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 the costs for our customers, we do not charge any fees for deposits and withdrawals in most cases*. However, there are other third-party charges for withdrawals that are outside of Mitrade’s control such as intermediary bank fees1, etc.
*Please contact our customer service specialist for more details about fees for deposits and withdrawals.
1e.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.
Mitrade is a commission-free trading platform. The main cost of trading comes from low spreads we charge, which vary among different markets. In addition, there may be overnight funding adjustments if you hold positions overnight, and inactivity fees for not using the account for a period of 180 days.
Overnight funding adjustment:
When you hold positions through the settlement time (GMT 22:00 Winter time), overnight funding adjustment will be incurred on your account. Depending on the product you are trading and direction of your trade (buy or sell), overnight funding may be debited or credited to your account.
You will be able to find the overnight funding adjustment amount for the day in the product information section beneath the charts on our webtrader or mobile app.
If you have not traded on your account for 180 consecutive days, an inactivity fee of $10 per 30 days will apply. The first inactivity fee will be charged at GMT 22:00 (Winter time) on the 180th day.
To avoid being charged, all you need to do is to log in and trade on your account from time to time. Please note: a trade refers to an executed trade, this excludes pending orders that are yet to be executed. Moreover, deposit and withdrawals are not considered as trading activity.
Mitrade does not charge any hidden fees, and we endeavour to include all details of our fees and charges as clearly as possible. If you have any questions, please feel free to contact our customer service team for more detail.
Mitrade offers a wide range of deposit methods, including:
1. Wire Transfer/Bank Transfer - you will find beneficiary bank account details after submitting your deposit request
a. Wire Transfer: 2-5 business days depending on your bank. You may transfer via online bank or by visiting the bank branch
b. Bank Transfer: within 2 business days, processing time could vary among individual banks
2. VISA/Mastercard - generally instant
3. Online Banking - within 1 business days
4. Online Payment (Skrill) - generally instant
5. ATM Card (available to VN only)
Please note: some of the deposit methods are only available in selected countries/regions, and the processing time could vary based on individual banks. Please log in to your Mitrade account for details.
After logging in to the platform, click “Funds” -> “Transactions” to view the status and history of each deposit and withdrawal.