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Overview

Swiss FX is a Russian introducing broker, which allows traders to become clients of the Swiss Mig Bank. Since Swiss banks are known all over the world for their impeccable service, not all individuals can become their clients. To open a trading account in Swiss FX, which will automatically be redirected to the Mig Bank, it is necessary to submit an application, and then sign a paper contract in the office of the broker or notarize it, and send by mail.

Novice traders have the opportunity to be trained for free on the basis of materials about the currency market, published on the site of Swiss FX.

Swiss FX offers several types of accounts and the well-known trading platforms MT 4 and MT 5 for operations on the foreign exchange market.

Customers who have opened trading accounts with large deposits receive special service conditions, such as decreased spreads, commission fees and provision of them with personal managers and financial analysts, who will advise them concerning all their questions at any time.

Bonuses

Due to the fact that Swiss FX is an official introducing broker of the Mig Bank in Russia, it is willing to offer traders a contest on demo accounts, which is held by the Swiss bank.

The contest on demo accounts is held for two weeks. Participants may trade currency pairs during the contest by any available method, including proven trading strategies, automated trading using Forex expert advisors, as well as scalping and hedging. The main goal of the contest is to earn the highest profit. At the end of the contest traders who have received the highest profits are revealed, and three leaders will be awarded with cash prizes and valuable gifts.

Awards for prize-winners of the contest:

- the 1st place - iPad and Forex bonus in the amount of 1,000 dollars

- the 2nd place - mini iPad and Forex bonus in the amount of 300 dollars

- the 3rd place - mini iPad and Forex bonus in the amount of 200 dollars.

Broker does not organize other promotions and contests. It does not provide clients with deposit Forex bonuses.

Training

Materials that allow novice traders to study the basics of speculative trading on the highly liquid Forex market are published on the official website of Swiss FX.

1. Familiarization with the international Forex market:

- how to determine foreign exchange rates

- system of foreign exchange rates (fixed and floating)

- who trades on the foreign exchange market

- OTC market

- what is spread

- existing types of trading (spread betting, forwards and futures spot market, options)

- what is leverage

- currency market liquidity

- commission fee in trading currency pairs.

2. Technical analysis:

- what is technical analysis

- Japanese candlesticks

- bars

- line charts

- support and resistance

- Forex indicators that determine trends

- moving averages

- double top

- triple top.

3. Fundamental analysis:

- what are the components of fundamental analysis

- Industrial Product Price Index

- Producer Price Index

- Construction Price Index

- monthly report on the labor force

- GDP (Gross Domestic Product)

- orders on durable goods

- Consumer Price Index

- trading balance.

4. Calculation of gains and losses on the foreign exchange market (real examples).

5. Forex terminology.

Swiss FX offers all clients to use free demo accounts. Demo accounts are suitable for all novice traders to study Forex trading. It allows clients to trade on Forex using real foreign exchange rates, but with virtual money, which protects personal funds of the customers from losses. Demo accounts are also designed to test trading strategies, new expert advisors and Forex indicators. It is possible to open a demo account on one of the selected trading platforms: Meta Trader 4 and Meta Trader 5.

Terms of trading

Swiss FX offers the following trading conditions for traders:

- the foreign currency account (the base currency)

- the minimum deposit is $2,000

- the leverage is up to 1:200

- a lot of currency pairs, gold, silver

- spread is over 1 point

- no requotes

- no slippages

- hedging is available.

MIG Trading Station (analogue of MetaTrader 4)

- multi-language support

- order execution - Instant Execution

- embedded Forex indicators

- addition of new technical indicators

- development and installation of new Forex expert advisors MetaQuotes Language 4

- in-depth technical analysis from Capital Management

- export and import of quotes

- chart printing.

MIG Multi Terminal

- multi-language support

- all features of Meta Trader 4

- management of several trading accounts simultaneously.

MetaTrader 5

- multi-language support

- order execution - Instant Execution

- embedded Forex indicators

- creation of traders' own Forex expert advisors using MetaQuotes Language 5

- export and import of currency quotes

- chart printing.

Trading accounts can be opened only after visiting the office of Swiss FX and downloading a sample of the contract in Russian or English. Then it is necessary to fill it in, notarize it and send it by mail to the address: Russia, 129366, Moscow, Yaroslavl str. 13A, 2nd floor, office of JSC Digital Network. Copies and faxes will not be accepted.

As soon as a contract is signed, a new client can open one of the three available accounts:

- Standard

- Professional

- Institutional.

Trading account Standard:

- the minimum deposit is $2,000

- the leverage is up to 1:200

- speads on major currency pairs are over 2 points

- professional set of tools for analysis of the currency market

- aggressive spreads on 34 currency pairs.

Trading account Professional:

- the minimum deposit is $100,000

- the leverage is up to 1:100

- aggressive spreads are over 2 points

- professional set of tools for analysis of the foreign exchange market

- discount on a commission fee for a closed lot is $1.5

- free creation of Forex expert advisors

- Forex bonus of $15 for transaction in $1,000,000

- high-quality support of the Mig Bank dealers.

Trading account Institutional:

- large-scale deposits

- the leverage is up to 1:100

- spreads are over 1 point

- professional set of tools for analysis of the foreign exchange market

- free creation of Forex expert advisors

- high-quality support of Mig Bank dealers

- direct access to the Analytical Department of the Mig Bank.

Forex indicators (recommended)

- Hull Moving Average

- Schaff Trend Cycle

- Range Rider

- Fisher

- Anchored Momentum.

Forex expert advisors (recommended)

- FX Lightning (an automated Forex expert advisor that is developed for the efficient scalping, since it has a large number of various tools for analysis of the currency market and profitable trading)

- BasketFX (an automated Forex expert advisor that shows stable good results in trading various currency pairs, since it uses accurate mathematical analysis, which allows opening and closing positions despite the market volatility and trend directions)

- Otkat (an automated Forex expert advisor that shows profitable trading on foreign exchange bands, skillfully determining and opening them, and then it closes positions at their boundaries).

Investments

The introducing broker Swiss FX and the MIG BANK don't provide a direct investment of funds in PAMM-accounts. Customers of the broker can use joint accounts for investment, i.e. several traders, who are indicated in the contract signed while registering with a broker, have access to them. In this case, the responsibility lies only with the owners of joint accounts. Funds can also be transferred to the management using multiple accounts, but the responsibility lies with the manager of accounts and the investor, and the broker does not bear any responsibility for obligations taken by the parties.

Unique features

Forex expert advisors, i.e. their creation by the professional analysts of the company, can be mentioned among unique opportunities, provided by the Mig Bank through the introducing broker Swiss FX. Forex advisors are created on the fee-based basis taking into consideration the requirements, offered by the client. After creating and testing a new expert advisor, the employees of the broker install it on the client's platform, and then undertake a full service including reconfiguration and control of its correctness, which largely influence gains and losses of the trader.

Add/withdraw funds

Swiss FX offers its clients to fund the accounts using MasterCard and Visa or bank transfers.

Contacts

Swiss FX provides all customers with the complete support via e-mail [email protected], by phone + 7-916-382-58-59 and through the feedback form, located on the official website of the broker.

Cons and pros

+ official introducing broker of the Swiss Bank

+ small spread

+ good leverage

+ the minimum deposit is $2,000

- no Forex deposit bonuses

- few ways to deposit trading accounts

- complicated registration that requires signing paper contracts.

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