What Account Types and Fees Does Mitoyo Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Retail Account |
Beginners and casual traders |
Low minimum deposit, user-friendly interface |
Ideal for new traders looking for a straightforward trading experience |
| Professional Account |
Experienced traders |
Higher leverage options, access to advanced trading tools |
Requires verification of trading experience and volume |
| Corporate Account |
Institutional and corporate clients |
Customized services, dedicated account management |
Requires corporate documentation and verification |
| Islamic Account |
Traders seeking Sharia-compliant options |
Swap-free trading conditions |
Requires confirmation of eligibility based on religious guidelines |
| Demo Account |
All trader levels for practice |
Virtual trading environment, no risk |
Available for anyone wishing to practice trading strategies |
Account Opening Process
To open an account with Mitoyo, follow these steps: first, submit your personal information, including your name, address, and contact details. Next, provide employment details and financial background to assess your trading experience. After that, you will need to verify your identity by submitting an official ID and proof of address, such as a utility bill. Once your documents are reviewed and accepted, you can fund your account. Mitoyo offers account flexibility, allowing you to upgrade to a professional account later if you meet the necessary criteria.
Trading Fees
| Product |
Spread (pips) |
Commission |
Notes |
| Forex (EUR/USD) |
0.8 |
$0 (ECN: $3.5/lot) |
Tight spreads for major pairs |
| CFDs (Stocks) |
1.5 |
$0.5/lot |
Competitive fees for popular stocks |
| CFDs (Indices) |
1.0 |
$0.2/lot |
Includes major global indices |
| CFDs (Commodities) |
2.0 |
$1.0/lot |
Standard rates for commodities trading |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Variable spread depending on market conditions |
Other Fees
Mitoyo may also apply several additional fees, including:
– Deposit/Withdrawal Fees: These may vary depending on the payment method used.
– Inactivity Fees: Accounts that remain inactive for a specified period may incur fees.
– Platform Usage Fees: If applicable, these fees may apply for certain trading platforms.
– Overnight Interest (Swap Rates): Charges for holding positions overnight, which may differ between accounts.
– Currency Conversion Fees: Fees applicable when trading in currencies different from your account’s base currency.
