MG Financial Forex Trading

MG Financial is a pioneer and innovator in the retail foreign exchange industry. Founded in 1992 with headquarters located in New York, MG has long established itself as a premier provider of online trading services in the foreign exchange market. Registered as a Futures Commission Merchant with the Commodity Futures Trading Commission (CFTC) and being a member of the National Futures Association (NFA), MG Financial Group is committed to meeting the highest industry standards while serving its clients with the most comprehensive trading tools.

Resgulated:

NFA, CFTC

Languages:

English, Russian, Chinese (Cantonese, Mandarin), Arabic, Spanish

Advantages:

1. Commission-free trading *

2. Transparent and accurate pricing **

3. Competitive and fixed Spreads

4. Flexible leverage up to 100:1 to accommodate your trading style.***

5. Adjustable unit sizes with FlexiTrading enable you to trade both full and fractional units from the same platform

6. Deposits, withdrawals and balance conversions in USD, EUR, GBP, AUD, CAD, CHF, and JPY

7. Mobile (cell phone and PDA) trading and a foreign exchange alert service

8. Custom Charts and Real-Time News from Dow Jones Newswires

9. Forex Demo Contest

10. Professional and easy to use trading platform

* MG is compensated by the "spread"

** Spread Fixed Under Normal Market Conditions

*** Higher leverage increases the risk of loss

Disadvantages:

1. No MetaTrader 4 software support

2. Withdrawals also require paperwork.

3. Only 1 free withdrawal a month, then $15 for each additional request.

4. The "free" wire transfer will cost $25 for USD accounts, and $35 for EUR, JPY, GBP, These are bank charges.

AUD and CAD accounts.

5. No indices, derivatives, precious metals, oil or hedging

6. No separate mini and standard accounts. But clients can trade both fractional and standard size units from the same platform

Additional Services:

Trailing Stop, one click trading (for the platform)

Leverage:

1:100

Spread Type:

Fixed

Avgerage PIP Spread:

3-5

Forex Commission:

$0.00

Account Size Min:

$500

Account Size Max:

Unlimited

Account Size Max:

$10,000

Traded Currencies Pairs Total:

Traded Currencies Pairs:

EUR/USD, USD/JPY, GBP/USD, USD/CHF, AUD/USD, USD/CAD, AUD/JPY, EUR/JPY, GBP/JPY, EUR/GBP

Base Currencies Total:

Base Currencies:

USD Dollar, EURO, GBP British Pound, Japanese Yen, Swiss Franc, Australian Dollar, Canadian Dollar

Introductory Offer:

Credit for wire transfer. Waives service fees.

Setup Duration Costs:

Application can be approved within 24 hours and we will send a client our deposit instructions so the account can be funded and opened

Funding Methods Costs:

Wire Transfer, Checks, Debit/Credit Card, Pay Pal, Bank Drafts and Cashers Checks.

Mini Account:

Mini Account_Description:

Mini Account_Min:

Mini Account_Max:

Unlimited

Mini Account_Trade_Min:

Demo Account:

Yes

Demo Account Description:

Unlimited demo-account offering integrated Charts and complimentary free 30-day access to Dow Jones News and separate Charts and News Package.

Introductory Offer:

Credit for wire transfer. Waives service fees.

Platform Name:

DealStationFX

Platform Description:

DealStationFX is fully integrated with the most important trader-centric features for faster execution, better decision making, and the highest degree of convenience. Offering flexibility, customizability, and streamlined order management combined with integrated fundamental and technical analysis and ease of use, the platform allows traders to adapt the platform layout to suit their preferences while customizing orders characteristics to meet their trading needs. Clients are able to trade directly from charts, rapidly place orders by using the "One-Click" option, enhance their technical analysis by integrating key fundamental figures as well as Dow Jones news into the charts, and much more.

MG's new DealStationFX can be viewed in different languages: English, Chinese, Russian, and Spanish with more languages being currently implemented.

Software Requirements:

Operating Systems: MAC, Windows, Vista supported. Software: Java

Training Facilities:

DealStation User Guide, personalized walk throughs, and 24 hour Live Support Customer Service

Accepts US Customers:

Yes

Interest On Balance:

Isamic Swap Free:

Yes

Automated Trading:

Trading Hours 24:

Yes

Live Chat Support:

Yes

Mobile Trading:

Yes

Mobile Alerts:

Yes

FX Forwards:

FX Options:

Live Stream:

Yes

Free Phone:

Yes

API Access:

Discretionary Management:

Dedicated Account Handler:

Yes

Market Maker:

Yes

Direct Market Access:

Stop and Limited Orders:

Yes

Guaranteed Stop Orders:

Contingent Orders:

Yes

Trailing Stops:

Yes

Scalping:

Yes

Hedging:

Yes

CFD Trading:

Spread Betting:

Futures Trading:

Share Dealing:

IMT Quote Engine