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MiTRADE
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MiTRADE

Australia
2010
1
8.61
Rating Index
Software
8.26
Licensed
8.59
Risk Control
9.22
Experience
8.11
Institution
8.59
Industry Classification
D
Unqualified
Trading Platforms
Proprietary, WebTrader

Basic Information

  • Registered Region
    Australia
  • Operation Status
    Normal
  • Operating Period
    2010
  • Deposit Methods
    Visa, Mastercard, Bank Transfer, E-Wallet, QR Code Payment
  • Website
  • Market Type
    Foreign exchange
  • Support Languges
    English
    Chinese
  • Main Business
    FX, commodities, digital assets, stocks, indices, CFDs
  • Business Type
    FX broker / Multi-asset
  • Social Media
  • Contact Details
  • Type of Accounts
    Live, Demo
  • Trading Platforms
    Proprietary, WebTrader
  • Withdraw Methods
    Not disclosed
  • Auto Trading
    Not disclosed

Pros and Cons

Pros: Regulated by ASIC, offers a wide range of tradable assets, strong educational support, commission-free trading with competitive spreads. Cons: Limited information available regarding the minimum deposit requirements, absence of a 24/7 customer support option, and the presence of overnight fees for certain positions.

Company Background

MiTRADE, operated by Mitrade Global Pty Ltd, is an Australian-based broker established in 2010. It is regulated by ASIC (Australian Securities and Investments Commission) and the CySEC (Cyprus Securities and Exchange Commission). As a Market Maker, MiTRADE provides a proprietary trading platform designed to cater to both novice and experienced traders. Their operational focus is global, providing access to various financial markets from their headquarters in Melbourne, Australia.

Fund Security

MiTRADE prioritizes client fund safety with regulatory compliance under ASIC and CySEC standards. Clients' funds are kept in segregated accounts, ensuring financial security and adherence to transparency criteria. They also offer a Lloyd's of London-backed Excess of Loss Insurance policy for added protection against potential trading risks. However, as with all trading, risks are inherent and investors should proceed with caution.

Account Opening

MiTRADE provides a straightforward process for account opening, allowing both live and demo accounts. The demo account includes $50,000 virtual capital for practice, while the minimum deposit for a live account is not disclosed. Identity verification is required to comply with regulatory standards before trading can commence.

Trading Fees

MiTRADE offers competitive trading fees with floating spreads that start from 1 pip on major currency pairs. The broker charges no commissions on trades, which enhances overall cost-effectiveness. Overnight fees may apply for positions held past 10:00 PM GMT, but there are no additional fees for deposits and withdrawals under normal circumstances.

Trading Instruments

Traders at MiTRADE can access a diverse range of instruments including Forex pairs, commodities, indices, stocks, and ETFs. This variety serves to attract different trading strategies and risk appetites among users.

Trading Technology

The broker operates a proprietary trading platform, with additional availability for web and mobile versions. This platform provides users with a user-friendly interface, advanced charting tools, and the capability to execute various order types efficiently.

Research and Education

MiTRADE offers educational resources and market analysis tools to assist traders in making informed decisions. This includes in-depth research reports and trading guides to enhance trader knowledge and skills.

Customer Support

Customer support is available five days a week through live chat and email. Contact options include direct email correspondence at cs@mitrade.com and a contact form on their website. However, support is not available 24/7, which may be a limitation for some traders.
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Rating Instructions
Rating Index
MiTRADE
MiTRADE
Regulated
Legal Environment
8.26
License Value
8.59
Risk Management
9.22
Investor Protection
8.11
Regulatory Policy
8.59
  • Software

    Evaluates the regulator's legal foundation, organizational structure, leadership experience, and enforcement capacity. Focuses on whether it enforces strict regulations, maintains transparency and fairness, and engages in international cooperation and technological supervision.

  • Institution

    Analyzes the regulator's policy framework, decision-making process, and enforcement transparency, including rule-making, internal control, and policy implementation effectiveness.

  • Licensed

    Assesses the market value of the licenses issued by the regulator, including entry thresholds, compliance costs, approval duration, and overall global recognition and influence.

  • Risk Control

    Evaluates the regulator's financial stability and risk management capacity, including budgeting, reserves, revenues, expenditures, and ability to respond to market or financial shocks.

  • Investor Protection

    Examines the regulator's complaint-handling and investor protection systems, assessing fairness, responsiveness, and enforcement effectiveness in safeguarding investor rights.

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