MIG INVESTMENTS SA
TRADING CONDITION MIG is specialized in dealing Forex and Bullion. Our clients can trade 25 currency pairs plus spot Gold and Silver.
Our state of the art online trading system, the 'MIG Trading Station' allows our clients to trade live streaming prices without a request for quote. This makes trading faster and more efficient.
The dealing room operates 24 hours a day from Sunday 23:00 CET until Friday 23.00 CET.
The minimum amount to open an account is $2,000 US.
SWAPS:
The rates featured in the list above are the interest rates that are used to calculate the swap for all overnight positions. In order to calculate the swap, the interest rate of the pair in question is multiplied by the pip value of the pair, by the number of lots and by the number of lots the position is held. In short, swaps are calculated on the basis of the following formula:
swap rate (short % or long %) x pip value x number of lots x number of days
To calculate the swap, one must therefore know the swap/interest rate and the pip value in question. For some pairs the pip value is fixed, for others it fluctuates.
Swaps are applied at 0:00 CET. If you don't want swaps to apply to your positions you should close them before midnight CET.
Important notice:
When calculating the swap, the value date is always counting two bank days later. Therefore, if you open your position on Monday and keep it until Tuesday, it will count as if you opened it on Wednesday and kept it until Thursday, in other words 1 day later. However, if you open the position on Wednesday and keep it until Thursday, it will count as if you opened it on Friday and kept it until Monday, in other words 3 days later. Therefore, triple swaps apply to positions kept overnight on Wednesdays! On all other days a single swap applies, including positions held from Friday to Monday.
STREAMLINE DEALING
MIG Investments provides streamline dealing, which means that our clients buy and sell directly on real time prices without a request for a quote. Please be aware that requotes do take place, but only when clients are trying to take advantage of a wrong price quotes in the Market Watch. We do our best to ensure correct prices at all times and hence avoid requotes, however it can still occur.
STOP ORDERS EXECUTION
Our dealingroom always tries to execute stop orders (sell stop, buy stop, stop loss) at the indicated price, however under certain market conditions known as market gaps, it may be impossible and you may be filled at a different price than initially requested. Our dealers always try to fill you at the best attainable price.
TRADING HOURS:
• Spot Currencies
From Sunday at 23:00 CET to Friday at 23:00.
• Spot Gold
Opens Monday at 01:00 CET and closes Friday at 22:30 CET. Daily close from 14:00 to 14:20 CET and from 19:30 to 20:00 CET.
• Spot Silver
Opens Monday at 01:00 CET and closes Friday at 22:30 CET. Daily close from 14:00 to 14:25 CET and from 19:25 to 20:00 CET.
