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Screenshot of a breaking news alert e-mail from Q2 2017
Leading Switzerland-based retail FX brokerage firm MIG BANK, a member of LeapRate’s Approved List of global Forex firms, announced today that they have opened an office in London, and received an FSA regulatory license for their UK subsidiary MIG Capital (Europe) Ltd.
As Switzerland is not an EU / EEA member, MIG BANK’s status as a fully regulated Swiss bank was irrelevant in licensing it to receive EU clients. (Switzerland is not a party to MiFID, which allows financial firms to be regulated in their home country and passport that regulated status to all other EU / EEA member countries).
Their FSA-regulated status will now allow MIG BANK to take clients both in the UK, and across the EU.
Last month MIG BANK announced the opening of an office in Hong Kong.
For more on the global FX market see the LeapRate Dow Jones Forex Industry Report.