With Mitrade's Pro account, your funds will still be held in a segregated account and you will be eligible for negative balance protections.
You will also be trading without ASIC's imposed leverage restrictions.
However, you will forfeit the following protections as Pro account holder:1. The provision of a Product Disclosure Statement (PDS), Financial Services Guide (FSG) or any other relevant documents that Mitrade will typically provide to retail clients. 2. The protections afforded under ASIC’s PIO measures for CFDs, including leverage restrictions. 3. AFCA’s dispute resolution scheme for recourse.
Mitrade Pro account holders are classified as wholesale clients.
|Leverage (up to) and other account spec.||
(From 29th Mar 2021 onwards)
1:50, 1:30, 1:1
1:50, 1:20, 1:1
|Gold||1:20, 1:10, 1:5, 1:1||1:200, 1:100,
1:50, 1:30, 1:1
|Commodities (other than gold)||1:10,1:5,1:1||1:200, 1:100
1:50, 1:20, 1:1
|Acciones||1:5, 1:2, 1:1||1:10, 1:5, 1:2, 1:1|
|Cryptocurrencies||1:2 ,1:1||1:10, 1:5, 1:2, 1:1|
|Exclusive Market Analysis|
|Professional TradingView Charts|
|Free Economic Calendar & News|
|Protección de saldo negativo|
|Trailing Stop Loss|
|Product Disclosure Statement & Financial Services Guide||-|
|Recourse To AFCA||-|
Major Pairs: a pair of currencies that consists of any two of the following: AUD, GBP, CAD, EUR, JPY, CHF and USD
Minor Pairs: any pair that is not Major Pair
Major Indices: FR40, GER30, US30, EU50, UK100, NAS100, JPN225, US500 and AUS200
Minor Indices: a stock market index that is not a major stock market index.
To be eligible for a Mitrade Pro account, you need to meet the "wholesale client" eligibility criteria under the Corporations Act 2001. you must meet the criteria of one of the two eligibility tests below:
|Wealth Test||Sophisticated Investor Test|
Clients have net assets of at least AUD 2.5 million, as certified by a qualified accountant
Pass the Sophisticated Investor knowledge quiz
Clients have Gross Income for each of the last two financial years of at least AUD 250,000 per annum, as certified by a Qualified Accountant
Demonstrate your trading experience by:
Having traded Margin FX or CFDs 20 times a quarter for at least 4 quarters over any of the previous 3 years with a notional value of AUD 500000 or more in each of those 4 quarters.
Clients can demonstrate this experience from either their Mitrade account, another provider or a combination of both
You have at least 12 months experience in a professional capacity in the financial service sector and which requires direct knowledge of leveraged trading (or FX or CFDs)
i. Net assets refer to the total worth of assets such as your property, car, savings, shares and other investments.
Sign up for a live account on Mitrade
Apply to Upgrade to Pro by contacting email@example.com
Application approved – Begin your professional trading journey with us
If you already have a live account on Mitrade, your eligibility will be reviewed when our customer service specialists have received with a copy of accountant certificate(wealth test) or necessary proof(sophisticated investor test)
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