PR NewsWire | Jan 14 2025
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MELBOURNE, Australia, Jan. 14, 2025 /PRNewswire/ — As Australia’s retail trading market matures, the focus is shifting beyond regulatory compliance to a broader culture of trader protection and financial security. Mitrade, a global award-winning Contract for Difference (CFD) trading platform, has introduced a million-dollar Excess of Loss Insurance Policy backed by Lloyd’s of London to strengthen its trader confidence.
With forex and cryptocurrency trading gaining traction in Australia, driven by greater accessibility to technology and growing financial literacy, responsible trading practices have never been more critical. While CFDs offer Australians exposure to global markets with low capital, long-term market sustainability requires more than accessibility—it demands proactive risk management.
The CFD broker operates under the Australian Securities and Investments Commission (ASIC), one of the most rigorous regulatory bodies ensuring consumer protection and market transparency. In addition to mandatory safeguards like segregated funds and professional indemnity insurance, Mitrade has secured an Excess of Loss Insurance Policy at no cost to their customers, providing coverage of up to AUD 1,000,000 for qualifying claims in the rare event of company insolvency.
"Australia’s CFD trading market is built on a strong regulatory framework, continually evolving under ASIC’s oversight," said Elven Jong, CEO of Mitrade Australia. "While these standards offer substantial trader protections, our Excess of Loss Insurance provides an additional safeguard beyond compliance. We understand traders seek enhanced fund security and comprehensive education and resources to navigate market complexities. Our commitment reflects the broader industry shift towards proactive trader support, resilience, and risk mitigation."
The CFD broker’s dedication to trader protection and market transparency has earned industry recognition, including Best Client Fund Security Global 2024 and Best Forex Customer Satisfaction & Happiness Australia 2024 awards.
About Mitrade
Mitrade is an award-winning CFD trading platform that originated in Melbourne, Australia. Over the years, Mitrade has gained global recognition, offering services through entities regulated by authorities – Australia’s ASIC, Cayman Islands’ CIMA, Mauritius’s FSC, and Cyprus’s CySEC. Committed to democratizing global market access, Mitrade connects users to over 700 OTC derivative financial instruments, including indices, forex, commodities, ETFs, and shares. Powered by proprietary AI-driven technology, Mitrade offers fast execution, low spreads, and robust risk management tools. Its multi-device compatibility gives users a seamless trading experience at every stage of their journey.
For more information on Mitrade, visit https://www.mitrade.com/.
