A demo account is mostly identical to a live account in terms of trade interface, data and operation. Each demo account starts off with USD50,000 or AUD50,000 virtual money to allow you to familarise with the functions of the platform through demo operation without capital risk, and to understand how to invest in contracts for difference (CFDs).
Please follow the steps below to open a live account:
1. Open Mitrade's registration page, and as instructed: Register your email account, set your login password, and choose the base currency for trading. A [demo account] will be opened automatically after you submit your information;
2. On the demo account page, select “Switch to Live Account” to open a “Live Account” by performing the following procedure:
A) Account registration (Fill in your personal information as instructed) ;
B) Investment evaluation (The investor needs to pass our evaluation to create a live account) ;
C) ID verification.
Before you open a live account, we suggest you first learn about trading Fees and Charges, and all relevant Risk Disclosure Statement and Product Disclosure Statement.
Please note that only after completing your ID verification, you will be able to deposit into your live account.
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
Mitrade will process your withdrawal request within 1-2 banking days. However, the time for the funds to reach your account varies among different withdrawal methods and will depend on how much time the bank needs to process the transaction.
1. Wire transfer/Bank transfer
a. Wire transfer - It normally takes 2-5 banking days.
b. Bank transfer - For local bank transfers within Australia, it normally takes 1-2 banking days.
2. Visa/Mastercard - It normally takes 3-5 banking days.
3. Ngan online banking - This option is only applicable to Vietnamese clients and it normally takes 2-5 banking days.
Clicking "Trade" will display all products that the platform offers for trading. You can search for a product by entering the product symbol or name in the search box on the top right side. Select a product and click "Sell/Buy", and a trading window will pop up. You can see the current price and the estimated required margin. You can manually adjust the trading size, set your limits and stop level for risk control, and then click "Sell/Buy" to open a position. Please note that all financial product prices are subject to market fluctuations and updates at any time, and the market may have changed before you press the “Sell/Buy” button.
CFD is an over-the-counter (OTC) product, which has no single quotation. The data sources used by each platform are not necessarily the same, leading to different quotes on different platforms, though the differences are not significant. The overall trend must be consistent.
Always check whether Internet connection is working. You can only close a position during the trading hours of a financial product. Financial products may not be traded temporarily under special circumstances, such as illiquidity and excessive market volatility. You can also contact our online customer service for further assistance.
Mitrade is a completely commission-free trading platform. We charge low spreads, and depending on your specific trading conditions, the platform may incur additional expenses, such as overnight funding cost or inactivity fees.
If your card is expired or lost before sending out a withdrawal request, you may contact our customer service team and we will provide you with another withdrawal method. If your card is expired or lost after a withdrawal has been processed, your card should be linked to a bank account and the funds should still be credited there. We can always provide you with an ARN (Acquirer's Reference Number) which you can then pass it to your bank to trace the funds in case they don't appear in your bank account.
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.
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