MiTRADE

Information

MiTRADE, based in Australia and regulated by ASIC, offers a range of features and services to its clients. The broker provides a proprietary trading platform that allows traders to access the financial markets with competitive spreads starting from 0.0 pips. Tradable assets include forex, indices, shares, and commodities, and ETFs. MiTRADE offers both demo and live accounts. For those seeking an Islamic account, MiTRADE provides that option as well.

Market Instruments

MiTRADE offers access to various financial markets, including forex, indices, shares, commodities and ETFs.

Traders can engage in forex trading, speculating on the price movements of different currency pairs. Additionally, they can trade popular indices, giving them exposure to the performance of a basket of stocks from specific markets. MiTRADE also offers the opportunity to trade shares, allowing clients to invest in individual company stocks. Moreover, traders can participate in commodity trading, taking positions on the price fluctuations of commodities such as gold, oil, and agricultural products.

Account Type

MiTRADE offers two types of accounts for traders: a live account and a demo account.

The live account is designed for real trading with actual funds, allowing traders to participate in the financial markets and execute trades using their own capital. The minimum deposit for opening a live account with MiTRADE is undisclosed. This broker offers USD or AUD as a base currency for their trading accounts.

On the other hand, the demo account is a simulated trading environment that provides users with virtual money to practice trading strategies and explore the platform’s features. Each demo account is initialized with a generous amount of USD50,000 or AUD50,000 virtual money, enabling traders to gain hands-on experience without any financial risk.

Leverage

MiTRADE offers trading leverage of up to 1:200. It is crucial to understand that high leverage can amplify both potential profits and risks. While it may be appealing to experienced traders who are familiar with managing leverage effectively, inexperienced traders are advised to exercise caution and carefully consider their risk tolerance.

Spreads & Commissions

MiTRADE offers floating spreads for various trading instruments. The spread on the popular EURUSD currency pair starts from 1 pip, providing traders with a competitive option for trading this major pair. The EURGBP pair has a spread starting from 1.4 pips, while UKOIL and USOIL (Crude Oil) have spreads of approximately 0.06 pips, offering traders a tight spread option for energy commodities. For precious metals, the XAUUSD (Gold) pair has a spread starting from 0.44 pips, and the XAGUSD (Silver) pair has a spread starting from 0.3 pips.

Trading Platforms

MiTRADE offers its own proprietary trading platform for clients, with desktop and app version, as well as WebTrader. The proprietary platform is designed to meet the specific needs and preferences of MiTRADE’s traders. The platform offers a user-friendly interface, providing access to real-time market data, charting tools, and a range of order types.

Customer Support

MiTRADE offers 24/5 live chat service with a team of dedicated professionals. They can be reached via email: [email protected]. You can also fill out the ‘contact us’ form on the brokers website, and a customer support specialist will attend to you as soon as possible. Mitrade is also available on social media: Instagram, Facebook, Twitter, YouTube, LinkedIn, TikTok and Telegram.