MIG BANK, the first Forex broker to have obtained a Swiss banking license in December 2009, has announced today it has been granted the Securities Dealer License by the FINMA, the Swiss Financial Market Regulatory Authority.
MIG BANK, the first Forex broker to have obtained a Swiss banking license in December 2009, has announced today it has been granted the Securities Dealer License by the FINMA, the Swiss Financial Market Regulatory Authority. Since its foundation in 2003, MIG BANK has been offering online Forex trading services to private and institutional clients and has become, within a short period, one of the global leaders in the area of online Forex trading.
Swiss financial institutions are required to have the Securities Dealer License in order to offer securities trading facilities other than FX, and this license now allows MIG BANK to expand its products portfolio and increase and diversify its trading volumes and revenues to products such as commodities, indices, options, futures, bonds and equities.
“Obtaining the Securities Dealer License is an additional reward and recognition of the work and investments we have done at MIG BANK to become one the worldwide leaders in Forex trading. Our next objective is to become also a leader in online trading in all asset classes. For that purpose we are now planning to expand our activities in Switzerland and abroad. The Securities Dealer License came at the right time as we are ready to expand our product portfolio,” says MIG BANK CEO Hisham Mansour.
“The Securities Dealer License required some new resources and further enhancements in terms of processes and controls to enable the Bank to handle securities trading. We have delivered on the requirements and we are pleased of this outcome and ready to continue to develop the Bank as a global player,” adds Regis Ducrey, COO/CFO of MIG BANK.
About MIG BANK
Established in Neuchâtel in 2003 under the name MIG Investments SA, MIG BANK is among the leaders in on-line trading, offering competitive Forex products to private, professional and institutional clients. Combining the rigor and security of a Swiss bank with the dynamism and responsiveness associated with a Forex broker, MIG has grown strongly in recent years. In December 2009, MIG BANK was the first Forex broker to obtain a Swiss banking licence. It currently employs more than 100 people to serve clients from over 120 countries.
Thanks to high-calibre specialists, a high-powered research department and an efficient and user-friendly trading platform, MIG BANK has been able to adapt to the changes in the financial environment, to the constraints of the financial crisis and to the increased demands of its clients. One of the differentiating features of MIG BANK is that it provides the best trading conditions in a market that attracts large numbers of clients and allows for large volumes to be handled.
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