How much is the minimum deposit in Mitrade?

Mitrade sets a minimum opening balance for live accounts and says it can change this requirement from time to time. Check the current minimum in the key details box at the top of this review, or on Mitrade's website, before you deposit.

Where does Mitrade hold client funds?

Mitrade holds user funds in segregated client accounts that are separate to its own operational accounts. Your money is co-mingled with other clients' money in those accounts, and Mitrade's PDS notes that a statutory trust account can't guarantee absolute protection of your funds.

Is Mitrade good for beginners?

Yes, Mitrade is a highly user-friendly platform and well-catered to beginners. It offers a demo account, zero commissions and educational resources to help inexperienced investors hone their skills.

What type of leverage does Mitrade offer?

For retail clients, leverage is limited by ASIC's product intervention order for CFDs, which sets minimum initial margins: 3.33% for major currency pairs (leverage of up to 30:1), 5% for minor currency pairs, gold and major stock indices (20:1), 10% for other commodities and minor indices (10:1), 50% for crypto CFDs (2:1) and 20% for other CFDs such as shares (5:1). Mitrade's PDS says leverage may be tiered by position size, so check the trading platform for the leverage that applies to each product. These ASIC limits don't apply to wholesale clients.

How long does it take to withdraw funds from Mitrade?

Mitrade processes withdrawals after it receives your request, but they can take longer depending on payment providers, banks and any security review. Check Mitrade's Client Agreement or website for current timeframes.

Is Mitrade legitimate?

Mitrade is licensed and regulated by the Australian Securities and Investments Commission (ASIC) and a number of other regulatory bodies around the world including the Cyprus Securities and Exchange Commission (CySEC), Mauritius Financial Services Commission (FSC) and the Cayman Islands Monetary Authority (CIMA). It also holds client deposits in a segregated trust account.