Mitrade

Mitrade is an average broker that offers stable trading grounds, even if one has to work for certain things. The broker is structured in such a way that only registered users can get the full picture. Read on to see what we mean.

Mitrade is a brand that operate by multiple companies.

• Mitrade Holding Ltd is regulated by the  Cayman Islands Monetary Authority (CIMA). The most notable requirement by this authority is that all brokers under its gaze have to hold at least $120 000 in capital at all times. This shows that Mitrade has a fair amount of money in store.
• Mitrade Global Pty Ltd is regulated by ASIC. ASIC is the crucial regulation here. This is one of the globe's top license issuer, and as such it means that Mitrade has entered a new level of professionalism. ASIC takes great care in making sure that all brokers under its gaze are scrutinized constantly.
• Mitrade International Ltd regulated by the Mauritius Financial Services Commission. This is a a common offshore FX regulator that does its job well enough without exceeding any expectations. We have seen some great brokers regulated by it before, so we have no reason to doubt this license.

Mitrade is safe to invest in, for it has proven to be a stable and reliable broker.

No registration was needed on our side, for the website of the firm is trustworthy.

The broker says to be dealing with forex currency pairs, commodities, indices, and shares. We read of a 0.2 pip spread of the EUR/USD pair on an active price chart on the website. This is a very good cost of trade, that all can profit from if they play their cards right. However brokers tend to advertise the spread values of more expensive account types without saying so; it's not a frowned-upon practice and many renowned brokers have been known to do this. So, there is room to believe that there are different spread values depending on the account types the user has chosen. We don't have any specific account details, however what we can state is that Mitrade has said that there are no spread commissions.

Unfortunately, no leverage values were disclosed anywhere.

Whether or not the trading conditions are accurate should not be a concern. The reason for this is that the broker is regulated in the end, and there is no incentive here for lying to the broker's clients.

MITRADE LOGIN

There is some sort of a Mitrade platform that has been advertised on the website, but as it sometimes happens with brokers that we cannot open an account with, we cannot be sure of what this software is.

It's too early to say what is included in this proprietary platform. Yet, Mitrade is regulated, and therefore we have no room for doubt.

For now, it seems, that we have to be satisfied by only what the website states.

MITRADE MINIMUM DEPOSIT

According to the FAQ section of the website, clients can invest in one of the following ways: credit cards, debit cards, wire transfer, online banking, and a bunch of popular e-wallets.

There was no minimum deposit requirement revealed anywhere, which we found to be odd. Why would a broker keep this information away? Well, the only reasonable explanation is to pull in the user to create an account.

There are no depositing fees.

MITRADE WITHDRAW TIME AND FEES

According to AML rules, the withdrawal methods should be the same as the depositing ones. The broker itself has said so on multiple occasions, and so Mitrade uses the same withdrawal methods as the ones we have revealed above.

Withdrawal requests are said to be processed within 1 to 3 days.

The broker prides itself on not having any payment-related fees, This would have been a great deal if Mitrade was regulated, but it isn't. There is no trusting the company with this information.

BOTTOM LINE

Mitrade might not be for everyone, even though it is regulated. The broker keeps a lot of its details on the down low, and the only way to truly understand the broker is to create an account with it. This might push some users away.