Mitrade

Mitrade is an online brokerage platform that offers trading services in various financial markets, including forex (foreign exchange), commodities, indices, and cryptocurrencies. The company was established in 2011 and is headquartered in Australia.

Mitrade offers its own proprietary trading platform, which is available both as a web-based platform and as a mobile application. The platform is designed to provide a user-friendly trading experience and offers various tools and features to assist traders in their decision-making process.

Among other licenses, Mitrade is regulated by the Australian Securities and Investments Commission (ASIC) and holds an Australian Financial Services Licence. Regulation is an important aspect to consider when choosing a broker, as it helps ensure certain standards are met in terms of security, transparency, and client protection.

Mitrade provides educational resources and materials to help traders enhance their knowledge and skills. These resources may include articles, tutorials, videos, and other learning materials related to trading and market analysis.

Regulation

Mitrade is authorised and regulated by multiple regulatory bodies. 

Mitrade International Ltd is authorised and regulated by Mauritius Financial Services Commission (FSC) and the licence number is GB20025791. 

Mitrade Global is authorised and regulated by the Australian Securities and Investments Commission (ASIC) and holds an Australian Financial Services Licence (AFSL 398528). 

Mitrade Holding is authorised and regulated by Cayman Islands Monetary Authority (CIMA) and the SIB Licence No. is 1612446.

Countries of presence

The broker’s offices operate in Australia, Mauritius and the Cayman Islands. Mitrade does not provide services for residents of the United States, Canada, Japan, New Zealand or any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

Awards

The broker has a large number of industry awards, including:

• Best Mobile Trading Platform Asia Pacific 2023
• Fastest Growing Forex Fintech Broker Global 2023
• Best Trading Platform 2022
• Best Forex Trading Experience Asia 2022
• Fastest Growing Forex Fintech Broker Global 2022
• Most Innovative Forex Fintech Broker Global 2022
• Best Forex Broker Asia 2022
• Most Trusted Forex Broker Asia 2022
• Best Forex Educational Resources Global 2022
• Most Transparent Forex Broker Global 2022
• Best Trading Platform Australia 2022
• Fastest Growing Forex Fintech Broker 2022

Trading platforms

The broker offers its clients its own Mitrade Trading Platform:

• Mobile App for Android, iOS
• Web
• Desktop version for Windows and macOS

Trading accounts

• Demo Account
• Standard 
• Professional 

Mitrade only offers personal standard and professional trading accounts and does not offer any corporate accounts or joint accounts.

Trading instruments

Users can trade in:

• Forex
• Indices
• Commodities
• Shares

Available Trading Tools:

• Trading Analysis
• Forecast
• Economic Calendar
• News
• Market Data
• Sentiment

Registration process

To register an account, users are required to:

• Enter your email address/mobile phone number and set a login password. After submitting, a demo account will be created.

• On the demo account page, users can switch to a real account to access the account application form.

Before applying to open a live account, Mitrade invites the user to review our disclosure documents, which describe the risks associated with trading with leverage.

Only after the verification of the identity card is completed, the user will be able to deposit funds into the real account.

Verification

For regulatory reasons, as part of the Know Your Customer (KYC) policy, Mitrade may require the user to provide proof of identity and/or proof of address:

• ID documents: It can be one of the following: Passport, Driver’s License, Government Issued Photo ID. The document needs to be valid and show full name and date of birth.
• Proof of Address documents: It can be one of the following: Utility Bill (Phone, Electricity, Gas, Water, Internet), Bank or Credit Card Statement, Government Issued Tax Document, Birth Certificate, Certificate of Citizenship, and House Rental Official Agreement Issued from a Rental Agent. This document must be 1) less than 6 months old and show the full document, and 2) show Name and Residential (non PO Box) Address, and 3) show a provision of services.

Deposits and withdrawals

Mitrade offers a wide range of deposit methods, including but not limited to the following methods:

• Visa/Mastercard
• Online Banking
• e-Wallet (eg. Skrill, Momo, Zalo, Touch’n GO and Boost etc.)
• ATM Card
• QR Code Payment
• Bank Transfer

Some of the deposit methods are only available in selected countries/regions.

Based on user’s deposit history and Mitrade’s withdrawal policy, funds might be returned via the following methods:

• Bank Card: 3-5 business days
• Bank Account: within 3 business days

Support

Mitrade’s website is available in 10 languages. The broker maintains publics in popular social networks, however, user support on the site is carried out only through e-mail and a feedback form. There is no information on the site about which languages users can get support in.

Promo&Bonuses

MiTrade does not at this time (2023) offer a Sign-Up Bonus, Welcome bonus, or the advantage/profits of a no-deposit bonus with first-time sign-up or account registration.

Affiliate program

The Mitrade Partner Program offers users to receive rewards for attracting new customers according to a model to choose from: Cost Per Action (CPA) or Revenue Share.

Training

To educate and inform traders, Mitrade offers the following tools:

• Trading Basics – reference materials for forex trading
• Insights – market news and analytics
• Academy – trading courses for traders of different levels, covering Forex, commodities, indices, share and more
• TradingACE – Interactive Learning Mobile App