Slippage is the difference between the price at which the order has been placed and the price at which it has been executed by the broker. The less slippage you get, the better your trading results will be.
Our slippage data about MIG Bank is sampled by 10 of the most popular forex trading strategies in Zulutrade.com.
Kama-spot is a forex trading strategy, based on technical analysis. It trades mainly EUR/USD, GBP/USD and USD/CHF
Average profit: 14.0 pips
Average trade lifespan: 19 hours
Most traded pairs: EUR/USD, GBP/USD and USD/CHF
Average profit: 16.0 pips
Average trade lifespan: 1 day
Average profit: 9.0 pips
Average trade lifespan: 5 hours
Average pips/trade: 5.0
Average trade lifespan: 18 hours
Average pips/trade: 12.0
Average trade lifespan: 15 hours
Average profit: 28.0 pips
Average trade lifespan: 3 days
Average profit: 22.0 pips
Average trade lifespan: 13 hours
Average pips/trade: 9.0 pips
Average trade lifespan: 1 day
Average profit: 9.0 pips
Average trade lifespan: 11 hours
Average profit: 10.0 pips
Headquarters: 14, Routes des Gouttes d'Or, 2008 Neuchatel
Country: Switzerland
Regulated by: FINMA
Subsidiaries: offices in Hong Kong and Zurich
Bonuses: N/A
3
4.0
Explorer Account
minimum deposit: less than $10,000
minimum trade size: 10k
max leverage: 1:500
Standard Account
minimum deposit: $10,001 - $49,999
minimum trade size: 10k
max leverage: 1:200
Advanced Account
minimum deposit: $50,000 - $99,999
minimum trade size: 10k
max leverage: 1:100
Advanced Plus Account
minimum deposit: $100,000 - $249,999
minimum trade size: 10k
max leverage: 1:100
Prime Account
minimum deposit: $250,000
minimum trade size: 10k
max leverage: 1:50
Spread:
Variable, from 1.2 pips
Deposit/Withdraw
Bank Wire, Credit card
Platform:
There are two things that we like the most about MIG Bank: it's a Swiss broker (e.g. super secure), and it sponsors a Formula 1 team. We are all convinced that Michael Schumacher is a terrible human being but he is one heck of a F1 driver and we admire this – so it's kind of cool that he gets to wear the MIG Bank logo on his apparel.
Variable spreads;
Typical spreads: EUR/USD - 2 | GBP/USD - 3 | USD/CHF - 3 | USD/JPY - 2
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Low spreads No commissions
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Spreads widen during volatile market Spreads widen durin Asian session Spreads widen up to 20 pips during news |
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Pros |
Cons |
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No slippage during normal market conditions
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Slippage during news releases
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Pros |
Cons |
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MAX Deviation feature - trader is able to set max market order slippage
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Requotes during volatile markets
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Pros |
Cons |
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No spikes No price manipulation |
N/A
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Pros |
Cons |
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Metatrader 4.0 Very intuitive and easy to handle Decent charts Autotrading Custom indicators Mobile ready |
Some freezes during news releases Trailing stop is server based No Web Platform
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Deposit |
Withdraw |
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Bank Wire |
Bank Wire |
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Pros |
Cons |
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Customer Service reps are alwayws ready to help Phone Request a Call Live Chat |
N/A
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Pros |
Cons |
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Reasonable spreads Metatrader 4.0
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Requotes Not regulated in US No scalping |
Add reviewSetting up an account with MIG is a pain in the a**, but once you managed to do this, you’re in for quite a decent experience – good execution, competitive spreads, high liquidity, lack of slippage and re-quote. MIG has a firm non-scalping policy so if you’re a scalper, this is probably not your broker.
Had a live account for about a week, then closed it. Worst trade execution I have ever experienced. Trades just hang there for 10-20 seconds sometimes before filling. Happens in normal, non-news times. This ultra slow execution didn't happen all the time, but it was slow enough, often enough for me to make a decision quickly to leave.
For perspective, I've also had/have accounts with FxPro, IBFX, Alpari, IKON Royal, FXDD, PFG, MB Trading, FXCM, ATC Brokers. So, I'm not new to this or inexperienced. And like I said, worst execution I've ever experienced.
The low spreads mean nothing if you don't get good execution. And that's the one thing you cannot know before you open a live account. Feel free to try it yourself if you want of course, but you might want to consider what people who've traded live have to say
I'm still trading with this broker and it just needs one more server fail-out (which will come in some hours!), and I'm out from them too!! I'm a professional trader since more than a year and I can say this broker is not usable anymore. I've been very patient and hoping they will correct their server errors, but it does not happen! Or do they switch off their servers? I had a great customer support, but those good people from the customer support are living the company - they know why.
For those scepctical people, I'm not a competitor of them, nor I am a broker. You can write me and come watch me trading.
I'm a professional trader, have traded with MIG for several years, and am finally getting too frustrated with their live servers going down. I consider it unethical behavior to market yourself as a broker if you don't have redundancy and reliability to ensure that your customers can execute trades!
PROS:
Allow American account holders - combined with Swiss secrecy and high standards;
Decent spreads;
Deep liquidity and good execution;
MT4 platform;
Gold and Silver trading;
Swiss regulation (ARIF);
$1.5 rebate per 100,000 RT on Pro accounts;
CONS:
They won't talk to you if you're poor;
Limited number of tradeable instruments;
Accounts not segregated;
No scalping policy;
Quick Facts:
Headquarters in Neuchatel, Switzerland;
Metatrader 4 (MT4) platform;
2 pip variable spreads on EUR/USD (Standard & Pro accounts);
1 pip variable spreads on EUR/USD (Institutional accounts);
Liquidity provided by UBS;
Established in 2003;
I've had 2 demo accounts with MIG, not problems, I've also had 5 demo accounts prior with other brokers, no problems there either. I went Live with MIG 7 Weeks ago and so far no problems, it trades exactly the same as demo. I make between 8-20 trades a day and only one rare occasions perhaps twice have I had re quotes, and these have been in extreme NFP periods. I haven't withdrawn any money yet but I don't expect any issues. There customer services is excellent, they are swiss so I expect absolute integrity.
Well, I am a satisfy customer, tight spreads, good software and first class advice. Swiss company 2000 to start which seems reasonable to me, I started with minilots and now with lots, I fax them, next day money is on the way, quick and efficent answer the phone. Thank you.
Despite the simplicity of the system, the free indicators, etc. there are still some issues that need to be mentioned. One specific problem area for MIG Investments is the number of requotes. Users have complained about having to requote the price several times. MIG blames this on clients attempting to take advantage of a wrong price quote in the Market Watch. Skeptical users believe that if the price is on your side – you get requoted. Between the requote after requote, the delays and disconnects, it becomes difficult to get an honest price when the market is moving and there is some question as to what open position price you are getting, the old or new.
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