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General Information |
| Brokerage name: MG Financial Group
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| Minimum account size: $1000-$2000
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| Base commission rates: < $4
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Brief explanation of margin rates, if applicable:
Margin requirements are the same intra-day and overnight. Acccount under $20,000 have up to 200 to 1 leverage. Accounts between $20,000 and $50,000 have up to 100 to leverage. Leverage decreases with account size.
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| This brokerage has been in business for: 5-10 years
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| Primary type of broker: Futures
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Brief description of services offered:
Online spot foreign exchange market maker in the four major currency pairs. Offers 24-hour commission free trading for accounts over $10,000. Under normal market conditions, trader receive two way quotations with a 5 pip spread.
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Account Information
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Types of trading accounts offered:
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| Customers online account information is updated: Up to the minute
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Types of trades offerered:
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| Other trade types: N/A
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Types of quotes offered to customers:
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Execution methods offered:
| Online Broker(trade desk)
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Broker
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Exchanges covered:
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| Setup or initial costs to set up an account: 0
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Features
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Types of services offered to customers:
| Basic -charts & graphs
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Advanced- charts & graphs (technical indicators, ability to change parameters, etc.)
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Head line news
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Unique proprietary stories and news coverage
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Ways customers can access their trading account:
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| Allow stop, limit, and stop limit orders? Yes
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| Charge extra for stop, limit, and stop limit orders: No
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| Offer 24 hour customer support: No
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| Offer tax planning advice: No
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Additional Comments
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Special features included in the service are:
IBS Trader to Trader Dealing. Java 'Push' Technology. Account Status updated on a tick by tick basis. Charting Application. Intraday ICT News & Analysis.
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This broker's service is better than the competition in these areas:
N/A
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Types of security precautions taken for customers:
Fidelity Bond 14 Insurance protects client's assets from fraud and embezzlement by any members of MG Financial Group.
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Communications during systems failures has been assured through:
Phone Dealing available 24 hours a day during regular trading hours.
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The major plans for upgrading the current level of trading service are as follows:
Launch of Deal Station 2000, set to go live January 30th, 2000 to include Java's newest 'Push' technology and Trader to Trader Dealing.
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