At a glance
- Minimum deposit
- $20
- Platforms
- Mitrade WebTrader, iOS, Android, Proprietary
- Regulators
- ASIC, CySEC, CIMA, FSC, FSCA, CMA
- Leverage
- 200
Our Verdict on Mitrade
4.2/5Overall score
Risk warning: CFDs and leveraged trading can result in rapid losses, including the loss of your trading capital. Make sure you understand the risks before trading.
Mitrade is best suited to mobile-first CFD traders who want a proprietary platform, integrated market material and one Standard account without standard dealing commission. Web and mobile access, demo trading and structured lessons support a straightforward starting point. The trade-off is a CFD-focused service: stock and crypto products do not provide ownership, and copy trading and API trading are unavailable. Floating spreads are not the only potential cost; overnight financing, conversion charges and dormancy fees can also affect returns. The legal protections attached to an account depend on its contracting entity, as detailed below.
| Best for | Mobile-first CFD traders who value a simple interface and lessons that are easy to work through. |
|---|---|
| Not ideal for | Investors seeking direct ownership of shares or crypto, or traders requiring copy trading or API access. |
| Biggest strength | A proprietary web and mobile platform with integrated charting, alerts, market material and learning resources. |
| Main drawback | CFD-only exposure for the listed stock and crypto products, alongside floating spreads and additional possible holding and account fees. |
How we reviewed it: This review assesses Mitrade’s listed account terms, fees, regulation, platforms, markets and funding information. It does not report first-hand account or execution testing. See our review methodology.
What stands out
- Proprietary web and mobile platforms include charting, price alerts and position controls.
- No standard dealing commission on the Standard account.
- Demo account and structured education resources are listed.
- Deposit and withdrawal fees are listed as none.
What to consider
- Overnight financing, currency conversion and a monthly dormancy charge can apply.
- Stock and crypto products are CFDs and do not confer ownership of the underlying assets.
- Copy trading and API trading are listed as unavailable.
- The Islamic account is restricted to specific CMA-regulated Middle Eastern/UAE entities.
Mitrade at a Glance
| Feature | Broker disclosures and checked findings |
|---|---|
| Founded | 2011 |
| Regulator / licence | ASIC (398528), CySEC (438/23), CIMA (1612446), FSC Mauritius (GB20025791), FSCA (54842) and CMA (20200000397); the contracting entity depends on the client’s location. |
| Minimum initial deposit | $20–$50, depending on payment method. |
| Account types | Standard; an Islamic account is restricted to specific CMA-regulated Middle Eastern/UAE entities. |
| Trading platforms | Mitrade WebTrader, iOS and Android. |
| Markets | Forex, indices, commodities, stocks, bonds, cryptocurrencies and ETPs; availability and product type vary. |
| Maximum leverage | Up to 1:200 under offshore/international entities; up to 1:30 for retail clients under ASIC and CySEC rules. Limits vary by product and entity. |
| Account / funding currencies | USD and AUD account currencies. |
| Demo account | Yes |
Is Mitrade Safe, Legit and Regulated?
4.3/5Area score
Overall review score: 4.2
Mitrade lists oversight from ASIC, CySEC, CIMA, FSC Mauritius, FSCA and CMA, but protections attach to the contracting entity rather than the brand as a whole. Mitrade Global Pty Ltd is the Australian ASIC entity (licence 398528), MiTrade EU Limited is authorised by CySEC (licence 438/23), Mitrade International Ltd is listed with the FSC Mauritius (GB20025791), and Mitrade Markets (Pty) Ltd appears on the FSCA register (54842). The entity assigned to a client determines which protections apply.
Regulation and Client Protections
| Regulatory question | Documented finding and limitations |
|---|---|
| Contracting legal entities | Mitrade Global Pty Ltd (Australia); MiTrade EU Limited (EEA / Cyprus); Mitrade International Ltd (International / Mauritius entity (subject to exclusions)); Mitrade Markets (Pty) Ltd (South Africa (or clients routed to SA entity)) |
| Regulators / jurisdictions | ASIC (Australia); CySEC (EEA / Cyprus); FSC (Mauritius) (International / Mauritius entity (subject to exclusions)); FSCA (South Africa (or clients routed to SA entity)) |
| Licence / registration | ASIC: 398528; CySEC: 438/23; FSC (Mauritius): GB20025791; FSCA: 54842 |
| Client-money arrangements | Mitrade states that client funds are segregated. |
| Negative balance protection | Mitrade lists negative balance protection. Australian retail CFD clients have this protection; terms for other entities and client categories may differ. |
| Investor compensation | Clients of Mitrade’s Cyprus ICF-member entity may qualify if that firm cannot return protected client assets. The limit is the lesser of 90% of the covered claim and €20,000. This does not establish equivalent cover for accounts elsewhere in the group. |
Australian retail CFD clients have leverage caps and margin close-out requirements; professional clients may be treated differently. Cyprus ICF compensation applies only to qualifying clients of the Cyprus entity if the firm cannot return protected client assets. It is not cover for trading losses or a guarantee of compensation for other Mitrade accounts.
Mitrade Fees, Spreads and Commissions
3.8/5Area score
Overall review score: 4.2
The Standard account’s lack of standard dealing commission does not make trading cost-free: the floating spread is only one part of the total. Holding positions overnight, trading across currencies or leaving an account inactive can add separate charges.
Spreads, Commissions and Total Trading Costs
The Standard account is described as having floating spreads from 0.6 pips. Spreads vary by instrument and market conditions, while overnight financing may apply to positions held past settlement.
Other Trading and Non-Trading Fees
| Fee | Amount / trigger | Conditions |
|---|---|---|
| Overnight financing, swap or margin interest | Positions held past settlement time may have overnight funding; the rate is product-specific and shown in the platform. | Positions held past settlement time may have overnight funding; the rate is product-specific and shown in the platform. |
| Currency conversion | Currency conversion is not always free. Deposits, withdrawals, trades or settlements in another currency may attract a markup, with rates differing by entity, product and method. | Deposits, withdrawals, instruments and realised profit or loss can all require conversion if their currency is different from the account’s. The rate depends on the product, entity and route. |
| Inactivity | After over six months without trades or open positions, Mitrade charges a USD 10 monthly dormancy charge. | Once there have been no trades or open positions for over six months, the charge continues until activity restarts or the balance is depleted. |
| Deposits / withdrawals | Deposit: No; Withdrawal: No | Deposit: No general broker deposit fee is listed (method-specific or third-party charges may apply); Withdrawal: Mitrade usually applies no standard broker withdrawal charge; bank or payment-service charges may be shown for the selected withdrawal method. |
For frequent traders, the spread is the recurring entry cost; for longer holds, product-specific overnight funding can become material. Cross-currency activity may also incur conversion costs.
Which Mitrade Account Should You Choose?
3.9/5Area score
Overall review score: 4.2
Mitrade lists one Standard account rather than a choice of commission-based pricing tiers. Its floating-spread, no-standard-commission structure may be easier to compare when choosing an account, but the relevant cost still depends on the instrument, trade size and holding period. The stated minimum initial deposit is $20–$50 depending on payment method; this does not establish a universal opening minimum. An Islamic account is available only through specific CMA-regulated Middle Eastern/UAE entities, so it is not a general alternative for all clients.
Mitrade Trading Platforms
4.0/5Area score
Overall review score: 4.2
Mitrade’s WebTrader and mobile apps put charting and position management in the same proprietary workflow: traders can follow multiple timeframes, set alerts and use stop-loss and take-profit controls. These tools support manual monitoring and order management, but the platform information does not document custom algorithm development.
Desktop, Web and Trading Platforms
| Platform | Availability | Evidence-backed strength or limitation |
|---|---|---|
| Mitrade WebTrader | Web, Mobile | The platform lets you analyse prices and place orders online. Automation beyond ordinary order controls hasn't been verified in its built-in tools. |
| iOS | Mobile | This is a mobile trading interface rather than a bot-development tool. You can follow markets and manage trades, but custom automation isn't documented. |
| Android | Mobile | The app is intended for trading, monitoring prices and managing positions on mobile. There's no documented tool for building custom algorithms inside it. |
Markets and Instruments Available
4.5/5Area score
Overall review score: 4.2
| Asset class | Products offered | Restriction |
|---|---|---|
| Forex | Leveraged FX (CFD / rolling spot); 60 | Forex positions held overnight may incur swap or financing charges. Available currency pairs and margin requirements depend on the account. Leverage can reach 1:30 for eligible clients. |
| Indices | Index CFDs; 19 | Index CFDs follow index prices without giving traders ownership of the underlying shares. Holding costs, rollovers and trading hours depend on the contract. Leverage can reach 1:20 for eligible clients. |
| Commodities | Commodity CFDs; 14 | Commodity CFDs provide price exposure without physical delivery. Some contracts have expiry dates or require a rollover. Financing charges may also apply. Leverage can reach 1:20 for eligible clients. |
| Stocks | Stock CFDs; 250 | Stock CFDs track share prices without giving traders ownership or voting rights. Overnight positions may incur financing charges. The share range and margin requirements vary by account. Eligible clients may use leverage up to 1:5. |
| Bonds | Bond trading availability unverified; No verified tradable bond-CFD count | Bond trading availability and the total number of instruments have not yet been verified. |
| Crypto | Crypto CFDs; 61 | Crypto derivatives track prices without giving traders coins to hold in a wallet. UK retail clients cannot trade these derivatives. Eligible clients in permitted jurisdictions may use leverage up to 1:2. |
| ETFs | ETF CFDs; Exact market-specific ETF count not publicly disclosed | ETF CFDs track fund prices without giving traders ownership of ETF units. Overnight positions may incur financing charges. The ETFs available and their margin requirements depend on the account and region. The exact number and selection of ETFs have not been fully verified and may vary by account. Eligible clients may use leverage up to 1:5. |
Mitrade’s listed stock, crypto, index, commodity and ETF products are CFDs: they provide price exposure, not the underlying shares, coins, physical commodities or fund units. This distinction matters to anyone seeking ownership rights or assets held outside the trading account. Bond availability remains unverified, and UK retail clients cannot trade the listed crypto derivatives; other product access and leverage depend on account and jurisdiction.
Execution, Trading Tools and Research
4.1/5Area score
Overall review score: 4.2
For market preparation, Mitrade lists analysis, trading ideas, an economic calendar, forecasts, sentiment, charts and news; Basics, Academy and Insights provide lessons on instruments, market principles and common strategies. These resources are separate from execution: copy trading, social trading and API trading are listed as unavailable. Mitrade also warns that fast prices, major announcements and thin markets can lead to slippage; this is a risk disclosure, not a measured execution result.
Mitrade Deposits, Withdrawals and Account Opening
4.5/5Area score
Overall review score: 4.2
Mitrade requires identity verification (KYC). The stated minimum initial deposit is $20–$50 depending on payment method, and available routes and terms can vary by region. The funding table lists the broker’s fees and processing times for the available methods.
Account Opening and Identity Verification
KYC is required, but the exact approval steps, required documents and processing time are not established here.
Deposit and Withdrawal Methods
| Method | Deposit / withdrawal availability | Broker fee | Processing time |
|---|---|---|---|
| Bank transfer | Deposits are available; the minimum amount is not specified. Withdrawals are available; the minimum amount is not specified. | No broker fee applies to deposits. No broker fee applies to withdrawals. | Deposit processing time: up to 3 minutes. Withdrawal processing time: 1–3 business days. |
| Debit / credit card | Deposits are available; the minimum amount is not specified. Withdrawals are available; the minimum amount is not specified. | No broker fee applies to deposits. No broker fee applies to withdrawals. | Deposit processing time: up to 3 minutes. Withdrawal processing time: 1–3 business days. |
| E-wallets | Deposits are available; the minimum amount is not specified. Withdrawals are available; the minimum amount is not specified. | No broker fee applies to deposits. No broker fee applies to withdrawals. | Deposit processing time: up to 3 minutes. Withdrawal processing time: 1–3 business days. |
Customer Support
Support is listed as available 24/5 through live chat, email and phone, although channels depend on region. Listed languages include English, Spanish, Portuguese, German, French, Italian, Polish, Dutch, Chinese, Korean, Vietnamese, Thai, Indonesian, Malay, Hindi, Arabic, Russian and Turkish. The support centre covers accounts, payments, margin and orders. Contact email: [email protected]; phone: +61 3 9606 0033.
Who Should Choose Mitrade?
The choice is most straightforward for traders who want mobile CFD access and do not need copy trading or API execution. It is a poor match for investors seeking direct share or crypto ownership; the relevant product is a CFD, not an asset held in an investment or wallet account.
| Profile | Fit | Decisive reason |
|---|---|---|
| Mobile-first CFD trader | Good, if the regional terms fit | Web and mobile trading are available, with charting, alerts and position controls. |
| Investor seeking direct share or crypto ownership | Poor | Stock and crypto products are CFDs; they do not provide ownership of shares or coins. |
| Trader needing copy trading or API access | Poor | Copy trading and API trading are listed as unavailable. |
Mitrade vs Alternatives
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Before opening an account, confirm that your entity permits the specific CFD markets you intend to trade; bond availability is unverified, and UK retail clients cannot trade crypto derivatives.
FAQs
Which regulators oversee Mitrade?
Mitrade lists ASIC, CySEC, CIMA, FSC Mauritius, FSCA and CMA regulation. The contracting entity and protections depend on the client’s location; examples include Mitrade Global Pty Ltd under ASIC and MiTrade EU Limited under CySEC.
What account types does Mitrade offer?
The Standard account has floating spreads and no standard dealing commission. An Islamic account is limited to specific CMA-regulated Middle Eastern/UAE entities.
What trading fees can apply at Mitrade?
Floating spreads apply, but the Standard account has no standard dealing commission. Overnight financing, currency conversion and a USD 10 monthly dormancy charge may also apply after more than six months without trades or open positions.
Which platforms can I use with Mitrade?
Mitrade offers WebTrader and mobile apps for iOS and Android, with charts, multiple timeframes, stop-loss and take-profit controls, price alerts, news and sentiment.
What markets does Mitrade offer?
Listed markets include forex, indices, commodities, stocks, bonds, cryptocurrencies and ETPs. Many products are CFDs rather than ownership of the underlying asset; bond availability is unverified, and access varies by region.
How long do Mitrade deposits and withdrawals take?
Bank transfers, cards and e-wallets are listed for deposits, with processing up to three minutes; withdrawals are listed as taking one to three business days. Mitrade states that it charges no deposit or withdrawal fee.