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 will not charge you for any deposits, however depending on the payment method, your bank or payment provider may charge you a service fee. We suggest you check with your bank for more details.
For Wire Transfers, if you deposit an amount ≥ USD500, Mitrade will bear the intermediary bank fee for you, which means you will only need to pay for the fees charged by your own bank. To apply for an intermediary bank fee reimbursement, please send us your remittance receipt showing the amount being charged by your bank. Please note, Mitrade will allocate the funds we have received on to your trading account, if any discrepancy is found between your remitting amount and deposit amount, please feel free to contact our customer service team by Live Chat or Email.
If you choose an online payment to deposit, such as Skrill, please note that we currently only accept AUD and USD deposits. If your online payment currency is different from the base currency of your Mitrade trading account, you may be charged for currency conversion fees. We will not be responsible for any taxes and expenses incurred in this process.
Mitrade will not charge you for withdrawals unless you are withdrawing an amount lower than the minimum requirement and/or have exceeded the maximum number of free withdrawals for the month. Please refer to our withdrawal policy for more detail.
In the case of withdrawals via Wire Transfer, your receiving bank might charge you a service fee. We recommend you to contact your bank for the relevant fees and charges.
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