Is there anybody here who is familiar with MIG FX? Is it a good choice? Does it make sense to invest in Switzerland? Is it safe?
Thanks in advance
Thanks in advance
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DislikedIs there anybody here who is familiar with MIG FX? Is it a good choice? Does it make sense to invest in Switzerland? Is it safe?
Thanks in advanceIgnored
Dislikeddepends what you're doing with it - best advice is to keep as little as you can with any broker and just make sure you can transfer fast if you need to. ramp up the leverage.
I know one person who adds daily if she needs to but keeps the balance low. problem is of course the wire transfer fees can add up.
I'm with MIG and they are good, just call and ask for Olivier if you need anything and tell him i sent ya
I have many client accounts with Mig and my experience is good.
Hope this helpsIgnored
DislikedIs anyone here experiencing a problem with MIG's swap rates. For example, at the moment they are charging negative swap on EUR/CHF Long positions.
Could be in trouble, funding problems due to tight credit?Ignored
DislikedI'm not with MIG, but negative swaps are common now in this market environment. One day I was long EU and got a positve swap, then the very next day I was still long but had a negative swap. When I asked about it (from Hotpsot, an ECN), they explained it was due to the banks responding to the market upheavals going on (this was the week of Lehman's bankruptcy).
So, you will probably find this to some degree at any broker until things begin to settle down a bit in the markets...you could ask them about it and they may have something else to say, but just telling you I experienced this with another broker, and have heard others saying the same thing too.Ignored
DislikedHi TC East-
Of course what you say is true but MIG’s stated policy is to set swap rate using changes in the interbank rate. They went to negative swap on Longs EUR/CHF around the 30th Sept when the interbank rate spiked up but since then there has been a big drop in the interbank rate.
MIG now are just ignoring that drop back so they can keep charging their clients the negative swap which is not good at all.Ignored
DislikedHi Richard...sure, I understand, but I'm just saying it's the case with probably all brokers right now, not just MIG. I heard that Hotspot, FXDD, IBFX, and FXCM are all doing the same thing as well, so it's more of a general issue than broker specific I'd say...Ignored