What Account Types and Fees Does MiTRADE Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Demo Account |
Beginners |
Practice trading with virtual funds of AUD 50,000 |
Ideal for testing strategies; validity of 90 days |
| Standard Account |
Retail Traders |
Competitive spreads starting from 0.8 pips, no commissions |
Minimum deposit of $50; suitable for most individual traders |
| Pro Account |
Experienced Traders |
Higher leverage up to 1:200, dedicated support |
Requires meeting specific trading volume qualifications |
| Islamic Account |
Muslim Traders |
Swap-free trading options |
Available for those who comply with Islamic finance principles |
| Corporate Account |
Corporate Clients |
Customizable trading solutions |
Requires corporate documentation for setup |
Account Opening Process
To open an account with MiTRADE, follow these steps:
1. Visit the MiTRADE website and click on “Open Account” or “Create Account.”
2. Complete the registration form by providing personal information, including name, email, and phone number.
3. Verify your identity by submitting a government-issued ID and proof of address, such as a utility bill.
4. Review and agree to the terms and conditions before proceeding.
5. Fund your account using various payment methods, such as credit cards or bank transfers.
This process is streamlined and designed to allow for quick access to trading. Additionally, traders have the option to upgrade to a Pro Account later, depending on their trading activity and experience.
Trading Fees
| Product |
Spread (pips) |
Commission |
Notes |
| Forex (EUR/USD) |
0.8 |
$0 |
No commissions, tight spreads for major pairs |
| Forex (GBP/USD) |
1.2 |
$0 |
Competitive pricing for popular pairs |
| CFDs (Gold) |
0.35 |
$0 |
Low trading costs for precious metals |
| CFDs (WTI Crude Oil) |
0.05 |
$0 |
Attractive spreads for energy commodities |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Variable fees depending on market volatility |
Other Fees
In addition to trading costs, MiTRADE has several other fees to consider:
– Deposit/Withdrawal Fees: MiTRADE does not charge for deposits or withdrawals; however, third-party fees may apply.
– Inactivity Fees: A monthly fee of €10 is charged after 180 days of inactivity for accounts with balances below $100.
– Platform Usage Fees: No fees for using the proprietary trading platform.
– Overnight Interest (Swap Rates): Applicable for leveraged positions held overnight; Islamic accounts are available for those seeking swap-free trading.
– Currency Conversion Fees: May apply depending on the payment method and currency used.
