosing a broker. MIG Investment is know to move the markets to your disadvantage. I registered with them though an introducing broker. I will mention her name. Her name is "Melody". She represents them here in Californian and some other states as well. She is an introducing broker for MIG who get 50% commission on every trade that you make. She will scam you showing that she has been making a lot of money trading with them, but don't trust her. All this MIG Investment did was freeze during news reports. Every time I wanted to place an order if it was to my advantage it would freeze up or give me the trade when it was too late. If the market was not to my advantage it would let the negative position go through so fast it's unbelievable. There scams are shown clearly like day light. Please be very careful. Please be aware that every positive review you see here are by someone representing the broker. Not everyone want's to spend there time to promote other brokers for free.

But for the negative review you see here, I would believe are to be true. People have been burnt and they are the ones who truly want to warn you of there scams. Please be very careful while choosing a broker.

Thanks.

I have to say that I was initially very aprehensive about opening a forex account with a broker overseas. Especially having read some of these reviews, but i did and i can honestly say that MIG is better then what i expected. They are completely legit and basically good enough. Withdrawals are quick, within 2 days. Now I do have a few problems with them. I think their trading platform itself is pretty antiquated, I feel like its something from 10 years ago. Also, their english speaking customer service people, though polite and competant, have the thickest accents that i can barely understand a word they're saying sometimes. However, after 4 months with them I give them a 7/10.

Hi all, please don't be amazed by MIG's profile and promises as once you deposit - that that is gone. You will end up discovering strange behaviors on market ... your MT4 will have unexpected jumps - just enough to kill your positions. And no other brokers will have those jumps. Also, different spread you will realize after loosing big money and after complaints you can get answer that you should use EURUSD1 and not EURUSD as by default you are on new conditions (which you never agreed!?). On any complaints you will find superior and arrogant answers that you are not right. There is much more I unfortunately experienced with them but these I hope are enough. No welcome bonus ... no incentive bonuses ... no willing to keep customer and return some money even as trade-only ... Nothing. If I can vote somewhere - I would give -10 for them. Save your money and go anywhere else. Aleksandar

Hi everyone, i deposit 20000$ and wish to trade with my EA...the system lose and lose...but only on the MIG-liveaccount...on the demo-plaform and on Alpari UK works fine!? This is a totally scam-broker sorry....beware of this fakers and scamers and save your money!!

I lost more than 100'000 with this bank. i have open a prime account with 250'000 in Oct 2010 and lose with my strategy but 40% they get with slippage and requotes and also freeze the trading station for up to 30 minutes at important news-time and fills the limits on highest or lowst price with a delivation of 30 points. The transparent dealing is a fake and you pay a average spread from 2.3 in eurusd and the execution is very bad.....

MIG is the best broker I once knew. Or has been for many years. Right now they\'re changing in a direction I really don\'t like. They spike you around (which they don\'t do in Demo), their servers \"freeze\" at important moments and they \"corrent\" your trade history (aka. \"take back\" money from you) if they see fit. At one point they took back... i can barely dare to say it... almost a million from me because their system was spiking like crazy and "unfortunately" my trading system took advantage of the rapid price movement... No use to complain - you could easily loose your entire account and never get your money back if you complain about these issues. Never heard about anything like this, and this has been happening only in last two years... Avoid. I for one, looking for a true ECN broker now...

MIG FRAUDER and they theft more than 177000$ total amount from me and there are acomplaint in finma but they dont do any thing and there are electronic crimes of them the important case you must to check in financial bar of your platform but any way this is the act

my regards

akram bin khalid

they accept paypal

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