broker

Mitrade Review 2022

Updated:
4.1
Trust
4.0
Fees
4.3
Platforms and Tools
4.3
Customer Support
4.3
Tradable Instruments
4.1
Account Types and Terms
4.2
Deposit and Withdrawal
4.2
Research
4.3
Education
1.3

Risk Warning: CFDs are a leveraged product and can result in the loss of your entire capital. Trading CFDs may not be suitable for everyone. Please consider our PDS, FSG, Risk Disclosure Statement and Client Agreement before using our services and ensure that you understand the risks involved. You do not own or have any interest in the underlying assets. Mitrade does not issue advice, recommendations or opinion in relation to acquiring, holding or disposing of our products. All of our products are over-the-counter derivatives over global underlying assets. Mitrade provides execution only service, acting as principle at all times. Mitrade does not issue, buy or sell any cryptocurrencies nor is it a cryptocurrency exchange. The services on the website are provided by Mitrade Global Pty Ltd, a company incorporated in Australia (ABN 90 149 011 361, AFSL 398528). This AFSL authorises us to carry on a financial services business in Australia. The information on this site is not intended for residents of the European Union, United States, Canada, Japan, New Zealand or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

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Please Note: The Mitrade review is based on a Standard Account, using the Mitrade WebTrader and Mitrade Mobile App platforms, opened with Mitrade Holding Ltd.

The Big Picture

Founded in 2011, Mitrade offers trading in forex, commodities, indices, stocks, and cryptocurrencies.

The company provides its services via three entities: Mitrade Holding Ltd (Cayman Islands), Mitrade Global Pty Ltd (Australia), and Mitrade International Ltd (Mauritius).

Unlike many brokers, Mitrade offers its in-house-built platform and does not offer MT4 or MT5. The broker offers just one type of account for retail traders. There is no Islamic Account option for this account.

Mitrade offers a high number of commodities and indices, while the number of forex pairs and stocks is medium. Traders have access to stocks from U.S. and Australian exchanges.

There are many options for deposits. The number of withdrawal options is smaller as traders are limited to bank cards and bank accounts. The account can use two base currencies, USD and AUD.

10 of Mitrade Key Takeaways For 2022

  • We evaluated Mitrade across 9 categories (Trust and Stability, Fees, Tradable Instruments, Account Types, Deposit and Withdrawal, Research, Customer Support, Education, and Platform and Tools).
  • Mitrade got a good score in the Platform and Tools category as its in-house trading platform provides a sufficient number of options for traders.
  • The broker received a good score in the Fees category as it has low spreads for EUR/USD, GBP/JPY, Gold, and Apple.
  • The score for the Customer Support category was good as the answers from the support team were quick and professional.
  • The broker received a good score in the Research category as it offers interesting tools that can support the research process of both beginner and advanced traders.
  • Mitrade received a slightly above average score in the Account Types and Deposit and Withdrawal categories. The account is easy to open, and the minimum deposit is low. The broker also provides a sufficient number of options for deposits and withdrawals.
  • The score in the Trust and Stability category was average as the broker has one entity that is regulated by a Tier 1 regulator and two entities that Tier 3 regulators control.
  • Mitrade got an average score in the Tradable Instruments category as the number of commodities and indices is high, while the number of available stocks and forex pairs is average.
  • The broker received a very low score in the Education category as its educational support is limited to a collection of articles on various topics.
  • Beginner traders will benefit from the simple web and mobile trading platform developed by Mitrade.
  • Advanced traders will likely get interested in the tight spreads for some instruments.

Who is Mitrade For?

Mitrade web and trading platforms are probably the most valuable things that the broker offers beginner traders. Advanced traders will benefit from tight spreads for some instruments.

Mitrade Pros and Cons

Pros Cons
  • An easy-to-use, in-house-built trading platform.
  • Tight spreads for some instruments.
  • Multiple deposit options.
  • Two sentiment tools.
  • Weak educational support.
  • No Islamic Account.

broker

Risk Warning: CFDs are a leveraged product and can result in the loss of your entire capital. Trading CFDs may not be suitable for everyone. Please consider our PDS, FSG, Risk Disclosure Statement and Client Agreement before using our services and ensure that you understand the risks involved. You do not own or have any interest in the underlying assets. Mitrade does not issue advice, recommendations or opinion in relation to acquiring, holding or disposing of our products. All of our products are over-the-counter derivatives over global underlying assets. Mitrade provides execution only service, acting as principle at all times. Mitrade does not issue, buy or sell any cryptocurrencies nor is it a cryptocurrency exchange. The services on the website are provided by Mitrade Global Pty Ltd, a company incorporated in Australia (ABN 90 149 011 361, AFSL 398528). This AFSL authorises us to carry on a financial services business in Australia. The information on this site is not intended for residents of the European Union, United States, Canada, Japan, New Zealand or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

About the Author

Vladimir Zernov
Vladimir has more than 10 years of experience in the financial markets. His career as a day-trader at a proprietary trading firm goes back to 2007.
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How Do We Rate?

When trading forex and CFDs, it is crucial to know a broker's strengths and weaknesses. That is why FX Empire developed its proprietary rating system. We put the knowledge and expertise of our reviewers to work to bring you the most suitable brokers. A total of 200 variables have been analyzed to help you choose your broker wisely. This chart describes all the categories we evaluated and rated.
How Do We Rate Chart
Visit our methodology page to learn more about our review and rating process.
Mitrade Main Features
☑️
Regulations
ASIC (Australia), FSC (Mauritius), CIMA (Cayman Islands)
🗺
Supported Languages
English, Chinese, Korean, Vietnamese, Malaysian, Thai, Indonesian
💰
Products (CFD)
Currencies, Commodities, Indices, Stocks, Crypto
💵
Min Deposit
$50
💹
Max Leverage
1:30 (ASIC), 1:3500 (FSC), 1:250 (CIMA)
🖥
Trading Desk Type
Market Maker
See More
Check if...
unknownMitrade accepts clients from your country:
Choose your country:

Risk Warning: CFDs are a leveraged product and can result in the loss of your entire capital. Trading CFDs may not be suitable for everyone. Please consider our PDS, FSG, Risk Disclosure Statement and Client Agreement before using our services and ensure that you understand the risks involved. You do not own or have any interest in the underlying assets. Mitrade does not issue advice, recommendations or opinion in relation to acquiring, holding or disposing of our products. All of our products are over-the-counter derivatives over global underlying assets. Mitrade provides execution only service, acting as principle at all times. Mitrade does not issue, buy or sell any cryptocurrencies nor is it a cryptocurrency exchange. The services on the website are provided by Mitrade Global Pty Ltd, a company incorporated in Australia (ABN 90 149 011 361, AFSL 398528). This AFSL authorises us to carry on a financial services business in Australia. The information on this site is not intended for residents of the European Union, United States, Canada, Japan, New Zealand or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

Mitrade Full Review

Trust

Mitrade has entities that are regulated by CIMA, ASIC, and FSC. Mitrade received an average score in our rating in the Trust and Stability category as it is regulated by one Tier 1 and two Tier 3 regulators.

Mitrade Regulations

Mitrade operates under three entities:

Mitrade license record on FSC.

Why is It Important to Know Where Your Broker Subsidiary Is Regulated?

Each regulator has its requirements for brokers, which may differ materially. Traders must understand these differences to evaluate whether the broker suits their needs.

In Mitrade’s case, traders from Australia will work with Mitrade Global Pty Ltd. At the same time, global clients will likely open accounts with Mitrade Holding Ltd or Mitrade International Ltd.

Clients of Mitrade Global Pty Ltd. will benefit from the oversight of ASIC, a Tier 1 regulator. Mitrade Holding Ltd’s clients will be under the oversight of CIMA, a Tier 3 regulator. FSC, a Tier 3 regulator, regulates Mitrade International Ltd.

The broker holds clients’ funds in segregated accounts, which means their money is not mixed with the firm’s money. Mitrade also provides negative balance protection so that clients will not lose more money than they have in their accounts.

We have summarized key aspects of the broker’s entities in terms of regulation and safety for the Standard Account in the table below:

Mitrade Holding Ltd Mitrade Global Pty Ltd Mitrade International Ltd
Country/Region CIMA (Cayman Islands) ASIC (Australia) FSC (Mauritius)
Regulation Tier 3 Tier 1 Tier 3
Segregated Funds Yes Yes Yes
Negative Balance Protection Yes Yes Yes
Compensation Scheme No No No
Standard Leverage Up to 1:200 Up to 1:30 Up to 1:200

Is Mitrade Safe to Trade With?

Mitrade has an entity regulated by a Tier 1 regulator (ASIC) and Tier 3 regulators (CIMA and FSC). All entities hold their funds separately from the firm’s funds and provide negative balance protection. The segregation of the company’s funds from traders’ funds means that your funds cannot be used by the broker, which increases safety in case the broker has financial problems. Negative balance protection ensures you cannot lose more money than you deposited into your account.

Stability and Transparency

In our tests for the Trust category, we also cover factors relating to stability and transparency. Here, we focused on how long the broker has been in business, the company’s size, and how transparent they are in terms of readily available information.

The key legal documents can be found in the trading platform when the trader opens a demo account. Traders can later convert this account into a live account.

The information about the company’s entities is placed at the bottom of the main page of the website.

Mitrade offers a detailed FAQ, which discusses important topics like Fees and Charges, and Client Money Protection. Clients also have access to contract specifications for the instruments provided by the broker.

In summary, our findings indicate that Mitrade can be regarded as having a high level of trust and stability due to the following factors:

  • More than 11 years in business.
  • Regulated by Tier 1 and Tier 3 regulators.
  • Easy access to important information on the company’s website.

Fees

Mitrade received a good score in the Fees category thanks to the low spreads in EUR/USD, GBP/JPY, Gold, and Apple.

Mitrade Trading Fees

For this review, we tested the Mitrade Standard account. In this trading account, Mitrade charges spreads and swap/rollover fees. There are no commissions. Spreads are variable and depend on the liquidity situation in each instrument at a certain point in time. Traders can find swap fees on Mitrade’s trading platform.

Mitrade Spreads

We tested the spread on the Mitrade Standard Account, using the WebTrader platform, opened with Mitrade Holding Ltd, during the London open at 8am UK time and just after the US open at 2.45pm UK time. These are the most actively traded times.

Instrument Live spread AM Live spread PM
EURUSD 0.6 0.7
GBPJPY 2.8 2.4
Gold (XAUUSD) 32 30
WTI Oil 0.11 0.09
DAX 30 1.5 1.5
Dow Jones 30 4.1 3.8
Apple n/a 0.29
Tesla n/a 1.87

Mitrade offers low spreads for EUR/USD, GBP/JPY, Gold, and Apple. Spreads for EUR/USD look especially attractive, given that Mitrade does not charge commissions.

Spreads for Dax and Dow are medium, while spreads for Oil and Tesla are high.

Swap Fees

Instrument Swap Long Swap Short
EUR/USD -8.7 -4.7
GBP/JPY -6.5 -7.2

The swap fees for EUR/USD and GBP/JPY are medium. Traders should note that Mitrade charges swap fees regardless of whether you are long or short the instrument.

Are Mitrade Trading Fees Good?

Mitrade received a good score in the fees category in our rating. The spreads we measured were attractive for several instruments, including EUR/USD, GBP/JPY, Gold, and Apple. Traders interested in these instruments should take a closer look at Mitrade’s offering.

Non-Trading Fees

Mitrade does not charge inactivity fees. Your account will not be charged if you have not traded for several months in a row.

Platforms and Tools

Mitrade received a good score in the Platforms and Tools category. The broker offers an in-house Mitrade WebTrader and Mitrade Mobile App platforms with all the main features necessary for trading.

Mitrade Web Platform

In this review, we tested the Mitrade WebTrader platform. Unlike many brokers, Mitrade does not provide access to the highly-popular MetaTrader 4 or MetaTrader 5. Instead, the company has developed an in-house web-based Mitrade WebTrader platform and Mitrade Mobile App.

WebTrader platform

General Ease of Use

The key point of the trading platform is its ease of use. The platform is very friendly to beginner traders as it is very intuitive. It is easy to place orders, change watchlists, and put new indicators on the charts.

Despite the simplicity, WebTrader offers a wide range of technical indicators, so that traders can use the platform for sophisticated technical analysis.

All in all, beginner traders should quickly learn the basics of this platform. Experienced traders should be ready to start trading with WebTrader a few minutes after they open the trading platform for the first time.

Charts

WebTrader offers:

  • 86 indicators
  • 441 drawing tools
  • 10 timeframes
  • 7 chart types.

The indicators include popular options like Moving Average or Relative Strength Index, as well as more exotic options like McGinely Dynamic or Donchian Channels.

The number of drawing tools is significant because many symbols can be placed on the chart. Such layouts are good for publishing, but most traders will not use them in the analysis.

Timeframes include: 1m, 5m, 15m, 30m, 1h, 2h, 4h, D, W, M. This list is sufficient to satisfy the needs of both beginner and advanced traders.

Chart types include:

  • Bars
  • Candles
  • Hollow Candles
  • Heikin Ashi
  • Line
  • Area
  • Baseline

Orders

WebTrader has one order window, which includes the following types of orders:

  • Market Order is used to buy or sell the instrument at the current market price. This order is used when a trader wants to establish a position as fast as possible. Typically, this order is necessary when the instrument’s price begins to move quickly. The main risk of this order is that you pay a spread, which is the difference between the bid price and the ask price.
  • Take Profit is used to get out of the profitable position at a preset price.
  • Stop Loss is used to exit the position when the price is moving in the wrong way. This order is triggered when the price reaches a specified price point.
  • Trailing Stop is used to set a stop order that will move in case open position trends in the right direction. This order is used to protect a trader’s profits if the market direction reverses.
  • Buy/Sell Limit is used to trigger a market order when the instrument is higher or lower than the preset price.

Mitrade Mobile App

Mitrade offers an in-house mobile app for trading. Just like in the case of the web-based platform, the key feature of the mobile app is simplicity.

General Ease of Use

The mobile app is easy to use. Traders can quickly create their watchlists or browse through the instruments available under watchlists like Popular, Forex, Commodities, etc.

As usual, the mobile app does not provide the same number of options as the main trading platform, which is not surprising as few traders use the mobile app for technical analysis.

Devices

Mitrade offers versions for iOS and Android.

Charts

The charts have the complete list of available timeframes, but the selection of indicators and chart types is limited. As mentioned above, traders rarely use mobile trading platforms for technical analysis, so this is not a problem.

Orders

The mobile app offers the same types of orders as the main version: Market order, Take Profit, Stop Loss, Trailing Stop, and Buy/Sell Limit.

Tradable Instruments

Mitrade received an average score for Tradable Instruments in our rating. The broker offers a high number of commodities and indices, while the number of available forex pairs and stocks is medium.

Mitrade provides access to 58 forex pairs, 12 commodities, 319 stocks, 11 indices, and 28 cryptocurrencies.

The number of available forex pairs is medium. The list includes a typical mix of major and exotic pairs.

Available stock CFDs include stocks from the U.S. and Australia, which is not surprising as Mitrade is headquartered in Australia. The number of available stocks is medium and includes the most popular names from both countries.

The broker’s commodity and indices offering is strong, so traders specializing in these market sentiments may take a closer look at Mitrade.

Mitrade’s cryptocurrency offering includes the most popular names and some exotic coins. The number of available cryptos will be sufficient for portfolio diversification for traders not specializing in the crypto sphere.

What are CFDs?

CFDs (Contracts for Differences) are financial instruments that allow traders to bet on securities without owning the underlying securities. The key advantage of CFDs is the access to significant leverage, which is typically unavailable when trading other instruments. In this light, CFDs are very popular in short-term trading.

What Can You Trade with Mitrade?

  • 58 forex pairs. Traders can work with popular pairs like GBP/USD or USD/CAD, and more exotic options like GBP/DKK or EUR/TRY.
  • 12 commodities. The list includes popular commodities like WTI oil, Gold, Platinum, and Copper.
  • 319 stocks. Traders have access to popular U.S. and Australian stocks.
  • 11 indices. The offering includes major indices like S&P 500, Nasdaq 100, and Nikkei 225.
  • 28 cryptocurrencies. The list includes Bitcoin, Ethereum, and Dogecoin.
Forex pairs available at Mitrade
Forex Shares
GBP/USD | USD/CAD | EUR/TRY Tesla | Apple | Pfizer
Indices Cryptocurrencies
S&P 500 | Nasdaq 100 | Nikkei 225 Bitcoin | Ethereum | Dogecoin
Commodities
WTI Oil | Gold | Platinum

Mitrade offers forex pairs, stocks, indices, cryptocurrencies, and commodities. The number of available forex pairs is average, and the list is fairly standard. Traders interested in Australian stocks should take a closer look at Mitrade as the broker offers popular stocks from the country.

The number of available commodities and indices is high. There are no exotic names, but the offering includes all popular indices and commodities, so it will likely suit most traders.

The broker also offers 28 cryptocurrencies. This number is probably not sufficient enough to satisfy crypto-enthusiasts. Still, it should be sufficient for most traders willing to gain some exposure to the crypto segment.

Risk Warning: CFDs are a leveraged product and can result in the loss of your entire capital. Trading CFDs may not be suitable for everyone. Please consider our PDS, FSG, Risk Disclosure Statement and Client Agreement before using our services and ensure that you understand the risks involved. You do not own or have any interest in the underlying assets. Mitrade does not issue advice, recommendations or opinion in relation to acquiring, holding or disposing of our products. All of our products are over-the-counter derivatives over global underlying assets. Mitrade provides execution only service, acting as principle at all times. Mitrade does not issue, buy or sell any cryptocurrencies nor is it a cryptocurrency exchange. The services on the website are provided by Mitrade Global Pty Ltd, a company incorporated in Australia (ABN 90 149 011 361, AFSL 398528). This AFSL authorises us to carry on a financial services business in Australia. The information on this site is not intended for residents of the European Union, United States, Canada, Japan, New Zealand or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

Customer Support

Mitrade provides support via online chat and email. The broker received a good score for Customer Support in our rating due its support team’s quick and professional answers.

Mitrade Customer Support Test

We have contacted Mitrade several times through the online chat. We asked about deposit, withdrawal fees, and the minimum deposit. The answers were quick and professional, and the support team has a set of pre-written answers for the most popular questions.

Chat support at Mitrade

Deposit and Withdrawal

Mitrade clients can deposit money with Visa/Mastercard, Wire Transfer, Online Banking, Skrill, Momo, Zalo, Touch’n GO, Boost, ATM Card, and QR Code Payment. Money can be withdrawn using bank cards and bank accounts.

Mitrade received a decent score in the Deposit and Withdrawal category in our rating. The broker provides a high number of deposit options. The withdrawal options are somewhat limited, although clients can use their bank cards and bank accounts to withdraw money. There are no fees for deposits or withdrawals from Mitrade.

Mitrade Deposits

Deposit Method Base Currencies Fees Processing Time
Visa/Mastercard USD, AUD No Instant
Bank Transfer USD, AUD No Instant
Online Banking USD, AUD No 1 business day
Skrill USD, AUD No Instant
Momo USD, AUD No Instant
Zalo USD, AUD No Instant
Touch’n GO USD, AUD No Instant
Boost USD, AUD No Instant
ATM Card USD, AUD No Instant
QR Code Payment USD, AUD No Instant

Mitrade provides a sufficient number of options to deposit funds into the account. For most methods, the funds are expected to arrive instantly. While Mitrade does not charge deposit fees, the payment provider may charge such fees.

Mitrade Withdrawals

Withdrawal Method Base Currencies Fees Processing Time
Visa/Mastercard USD, AUD No 3-5 business days
Bank Transfer USD, AUD No 3 business days
Online Banking USD, AUD No 3 business days

For withdrawals, Mitrade clients can use bank cards and bank accounts. There are no withdrawal fees. The processing time is longer than for the deposits, which is fairly usual.

Account Types and Terms

Mitrade received a good score for Account Types and Terms in our rating. Traders who want to trade under ASIC protections but want to maximize their leverage can apply for a professional account if they meet certain criteria.

As Mitrade is focused on providing a simple way to trade, the broker has just one type of account for retail traders. This account is offered by all entities.

Traders who want to trade under ASIC regulations but do not want to be limited by the maximum leverage of 1:30 can apply for a Mitrade Pro account. This account is offered only under ASIC and comes with a leverage of up to 1:200.

There are two main eligibility criteria for this account. The client must pass a wealth test (net assets of at least AUD 2.5 million or gross income of AUD 250,000 per annum) or a sophisticated investor test (pass the quiz and demonstrate trading experience).

Why is Choosing the Right Account Type Important?

The account you choose must suit your needs. Typically, the trader should focus on base currency options, contract size, commission, fees, the number of pending orders/positions, and the minimum deposit size.

What Account Types does Mitrade Offer?

Standard Account
Commission No
Spread From 0.6
Minimum Deposit 200
Leverage Up to 1:200
Islamic Account No
Demo Account Yes

Mitrade’s standard account is a commission-free account. The broker charges spreads and swap/rollover fees. Unless the trader plans to open this account with an ASIC-regulated entity, the account offers leverage of up to 1:200. There is no Islamic Account option.

What is CFD leverage?

CFD Leverage allows you to avoid paying the full value of the position. Instead, you pay a deposit, which is called margin, while the remaining funds are borrowed.

In Mitrade’s case, the maximum leverage is 1:200. This is a high level of leverage, but it cannot be called extreme as some brokers offer leverage of 1:500, 1:1000, and even 1:2000. Anyway, traders should be especially careful in evaluating their risks when using the maximum leverage offered by the broker.

Mitrade Account Opening Process

To open an account with Mitrade, go to the broker’s website and click “Create Account.”

  • Step 1: Provide your email address and set up a password.
  • Step 2: Once you access the trading platform, complete the account information, including your name, residential address, and country of residence.
  • Step 3: Complete email address verification.
  • Step 4: Complete identity verification.

What is a demo account?

A demo account is an account that allows you to test the broker’s services and your trading skills without risking your money.

Please note that your trading experience will differ when you use a demo account compared to a real-money account due to human psychology, as traders find themselves under pressure when the real money is at stake.

It’s a good idea to use the demo account for practicing and learning the trading platform, but do not spend too much time on the demo.

Risk Warning: CFDs are a leveraged product and can result in the loss of your entire capital. Trading CFDs may not be suitable for everyone. Please consider our PDS, FSG, Risk Disclosure Statement and Client Agreement before using our services and ensure that you understand the risks involved. You do not own or have any interest in the underlying assets. Mitrade does not issue advice, recommendations or opinion in relation to acquiring, holding or disposing of our products. All of our products are over-the-counter derivatives over global underlying assets. Mitrade provides execution only service, acting as principle at all times. Mitrade does not issue, buy or sell any cryptocurrencies nor is it a cryptocurrency exchange. The services on the website are provided by Mitrade Global Pty Ltd, a company incorporated in Australia (ABN 90 149 011 361, AFSL 398528). This AFSL authorises us to carry on a financial services business in Australia. The information on this site is not intended for residents of the European Union, United States, Canada, Japan, New Zealand or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

Research

Mitrade received a good score for Research in our rating. The broker offers a range of tools that can provide material support to traders during their research.

Mitrade offers Trading Analysis, which is a collection of ideas based on technical analysis. Ideas come with an explanation of the technical setup behind the idea, so they can be interesting to both beginners and advanced traders.

The Forecast section is a third-party market sentiment tool that “highlights industry experts’ near and medium-term viewpoints and forecast of popular markets.” Interestingly, Mitrade also provides a Sentiment Index, which is created by the broker.

As usual, traders will have access to the Economic Calendar, which is a standard feature for brokers. Mitrade also has a busy news feed.

Sentiment Index at Mitrade

Education

Mitrade received a low score in the Education category in our rating due to the absence of video material, courses, and webinars.

Mitrade has an education segment on its website, which represents an extended FAQ about the instruments offered by the broker.

In addition, the broker has a blog named Insights, which has a collection of educational articles on various topics.

In general, beginners can learn some basics from the material offered by the broker. However, it is not a systemized trading course.

Education segment at Mitrade

The Bottom Line

Founded in 2011, Mitrade has been in business for more than 11 years. It is a stable broker which offers a high level of transparency. The legal documents can be easily found in the broker’s trading platform. To access this platform, a potential client must open a demo account.

The broker offers one type of account for retail clients. Mitrade is a commission-free broker, so traders should evaluate the spreads for the instruments they trade to decide whether this broker suits their needs.

Mitrade does not offer the highly popular MetaTrader 4 or MetaTrader 5 platforms. Instead, it has developed an in-house trading platform in the web and mobile versions. The main feature of this trading platform is its simplicity, although the web version offers powerful tools for technical analysis.

Traders can open an account with three entities: Mitrade Holding Ltd (Cayman Islands), Mitrade Global Pty Ltd (Australia), and Mitrade International Ltd (Mauritius).

Available instruments include forex pairs, stocks, indices, commodities, and cryptocurrencies. The number of available commodities and indices is high, while the number of available forex pairs and stocks is medium. Traders should note that Mitrade offers stocks from both U.S. and Australian exchanges.

Among the instruments we have tested, the spreads for EUR/USD, GBP/JPY, Gold, and Apple are low. The spreads for Apple and Tesla are high.

Beginner traders will benefit from the easy-to-use trading platform, while advanced traders will likely get interested in the tight spreads for some instruments.

FAQ

Where is Mitrade based?
Mitrade is based in Australia

Is Mitrade safe?
Clients of Mitrade Holding Ltd will benefit from the oversight of CIMA, a Tier 3 regulator. Clients of Mitrade Global Pty Ltd will work under the regulations of ASIC, a Tier 1 regulator, while clients of Mitrade International Ltd will benefit from the oversight of FSC, a Tier 3 regulator.

How does Mitrade make money?
Mitrade makes money from spreads and swaps that it charges traders.

Is Mitrade good for beginners?
Mitrade offers an easy-to-use trading platform, which is good for beginners.

How do I deposit into a Mitrade account?
Traders can deposit money via Visa, Mastercard, Wire Transfer, Online Banking, Skrill, Momo, Zalo, Touch’n GO, Boost, ATM Card, and QR Code Payment.

What is the min. deposit for Mitrade?
The minimum deposit is 200 AUD.

How do I withdraw money from Mitrade?
Traders can use their bank cards and accounts to withdraw money from Mitrade.

How long does it take to withdraw money from a Mitrade account?
It takes 3-5 business days to withdraw money from a Mitrade account.

What is the max leverage in Mitrade?
The maximum leverage is 1:200

How do I open an account with Mitrade?
Go to the main page of the Mitrade website and click on “Create Account.”

What platforms does Mitrade offer?
Mitrade offers an in-house platform that has web and mobile versions.

Does Mitrade offer a demo account?
Yes, Mitrade offers a demo account.

broker

Risk Warning: CFDs are a leveraged product and can result in the loss of your entire capital. Trading CFDs may not be suitable for everyone. Please consider our PDS, FSG, Risk Disclosure Statement and Client Agreement before using our services and ensure that you understand the risks involved. You do not own or have any interest in the underlying assets. Mitrade does not issue advice, recommendations or opinion in relation to acquiring, holding or disposing of our products. All of our products are over-the-counter derivatives over global underlying assets. Mitrade provides execution only service, acting as principle at all times. Mitrade does not issue, buy or sell any cryptocurrencies nor is it a cryptocurrency exchange. The services on the website are provided by Mitrade Global Pty Ltd, a company incorporated in Australia (ABN 90 149 011 361, AFSL 398528). This AFSL authorises us to carry on a financial services business in Australia. The information on this site is not intended for residents of the European Union, United States, Canada, Japan, New Zealand or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

See Mitrade Full Information
Broker General Information
Trading Features
Other Details
Headquarters Country
Australia
Foundation Year
2011
Regulations
ASIC (Australia), FSC (Mauritius), CIMA (Cayman Islands)
Publicly Traded
No
Number Of Employees
50-100
Trading Desk Type
Market Maker
Trading platforms
Proprietary
Restricted Countries
United States, Belgium, France, Japan, United Kingdom, Hungary, Norway, Poland, Romania, Greece, Sweden, Switzerland, Denmark, Netherlands, Ireland, Austria, Spain, Bulgaria, Canada, Germany, New Zealand
Supported Languages
English, Chinese, Korean, Vietnamese, Malaysian, Thai, Indonesian
Min Deposit
$50
Max Leverage
1:30 (ASIC), 1:3500 (FSC), 1:250 (CIMA)
Deposit Options
Wire Transfer, Credit Card, Skrill, Poli, E-wallets
Withdrawal Options
Wire Transfer, Credit Card
Cryptocurrencies
Bitcoin Cash, Bitcoin, Cardano, Dogecoin, Ripple, Stellar, Uniswap, EOS, Ethereum, Polkadot
Products (CFD)
Currencies, Commodities, Indices, Stocks, Crypto
Demo Account
Yes
Islamic Account
No
Segregated Account
Yes
Managed Account
No
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IMPORTANT DISCLAIMERS
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
RISK DISCLAIMERS
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.