Mitrade Review 2023

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Mitrade Review 2023



Mitrade is a forex and CFD broker based in Australia that offers access to over 100 financial instruments. The firm primarily caters to customers in the southern hemisphere such as in Sarawak, Malaysia, with many northern countries unsupported. This 2023 broker review will go through everything you need to know about Mitrade, including the assets on offer, payment methods supported, leverage rates available and more.To get more news about mitrade review, you can visit wikifx.com official website.

Mitrade Headlines
Mitrade is an international award-winning broker that was founded in 2011. The firm works out of headquarters in Melbourne, Australia. The brand operates under several different names, including Mitrade Global Pty Ltd and Mitrade Group Pte Ltd in Singapore, all under the umbrella of Mitrade Holding Ltd., which is regulated by the Cayman Islands Monetary Authority (CIMA). Mitrade Global Pty Ltd is regulated by the Australian Securities and Investment Commission (ASIC).
Mitrade primarily caters to customers in the southern hemisphere, including residents of countries like Vietnam, Thailand, Taiwan, Hong Kong (HK) and more. Residents in London and the UK, the US, Canada and Japan are unable to trade with the firm. Still, the broker has over 800,000 users worldwide trading forex and other assets online.

Trading Platform
Rather than offering MetaTrader platforms MT4 and MT5 like many brokers, Mitrade instead provides a bespoke trading platform. The webtrader can be accessed through the website. Through the platform, the registration and sign-up process is simple and, following this, clients can use their login details to start trading. The web trading platform features everything you need for a successful trading experience. There are a variety of order types and execution modes making it easy to open and close trades. The layout is simple and intuitive and there are many technical indicators and charts available to help your research. The platform even allows users to set up notifications and receive price alerts.
Leverage
The maximum rate of leverage offered by Mitrade varies according to the type of account you open. Professional clients are offered leverage up to 1:250, while retail clients can only access maximum leverage of 1:30, as per regulatory limitations. This level means that, if you were to put down £100, you could trade positions worth £3,000. Leverage increases winnings but it also increases losses and, as such, caution must be taken.

Mobile Apps
Mitrade offers a mobile app that is available to download on Android and Apple iOS. The app is fully featured and has received many positive reviews on the stores it is listed on. Clients can experience efficient trading performance anytime, anywhere. Opening and closing trades through the app is easy and intuitive and all charts and indicators are available to help with research. Moreover, the app allows you to manage all aspects of your account.
Demo Account
Mitrade does offer a demo account to its customers. Each demo account comes stocked with either USD50,000 or AUD50,000 of virtual money. This funding allows clients to familiarise themselves with the platform and get used to the layout. It also lets users learn about CFDs and forex trading and develop an understanding of how the markets work. The demo account is a great place to practise strategies without risking real capital.

Deals & Promotions
Mitrade regularly runs a variety of bonus programmes, including a no deposit bonus and a $50 deposit welcome bonus.

Regulation & Licensing
The holding company, Mitrade Holding Ltd, is regulated by the Cayman Island Monetary Authority (CIMA). Mitrade Global Pty Ltd is regulated by the Australian Securities and Investments Commission (ASIC) with license no. 398528. ASIC is a top-tier regulatory body, which means that the firm is held to the highest standards. This ensures you can put a level of trust in the broker.

Education
Mitrade offers a range of educational documents on its website. These are generally aimed at beginners, focusing on basic trading concepts. There is a range of articles covering contract for differences (CFDs), leverage and risk management. In addition to this, the broker provides a comprehensive FAQ section that has information on a wide range of topics.

Account Types
For retail traders, Mitrade offers a single live trading account. The account receives access to a leverage rate of 1:30 and all additional features such as charts, indicators and economic calendars.

The firm also offers an account for professional traders. To qualify, you must have net assets of at least AUD 2.5 million and a gross income of at least AUD 250,000 for the past two years. The professional account receives access to a leverage rate of 1:250.

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