Mitrade Review 2025

Trust

Mitrade Regulations

In our reviews, we examine the licenses and regulations of each entity operated by a broker, allowing us to compare their different levels of protection. We rank licenses by various regulatory bodies on a three-tier system, where Tier-1 licensing indicates the highest level of regulation.

This is what I discovered about the four entities operating under the Mitrade trade name:

• Mitrade EU Limited is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 438/12. We rate CySEC as a Tier-1 regulator.
• Mitrade Global Pty Ltd is licensed and regulated by the Australian Securities and Investments Commission (ASIC) under license number 398528. We rate ASIC as a Tier-1 regulator.
• Mitrade Holding Ltd is licensed and regulated by the Cayman Islands Monetary Authority (CIMA) under license number 1612446. We rate CIMA as a Tier-3 regulator.
• Mitrade International Ltd is licensed and regulated by the Financial Services Commission (FSC) of Mauritius under license number GB20025791. We rate the FSC as a Tier-3 regulator.

Understanding the Regulatory Protections of Your Account

Brokers operate multiple entities to serve clients worldwide. However, licenses obtained from regulators in different jurisdictions do not always entail the same degree of protection.

Some regulators mandate compliance with the strictest financial frameworks, while others are less rigid. That is why traders must familiarize themselves with the safety mechanisms ensured by the entity they want to open an account.

Here is what you need to be looking for in a broker in terms of safety mechanisms:

• Segregation of client funds. Keeping client funds in segregated bank accounts from the ones used for the broker’s corporate capital negates the risk of accounting errors. All Mitrade entities ensure the segregation of client funds.
• Negative balance protection. This safety mechanism removes the risk of trading losses exceeding the account balance. In other words, the losses you incur from trading are capped at the amount you have put in your trading account. All entities ensure negative balance protection.
• Compensation scheme. A compensation scheme protects traders against the broker’s liabilities if the company becomes insolvent. Clients of Mitrade EU Ltd are protected by up to EUR 20,000 under the Investor Compensation Scheme (ICF).
• Maximum leverage. Capping the maximum leverage restricts the extent of market exposure to retail traders. The higher the leverage, the higher the potential profits and potential losses. The maximum leverage with Mitrade is 1:400, available with Mitrade International Ltd.

Stability and Transparency

In our Trust category assessments, we evaluate factors tied to stability and transparency, including the broker’s longevity, company size, and information transparency.

I reviewed Mitrade’s Client Agreement and found it to be clear, unambiguous, and comprehensive, containing all relevant information regarding trader protections.

The broker has implemented a ‘best execution policy,’ a legal mandate that requires brokers to provide the most optimal price quotes under prevailing market conditions. Additionally, Mitrade has a strict Client Categorization policy, which ensures that traders receive services tailored to their experience level.

Is Mitrade Safe to Trade With?

I concluded that Mitrade is safe to trade with due to the following factors:

• Authorized by four regulators
• Has a ‘best execution policy’
• Provides transparent legal documents

Fees

Mitrade Trading Fees

Mitrade Spreads

I tested Mitrade’s spreads on 28 June 2024 during the London and the New York open. The results are shown in the table below:

Broken down by asset class and compared to the industry average, Mitrade offers low spreads on share CFDs, low-to-average spreads on currency pairs, average spreads on commodities and indices, and high spreads on cryptocurrencies.

Mitrade Swaps

A swap fee is a trader’s cost for holding an open position overnight because of changing interest rates. Swap long refers to the charge deductible or credit receivable for holding a buy position open overnight. In turn, swap short relates to the charges/credits deductible or receivable for holding a selling position open overnight.

The values listed below are for one full base currency contract (100,000 units).

My research indicates that Mitrade’s swaps were better than the industry average. Low swaps are suitable for longer-term trading, such as swing and position trading.

Mitrade’s Non-Trading Fees

Deposits and withdrawals with Mitrade are free of charge, however, third-party banking fees may apply. Furthermore, the broker does not charge an inactivity fee for dormant accounts.

Accounts Comparison

I have compiled the table below to help you better understand the difference between the trading fees of Mitrade’s retail account and the industry average. It illustrates the spreads and commissions I have recorded for the EUR/USD pair and compares them against the typical costs for ECN and STP accounts in the industry at large.

The table demonstrates how much you would have to pay to trade 1 full lot (100,000 units) in EUR/USD with a pip value of $10 for each account.

To calculate the cost of such a full-sized trade, I used this formula: Spread x pip value+commission

According to my findings, Mitrade’s combination of zero commissions and low floating spreads outperformed the industry average. It is suitable for intraday and swing trading.

Are Mitrade’s Fees Competitive?

The competitiveness of Mitrade’s fees depends on the traded instrument. For example, Mitrade’s spreads on share CFDs and some currency pairs are extremely competitive, though its Bitcoin spread is rather elevated. The broker also does not charge inactivity fees and deposit and withdrawal fees in most cases.

Platforms and Tools

Mitrade Web Platform

I tested the web trader version of Mitrade’s proprietary platform, which features advanced charting capabilities powered by the seamless TradingView. The platform provides over 150 analytical tools, such as technical indicators, drawing tools, and other chart configurations, accommodating the needs of technical traders and chart artists.

The standout feature of Mitrade’s web trader is its fluid charts, which help technical traders examine price action behavior in great detail. The flexibility of a chart is determined by how easy it is to track price action up and down. What I liked about Mitrade’s platform is that no matter how much you zoom in and out, you never lose your sense to track.

General Ease of Use

The outline of Mitrade’s web trader is pretty straightforward and easy to navigate. The upper panel displays the various settings, the order execution panel and market research are displayed on the right-hand side, and the price charts occupy the middle section of the screen.

Charts

I consider the charts screen a platform’s most important feature. It facilitates technical analysis by providing an overview of price action behavior. Chartists use many analytical tools and chart configuration possibilities to examine it from multiple angles. In my experience, the really important aspect of a chart is how easy it is to scale price action up and down, which is made easy on Mitrade’s web trader.

Unlike other retail platforms, Mitrade’s charts are not easily crowded when adding two or more indicators, helping traders better assess the underlying market behavior. Price action is clearly represented and easily scalable.

I have broken down the available analytical tools and chart configurations below:

• 88 technical indicators. The platform supports trend-based, volume-based indicators, oscillators, and more. These can be applied to study price action behavior and determine the underlying market sentiment. In general, technical indicators are used to gauge where the market is likely to head next.
• 74 drawing tools. Drawing tools, such as Fibonacci retracement levels and Elliott waves, are used to study repeatable price patterns. Additionally, they can be applied to determine key support and resistance levels and potential breakout or breakdown levels.
• 10 timeframes. Mitrade’s web trader allows multi-timeframe analysis of price action behavior. The greater the timeframes, the more intricate examinations can be carried out across the short-term and long-term.
• 9 chart types. Price action can be represented as a line, bars, or candlesticks. This diversity enables traders to examine potential trading opportunities from different angles.

Orders

Trades can be placed in several ways on the Mitrade web trader platform. They can click ‘New Order,’ which is found on the right-hand side of the main panel, and then choose between ‘Exchange Execution’ (market orders) and ‘Pending Order’ (limit and stop orders).

Notably, the platform allows traders to regulate their leverage rate per trade, giving them greater flexibility in managing their overall market exposure.

I have broken down the available order types on the Mitrade web trader platform below:

• Market orders. Market orders are used for immediate entry at the best possible price. If triggered, they guarantee volume filling, though there could be a discrepancy between the requested price and the price at which the order is filled.
• Limit orders. Unlike market orders, limit orders guarantee exact price execution. However, a limit order will not be filled if the price action does not reach the pre-determined execution price.
• Stop orders. They are used to support open positions by limiting the maximum loss that can be incurred if the market turns in the opposite direction. A stop-loss order is placed at a fixed price below or above the spot price. If the market does indeed turn and triggers the stop-loss, it will transform into a market order and get filled at the best possible price.

Mitrade Web Platform: My Key Takeaways

Using Mitrade’s web trader platform was a breeze, and I particularly appreciated the integration of TradingView charts. The detailed display makes analyzing price action straightforward and efficient. My only complaint is that the lowest available time frame is one minute, which limits the ability to thoroughly examine intraday trading opportunities.

Mitrade Mobile App

Mitrade’s trading app offers quick and easy access to the market on the go and is available on both Android and iOS devices. The app allows users to monitor live market trends and real-time news, view trading analysis, and access charts with technical indicators and drawing tools for technical analysis. The simple interface is particularly useful for opening, closing, and adjusting positions, enabling traders to trade easily and effectively anytime, anywhere.

Mitrade App: My Key Takeaways

Mitrade’s app is simple and easy to navigate, and even newbie traders can quickly make their way around it. I appreciated the fully integrated research content available directly in the app. It makes it easier for traders to make important trading decisions promptly without leaving the app.

Tradable Instruments

Compared to the industry average, Mitrade offers an average number of currency pairs and share CFDs and a high number of commodities, indices, and cryptocurrencies. The instruments offered are suitable for implementing a wide variety of trading strategies.

What Are CFDs?

Contracts for difference (CFDs) are OTC derivatives used to speculate on the underlying asset’s price without physical delivery.

For example, a long position on gold would generate profit as the price rises or incur a loss as it falls, all without the need to purchase actual gold bars.

One of the biggest advantages of trading CFDs is that traders can get in and out of the market almost instantaneously, thereby catching even minute changes in the price of the derivative.

What Can You Trade With Mitrade?

Mitrade’s Instruments: My Key Takeaways

Mitrade’s range of instruments is diverse and extensive. Traders can choose from markets with different associated risks, allowing them to choose based on their level of risk aversion. In the future, Mitrade can improve upon its instrument offering by providing alternatives to CFDs, such as futures contracts or vanilla options.

Customer Support

Customer Support Channels

Customer Support Test

When we test a broker’s customer support, we evaluate the agent’s knowledge of their own website, how long it takes them to respond to questions, and how detailed their answers are.

I conducted my test via live chat on 27 June at around 08:28 a.m. CET. An agent connected almost instantaneously, and I asked a series of questions with varying degrees of complexity.

Overall, the agent’s answers regarding their execution model were detailed and well-structured. However, when I inquired about Mitrade’s average execution speed, the agent did not provide me with a straight answer.

Deposit and Withdrawal

Mitrade’s Deposit Methods

Mitrade’s Withdrawal Methods

Account Types and Terms

Mitrade Account Opening Process

To set up a live account with Mitrade, follow these easy steps:

1. Click ‘Trade Now’ at the top-right corner of the main page.
2. Select your country of residence.
3. Provide an email address and request a verification code, which you need to confirm.
4. Set a password for your account.
5. Complete your personal information.
6. Complete your financial/employment information.
7. Upload proof of ID and address to verify your account.

Mitrade’s Account Types

The pricing mechanism of Mitrade’s standard account features commission-free trading and floating spreads from 0.6 pips, which is better than the industry average. Moreover, the account type is quite accessible because of its low deposit requirement.

Demo Accounts

Mitrade offers a demo account that introduces traders to the broker’s services and allows them to tweak their strategies in a risk-free environment. The market is continually evolving and never static, so it is important to hone your skills in a safe environment. You can set up a demo account along with a live CFD account.

Islamic Account

Mitrade does not offer Islamic accounts for swap-free trading on its European entity.

What is CFD Leverage?

Leverage determines a trader’s overall market exposure. When trading Contracts for Difference (CFDs), positions can be opened for a fraction of their value because of leverage. Essentially, the broker lends the trader money so that the latter can open bigger trading positions. Leverage multiplies the profits a trader generates from winning positions but also the losses incurred from failed trades.

Maximum Leverage By Asset Class

In the table below, I have listed the maximum retail leverage available with Mitrade for instruments from different asset classes:

Mitrade Restricted Countries

Mitrade does not accept clients from Belgium, Belarus, China, Congo, Iran, Japan, Libya, North Korea, Russian Federation, Somalia, South Sudan, Sudan, Syria, the United States, the United States Virgin Islands, Ukraine, American Samoa, Guam, North Mariana Islands, Yemen, and Puerto Rico.

Research

Research Tools

• Economic calendar. The economic calendar is an essential tool in a trader’s arsenal. It informs traders of upcoming market events and releases that have the potential to stir price action, thereby creating viable trading opportunities.
• Financial news. Mitrade covers recent developments in financial markets with its intuitive news screener. Traders can use it to inform themselves of currently unfolding trading opportunities and setups.
• Trading signals. Mitrade clients also receive trading signals directly on the platform and mobile app. Each signal comprises a technical setup (viable entry-level, take profit level, stop-loss level, etc.).

Mitrade’s Research: My Key Takeaways

Mitrade’s research content relies heavily on technical analysis, informing traders about the potential advantages of a given trading opportunity. I particularly appreciated that the research content is available directly on the platform and app.

The one thing lacking is a heavier reliance on fundamental analysis and trading psychology.

Education

The broker has uploaded over 30 educational videos on its YouTube channel, covering topics such as trading strategy development, risk management, and basic trading knowledge for beginners. Traders can also access free short courses on the fundamentals of trading and asset types via Mitrade Academy on the broker’s website.

However, almost no attention is paid to fundamental analysis and the psychology of trading.

The Bottom Line

Established in 2011, Mitrade is an Australian forex and CFD broker that operates four entities and is regulated worldwide. My research showed that Mitrade adheres to the strictest regulatory requirements in the industry.

The broker offers over 400 tradable instruments, has a user-friendly proprietary platform powered by TradingView, and offers competitive fees, which makes it an excellent choice for casual trading.

Among the drawbacks I found are quite narrow educational content on the European entity’s website and lack of phone support.

Overall, I assess Mitrade as a good option for traders looking for an easy-to-use platform, a decent selection of tradable instruments, and competitive trading costs.

FAQ