Anyone used MIG Investments?

Hello All,

Has anyone out there used MIG Investments. If you have, how would you rate them?

Hello oliverpip,

I just opened a new MIG trading account with the $5K minimum required to open an account with this Swiss brokerage.

Identification and paperwork does need to be notarized and sent to them so this does require some additional expense to open an account.

Took us about a week to get the account opened and funded.

We love trading with MIG for the nice spreads this Swiss Brokerage offers, good execution of trades and customer support has been helpful when we call.

So far so good, no complaints here... and we also have our referring broker to earn us extra rebate dollars each month just for trading... win, lose or break even...

Colleen

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.

No offense, but the glowing report from the previous poster sounds a little suspicious to me. Who is "we" anyway? Maybe not, but that's my 2 cents for what it's worth...

Best wishes.

P.S. "Last edited by oliverpip, Oct 27, 2009 3:21pm Reason: Have seen other threads answering my question. Sounds like they're cr*p."

Hehe, nice to see you're doing your homework

P.P.S. Yep, previous poster is an Introducing Broker for MIG. Click on her name and read her info; at least she's being honest. But you should always disregard reviews from an IB.

Thx for info mate

I have been trading with them for almost 3 years. They are pretty good if you are not a scalper nor News trader. I just countered one single problem with them which was a slippage issue during news time trading, otherwise they play fair game with me. Their customer service is good.


BK

Thanks for the replies everyone. I'll give MIG a miss and stick with my current broker.

I have been with MIG for a long time and I must say that before they get their banking license things went well for me.

However, since the beginning of this year I have noticed frequent multiple requotes on executions. Furthermore, I used to like their fixed spreads but they have now changed it to variable spreads. Poor executions and variable spreads combined, they are not different from any other 3 stars broker imo. But I can still take it until...

Few nights ago, 2 friends and I were trading together in my office, all with MIG accounts. One of my friend enter a LONG position in EU while the rest of us stayed on the sidelines. Guess what happen?

When EU rised by 15 pips in both of our accounts where no trades were in placed... but for the guy who was in a LONG position, his price was not rising!!! and there was a 10 pips difference between us - same broker!! If you think it was a connection problem, I have doubled check his tick chart and the chart was ticking and connection was ok!

The difference reconciled itself after approximately 2 minutes.

I really couldn't believe this until I saw it with my own eyes! Scary huh? I'm now switching it to an ECN broker... I'd never give these market makers anymore chances.

Rergards,
baronfei

PS. My friend only entered 0.1 LOT on a standard account... GOD knows what they will do when you are playing with 20 LOTS.

what do you think about mig right now since your this post i would like to knew cause i'm thinking to deal with them please any advise will help

i was thinking to open real account with mig till i read your post so please which broker you advise me i'll be very thankful

Kind of depends what it is you're looking for (low minimum deposit? ability to trade micro lots? based in a certain country? etc.) If you want an MT4 broker, a decent market maker is FXDD, good ECN brokers are MB Trading, PFG Best, and ATC Brokers. I have/have had accounts with all of them.

Those are all US based brokers, but FxPro might be a decent option if you want a non-US MT4 broker (they are in Cyprus and a market maker). I did have an account there once, and would say they are fair; not great, but not horrible either.

Another you might look into is Dukascopy (Switzerland). I haven't traded there, but would not have a problem going there based on what I know of them...