Mitrade is Forex and CFDs broker that offers its trading service to the worldwide audience except for Japan, Canada, and the United States. It offers customers to trade currency pairs and CFDs on commodities, indices, and cryptocurrencies with the floating leverage of 1:200. There is no minimum deposit requirement, as the traders can open an account with the broker and deposit as much money as they desire. As the final flourish, the broker has a license from ASIC which makes Mitrade seem to be one of the best brokers. Mitade’s Trading Insights is an investor-centered platform, focusing on bringing investors the financial basics, latest market developments, trading news and in-depth market analysis.

 

 

By providing timely, diversified and valuable insights, we aim to equip investors with an informational edge in the changing market.

Founded in 2019, Trading Insights now has over 20 financial professionals on board contributing to the community. Their understanding and insights of the market have been shared and reposted by many trust-worthy medias, such as Yahoo Finance, Bloomberg and Fxempire, channeling reliable content to millions of investors.

 

Mitrade Fees

Mitrade operates as a commission-free platform, meaning that the fees are primarily dependent on the spread and the type of account you select. Our research revealed that Mitrade offers competitive trading fees, with no deposit or withdrawal fees, and no hidden charges.

It is important to note that you will be charged overnight fees if your position remains open for more than a day. Additionally, an inactivity fee of $10 is applicable to accounts that have been inactive for 180 days.

Mitrade Fees are ranked low or average with an overall rating of 8.7 out of 10 based on our testing and compared to over 500 other brokers.

 

Deposits and Withdrawals

While trading with Mitrade you will have a chance to fund your account with a wide range of funding methods including Bank Wire, Credit/Debit cards, Skrill, etc. Also, note that some funding methods might vary based on banks and entities.

Mitrade Funding Methods we ranked good with an overall rating of 8.5 out of 10. Fees are low, and also you can benefit from various account-based currencies.

 

Deposit Options

In terms of funding methods, Mitrade offers the following payment methods:

Bank Wire,

Credit/Debit cards,

Skrill,

ATM Card,

Momo,

Zalo, etc.

Mitrade Minimum Deposit

There is no requirement for a minimum deposit with Mitrade. However, our research indicates that many brokers prefer starting with an initial amount of $100.

 

How Withdraw Money from Mitrade Step by Step:

Login to your account

Select Withdraw Funds’ in the menu tab

Enter the withdrawn amount

Choose the withdrawal method

Complete the electronic request with necessary requirements

Confirm withdrawal information and Submit

Check the current status of withdrawal through your Dashboard

 

Trading Platforms

Mitrade offers its own proprietary trading platform, Mitrade Trading Platform, which can be accessed via web, mobile, and desktop versions with no commissions. We found that the platform has a simple and easy-to-use interface, allowing traders to access it from anywhere.

 

Trading Tools

In our review, we saw many risk management tools offered by the Mitrade trading platform, which is always good and favorable to the trading proposal overall, as well as drawing tools, technical charts, price alerts, split charts, trading news, copy trading, and more.

Mitrade Platform is ranked good with an overall rating of 8.2 out of 10 compared to over 500 other brokers. We mark it as good since it offers safe and comprehensive trading conditions to its clients. However, Mitrade does not offer any of the MetaTrader trading platforms.

 

Leverage

Trading with leverage allows traders to increase their trading size and potentially increase profits. However, we suggest taking the time to fully understand how to use leverage properly, as it can also work against you.

Mitrade leverage is offered according to the ASIC, FSC, and CIMA regulations:

The Australian clients that hold with ASIC-regulated Fusion Markets accounts are entitled to up to 1:30.

For FSC (Mauritius) clients the maximum leverage is 1:30.

CIMA (Cayman Islands) clients can use up to 1:200 for major currencies.

 

Mitrade Education

Mitrade offers a broad range of educational and research materials, including trading basics, fundamental analysis, insights, and a trading academy. However, we noticed that the broker does not provide seminars or webinars, which are crucial for novice traders.

Mitrade Education ranked with an overall rating of 8.5 out of 10 based on our research. We found that the broker offers good-quality of learning materials and research.

 

Customer Support

We got in our test that Mitrade offers customer support 24/5 through Live Chat, Phone lines, and Email. It also has representative offices in Mauritius and the Cayman Islands, in addition to its headquarters in Melbourne, AU.

Customer Support in Mitrade is ranked good with an overall rating of 8.5 out of 10 based on our testing. We got fast and knowledgeable responses, and also easy to reach during the working days.

 

Account Types

Mitrade offers two types of accounts: Personal Standard and Professional trading accounts, with USD, AUD, EUR, GBP, and other currencies available for trading.

New traders can also take advantage of the free Demo account to practice trading with trial trades.

 

Mitrade Review Conclusion

In conclusion, Mitrade is a safe and well-regarded broker with competitive trading conditions and transparency. At Mitrade, you can find low trading costs and spreads with 0 commissions.

The broker provides good learning materials designed for traders of all levels, from beginners to advanced. Its proprietary trading platform is equipped with advanced trading tools and technical analysis features that are essential for traders of any size.

 

Based on Our findings and Financial Expert Opinions Mitrade is Good for:

Traders from Australia

International traders

Beginners

Advanced traders

CFD and currency trading

Copy trading

NDD/STP execution

Competitive spreads and costs

Good learning materials

Supportive customer support