Mig now has 70 tradeable pairs

a few hours ago, from my demo Mig inbox, i got this:

"We are pleased to bring you an additional 38 new currency pairs to trade. You can now choose from a total of 70 Majors, Crosses and Exotics on a totally revised list of competitive spreads."
check them out


(NOTE: be sure to choose "show all" in Marketwatch: i.e. in Marketwatch, right click then choose "Show All")

"We are pleased to bring you an additional 38 new currency pairs to trade. You can now choose from a total of 70 Majors, Crosses and Exotics on a totally revised list of competitive spreads."

They also increase the spread from 2 to 5 on limit and stop order on some of the major pairs. Total B.S.

Gee! - 38 New Pairs that I can be REQUOTED TO DEATH ON!! - Ummmmm... No Thnx!!!

yxy,
really? probably due to the recent market volatility


Fulltime247,
did u have them once as your live broker?



if these were true, then i'll probably stay w/ them on my demo

Nah, I ALMOST did though. I did quite a bit of research on them and they are one of the WORST requote offenders (Alpari is trying to beat them for the title). A casual search on FF will reveal the ugly truth.

I did have a live account with MIG (for about 2 weeks), and can confirm these comments are true. MIG looks great on paper, but they have the worst execution of any broker I've ever had experience with.

Requotes? It can take up to a minute sometimes just to GET a requote; the order box just hangs there on the screen forever while the price moves.

MIG has a good marketing department. They have a glitzy website, and know how to "press all the buttons" to entice traders (especially new ones) to sign up, but I'd stay away. My 2 cents

Fulltime247, TC East,
i have never considered transferring to MiG or having it as my 2nd broker. nevertheless, thanks for your insights..

And now they are trying to monitise their research service....

WOW im thrilled!!


so now, they have 70 more ways to milk money?

cliffedwards,
this is sad, as i have been reading it for several months & it helps a bit.. too bad.



ragnakore,
LOL

Don't know how you are trading but I have used MIG for 2 years now and have never had a requote, all of my entry/exit orders have been filled and I have never had any problems. From my experience of several brokers, MIG provide good spread and reliability. You should maybe question your internet connection or trading methods, are you scallping a one minute chart at news time or something?

Additionally, the research team of Paul Day and Richard Morrish are second to none, a novice trader could even make a profit just by following their analysis. They wouldn't need to waste their time ploughing through all the complicated systems on this site.

Anyway, perhaps you should give MIG more of a chance, they are not that bad.

P.S - Fulltime247... I would suspect the "ugly truth of your casual search of FF" on forex brokers is largley made up of people who trade mini accounts and demos. As far as I can make out from a "casual search" of FF their are very few that actually trade on real live accounts.

Foggytrader

Hmmm...interesting comments, and I think quite rare re. MIG. Quite honestly, my first thought was that you are either an employee of MIG, or some kind of shill. Never a requote? Not ever in 2 years? Not even once? Sorry brah, but I just don't believe you. If I'm wrong, then my apologies, but that is the initial impression I have.

Maybe it's the case that you've never had a requote in 2 years, and I had about 20 in 2 weeks, but what are the odds of that happening by chance? My internet connection is fine. I have had experience with several platforms including Currenex, MT4, MB Trading, FXCM, etc. Never had an internet an issue, so that's definitely not it.

As for the kind of trading I was doing, no I wasn't scalping around the news. How about just regular old orders, then clicking "close", and waiting 30-60 seconds just to get a requote? A REQUOTE after 30 seconds mind you, not an order fill.

Anyway, apparently you love MIG and that's fine; it's a free country as they say (at least here). But to me, they were lousy, and I think deceptive in how they glitz up their website and marketing materials, advertise low spreads, then when you actually go live with them they give you a crappy trading environment. So, I've made a point of sharing my negative experience openly. No hidden agenda here; I am anti-MIG.

For what it's worth...

I often think it a pity that on the members index a field is not highlighted that allows users of any particular broker to establish a "sub-set" that can exchange experiences with each other. Obviously verification of ownership of a live account is essential to avoid spammers. Something maybe FF management might give some thought to.

Ive recommended MIG for some years to friends. There are MANY things I DONT like about them...spreads .."daily system updates" ..their very narrow instrument base.. and their ultimate stupidity of canvassing their customers with links to their expenditures on advertising and F1 sponsorship. Are they SO STUPID that they dont realise that their customers would be better pleased if that money had been ploughed back into tighter spreads, and a better service? Really BAD marketing.

But an earlier subscriber mentioned KEY contributions they make to their customers.. that of Paul Day and Richard Morrish for example. Big plusses for me. But last year of course again some smart ass marketing consultant suggested to monatise this and create MIG Research.
Sad short term thinking by MIG management..

Now I notice a new kid in the MIG setup has broken the mold. A guy called Howard Friend. chief trading strategist. A TRADER. A guy who CALLS. Not an analysist who like some kind of solicitor says.. "on the one hand..and on the otherhand.." His performance in last month or two has been stellar. I dont expect it to last.. NO DISRESPECT to him.. just markets have been giving stellar results to pple calling the right directions in the last month. And he has. But our wider analysis of his calls suggest to me at least, that hes a very very talented guy. (I hope he can adapt to ranging consolidating markets as well as hes recently exploited trending ones. LoL)

The BIG test of MIG management is whether they recognise how much value this new "kid" has to add to the MIG product .. Fx brokerage.. or whether some bright spark MBA on their management team will either try to smother his contribution particularly if he has a bad run.. (happens to all REAL traders) or worse, try to quickly spin off and monatise his undoubted talents..
The ultimate crap will be if this guy continues to shine.. and inspire MIG customers..that the old corporate jelousy game will begin and he will be shafted by the less talented but more corporately poltically astute.

Aagh. Im way out of order in commenting like this. Truth is Ive NO inside knowledge of MIGs operations Ive NO commercial interest in them, or otherwise..but its an enevitble industry development pattern Ive seen too much of in 20 years of corporate consultancy not to be extreemly cynical.
All my analysis has been from the outside.

Ill be watching MIG carefully over the next few months on behalf of the many colleagues Ive directed to their service in the last years... (No Im NOT an introducing broker or have any financial interest in their success) and if they dont migrate from the dealing desk, "profit from customers loss" model..and phase into STP (they are being MURDERED by DUKASCOPY).. and show real committment to provide the real services their retail customers need to survive.. like the HF contribution.. Both I and many of my friends will be not be doing business in Neuchatel any more....Genevas a lot closer and easier to get to...LoL

Richard Morrish left MIG last November unfortunately.
Period of good service in MIG passed away also. It was just a "moment".
Last day and this night were absolutely awful. Service was interrupted three times exactly at the time when important news was issued.
So, not each paillette is gold.

I post here on behalf of a number of friends who trade with MIG..and to report that in the last month we have continued to experiece and measure an increase in spreads, and a deterioration in execution. As Ive said above the transition from 4 to 5 digit quotes seems to have been an excuse for creeping up the spreads. Their feed continues to be unrelaible, and they interrupt quotes whenever a rapid move is afoot. These thing are the behaviour of a bucketshop, though I would hesitate to call them that. Anyway nothing has changed in the last month.. in any of these areas. Everyone Ive spoken with is disappointed because MIG have taken no steps to clean up their act. Sad for a company that for most have been both reliable and competitive in previous years. When Dukascopy gets its bank licence..I think a lot will leave.
On a positive note..the contribution of their new strategist chap . whos publishes calls directly to platform (Live only) continues to excel. I already have a Dukas account but Ill be keeping the Mig one for as long as this support continues. LoL.

i will wait until duckascopy get there bank license before i open an account with them, look like there having a little problem getting it.