MIGfx Broker Review
Among the many options of Forex Trading service providers one of the good ones is the MIG Investments Broking Corporation. This is a fully regulated Swiss based Broking service, which is affiliated to the MIG Banking Corporation which helps them provide a Secure Trading Environment with proper financial discretion and transparency.
With their MT4 based platform available in 30 languages, the MIGfx broker provides a very friendly guide to allow the brokers to make transactions in the languages they are most comfortable with. The other benefits of this service are that they offer 70 currency pairs for trading, with a leverage of 1:500 for the traders. As far as the spreading goes, the brokers provide as low as 0.5 pips for some of the currency pairs to ensure least spreading.
The service also boasts of very comprehensive reports which get updated in real time and also has the ability to use the real time indicators to use signals. Apart from this, the service also has its own programmable Expert Advisor for trading. While the normal mini account needs at least 2000 dollars to start, there are various other variants and the professional “Prime” accounts need as high as 100,000 dollars as the minimum deposit.
While the system is pretty simple and lucid for the users, this trading corporation also has its own set of pitfalls. The first thing is that the system does not support completely online account opening. It requires hard copies of identity proof and other documents to be scanned and sent to Switzerland which makes the process slow and less internet friendly.
Apart from this, owing to the large number of variations in the number of transactions and fluctuations of prices there are a lot of re-quotes for the people. While the MIGfx helpdesk says that the requiting happens when there is a wrong price quoted in Market Watch, people complain that this invariably happens when price is on their side.
Some users also report a lot of requotes when trading live with MIG, so be careful before you commit too much money with this one.
However, these hiccups apart, the MT4 platform of this broking house is very stable and the customer service provided also lives up to the expectations of the traders. Nevertheless, the starting amount is slightly high as compared to the other solutions available. And yet, to see if this solution is best suited to you or not, MIG Investments provides a 90-day trial demo account where the trader can play with virtual money and get a feel of the service.