Mitrade Review
Key Facts
Regulation
ASIC · CySEC · CIMA+3 more
Broker Type
Market Maker
Min. Deposit
$20
Platforms
Mobile App, Web Platform, Desktop Platform
Fees
Low
Max Leverage
1:30 (CySEC), 1:30 (ASIC), 1:200 (CIMA), 1:200 (FSCM), 1:200 (FSCA), 1:200 (CMA)
Demo Account
Yes
Inactivity Fee
-
Our Ratings
4.3
out of 5
Safety & Regulation4.6
Fees & Costs4.4
Platforms & Execution4.1
Education4.3
75% of retail FX and CFD accounts lose money.
Mitrade - At a Glance
Company & Overview
- Headquarters
- Level 11, 350 Collins Street, Melbourne, VIC 3000, Australia.
- International Offices
- Australia, United Arab Emirates, South Africa, Mauritius, Cyprus, Cayman Islands
- Broker Type
- Market Maker
- Regulation
- ASIC (Australia), CySEC (Europe), CIMA (Cayman Islands), FSCA (South Africa), FSC (Mauritius), CMA (UAE)
- Segregated Client Funds
- Yes
- Negative Balance Protection
- Yes
- Languages
- English, Chinese (Simplified), Chinese (Traditional), Vietnamese, Thai, Korean, Spanish, Arabic, German, Indonesian, Portuguese, Polish, Italian
- Customer Support
- Live Chat, Email, Telephone
Account Types
- Demo Account
- Yes
- Swap Free Account
- No
- Joint Account
- No
- Managed Account
- No
- PAMM / MAM Trading
- No
- Social / Copy Trading
- No
Account Conditions
- 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
- Yes
- Contests
- No
Trading Conditions
- Markets & Products
- Forex, CFDs
- Minimum Lot Size
- 0.01
- Maximum Lot Size
- 30
- Decimal Pricing
- 5 decimals
- Hedging
- Yes
- Scalping
- Yes
Fees & Costs
- Spread Type
- Variable
- Spread From
- 0.4 pips
- Commission
- No commission
Platforms & Tools
- Trading Platforms
- Mobile App, Web Platform, Desktop Platform
- API Access
- No
- VPS Hosting
- No
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.
- 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.
