MiTrade does offer a Demo Account that mimics a live trading account and offers many features for traders. Traders have access to the same functions, features, and options that they normally would on a live trading account.
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 Demo Account – 6 key point quick overview:
MiTrade at a Glance- MiTrade Overview
- How to set up a MiTrade Demo Account – Step by Step
- MiTrade Customer Reviews
- MiTrade Pros and Cons
- Frequently Asked Questions
MiTrade Overview
The demo account offered by MiTrade mimics a live trading account. Through the demo account, traders have access to the same functions, features, and options that they normally would on a live trading account.
The demo account with MiTrade starts off with $ 50 000 virtual monies so that you can familiarize yourself with the functions of the in-house platform without capital risk.
Traders should be aware that with the demo account they cannot withdraw any profits which are made on the demo account.
A demo account is also referred to as a practice account. It provides traders with the freedom and ability to search the broker’s offering without running the risk of any financial losses since they trade with virtual money.
Beginner traders usually utilize demo accounts to familiarize themselves with a live trading environment. They can build up their trading skills by actively participating in trades and developing their own trading strategies.
Demo accounts are not only for beginners, but they can also provide more advanced traders with the opportunity to explore what MiTrade has to offer.
How to set up a MiTrade Demo Account – Step by Step
1. Step 1 – Register an account
On the homepage of MiTrade, click on the banner on the right-hand top corner of the page that states ‘Create account’.
2. Step 2 – Complete regtration
A new page will open where traders will be requested to complete a registration form by filling in their email addresses and selecting a password. Traders are warned that they must be 18 years or older to register with Mitrade.
When clicking the banner to continue traders should be aware that they acknowledge and agree to the broker’s privacy notice. In addition, to register on the website, traders also have the option to register through their Facebook, google, or apple accounts. Traders are now instantly redirected to a demo account platform. They can start to explore what MiTrade has to offer and how the platform works. They can practice trading, test strategies, and more.
3. Step 3 – Verify account
If traders do not want the option to continue with the demo account, they can switch to a live account application form. Afterwhich they will receive a verification email.
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 does offer a Demo Account that mimics a live trading account and offers many features for traders. Traders have access to the same functions, features, and options that they normally would on a live trading account.
You might also like: MiTrade Account Types
You might also like: MiTrade Review
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You might also like: MiTrade Sign Up Bonus
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
Can South African traders open a MiTrade demo account?
Yes, traders from South Africa can open a demo account with MiTrade
For how long is the MiTrade demo account valid?
The MiTrade demo account is valid for 90-days.
Does MiTrade allow practice trading?
Yes, a MiTrade demo account is available for the purpose of practice trading.
What are the available deposit currencies for a live trading account?
The only currencies available is USD and AUD.
Is MiTrade a good broker choice for beginners?
Yes, according to our research, MiTrade is a good choice for beginner traders.
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