This Mitrade review explores the broker’s regulatory compliance, platform capabilities, product offering, account conditions, and client protection. Mitrade presents a streamlined trading experience with global access, ideal for traders seeking mobile-first simplicity, though some regulatory limitations exist.

Regulation and Safety

Mitrade is regulated in multiple jurisdictions:

• ASIC (Australia) – License No. 398528
• CIMA (Cayman Islands) – License No. 1612446
• FSC (Mauritius) – License No. GB20025791

While offering tier-2 regulatory oversight and segregated client funds, Mitrade lacks FCA or CySEC licenses. Investor protection schemes (e.g., FSCS, ICF) are not applicable. However, SSL encryption and 2FA login features are available.

Execution Model and Trading Platforms

Mitrade uses a Market Maker execution model. There’s no support for FIX API or VPS hosting. Traders can access the proprietary Mitrade platform via:

• Web browser (WebTrader)
• Mobile apps (iOS and Android)
• No MT4/MT5 access

The platform is user-friendly with integrated charting, indicators, and a minimal learning curve for beginners.

Markets and Instruments

Mitrade offers over 300 instruments across 6 asset classes:

• Forex: 60+ currency pairs
• Indices: Major global and regional indices
• Commodities: Gold, oil, silver, natural gas
• Shares: US, UK, HK, and AU stocks
• ETFs: Leading sector and index ETFs
• Crypto: Bitcoin, Ethereum, Litecoin, Ripple

Accounts, Spreads and Leverage

Mitrade offers a single live account type and a demo account. Features include:

• Spreads from 0.6 pips (no commission)
• Max leverage: 1:30 (ASIC), up to 1:200 (offshore)
• Stop-out level: 50%
• Minimum deposit: No fixed minimum

No ECN account is available. Account types are simplified but may not suit professional traders.

Funding and Base Currencies

Mitrade supports the following for deposits and withdrawals:

• Credit/debit cards
• Bank transfers
• Skrill, Neteller (varies by region)

Accepted base currencies include USD, AUD, EUR, GBP. Most deposits are processed instantly; withdrawals take 2–5 business days.

Client Protections and Features

• Negative balance protection
• Segregated client funds
• 2FA login and mobile biometric support
• No compensation scheme (non-EU/UK)
• Audit oversight not publicly disclosed

Institutional and Retail Offering

Mitrade caters primarily to retail clients. There is:

• No FIX API or white-label offering
• No Prime Brokerage or advanced institutional tools
• Mobile-first trading experience with strong UI/UX

Pros and Cons

Pros

• Regulated by ASIC and other regional authorities
• Low spreads with no commissions
• Intuitive proprietary trading platform
• Cryptocurrency CFDs available
• No minimum deposit required

Cons

• No MT4 or MT5 access
• Limited account types (no ECN/Islamic)
• No compensation scheme for clients
• Market Maker model not ideal for scalping
• Restricted availability in some jurisdictions

Frequently Asked Questions

Is Mitrade regulated?

Yes, Mitrade is regulated by ASIC (Australia), CIMA (Cayman Islands), and FSC (Mauritius), but it does not hold FCA or CySEC licenses.

What platforms does Mitrade offer?

Mitrade offers its own proprietary trading platform via web and mobile. It does not support MT4 or MT5.

What assets can I trade on Mitrade?

You can trade forex, indices, commodities, shares, ETFs, and cryptocurrencies – over 300 instruments in total.

What are Mitrade’s trading costs?

Mitrade offers zero-commission trading with spreads starting from 0.6 pips. No minimum deposit is required.

Does Mitrade offer negative balance protection?

Yes, all client accounts are protected with negative balance protection, ensuring you cannot lose more than your deposit.