Details
Forex details
Type of broker Online Number of currency pairs 60 Minimum Spreads for Major Currencies 1 pip Commission $0 Minimum opening balance 100 Retail Maximum Leverage 30:1 Professional Maximum Leverage 20:1 Platforms Mitrade Trading Platform Support Email, Live chat More info CFD details
Type of broker Online Available CFD markets Commodities, Cryptocurrencies, ETFs, Forex, Global Stocks, Australian Stocks, Indices (CFDs only) Commission - ASX 200 Shares $0 Minimum Opening Deposit $100 Minimum trade size 0.01 lots ASX live data fee $0 Platforms Mitrade Trading Platform Support Email, Live chat More info
Mitrade is an award-winning forex and CFD trading platform that offers access to a range of financial products and markets including FX, commodities, ETFs, cryptocurrencies and shares.
With its demo account option, user-friendly trading features and educational resources, it's also well-catered to beginner traders.
What are the key features of Mitrade forex trading?
Mitrade offers an intuitive and streamlined trading platform with zero commissions, small minimum trade amounts and negative balance protection to prevent you from owing more than you've deposited.
It has its own mobile and desktop trading platform, as well as convenient payment options including PayID and bank transfer.
Mitrade also includes smart trading and research tools, including AI-powered market insights, to help inform your trading. There's also flexible charting tools that let you access various timeframes, technical indicators and drawing tools to better analyse price movements.
What markets can I trade with Mitrade?
Forex
You can trade more than 50 global currency pairs including half a dozen AUD pairs.
Stocks
Trade dozens of share CFDs on leading US and Asian companies.
Commodities
Trade more than a dozen commodities markets including gold, coffee, natural gas, oil and more.
Indices
You can trade CFDs on a handful of popular indices like the SPX500 and HK50.
ETFs
You can also trade CFDs for popular international ETFs (exchange-traded funds) like the Vanguard Total Stock Market (VTI) ETF and Invesco Trust Series 1 (QQQ) ETF.
What trading platforms can I use with Mitrade?
Mitrade has its own proprietary mobile and desktop trading platform for iOS, Android, MacOS and Windows. You can also access its platform directly from your web browser.
It offers a clean, intuitive trading interface with low minimum trades (0.01 lots), negative balance protection and a range of trading tools and features like news feeds, alerts and split charting.
What customer support options are available from Mitrade?
You can contact Mitrade via a live web chat that is available 24 hours a day, 5 days a week, as well as email and online form.
What are Mitrade's spreads?
While Mitrade claims to offer competitive spreads, it uses floating spreads, which means the spread you pay will depend on the product you are trading and when you make the trade.
While it charges no additional trading fees, like many other platforms it incorporates its cost into the spread.
Make sure to check the spread whenever you go to make a trade to ensure you're getting a competitive rate.
You will also need to pay overnight funding rates on any positions you keep open overnight.
There are no commissions or other hidden fees when using the platform.
How do I open an account with Mitrade?
You can sign up for a Mitrade account via the Mitrade website or app.
You'll need to provide an email address or phone number in order to sign up.
Once you've created your account, you'll then need to verify your identity in order to deposit fund and begin trading.