Traders Union has analyzed financial markets for over 14 years, evaluating brokers based on 250+ transparent criteria, including security, regulation, and trading conditions. Our expert team of over 50 professionals regularly updates a Watch List of 500+ brokers to provide users with data-driven insights. While our research is based on objective data, we recommend that users perform independent due diligence and consult official regulatory sources before making any financial decisions.
Learn more about our methodology and editorial policies.
Mitrade Pros & Cons
- ASIC and FSC regulation;
- Variety of trading instruments;
- Competitive spreads starting from 0 pips;
- High leverage up to 1:200;
- Support for the Mitrade platform accessible across multiple devices;
- Educational resources, including webinars, articles, and videos;
- 24/7 multilingual support.
- Limited choice of account types;
- Potentially high minimum deposit requirements.
TU Expert Verdict
Mitrade demonstrates moderate stability and can suit certain traders. Its conditions are acceptable, and feedback is mixed but reasonable. In my own tests, it performed adequately, though it lacks the consistency of higher-rated companies.
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Mitrade User Reviews
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5-star
33%
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4-star
0%
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3-star
67%
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2-star
0%
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1-star
0%
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Commissions and Fees
Score:We evaluate brokers' fees and spreads by assessing the costs associated with Standard and ECN/Raw spread accounts, including commissions and spreads. Additionally, our evaluation considers extra fees such as deposit/withdrawal charges and inactivity fees. Learn the assessment criteria5 /10The trading and non-trading commissions of Mitrade have been analyzed and rated as having Medium fees, with a fees score of 5/10. Additionally, these commissions were compared with those of the top two competitors, ZForex and OANDA, to provide the most comprehensive information.
- No inactivity fee
- No deposit fee
- No withdrawal fee
- Above-average Forex trading fees
- No ECN/Raw Spread account
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Is Mitrade Safe?
Score:We evaluate brokers' safety based on several key criteria. The highest value is placed on regulation, especially Tier 1 regulation, which ensures adherence to stringent standards set by top financial authorities like the FCA in the UK, CFTC in the US, CySEc and BaFin (EU) or ASIC (Australia). High scores are also given for participation in investor protection funds, which safeguard clients' funds in case of broker insolvency. Learn the assessment criteria8.9 /10Mitrade has a safety score of 8.9/10, which corresponds to a High security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.
- Tier-1 regulated
- Negative balance protection
- Track record of less than 8 years
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Account Types
Score:We evaluate a broker’s account offering by analyzing the range and suitability of available account types and how effectively they cater to different trader profiles and strategies. Our assessment covers the diversity of account options — including Standard, ECN/Raw, Cent, Swap-Free (Islamic), and VIP accounts — as well as the flexibility of trading conditions provided. Learn the assessment criteria.1.9 /10Mitrade offers the following account options: Demo, Standard, VIP.
However, Mitrade does not provide an ECN account with direct market access, which may be a drawback for experienced traders or scalpers seeking the lowest spreads.
- Standard account with balanced trading conditions
- Exclusive VIP account with enhanced trading conditions
- Low minimum deposit
- No Cent account
- Micro lots are not available
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Deposit and Withdrawal
Score:This section assesses the efficiency, speed, and affordability of brokers’ transaction processes, focusing on available methods, currencies, and fees. For further details, please refer to our data-focused methodology6.5 /10Mitrade received a Medium score for the efficiency and convenience of its deposit and withdrawal processes.
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Markets and Tradable Assets
Score:The evaluation in this section is based on the TU methodology and reflects the total number and variety of tradable assets offered by the broker, including Forex currency pairs. It also considers the availability of passive income tools such as PAMM accounts, copy trading, and similar services. All information is obtained from publicly available sources and may change. Learn the assessment criteria5.8 /10Mitrade offers a limited selection of trading assets compared to the market average. The platform supports 400 assets in total, including 60 Forex pairs.
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Trading Account Opening
We successfully registered an account with Mitrade in 20 minutes. The KYC verification was completed within 2 business days. The minimum deposit amount at Mitrade is $50.Score:We evaluated Trading Account Opening at Mitrade by testing the registration process under real conditions, including opening an account and funding it with the minimum required deposit (but no less than $100). Our assessment considered whether onboarding was fully online, the average registration time, the speed of KYC verification, and how quickly traders could activate their accounts. Learn the assessment criteria.8 /10This is one of the most accessible and hassle-free onboarding procedures on the market.
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Customer Support
Score:We evaluated Customer Support at Mitrade by opening a real account funded with the minimum required deposit (no less than $100) and contacting support to measure response time under real conditions. Our assessment considered contact channels, response speed, multilingual support, and availability hours. Learn the assessment criteria7 /10
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FAQs
How do reviews describe Mitrade’s regulation and overall safety level?
Mitrade is regulated by CySEC and ASIC as Tier-1 regulators, and by FSC (Mauritius) and CIMA as Tier-3 regulators, contributing to a safety score of 8.9/10, which is classified as a high security level. The broker offers negative balance protection and requires KYC verification, but its track record is less than 8 years and the exact foundation date is not specified in the review.
What fees and spreads are highlighted in reviews of Mitrade’s commissions and pricing?
The review rates Mitrade’s overall fees as medium, with a commissions score of 5/10 and notes that Forex trading fees are above average. Standard account spreads are built into floating spreads, with EUR/USD typically ranging from 0.8 to 1.7 pips and GBP/USD from 1.4 to 2.8 pips, while non-trading fees such as deposit, withdrawal, and inactivity charges are listed as 0.
What trading account types does Mitrade offer and how do they differ?
Mitrade provides Demo, Standard, Premium, and VIP accounts, with the Standard account requiring a $50 minimum deposit, Premium $500, and VIP $5,000, all with spreads starting from 0 pips according to the section. The review notes advantages such as a low minimum deposit and a demo account, while also mentioning the absence of Cent, Micro, ECN/Raw spread, swap-free, and managed accounts.
Which markets and instruments can be traded with Mitrade according to the review?
The review states that Mitrade supports 400 tradable assets, including 60 currency pairs, along with crypto, stock indices, commodity futures, and ETFs. It also notes that the overall asset selection is limited compared to the market average, with no access to stocks, options, bonds, copy trading, PAMM investing, or managed accounts.
What does the review say about Mitrade’s customer support quality and availability?
The review gives Mitrade’s customer support a safety score of 7/10, describing it as generally reliable with 24/7 availability and multiple channels such as hotline, email, feedback form, live chat, and office visits by appointment. It also mentions multilingual support and a call center as advantages, while noting that online support may be limited during peak hours.
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