MiTrade offers 1 live trading account, a Standard account, MiTrade also offers a Demo account where traders can learn the basics of Forex trading.
MiTrade at a Glance
| Broker's Name | Mitrade |
| 🏛️ Headquarters | Melbourne, Australia |
| 📅 Year Founded | 1992 |
| ⚖️ Regulating Authorities | ASIC |
| ⏳ SIB | license number is 1612446. |
| 🌐 Countries not accepted for trade | The United States of America, Canada and Japan |
| 📌 Accounts | Standard Live Account |
| ☪️ Islamic account (swap-free) | No |
| 📒 Demo Account | Yes |
| ✴️ Institutional Accounts | Yes |
| 👨🏼💼 Managed Accounts | No |
| ⬆️ Maximum Leverage | 1:200 |
| 👉 Sign Up Bonus | No |
| 💰 Minimum Deposit | $1000 USD / R16000 ZAR |
| Spread | floating spreads, with the actual spread depending on the type of product |
| 💳Fees | No Deposit or withdrawal fees |
| 💳 Deposit Options | Skrill, Moneybookers, Poli, Visa, Mastercard and Wire Transfer |
| 💳 Withdrawal Options | Skrill, Moneybookers, Poli, Visa, Mastercard and Wire Transfer |
| 📊 Platform Types | Mitrade’s own web based platform and their own mobile platform |
| 📶 OS Compatibility | Yes, both mobile and pc |
| 📈 Tradable assets offered | 60 currency pairs, CFDs, Commodities, 11 indices and Cryptocurrencies |
| 💬 Languages supported on Website | English, Chinese simplified, Chinese traditional, Korean, Thai and Vietnamese |
| 💬 Customer Support Languages | English, Chinese simplified, Chinese traditional, Korean, Thai and Vietnamese |
| ⏲️ Customer Service Hours | 24hrs a day, seven days a week. |
| 🔎 Open an Account | 👉 Click Here |
Min Deposit
USD 1000
Regulators
ASIC
Trading Platform
Proprietary Platform
Crypto
Yes
Total Pairs
60
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
Choose your quick section of our MiTrade below.
MiTrade Account Types – 9 key point quick overview:
MiTrade at a Glance- MiTrade Overview
- MiTrade Account Types
- MiTrade Demo Account
- MiTrade Islamic Account
- MiTrade Customer Reviews
- MiTrade Pros and Cons
- MiTrade Conclusion
- Frequently Asked Questions
MiTrade Overview
MiTrade is a forex broker that headquarters in Melbourne, Australia. It was established in 1992 by a team of professionals who specialize in trading, financial technology industries, and contracts for difference (CFDs).
The broker is committed to providing investors with a simple and convenient trading experience through the provision of one live trading account for individuals. It does not offer any corporate accounts or joint accounts.
MiTrade is run by a company called MiTrade Global Pty Ltd and through this company, the broker adheres to strict regulatory standards. At present, it is regulated through two regulatory bodies.
MiTrade Global is authorised and regulated by the Australian Securities and Investments Commission (ASIC) and holds an Australian Financial Services Licence. MiTrade Holding is authorised and regulated by Cayman Islands Monetary Authority (CIMA).
One of the most important requirements among many other strict requirements is that client funds must be kept in separate accounts that can only be used by the trader for trading and not by the broker.
MiTrade also offers protection against negative balances, allowing the trader to control the trading risk and trade with peace of mind. The broker does not conduct speculations in any market and audits are conducted by an independent accounting firm.
The broker offers its in-house trading platform which has won several awards such as the Best Mobile Trading Platform for three years in a row as well as the Most Innovative Brokerage Firm.
Through the in-house trading platform, traders have access to international financial markets and can trade in currencies, indices, commodities, and shares.
The company’s goal is to provide a trading environment that is easily accessible and user-friendly, they believe their comprehensive strategy gives them a better understanding and awareness of industry development and market demand.
MiTrade offers competitive transaction costs, fast transaction execution, and world-class customer service 24/7. In addition, it has a variety of educational and research tools, to assist traders in investment and trading opportunities.
Clients not accepted by MiTrade are those from the United States, Canada, Japan, and New Zealand.
MiTrade Account Types
| 💠Feature | 📈 Standard Account |
| 📊 Minimum Deposit | $1000 USD /R16000 ZAR |
| 💵 Fees | No Deposit fees / No withdrawal fees |
| 💳 Leverage | 1:1000 |
| 👉 Open an Account | 👉 Click Here |
MiTrade offers only one live trading account to individuals. Besides this, the only other account type offered is a demo account. If you register for an account, a demo account is automatically opened which can immediately be switched to a live account.
To open a live account, clients first need to register with MiTrade. This can be done on the broker’s website or clients can do it through their Facebook or Google accounts.
Through this one live account, MiTrade offers competitive trading conditions along with comprehensive solutions and services.
Not much information is available on the live trading account, but it does not require any minimum deposit. Tight spreads are offered which start at 0.8 pips on the maximum leverage of 1: 200.
MiTrade Demo Account
The demo account offered by MiTrade can be utilized in many ways since it is seen as a practice account. It is usually utilized by beginner traders who wish to improve their trading skills and experiences in a risk-free environment using virtual funds.
More advanced traders who want to evaluate and compare brokers can also register for a demo and then explore MiTrade’s’ trading conditions in a risk-free environment.
Advanced traders can test their trading strategies in a mimicked live trading environment by opening a demo account without risking their capital.
The demo account has the same features as the live account type and allows traders to practice trading without any risk involved.
With MiTrade the opening of a demo account is automatic, digital, and hassle-free. It starts off with USD50,000 or AUD50,000 virtual monies to allow you to familiarise yourself with the functions of the platform and is available for 90 days.
To register for a demo account can be done within a few minutes and as soon as the trader is registered, through only providing an email address and a password, demo trading can commence once the trader has downloaded and installed the proprietary platform either on the web or mobile device.
MiTrade Islamic Account
An Islamic Account’s sole purpose is that it caters only for Muslim traders who follow the Sharia law, which prevents its followers from paying any type of interest, such as overnight fees. These kinds of fees are seen as wasteful or exploitive by the Sharia law.
Overnight fees are usually charged should traders hold positions open for longer after the trading day has concluded. With the Islamic account, the exemption is allowed from such interest or fees, should they hold positions open for longer.
The features offered by an Islamic Account is usually the same as the live account type as far as minimum deposit, spreads, fees etc. is concerned.
However, MiTrade does not offer an Islamic Account to Muslim traders who follow the Sharia law.
MiTrade Customer Reviews
It ‘s good App
It ‘s good App. I like very much.
very good company
very good company, found a brokerage that stands behind their promise
Good trading app
Easy job, I can try to make money with the trading bonus MiTrade app. thank you. s.
MiTrade Pros and Cons
| ✔️ Pros | ❌ Cons |
| Regulated by ASIC | Only one trading platform, no MT4 |
| High level of online support | No trading bonus for loyal customers |
| Competitive transaction costs | No welcome bonus, deposit bonus, and no other broker bonuses are offered with first time sign up |
| Offers a referral bonus | Demo account expires after 90-day |
| Offers competitive and attractive trading conditions | Only one live account type offered |
| Demo account sign-up fully digital | No Islamic Account offered |
| In-house platform offered | Conversion fees charged |
| Sign-up is completed in minutes | Currency conversion fees may apply |
| Strictly regulated | |
| 24/7 online customer support offered | |
| Commission-free trading offered | |
| No hidden costs | |
| Offers educational tools | |
| Offers research tools | |
| Regulated through ASIC and CIMA | |
| Segregated client funds used | |
| The proprietary trading platform offered | |
| Competitive trading conditions | |
| Offer tight spreads |
MiTrade Conclusion
Overall, MiTrade offers 1 live trading account, a Standard account, MiTrade also offers a Demo account where traders can learn the basics of Forex trading.
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Min Deposit
USD 1000
Regulators
ASIC
Trading Platform
Proprietary Platform
Crypto
Yes
Total Pairs
60
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
Frequently Asked Questions
How many instruments can I trade with MiTrade?
You can trade several different instruments with MiTrade, including 60 currency pairs, CFDs, Commodities, 11 indices and Cryptocurrencies
Does Mitrade offer a demo account?
Yes. The broker does offer a demo account that has the same features as the live account.
Does Mitrade offer the option of an Islamic Account?
No. Mitrade does not offer the option of an Islamic Account for traders of the Muslim faith.
Which live trading accounts does Mitrade offer?
Mitrade offers only one individual personal live account type.
Is Mitrade regulated?
Yes, Mitrade is regulated by the ASIC (Australian Securities and Investments Commission) and Cayman Islands Monetary Authority (CIMA).
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