No. Retail client deposits are kept in a segregated trust account when required under Australian law. Mitrade strictly abides by Australia’s client money rules when depositing funds into the client’s accounts, withdrawing funds or making payments from the client’s account. We will not use client funds for hedging, consolidation or any other business purposes. We only use our own funds for hedging or other business purposes.
Retail client deposits are kept in a segregated trust account when required under Australian law. In case that Mitrade goes bankcrupt, its licence is revoked, or any circumstance occurs preventing its business from continuing, the client’s funds are still segregated and will be subject to the regulation of the Australian Client Money Rules.
Yes, we are fully compliant with Australia’s Corporations Act and financial-related regulatory requirements. We are a financial services provider authorized and regulated by the Australian Securities and Investments Commission (ASIC). Our Australian Financial Services Licence number is 398528 and our Australian Business Number is ABN 90 149 011 361. We provide comprehensive and adequate protection for client funds in accordance with Australia’s strict regulatory requirements.
No, it is the clients’ own responsibility to file tax returns and pay taxes to local governments under the law. We do not provide tax advice. Please check the relevant tax laws in your country/region. For more details, please refer to Section 15 of our Product Disclosure Statement.
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