Today IBTimesFX could have an interview with Hisham Mansour CEO of MIG Bank.
What is your professional background?
I started my professional career when I was a teenager while I was a student in my native Jordan, where I founded a brokerage company that provided services in trading stocks, commodities, derivatives, currencies and other financial instruments. Those were the days when traders could not envisage online trading, leverage or automated execution in milliseconds. Orders were taken by phone or by fax and it took minutes to execute orders.
After becoming a leader in the Middle East, the next step was to grow globally and to serve international clients. As a result, we have relocated to Switzerland where I founded a Forex brokerage company, MIG Investments, and which later became MIG BANK. I think this was the logical outcome of my background and experience as well as the core values which both of my parents instilled in myself and two of my brothers, namely hard work, reputation & integrity.
You got your Swiss banking license last year, congratulations for that. What are your plans now? Will you offer CFD's again soon?
Thank you! We are proud to be the 1st FX broker to be awarded the Swiss banking license, which is a result of the hard work and professionalism of our team. We will of course expand our product portfolio which will include CFD's and other instruments, nevertheless, we will stay focused on Forex and will continue doing what are best at. Our next goal is to become the world's best online bank, which will be a one stop shop for all online trading, investment and banking operations.
The MIG Bank offers its clients a program library for Automated Trading and even programming services. Can you tell me about that?
We are very happy when our traders are successful and are making money and we do our best to help them to this end. Just as the times of trading by phone or by fax are now in the past, the times of manual trading are also quickly passing by. In the current dynamic market which operates 24/5, automated trading becomes a very important element of success. Not all traders have the necessary skills to automate their trading strategies and we help them in doing this. We have Expert Advisor (EA) programming specialists who program EAs based on our clients preferences and our clients use their EAs in their trading. This is a value added service for our clients and we are proud to be the pioneers in this area.
MIG Bank has relatively high minimum deposits for opening an account. For the Mini Account the trader needs to deposit at least 2,000.00 USD. Does that mean that MIG is looking only for experienced traders or also for beginners?
As you are well aware, we are a Swiss bank regulated by FINMA and we strictly follow all regulations. We do not open accounts based on the online application - we receive contracts and clients' documents by post and conduct due diligence for all of our clients. It is not feasible for us to run this procedure for accounts less than $2,000.
You are based in my country Switzerland. Do you focus on Europe or do you have clients around the world?
We have clients from over 120 countries worldwide and do not focus on Europe or any specific country. We focus on providing our clients with the most competitive conditions and the best services.
MIG Bank are supporting girl's education in Uttar Pradesh (India). What are the reasons for your decision to do that?
At MIG Bank, we believe that social responsibility is part of conducting business and that's why we have taken this initiative in general.
We chose to support this project because of our strong belief in equal opportunities and education for all, especially for children, through providing more chances to succeed in life by equipping them with the basic levels of education. Because of the strong role women traditionally play in the association and reinforcement of the family, the project's particular focus on a girl's education is highly pivotal within their society. Through basic education, these girls will not only be more equipped to overcome their own adversities but when they are adults, they will be able to strengthen the foundation of the family unit for the betterment of their society overall.
How would you say that MIG Bank will change in the next two or three years?
We are committed to become the leader in online trading and the proffered choice for investors worldwide. We will expand our product portfolio. We will also offer new trading tools and services, will grow geographically and will increase our customer base based on our key advantages, those being: the security of a Swiss bank, competitive trading conditions and high quality services.