Mitrade review

Spread from

0.01 pips

EUR/USD spread

Variable

GBP/USD spread

Variable

Commission

$0

All-in cost, EUR/USD

Spread only

Spread type

Floating/variable

Overnight swap

Overnight funding may be charged/credited

Inactivity fee

Entity/account dependent

Deposit fee

Generally none internally

Withdrawal fee

Method/entity-dependent

Currency conversion

Applicable where conversion is required

Cost is where brokers in the same regulatory bracket actually differ.

A quoted spread from 0.01 pips is a raw-spread figure, which almost always means a separate commission per lot. Compare the two together - a "zero spread" account with a high commission can cost more than a wider spread with none.

Quoted spreads are best-case figures on the most liquid pair, in normal conditions. What you actually pay widens around news and at the session open.

Mitrade lists a minimum deposit of $50. Treat it as the cost of opening an account, not the cost of trading one - position sizing on a small balance is what tends to cause damage.

Markets

Forex, Shares, Indices, Commodities, Cryptocurrencies, ETFs

Currency pairs

Multiple

Total instruments

Hundreds

Crypto CFDs

Yes, jurisdiction-dependent

Maximum leverage

Jurisdiction-dependent

Execution model

Market maker / principal

Execution speed

Fast execution advertised; no reliable universal average disclosed

Order types

Market, limit, stop, stop-loss, take-profit and platform-specific orders

Servers

Global infrastructure

Mitrade covers forex, shares, indices, commodities, cryptocurrencies, etfs. A wider range matters less than depth in the instruments you actually trade.

Funding options: visa, mastercard, bank transfer, skrill, neteller, worldpay and regional methods. Check withdrawal routes as well as deposit ones - they are often not the same, and the difference only becomes apparent when you try to take money out.

Platforms

Mitrade WebTrader, Mitrade Desktop, Mitrade Mobile

Own platform

Yes

Mobile app

Yes

Browser trading

Yes

Automated trading

No conventional EA support

Copy trading

No conventional integrated copy-trading platform

Indicators

Integrated technical indicators

Third-party tools

Limited compared with MT4/MT5 brokers

API access

No standard retail trading API prominently offered

Mitrade offers Mitrade WebTrader, Mitrade Desktop, Mitrade Mobile. A proprietary platform can be excellent, but it means your setup does not transfer if you later change broker.

Regulated by

ASIC (AFSL 398528); CySEC (438/23); CIMA (1612446); Mauritius FSC (GB20025791); FSCA (54842); UAE CMA (20200000397)

Regulator tier

Tier 1

Register entry

ASIC Professional Registers, AFSL 398528

Client money segregated

Yes, where required by applicable regulation

Held at

Not consistently disclosed group-wide

Negative balance protection

Yes for eligible retail clients/entity-dependent

Compensation scheme

Jurisdiction-dependent; Cyprus ICF protection for eligible clients

Audited by

Independent/statutory auditors as required by entity

Not available to

United States, Canada, Japan, New Zealand, United Kingdom, Philippines and other prohibited jurisdictions

Across a hundred brokers, the licence is what separates the field fastest.

Mitrade holds tier-one authorisations from ASIC and CySEC. That matters more than any headline spread: it determines your leverage cap, whether losses can exceed your deposit, and what happens to your money if the firm fails.

It also operates an offshore entity (CIMA and FSC). Which one you are onboarded to depends on where you live, and the two carry very different protections - worth confirming before you deposit.

ASIC caps retail leverage at 1:30, requires negative balance protection, and obliges the broker to hold client money in a separate trust account.

CySEC licences passport across the EU and follow the 1:30 retail leverage cap, with the Investor Compensation Fund covering eligible claims.

The FSCA licenses derivative providers in South Africa without a fixed retail leverage cap, so headline leverage is often higher than an FCA or ASIC entity may offer.

Client money is held separately from the firm's own money, at Not consistently disclosed group-wide. That separation is what makes your balance recoverable if the company fails, rather than part of the pool its creditors divide up.

Negative balance protection applies, so a losing position cannot take the account below zero and leave you owing the broker money.

Covered by Jurisdiction-dependent; Cyprus ICF protection for eligible clients, which pays eligible clients up to its limit if the firm fails owing client money.

Check the licence yourself: ASIC Connect, the CySEC register of investment firms, the Mauritius FSC register of licensees, the FSCA list of regulated entities.

Minimum deposit

$50

Account types

Live CFD, Demo, Professional where available

Account currencies

Jurisdiction-dependent

Islamic account

Availability dependent on entity

Demo account

Yes

Professional account

Yes, eligible jurisdictions

Minimum trade size

Instrument-specific

Time to open

Typically minutes, subject to KYC

A short account range, which usually means less to get wrong - the pricing you are shown is close to the pricing you get.

Base currencies: Jurisdiction-dependent. Holding the account in the currency you fund it with avoids a conversion charge on every deposit and withdrawal - a cost that never shows up in a spread comparison.

The smallest position is Instrument-specific. For anyone starting carefully this matters more than the minimum deposit, because it sets the least you can put at risk on a single trade.

A demo account is available. Worth using for the platform rather than the results: fills are simulated, so it tells you how the software behaves but very little about execution.

Deposit methods

Visa, Mastercard, bank transfer, Skrill, Neteller, Worldpay and regional methods

Withdrawal methods

Bank transfer, cards, e-wallets and supported original funding methods

Deposit time

Many electronic methods fast/instant

Withdrawal time

Method-dependent

Local payment methods

Yes, country-dependent

Withdrawals are stated at Method-dependent, against Many electronic methods fast/instant for deposits. A gap between the two is normal and not in itself a warning sign - identity checks are a legal obligation, not obstruction. What is worth noticing is a withdrawal that keeps meeting new conditions after those checks are done.

Withdrawal routes: bank transfer, cards, e-wallets and supported original funding methods. Money is usually returned by the route it arrived on, so the deposit method you pick is in effect the withdrawal method you are picking too.

Support hours

Region/entity-dependent

Contact channels

Live chat, email, Help Centre

Languages

Multilingual

Telephone

+61 3 9606 0033 for Australian entity

Email

cs@mitrade.com; cs.au@mitrade.com for Australia

Live chat response

Available

Education

Extensive articles, guides and trading education

Research

Real-time news, market analysis, technical tools and trading insights

Support hours are Region/entity-dependent. Check they overlap the sessions you actually trade - cover that ends with the local business day is no use during an overnight move.

Reachable by live chat, email, help centre. A published telephone number is the one channel that is hard to fake and hard to ignore, so whether there is one says more than the number of channels does.

Languages: Multilingual. Being able to raise a complaint in your own language is worth more than it appears, because complaints are where precision matters most.

Education: extensive articles, guides and trading education. Treat broker-published material as an introduction rather than as advice - it is produced by a firm whose revenue rises when you trade more.

Legal entity

Mitrade Holding Ltd

Company number

Cayman Islands registered company

Headquarters

Melbourne, Victoria, Australia / international group

Founded

2011

Publicly listed

No

Parent company

Mitrade Group

Employees

Approx. 200-500

Also trades as

Mitrade

Mitrade has been trading for around 15 years, through at least one full market cycle. Longevity guarantees nothing on its own, but a firm that came through 2008 and 2015 has been tested in a way a recent entrant has not.

The contracting entity is Mitrade Holding Ltd. This is the company you would actually have a relationship with, and it is worth checking that it is the same one named on the licence you are relying on: large brokers commonly operate several, and they are not equally protected.

Part of Mitrade Group. A parent adds resources, but the protections that apply to you are the ones attached to the entity that holds your account, not to the group.