FAQ
sourced from MIG’s website migfx.ch
What are MIG’s opening hours?
Sunday 23:00 CET through Friday 23:00 CET.
Is MIG Investments regulated?
MIG Investments is regulated by the Swiss Federal Department of Finance FDF, and a member of ARIF, a Swiss Association that controls and supervises financial intermediaries on behalf of the FDF. ARIF regularly carries out controlling audits to ensure MIG’s anti-money laundering strategy is in compliance with strict Anti-Money laundering laws.
Who are MIG’s bankers?
MIG is associated with AA+ rated banks such as UBS, Crédit Suisse, RBS and more.
What is MIG’s total capital?
CHF 10,000,000
Is MIG audited?
MIG employs the auditing services of KPMG, a world leader in audit, tax and advisory services, to perform audits throughout the year.
When was MIG Investments created?
MIG Investments was established in August 2003.
Why deal with us?
We offer smaller minimum deposit requirements rather then if client goes directly to MIG, other trading conditions are the same. Also we can arrange Swiss Private Bank account for free for serious clients. Our clients also can benefit from our managed account services.
Does MIG Investments have offices in other countries?
No. MIG is headquartered out of Neuchâtel, Switzerland and plans to build regional offices around the world in the future. Currently, we have representatives for every region in the world stationed at our headquarters.
Does MIG Investments provide technical analyses?
Yes. MIG provides a packet of premium technical analysis, intraday and weekly reports, and assessments on the majors and major crosses. MIG recently created an in-house Research Department, headed by Richard Morrish. With over 30 years experience in the commodities, futures and forex field, Richard can also be seen on CNBC sharing his market takes on behalf of MIG.
Can I trade mini-lots with MIG Investments?
Both Standard and Professional Account Holders are authorized to trade mini-lots. The minimum amount is point 0.1 lot (10,000 of the base currency).
Can my account be denominated in other currencies than US dollars?
Yes, you can choose to have your account denominated in USD, EUR, GBP, JPY, CHF, AUD or CAD.
Does MIG accept scalpers?
Due to the difficulties associated with covering such trades, MIG Investments does not accept scalpers.
Do you have guaranteed fills?
Our dealers always execute orders at the indicated price under normal market conditions. In situations of market gaps it is impossible to cover the positions with our liquidity providers, and you may be filled at a different price than initially requested.
What is the maximum you increase your spreads in volatile markets?
It is impossible to give a fixed maximum as it entirely depends on the market. However during important news announcements or in volatile markets we usually do not increase the spreads for the majors to more than 5 pips, occasionally to 10.
What do you mean by a ‘No maintenance margin’ policy?
Our no maintenance margin policy means that our clients can go below the margin requirements during the week without MIG closing their positions. Throughout the week your positions can fluctuate without MIG taking action. We only require you to respect the margin requirements by Friday evening. This no maintenance margin policy means that we do not give margin calls and we do not automatically close your positions if you go below the margin requirements of your positions. However, if you approach the level where the loss of your open positions approaches the balance of your account, you will be stopped out and your positions will be closed. The stop out will be executed when there is only around 2% equity of the required margin left in the account.
We believe that our no maintenance margin policy gives more flexibility to the clients, as they can decide for themselves when they want a position to be closed. Occasionally, if the market price is going against you, many of our competitors would close the position if it goes below the required margin – even if the price bounces back the next moment. We give the client complete control over his positions.
What leverage does MIG provide?
For accounts of up to US $25,000 we provide a leverage of 200:1. For accounts of up to US $ 1,000,000 we provide a leverage of 100:1. For accounts above US $ 1,000,000, refer to our margin chart.
Why is it not possible to trade or to modify orders during the weekend?
Our Dealing Room is closed during weekend and trading access is therefore blocked.
What is the maximum I can trade online?
There is no maximum amount you can trade online, however there is a maximum number of lots you can trade online at streaming prices. It is possible to trade larger amounts, but you will need to request a quote and depending on the market conditions, the spread may increase. Clients can also trade larger amounts by phone.
Does MIG offer Rollover free accounts?
No.
Why are Rollover rates tripled on Wednesdays?
When placing a trade in the spot Forex market, the actual value date is two days forward. A deal done on Thursday is for value Monday. A deal done on Friday is for value Tuesday, and so on. On Wednesday the amount of Rollover is tripled in order to compensate for the following weekend (during which time Rollover is not charged because trading is stopped for the weekend).
I have downloaded the MIG Trading Station but the platform says ‘no connection’. How do I connect?
When you download the platform it is important that you open a demo account in the system. The system cannot connect if there is no account. If you did not fill the grey box that popped up when you installed the platform, just go to ‘File’ in the menu and choose ‘Open an Account’. Fill the box that appears and remember to tick the box about newsletters. You should now receive an account with login and password and you will connect to the server – please accept the updates, when proposed.
Can I have the period of my demo account extended beyond the 90 days?
All demo accounts automatically expire after 90 days. Unfortunately, it is not possible to extend this period. Please be aware that all data regarding the demo account will be lost when the account expires. If you want to keep a copy of your trade history, we advise you to copy the account statement on your computer. To do that, go to Account History in the Terminal, right-click and choose ‘Save as Report’.
How is volume calculated on the charts?
The volume is the amount of incoming ticks. If the price is constantly changing, it is an indication of a large volume – The more changes, the more activity and the larger the volume.
Does the MIG Trading Station offer the trailing stop feature?
Yes. It is active on the demo platform, however, live accounts require a Trailing Stop Request. To activate the Trailing Stop on a position, go to ‘Trade’ in the ‘Terminal’ at the bottom of the platform, right-click and choose Trailing Stops. Please note that you have to be making a profit of minimum 15 pips before you can activate it.
IMPORTANT – Your MIG Trading Station terminal must be on at all times for this feature to work or your account will be exposed to unlimited risk.
Does the platform allow hedging?
You can without any problems open hedge positions (hold both long and short positions of the same pair) on the MIG Trading Station.
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