MIG is the first Swiss broker to get FINMA's license

Well friends, the unbelievable has happened: FINMA has finally rolled up its sleeves and got to work. As a result, M I G is the first Swiss Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term broker to have been approved by the Swiss regulatory authority and will subsequently change its status to a bank. This will gradually happen to all Swiss Forex brokers, at least these will be approven.

It has taken FINMA A LOT of time to do this - almost a year and as a result all Swiss brokers were in the dark regarding their future. Some brokers have even chosen to move offshore instead of waiting for the regulatory approval.

Anyhow, M I G have scheduled a press conference today (December 10th at 10:00 am Zurich time) where this will be officially announced.

This is the official statement:

Neuchâtel-based Foreign Exchange Broker M I G, is the first currency trading company in Switzerland to be approved by the Federal Financial Market Supervisory Authority (FINMA), thus becoming M I G Bank Ltd.

The press conference will take place today, December 10th at 10:00 am at the:

Park Hyatt Zurich

Ballroom 1

Beethoven-Strasse 21, 8002 Zurich

MIG gets FINMA approval -