MiTRADE Review: Is MiTRADE Broker Good?
Choosing the right broker is an important step before starting to invest in CFDs on Forex, Precious Metals, Indices and Shares. A good broker will provide traders with access to the markets, the necessary tools and good service. Mitrade is one of the most popular brokers. Mitrade is a broker that offers trading in CFDs on Forex, Precious Metals, Indices and Shares through a user-friendly platform that is compatible with desktop, mobile and tablet. Mitrade is duly licensed by a reputable regulatory authority. However, before making any investment decision, traders should do their research, compare other brokers, consider various factors and important information before deciding to open an account and invest to find the right broker for you.
Broker Overview: Is Mitrade Safe?
Mitrade is a global CFD broker founded in 2018 in Melbourne, Australia. With a team of trading, financial and technology experts, they aim to simplify trading and create user-friendly trading platforms. They provide investors with access to international financial markets and trade through the Mitrade platform, which is strictly regulated by multiple regulatory authorities, including in Australia and the Cayman Islands.
Broker Licensing and Regulation
If you ask whether Mitrade broker is good or not, you must start by considering the license factor first. Mitrade is a brand shared by many companies and operates through the following companies.
Mitrade Holding Ltd is the issuer of the financial instruments described or contained on this website. Mitrade Holding is authorised and regulated by the Cayman Islands Monetary Authority (CIMA) and SIB license number is 1612446.
Mitrade Global is authorised and regulated by the Australian Securities and Investments Commission (ASIC).
Mitrade Global Pty Ltd's licence number is ABN 90 149 011 361 and holds an Australian Financial Services Licence (AFSL 398528).
Mitrade International Ltd is authorized and regulated by the Mauritius Financial Services Commission (FSC) and the license number is GB20025791.
Examples of awards received by brokers
Best Client Fund Security Global: International Business Magazine
Best Fintech Broker - Global: Global Forex Awards
Forex Customer Satisfaction & Happiness Asia: Global Banking Finance
The Next 100 Global Awards – Trading Platform: Global Banking Finance
Best MobileCFD Trading Platform Asia Pacific: Global Brands Magazine
Best Trading Platform Forexing.com Award 2022: Forexing.com
Fastest Growing Forex Fintech Broker Global 2022: Global Brands Magazine
Trading products and services
Trading products
Forex Trading
Forex trading is the exchange of foreign currencies. The Forex market is the largest and most liquid market in the world. Most of it operates online, allowing participants around the world to trade currencies 24 hours a day, 5 days a week. It is an investment that involves risk, but also has the potential for good returns.
Indices Trading
An index is a measure that tracks the price performance of a large group of stocks within the index. An index can be a broad-based index that looks at the overall trend of the market, or a specialized index that focuses on a specific industry or group of stocks.
Trading indices reduces the concentration risk of investing in single stocks. Popular indices include the Australia 200, Nas100, Hong Kong 50 and Germany 30. These represent investment opportunities in the stock markets of countries such as Australia, the United States, Hong Kong and Europe respectively.
Commodities and Commodities Trading
Commodities such as precious metals and energies are often used as inflation hedges or as speculative instruments for trading opportunities. Global commodities such as gold, silver and oil are extremely popular among traders.
Commodity prices can fluctuate wildly depending on factors such as supply, demand, economic factors, geopolitical tensions, and currency movements. Such volatility offers traders the opportunity to speculate for high returns, but also carries a high level of risk.
Share CFDs Trading
Shares are a type of security that are offered for sale on a stock exchange. Initial public offerings (IPOs) are often used by private companies to raise capital. These shares become available for trading on stock exchanges after the IPO is completed. Although shares have been around for a long time, they remain one of the most popular investment vehicles among investors worldwide.
Stock prices are affected by various factors such as the macroeconomics, industry trends, and company performance. These factors contribute to the volatility of stock prices, which creates opportunities for investors.
ETF Trading
An Exchange Traded Fund (ETF) is a type of mutual fund that can be traded like shares on a stock exchange. ETFs typically track the performance of an underlying index, such as the S&P/ASX 200, a currency, such as the US dollar (USD), or a commodity, such as gold.
Trading Platform
Mitrade Trading Platform
Mitrade's trading platform provides a user-friendly and intuitive experience, with a complete trading solution for both desktop and mobile, supporting iOS and Android operating systems, as well as easy trading via browser. The platform supports real-time market trends, technical analysis tools and rigorous risk management, helping traders make better trading decisions through its award-winning and highly reliable platform.
Mitrade's trading platform features:
Convenient and easy to use
Supports trading via website
There are mobile applications for both iOS and Android.
Provides technical analysis tools and risk management.
Supports access to real-time market trend data
Account Type Review
MiTrade only offers 1 live trading account, the Standard Account, which may not be suitable for all types of traders.
Average Spread 1.0 pips: Spread is moderate, suitable for beginner traders.
No Commissions: No additional fees, saving you money.
Swap Support: Support overnight holding
Maximum leverage 1:200: Suitable for trading CFDs but should be used with caution.
Minimum deposit $50: Easy to start trading, suitable for traders with low capital.
Deposit and withdrawal channels
Contact channels and customer service
office
Mitrade Holding Ltd
Address: 215-245 N Church Street, 2nd Floor, White Hall House, George Town, Grand Cayman, Cayman Islands
Mitrade Global Pty Ltd
Address: Level 11, 350 Collins Street, Melbourne, VIC 3000, Australia
Mitrade International Ltd
Address: Suite 707 & 708, 7th Floor, St James Court, St Dennis Street, Port Louis, Mauritius
Contact Customer Service
Contact Business Department
Email:[email protected]
Website:https://www.mitrade.com/about-us/contact
Facebook:https://web.facebook.com/MitradeOfficial/?_rdc=1&_rdr
Instagram: https://www.instagram.com/mitrade_official/
Youtube: https://www.youtube.com/c/mitradeglobal
Linkedin:https://www.linkedin.com/company/mitradecom
Tiktok: https://www.tiktok.com/@mitrade_official
Twitter (X): https://x.com/i/flow/login?redirect_after_login=%2FMitradeOfficial
Summary: Is Mitrade Broker Review Good?
Mitrade is a good choice for traders who want a broker that is commission-free, easy to use, offers a wide range of trading assets, and has good customer service. However, it does not offer ECN accounts, some trading products, and has high minimum deposit requirements. Traders should do more research and compare other brokers before making a decision to use it.
Frequently asked questions
What is a Demo Account?
answer:A demo account is a trading practice account offered by a broker that provides similar functionality, information and trading strategies to a real trading account. A demo account is filled with virtual money (usually around $50,000 USD or $50,000 AUD) and allows you to practice trading, try out different tools and develop your trading strategies without risking any real money.
How long does it take to receive my withdrawal from my Mitrade account?
answer:It takes up to 3 business days to process a withdrawal request. Additional information may be required to process a withdrawal.
note:The time it takes to process a withdrawal depends on the destination bank.
Is Mitrade legal?
answer:Mitrade is fully compliant with the Corporations Act and relevant financial regulatory requirements, and is licensed by relevant regulatory authorities and is strictly regulated. It also has comprehensive and adequate client funds protection measures in place, as required by regulatory authorities.
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Mitrade ReviewsCompare spreads, fees, trading platforms, deposit and withdrawal conditions, and more, with real user reviews to help you decide on the broker that suits your needs.
