HOURS OF OPERATION
Trading Hours
Spot Currencies: From Sunday 23:00 CET through Friday 23:00CET.
Bullion Trading: From Sunday 23:59 CET through Friday 22:59 CET.
Dealing Room
Call us direct: + 41 32 722 81 53
Operating hours: 24 hours/day, from Sunday 23:00 CET through Friday 23:00 CET.
Minimum trade size by phone: 10 Lots (i.e. 1,000,000 of the base currency).
For security purposes, clients need to supply their password to the dealing room officer prior to placing a phone order.
In the rare case of a system failure or downtime, clients can trade via phone with no minimum conditions.
MARGIN POLICY
Standard Accounts
For accounts of up to 25'000 USD:
- 200:1 margin
- Initial margin (to open new positions) of 0.5%
- No intraday maintenance margin
- Margin (0.5%)must be maintained overnight and before market closure (weekends and holidays)
For accounts of up to 100'000 USD:
- 100:1 margin
- For accounts with amounts of up to 100,000 USD
- Initial margin (to open new positions) of 1%
- No intraday maintenance margin
- Margin (1%) must be maintained overnight and before market closure (weekends and holidays)
Professional Accounts
- Initial margin (to open new positions) of 1.5%
- No intraday maintenance margin
- Margin (1.5%)must be maintained overnight and before market closure (weekends and holidays)
For Institutional Accounts
- The minimum margin for Institutional Accounts varies depending on account size and amounts traded, and starts from 2%*. *To be agreed individually for each account
- Initial margin (to open new positions) from 2%
- Intraday maintenance margin of 1%
- Overnight maintenance margin and before market closure (weekends and holidays) from 2%
For Gold & Silver
- Margin requirements for Gold & Silver are double those of Spot Currency trading.
- For Standard accounts the margin is 100:1, and for Professional Accounts, the margin is 50:1.
- For Institutional Accounts, a daily margin must be maintained. The minimum margin varies depending on account size and amounts traded, and starts from 50:1.
Failing To Meet Margin Level Requirements
Accounts that fail to meet their margin requirements will be asked to close part or all of their positions. Accounts that fail to close necessary positions to meet MIG BANK’s margin requirements risk having part or all of their positions closed by MIG BANK.
Margin Requirements Chart
STREAMLINE DEALING
Clients can buy and sell directly on real-time prices without a request for quote (RFQ).
Clients taking advantage of wrong price quotes in the Market Watch will be requoted.
Every effort is taken to ensure correct pricing at all times. However, there are rare circumstances when wrong prices may occur.
STOP ORDER EXECUTION
Volatile market conditions can result in prices gapping, which may prevent the execution of stop orders (sell stop, buy stop, stop loss) at the price that was initially requested. However, our dealers strive to execute all stop orders at the requested price, or failing that, at the best attainable rate the market allows.
MINI LOT TRADING
Standard and Professional Account holders can trade mini-lots (0.1 lot or 10K of the base currency). Clients trade on our normal spreads when trading mini-lots.
MICRO STEP LOT TRADING
Step lot trading begins at 0.1 lot and permits increments of 0.1, 0.11, 0.12, etc. and is available to Standard and Professional account holders.
MULTI CURRENCY DENOMINATION
Clients can have their account denominated in USD, EUR, GBP, JPY, CHF, AUD or CAD.
