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MIG BANK FOREX BROKER FRAUD
By akram bin khalid, 2010-11-24
Dear Sir

I'm a Clint's in MIG BANK in Switzerland under account number 213350 MAM account 213300 and with leverage 1to 200 .MIG BANK make Meany wrong and Bad behavior does not befit the reputation of Swiss banks of ancient and accurately known her dealings and good :

1- MIG BANK close my account by margin call while I make full hedging on my all positions antel 7 of Oct 2010 but in 7 of Oct 2010 when I have around 17564 $ as equity and free margin and i opened 3 positions only everyone with 0.2 lots with total margin requirements 2290.93$ that's where AUD/USD and USD /CHF and USD /JPY has not registered any loss remember in the margin call time from other side it was protected by stop-loss order and take profits during the margin call time, from other side when MIG BANK close the positions and they make my equity (-14427$) and this act is contrary to the laws of banking and margin because they braek the security cost of the margin 0.5% and they must return my margin requirements if there system was correct for assumption.

2-MIG BANK did not return my commission 20 $ per lot total 30260 $ as we agreed with each other through the documents that were sent from them and through phone calls .

3- MIG BANK made my account as swap account and calculate it but we agree and confirm that my account must be with free swap - free interest account or Islamic account and I send them all document by DHL and by fax and by email but they But they dealt neglect this aspect.

4-MIG BANK , after I Sent to them all the contracts and documents by DHL they have not signed and sent to me so far as they promised.

I try with them to return my money but they were manipulating the crooked ways by sending details of the operations that were shut down and as if they do not know the market system which is hurtful to see that this is fraud and deception and procrastination, and your will show all details and in formations in this complaint and you will note that manipulation of the MIG Bank, which is as follows:
1 - they does not recognize margin requirements and wants to make it zero for all open positions on the basis that there full hedge while the claims of fraud, and embezzlement because the margin requirements value as you know must be returned to after the close of hedging to the account of the investor and the positions were suspended from the first returned value of the margin account to the client but MIG BANK want to embezzlement and theft of the value of the margin requirement .

2- regarding the commission 32260 $ they did not recognize on it while they but my account on MAM platform while all individual Clint's trade on MT4 platform and they sent me the documents of the commission and they promised me to add it to my accounts monthly by there phone call through nidhal abdulhadi and dina sharaiha and they absolve themselves of that agreement but installed them through those recordings, email and MAM platform It would not have admitted under my MAM accounts.

3- Regarding the margin call:
From daily statement you will note following details:
In 6 Oct 2010 the financial bar was:
Balance 138003$ equity 17564 $ free margin17564$ swap 2569.0 floating P/L-117896$
Margin requirement 102987.75$

In 7 Oct 2010 the financial bar changes to the following details:
Balance 138003$ equity 14427$ free margin14427$ swap 2569.05
floating P/L-149861$
You will show that difference between total statement of 6 Oct total
(-117869.77) $ and statement of 7 Oct total (-149861.06) $ on same open positions which are under full hedge and there are difference value 31992$ without justification

Margin requirement for 2 lots audusd and 2lots usdchf and 2 lots usdjpy 2290.93$

2290.93$ + 102987.75$ = 105987.86$ total margin requirement to 7 Oct 2010

Regarding swap I don't admitted in, but when they add it on the total loss they make it from reasons to margin call,

In general if that there was an initial positions has been surrounded by a full hedge position, the value of the loss and gain remains constant but with MIG BANK on my account there was fraud and theft by manipulation and you will show that difference between total statement of 6 Oct total (-117869.77) $ and statement of 7 Oct total (-149861.06) $ on same open positions which are under full hedge and there are difference value 31992$ happening in the total of tow statement in one nights only but if you calculated you will get big theft result its 38953$ how it's happen and way they do that with me??!!This amount, which created it, without justification, to be a tool for fraud and theft on Oct. 7 did not exist on Oct. 6, although the positions itself has not changed ,
For that I need to return my fund as following:
Margin requirement 105978.68$ + 14427$ for equity+30260$ commission
=150665.75$ total

best regards
akram bin khalid
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