Mitrade Review: Regulation, Fees and Accounts
Mitrade
Australia
Your money is at risk
Mitrade overview: what kind of broker is it?
Mitrade is an ECN/STP forex and CFD broker based in Australia, founded in 2012. Regulated by Australian Securities and Investments Commission (ASIC), Australian Financial Services Licence (AFSL) No. 398528.
Traders get Web-based Version and Mobile App, spreads from 0.3 Pips, leverage up to 1:200 and a $100 minimum deposit. New clients can also check the current Special Rebate Promotions.
Tradable markets include Forex Currencies, Cryptocurrency, Commodities, Indices, Stocks, Bonds, Futures.
Mitrade broker specifications
Company and regulation
| Broker | Mitrade |
|---|---|
| Regulated by | Regulated by Australian Securities and Investments Commission (ASIC), Australian Financial Services Licence (AFSL) No. 398528. |
| Type of broker | ECN/STP |
| Country | Australia |
| Foundation year | 2012 |
| Website | Visit Mitrade website |
| Website languages | English, Chinese, Vietnamese, Thailand, Korea, Bahasa Indonesia, Bahasa Melayu |
Trading conditions
| Minimum deposit | $100 |
|---|---|
| Maximum leverage | 1:200 |
| Minimum spreads | 0.3 Pips |
| Base currencies | USD, AUD |
| Tradable instruments | Forex Currencies, Cryptocurrency, Commodities, Indices, Stocks, Bonds, Futures |
| Hedging / scalping | Allowed |
| News trading | Allowed |
| Web trading | Yes |
| Mobile trading | Yes |
Bonus and promotions
| Current promotion | Special Rebate Promotions |
|---|---|
| Welcome bonus | Welcome Bonus Promotions |
| Standard no deposit bonus | $50 Forex No Deposit Bonus |
Contact details
| Telephone | Not available |
|---|---|
| Email / Skype | cs@mitrade.com |
| Fax | Not available |
| Head office | Level 17, 350 Queen Street, Melbourne, VIC 3000, Australia |
| Contact form | Contact Mitrade |
Mitrade pros and cons
Pros
- Regulated by Australian Securities and Investments Commission (ASIC),...
- Special Rebate Promotions
- Low $100 minimum deposit
- Spreads from 0.3 Pips, ECN/STP execution
- Web-based Version and Mobile App
- Islamic and mini accounts
- 4 deposit and withdrawal methods
Cons
- No managed accounts
- No segregated client accounts
- Bonus comes with trading-volume rules
Mitrade account types
Mitrade offers several account options so beginners and experienced traders can both find a fit. Live accounts start from a $100 deposit.
| Free demo account | Yes – practise with virtual money |
|---|---|
| Mini account | Yes – smaller trade sizes for beginners |
| VIP account | No |
| Islamic (swap-free) | Yes – no overnight swap charges |
| Swap-free account | No |
| Managed account | No |
| Segregated client funds | No |
Mitrade trading platforms
Mitrade offers Web-based Version and Mobile App. Web trading and mobile trading are both available.
Mitrade Broker: Key Facts
Discover the best Mitrade Broker Review: Uncover the features, benefits, and advantages of trading with Mitrade.
Related:
Official website: Mitrade.
Learn more: What is forex trading? (Investopedia).
Mitrade Broker Review
Mitrade deposit and withdrawal methods
The same methods work for both funding and withdrawals, which makes cash-outs simpler because you can usually withdraw the way you deposited.
Banks and cards
E-wallets
Is Mitrade safe and legit?
Mitrade is a regulated broker. Regulated by Australian Securities and Investments Commission (ASIC), Australian Financial Services Licence (AFSL) No. 398528.
Always check the licence number on the regulator's own website. Offshore regulators do not offer the investor compensation schemes or leverage caps of top-tier regulators such as the FCA or CySEC, which is why leverage here can reach 1:200.
Our verdict on safety
Mitrade suits traders who understand the risks of leveraged CFD trading. Start small, test a withdrawal early and use sensible leverage.
Risk warning: CFDs are complex instruments and carry a high risk of losing money quickly because of leverage. Only trade if you understand how CFDs work and can afford to lose your money.
Full Mitrade review
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