As part of the enhanced customer experience, Mitrade hopes to provide customers with a more cost-effective trading service. Mitrade is committed to being transparent with no hidden charges or fees. Your cost of trading will be the spread and any potential overnight funding fees.
Mitrade uses the buy-sell spread as a service charge. This part of the cost is already reflected in the product quotation, and once you set up the position, the difference has actually been paid. Since the price difference is not fixed, you are advised to go to the specific product quotation page or log onto the trading platform to check the spread.
To minimise costs to our customers, we do not charge any deposit fees. There are other third party charges for withdrawals that is outside of Mitrade’s control such as intermediary bank fees1, etc.
1 e.g. international wire transfers, international credit card transactions, bank account transfers in/transfers out or the use of unsupported currency for trading (foreign currency conversion)
Overnight funding will be debited or credited if the position is held passed 10PM (GMT 22:00). Please visit the specific product quotation page or log on to the trading platform to view overnight funding rates.
If you have not logged into your Mitrade account for more than 180 days to open a new trade, we will charge an inactivity fee of up to USD10 per 30 natural days.
1. Wire transfer – about 2-5 business days, depending on how much time the bank needs to process the transaction.
2. Bank account – instant or within 1 business day.
3. Debit card/credit card - instant or within 1 business day.
4. e-wallet – instant or within 1 business day.
You may choose to withdraw funds via wire transfer/e-wallet/credit card. After logging in to the platform, click “Funds” – “Withdrawal”, fill in necessary information as instructed, and press “Confirm”. The system will request you to confirm that the information is correct. Once you confirm, we will process your withdraw request as soon as possible.
Please note that you must complete bank account verification before making a withdrawal request.