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.
Mitrade offers multiple depositing options, including (not all methods are applicable in your country/region):
1. Wire transfer/bank transfer-After submitting your deposit on the platform, you will see information about Mitrade's bank account.
a. Bank transfer (AU) : 1-2 banking days, depending on how much time the bank needs to process the transaction.
b. Wire transfer (Other countries) : You may transfer funds via online banking or by filling out a wire transfer form at a bank counter, and it normally takes about 2-5 banking days, depending on how much time the bank needs to process the transaction.
2. Visa/ Mastercard: Instant processing
3. POLi (only applicable to Australian clients) : Instant processing
4. e-wallet (Skrill/Neteller) : Instant processing
5. ATM/Ngan online banking (only applicable to Vietnamese clients): Instant processing
After logging in to the platform, click “Funds” -> “Transactions” to view the status and history of each deposit and withdrawal.