Mitrade Review – What to expect from the broker

Mitrade is a CFD Broker that features on its trading platform CFDs on forex, stocks, indices, commodities and cryptocurrencies. Mitrade is a subsidiary company of Mitrade Global Pty Ltd, a corporation that is regulated and overseen by the Australian Securities and Investments Commission in Australia. The broker charges on a popular currency pair EUR/USD a spread of 0.6 pips*. Trading with real funds is possible with a minimum deposit of $1 (or equivalent in other currency). The Mitrade website is available in English, Vietnamese, Chinese, Thai and Korean.

What do we cover in our Mitrade Review?


General Risk Warning: 74–89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Basic information about the broker

  • Website address: www.Mitrade.com
  • Leverage: up to 1:200
  • Instruments: CFDs – Forex, commodities, stocks, indices, cryptocurrencies
  • Minimum deposit: $1 (accounts held in USD or AUD)
  • Demo account: Yes, free of charge
  • Methods of deposit and withdrawal: Wire Transfer, Skrill, Poli, Credit and debit cards (Visa/MasterCard)

Mitrade Trading Platform

For CFD trading, Mitrade offers its own trading platform, which is called the Mitrade Trading Platform. According to the broker, this trading platform offers a simple and intuitive interface which can be accessed either by a web browser (web-based version) or by a mobile device (mobile app). The platform features professional chart analysis, free risk management tools and real-time notifications.

Mitrade Fees (spreads)

As any other CFD broker, Mitrade charges a spread fee. For the most current spread charges, please visit the Mitrade official website. Here is a spread comparison table that contrasts Mitrade spreads with popular industry competitors.


AssetEUR/USDUSD/JPYGBP/USDAUD/USD
Mitrade*0.60.91.13.0
Plus500**0.60.71.10.6
IQOption**1.20.91.51.6

*Spreads recorded on 11.02.2020 at 9:39 GMT. Data about spreads were taken from the homepage of the broker. **Spreads recorded on 26.09.2019 at 11:26 GMT from the trading platform of the broker.

Mitrade regulation

Mitrade Global Pty Ltd is authorized and regulated by Australian Securities and Investments Commission under license number AFSL 398528.

Advantages and disadvantages

Every Broker has its pros and cons, let’s have a look at the ones that elevate & denounce Mitrade.

Mitrade Pros
  • Low minimum deposit
  • ASIC regulation
Mitrade Cons
  • no MT4

To sum up the Mitrade Review

Mitrade adheres to strict regulatory guidelines of the ASIC. The broker charges average spreads on most major forex pairs. The company features a free demo account for practice trading, which can traders test on an in-house built Mitrade trading platform. The minimum deposit is set at 1 dollar, which is an especially good advantage for beginner traders.

Your review can make a difference to other traders, please leave a comment if you have any personal experience with Mitrade.



Michael
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