Fees
Fees.
Schedule
Venue
Side
Rate
Notes
Tokenized equity
Wrap (seller)
1.5%
Charged when a seller deposits real shares and receives tokenized equity. Reflects cost of SPV setup, attestation, on-chain mint, and KYC.
Tokenized equity
Unwrap (buyer)
1.0%
Charged when a holder converts tokenized equity back to real shares. Reflects cost of off-chain share transfer and transfer agent.
Tokenized equity
Trade (each side)
0.25%
Same fee symmetric for buy and sell. Limit orders below the midpoint rebate 0.05% to encourage depth.
OTC secondaries
Match & close
0%
Zero Mithril fee at close. Third-party escrow, legal, and wire costs apply (typically $500–$2,500 flat on deals >$100K notional).
Perpetual futures
Maker / taker
0.02% / 0.05%
Mithril routes to Hyperliquid; their fees apply. Funding payments pass through. US-blocked.
Prediction markets
Volume
2%
Market creators earn 2% of future volume. Mithril splits the platform cut with the market creator.
Frontend integrations
Trade (tokenized equity)
0.5%
A third-party front-end earns 0.5% of the trade when its user lands through a tagged referral.
Referrals
L1 / L2
0.15% / 0.05%
Two-level referral pool. Never inflates the cost paid by traders.
Not in the price
- No price markup before display.
- No proprietary book. Mithril never takes the other side.
- No payment-for-order-flow.
- No affiliated-desk routing.
- No custody fees. Mithril does not custody.
- No inactivity, withdrawal, or closure fees.
Cross-venue routing
When tokenized depth exists on more than one venue, the router picks the lowest all-in cost after slippage, gas, and bridge. Scoring is public. User can override.
score = midpoint + impact_bps*notional/1e4
+ gas + bridge + uncertainty_bps*notional/1e4Receipt lists chosen venue and all venue scores. Not a broker-dealer obligation.
Side by side
| Metric | Mithril | Forge | EquityZen | Republic | Hiive | Nasdaq PM |
|---|---|---|---|---|---|---|
| Trading fee (buyer) | 0.25% (tokenized) / 0% (OTC) | ~5% commission on secondary trade | ~5% commission | ~2–3% on private placements | ~3–5% buyer commission | Institutional — quoted per deal |
| Minimum ticket | $100 tokenized / $10K OTC | $100K OTC | $20K–$100K | $50+ retail | $25K+ | $1M+ |
| Settlement time | ~2s tokenized / ~4 weeks OTC close | 30–90 days | 30–90 days | Varies by deal | 30–60 days | 30–90 days |
| Available 24 / 7 | Tokenized + perps: yes. OTC: matched 24/7, closes during business hours. | Business hours | Business hours | Retail self-serve | Business hours | Business hours |
Competitor figures are taken from each venue's published 2025 and 2026 retail pricing pages and are subject to change without notice. To flag a number for correction, email legal@mithril.pro; corrections land within one business day.
Last reviewed April 18, 2026. Fee changes are audit-logged and notified to active users at least 30 days before they take effect.