Mitrade Forex Review 2026
75% of retail FX and CFD accounts lose money.
Mitrade - At a Glance
- Established
- 2011
- Headquarters
- Level 11, 350 Collins Street, Melbourne, VIC 3000, Australia.
- International Offices
- Australia, United Arab Emirates, South Africa, Mauritius, Cyprus, Cayman Islands
- Publicly Traded
- No
- Broker Type
- Market Maker
- Regulation
- ASIC (Australia), CySEC (Cyprus), CIMA (Cayman Islands), FSCA (South Africa), FSC Mauritius (Mauritius), CMA UAE (UAE)
- Segregated Client Funds
- Yes
- Negative Balance Protection
- Varies
Cleared to zero automatically after a stop out. Mitrade can then close your account, refuse your orders or refund your deposit and stop you trading.
- Banking License
- No
- Languages
- English, Chinese (Simplified), Chinese (Traditional), Vietnamese, Thai, Korean, Spanish, Arabic, German, Indonesian, Portuguese, Polish, Italian
- Customer Support
- Live Chat, Email, Telephone
- Customer Support Hours
- 24/5
- Demo Account
- Yes
- Swap Free Account
- No
- Joint Account
- Yes
Where an application is made by more than one person the account is established in joint names as joint tenants unless the applicants specify otherwise.
- Corporate Account
- Yes
Entities can register and appoint an authorised person. No separate corporate product.
- Managed Account
- No
- PAMM / MAM Trading
- No
- Social / Copy Trading
- No
- Minimum Deposit
- $20
- Payment Methods
- Bank Transfer, Debit Cards, Credit Cards, Skrill, Neteller, Apple Pay, Google Pay, PayID, QR Code Payment, POLi
- Account Currencies
- USD, AUD
- Maximum Leverage
- 1:30 (CySEC), 1:30 (ASIC), 1:200 (CIMA), 1:200 (FSCM), 1:200 (FSCA), 1:200 (CMA)
- Bonuses
- Varies
Deposit and trading bonuses are prohibited for retail clients under ASIC and CySEC rules, so they are not available on those entities. Offered through the Mauritius entity where local rules permit.
- Contests
- No
- Markets & Products
- Forex, CFDs
- Currency Pairs
- 59 FX pairs
- Minimum Lot Size
- 0.01
- Maximum Lot Size
- 30
- Decimal Pricing
- 5 decimals
- Order Types
- Market, limit and stop orders. Stop loss, take profit and trailing stop. Pending orders support Time in Force with an expiry, after which they cancel automatically without notice.
- Execution Type
- Market maker
- Margin Call Level
- 100%, 75% then 50% of initial margin
- Stop Out Level
- 50% of initial margin
- Hedging
- Yes
- Scalping
- No
- Spread Type
- Variable
- Spread From
- 0.4 pips
- Commission
- No commission
- Overnight / Swap Fees
- Yes
- Deposit Fee
- No
- Withdrawal Fee
- Varies
Australian clients get four free a month, then AUD 5 each. Everyone else gets one free, or two if you have deposited over USD 10,000.
- Currency Conversion Fee
- No
- Account Maintenance Fee
- No
- Inactivity Fee
- Varies
None at all for EU clients. Elsewhere, USD 10 a month once an account has sat idle six months with under USD 100 in it. Several accounts means several charges.
- Custody Fee
- No
- Trading Platforms
- Mobile App, Web Platform, Desktop Platform
- Mobile App
- Yes
- API Access
- No
- VPS Hosting
- No
- Automated Trading
- No
How Mitrade's costs compare
The marker is the median of every active broker we rate, computed from the same structured data as the reviews. Headline from-spreads are the broker's advertised best case; your account type and instrument change them.
Pros & Cons
Pros
- Strong global regulatory oversight.
- Established in 2011 with a strong and proven track record.
- Segregated client funds.
- Negative balance protection.
- Wide range of global market access through CFDs.
- Fast and simple account setup process.
- Free demo account available.
- Low minimum deposit.
- Multiple fast and secure payment methods.
- Low forex and CFD trading fees.
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- No deposit or withdrawal fee for most payment methods.
- User-friendly mobile, web, and desktop proprietary platforms.
- Outstanding research tools & market analysis.
- Great educational content for beginners.
- Great customer support service.
Cons
- Product offering is limited to forex and CFDs.
- Limited advanced tools for professional traders.
- No support for TradingView, MT4, MT5 or cTrader.
- No integrated social, copy, and PAMM trading features.
- Educational resources are limited and basic.
- An inactivity fee after 6 months of account inactivity.
- No Islamic swap-free account.
