How much is the minimum deposit in Mitrade?

Mitrade has a minimum account balance of $100 on live accounts.

Where does Mitrade hold client funds?

Mitrade holds user funds in segregated client accounts that are separate to its own operational accounts. It also offers enhanced fund protection up to $1 million.

Is Mitrade good for beginners?

Yes, Mitrade is a highly user-friendly platform and well-catered to beginners. It offers a demo account, zero commissions, educational resources to help inexperienced investors hone their skills.

What type of leverage does Mitrade offer?

Mitrade offers up to 200x leverage for professional investors.

How long does it take to withdraw funds from Mitrade?

Withdrawals are normally processed within 24 hours.

Is Mitrade legitimate?

Mitrade is licensed and regulated by the Australian Securities and Investments Commission (ASIC) and a number of other regulatory bodies around the world including the Cyprus Securities and Exchange Commission (CySEC), Mauritius Financial Services Commission (FSC) and the Cayman Islands Monetary Authority (CIMA). It also segregates deposits and offers discretionary insurance to help protect user funds.

Mitrade review: Australian forex and CFD broker

General information only. All forms of investments (and in particular, trading CFDs, commodities and forex) carry significant risk, including the risk of losing more than the invested amounts, market volatility and liquidity risks. Past performance is no guarantee of future results. Such activities are not suitable for most investors.

Our verdict

Access over 50 forex currency pairs and other CFD markets with tight spreads and no commission.

Mitrade is an ASIC-regulated CFD trading platform that offers a range of beginner-friendly features and access to hundreds of CFD instruments across forex, stocks, cryptocurrency and more.

With its intuitive proprietary trading platform for both mobile and desktop, it offers a convenient and robust trading experience that's suitable for both beginner and experienced traders.

Pros

Smart trading and research tools
User-friendly trading platform
Diverse range of tradeable instruments across traditional and emerging asset classes

Cons

Spreads may not be most competitive
Limited options on indices and ETFs

Details

Forex details

Type of broker	Online
Available markets	50+ global currencies pairs, index CFDs, commodity CFDs, stock CFDs, ETF CFDs
Minimum Spreads for Major Currencies	1 pip
Commission	$0
Minimum opening balance	$100
Minimum Trade Size	0.01 lots
Leverage	2:1 - 30:1
Platforms	Mitrade Trading Platform
Support	Email, Live chat

CFD details

Type of broker	Online
Available CFD markets	Australian Stocks, Global stocks, Currencies, Indices, Commodity CFDs, ETFs (CFDs only)
Commission - ASX 200 Shares	$0
Minimum Opening Deposit	$100
Minimum trade size	0.01 lots
ASX live data fee	$0
Platforms	Mitrade Trading Platform
Support	Email, Live chat

Mitrade is an award-winning forex and CFD trading platform that offers access to a range of financial products and markets including FX, commodities, ETFs, cryptocurrencies and shares.

With its demo account option, user-friendly trading features and educational resources, it's also well-catered to beginner traders.

What are the key features of Mitrade forex trading?

Mitrade offers an intuitive and streamlined trading platform with zero commissions, small minimum trade amounts and negative balance protection to prevent you from owing more than you've deposited.

It has its own mobile and desktop trading platform, as well as convenient payment options including PayID and bank transfer.

Mitrade also includes smart trading and research tools, including AI-powered market insights, to help inform your trading. There's also flexible charting tools that let you access various timeframes, technical indicators and drawing tools to better analyse price movements.

What markets can I trade with Mitrade?

Forex

You can trade more than 50 global currency pairs including half a dozen AUD pairs.

Stocks

Trade dozens of share CFDs on leading US and Asian companies.

Commodities

Trade more than a dozen commodities markets including gold, coffee, natural gas, oil and more.

Indices

You can trade CFDs on a handful of popular indices like the SPX500 and HK50.

ETFs

You can also trade CFDs for popular international ETFs (exchange-traded funds) like the Vanguard Total Stock Market (VTI) ETF and Invesco Trust Series 1 (QQQ) ETF.

What trading platforms can I use with Mitrade?

Mitrade has its own proprietary mobile and desktop trading platform for iOS, Android, MacOS and Windows. You can also access its platform directly from your web browser.

It offers a clean, intuitive trading interface with low minimum trades (0.01 lots), negative balance protection and a range of trading tools and features like news feeds, alerts and split charting.

What customer support options are available from Mitrade?

You can contact Mitrade via a live web chat that is available 24 hours a day, 5 days a week, as well as email and online form.

What are Mitrade's spreads?

While Mitrade claims to offer competitive spreads, it uses floating spreads, which means the spread you pay will depend on the product you are trading and when you make the trade.

While it charges no additional trading fees, like many other platforms it incorporates its cost into the spread.

Make sure to check the spread whenever you go to make a trade to ensure you're getting a competitive rate.

You will also need to pay overnight funding rates on any positions you keep open overnight.

There are no commissions or other hidden fees when using the platform.

How do I open an account with Mitrade?

You can sign up for a Mitrade account via the Mitrade website or app.

You'll need to provide an email address or phone number in order to sign up.

Once you've created your account, you'll then need to verify your identity in order to deposit fund and begin trading.

Frequently asked questions

Mitrade is licensed and regulated by the Australian Securities and Investments Commission (ASIC) and a number of other regulatory bodies around the world including the Cyprus Securities and Exchange Commission (CySEC), Mauritius Financial Services Commission (FSC) and the Cayman Islands Monetary Authority (CIMA).
It also segregates deposits and offers discretionary insurance to help protect user funds.

Sources

Mitrade

This information is general in nature and is no substitute for professional advice. It does not take into account your personal situation. This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for most investors. You do not own or have any interest in the underlying asset. Capital is at risk, including the risk of losing more than the amount originally put in, market volatility and liquidity risks. Past performance is no guarantee of future results. Tax on profits may apply. Consider the Product Disclosure Statement and Target Market Determination for the product on the provider's website. Consider your own circumstances, including whether you can afford to take the high risk of losing your money and possess the relevant experience and knowledge. We recommend that you obtain independent advice from a suitably licensed financial advisor before making any trades.

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Tom Stelzer is a journalist with 6 years of experience covering personal finance, specialising in investment and cryptocurrency. With a Master of Media Arts and Production and a Bachelor of Communications in Journalism from the University of Technology Sydney, Tom provides expert analysis on digital assets and market trends, helping readers navigate the fast-evolving world of finance. See full profile