FAQ Account Information
How do I open an account?
Click on the ‘Trading’ link, and then select ‘Open a 30 Day Trading Account’ for a 30-day Demo Trial account.
To open a real Trading Account, click the ‘Trading’ link, then select on the account type you want (Mini, Classic, Advanced or Prime) from the navigation menu, and finally, click the ‘Open an Account Today’ button to open an account using our Online Application.
How long does it take for MIG to set up the account from the date you receive the application?
Individual accounts are usually set up within 2 business days. Corporate accounts take approximately 3 business days.
What is the minimum amount to open an account?
The minimum amount to open a Mini Account is US $ 2,000.
Why do I need to provide you a notarized copy of my passport?
This is a control procedure required by FINMA and Swiss Anti-Money Laundering laws to ensure that the person who wants to open an account is indeed who he or she claims to be.
I don’t have a passport – can I open an account with another document?
Yes, any official piece of identification with photo and signature is acceptable.
Can I withdraw my money whenever I want?
Yes. Just fax us your Fund Withdrawal Request and MIG will wire the funds to your bank account.
Can I transfer funds from my trading account to the trading account of another client?
No, it is forbidden to transfer funds between different clients’ accounts and third parties.
Is it possible to open more than one account?
Yes. You can open several sub accounts within your main account. To open a sub account, simply print and fill the Sub Account Request Form and send it to us by fax or email.
It is possible to have your sub account denominated in a different currency.
Do you manage funds?
MIG provides an execution only online service. We do not offer a managed-account service.
Does MIG BANK pay interest on the outstanding balance of my account?
No, your account does not earn interest. It is a trading account, not a bank account.
Do you charge fees or commissions when opening an account with MIG?
No, MIG does not charge any fees or commission. The client’s only cost is the spread.