Transparent dealing model
We know how much our clients value fair dealing. We also understand that the best guarantee of fairness is transparency. Many traders ask themselves the following questions:
- Am I trading at the right price?
- Does my broker slip my order against me to make higher profits?
- Do I get all of the positive slippage I should get (best market price), just some or none at all?
- Am I paying reasonable brokerage fees?
- How much does my broker earn from my trades?
- Does my broker trade against me?
In an effort to provide you with the best and fully transparent FX and CFD trading services in the industry, we are pleased to go the extra mile and to be the 1st Forex and CFDs broker to introduce our revolutionary new Fully Transparent Dealing model.
How does it work?
1) It all starts when you send us your order.
2) We receive your order. In order to ensure that you get the highest possible liquidity and best market prices, we work with a pool of liquidity providers consisting of major prime banks.
These liquidity providers compete to offer us their best prices for your order execution. The prices obtained by us from our liquidity providers are 100% transparent and can be disclosed to you at anytime.
3) Our advanced IT infrastructure and price aggregator system allows us to constantly receive quotes from all of our liquidity providers, instantaneously analyze them and identify the best price available to fill your order.
4) We then add our mark-up and execute your order at best market price in a matter of milliseconds with no dealer or no human involvement.
Depending on your account type, you will have a certain fixed mark-up for each currency pair. Please see our mark-up table for detailed information. This mark up is our mark up which we add on top of the Best Price Available in the market at the time of execution of your order to calculate your fill price. Unlike all other execution methods exercised in the market, we keep our mark-ups fully transparent and apply them to the best market price we receive.
This mark-up represents what we add on top of the best market price obtained for your order. We do not fully profit from this mark-up as we pay fees to our Prime Brokers and Technology Providers. Therefore our mark-up does not represent MIG BANK's proprietary trading profit.
However, with this policy it does not make any difference to you whether MIG BANK is counterparty to your trade or not because you are guaranteed that your order will be executed at the best market price available plus a mark-up that is fully disclosed to you.
Why are our clients sure their orders are executed according to our Transparent dealing policy? MIG BANK is a fully licensed Swiss bank, regulated by FINMA and we have a duty to deliver on our promises. In case of any doubts with regards to fills of any of your orders, we at your request, will provide you with all of the quotes received from our liquidity providers at the time of your order execution, enabling you to see that your order was filled at best price available with our mark-up applied.
As such, we maintain 100% transparency throughout the whole process and guarantee you a fair execution at the best price available in the market. This is why we call it a 100% Transparent Dealing.
However, there are 3 cases, when we will not be able to guarantee the mark-up application:
1) If an order involves a greater number of lots than the limit per automated trade as specified in the Trading Conditions table. Bigger tickets are accepted, but will be processed manually.
2) In case of Automated Trading system failure, whereby all tickets will be processed manually.
3) In case of extreme market conditions, whereby we will have to totally switch to manual execution mode.
This means that over 99% of all trades are automated and our Transparent Dealing policy will be applied. In the other rare cases of manual execution mode our policy remains to provide as fair fills as possible and we separate internally order execution from proprietary trading.
This Transparent Dealing model is fundamental for us as it brings new advantages to our clients and lives up to our primary value in conducting business: "Integrity Comes First".
It guarantees transparency, fairness and ensures your trust and confidence in MIG BANK.
Because Confidence is Capital.
Regulated by the Swiss Financial Market Supervisory Authority (FINMA) | Fed. Reg. No. CH-645-4096536-3
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