Kirjoittaja Aihe: Mitrade Review 2023 (Luettu 1279 kertaa)

upamfva · 08.02.23 - 07:46

Mitrade Review 2023

Founded in 2011, Mitrade offers trading in forex, commodities, indices, stocks, and cryptocurrencies.To get more news about mitrade review, you can visit wikifx.com official website.

The company provides its services via three entities: Mitrade Holding Ltd (Cayman Islands), Mitrade Global Pty Ltd (Australia), and Mitrade International Ltd (Mauritius).
Unlike many brokers, Mitrade offers its in-house-built platform and does not offer MT4 or MT5. The broker offers just one type of account for retail traders. There is no Islamic Account option for this account.

Mitrade offers a high number of commodities and indices, while the number of forex pairs and stocks is medium. Traders have access to stocks from U.S. and Australian exchanges.

There are many options for deposits. The number of withdrawal options is smaller as traders are limited to bank cards and bank accounts. The account can use two base currencies, USD and AUD.
How Do We Rate?
When trading forex and CFDs, it is crucial to know a broker's strengths and weaknesses. That is why FX Empire developed its proprietary rating system. We put the knowledge and expertise of our reviewers to work to bring you the most suitable brokers. A total of 200 variables have been analyzed to help you choose your broker wisely. This chart describes all the categories we evaluated and rated.
Each regulator has its requirements for brokers, which may differ materially. Traders must understand these differences to evaluate whether the broker suits their needs.

In Mitrade’s case, traders from Australia will work with Mitrade Global Pty Ltd. At the same time, global clients will likely open accounts with Mitrade Holding Ltd or Mitrade International Ltd.

Clients of Mitrade Global Pty Ltd. will benefit from the oversight of ASIC, a Tier 1 regulator. Mitrade Holding Ltd’s clients will be under the oversight of CIMA, a Tier 3 regulator. FSC, a Tier 3 regulator, regulates Mitrade International Ltd.

The broker holds clients’ funds in segregated accounts, which means their money is not mixed with the firm’s money. Mitrade also provides negative balance protection so that clients will not lose more money than they have in their accounts.
Is Mitrade Safe to Trade With?
Mitrade has an entity regulated by a Tier 1 regulator (ASIC) and Tier 3 regulators (CIMA and FSC). All entities hold their funds separately from the firm’s funds and provide negative balance protection. The segregation of the company’s funds from traders’ funds means that your funds cannot be used by the broker, which increases safety in case the broker has financial problems. Negative balance protection ensures you cannot lose more money than you deposited into your account.

Stability and Transparency
In our tests for the Trust category, we also cover factors relating to stability and transparency. Here, we focused on how long the broker has been in business, the company’s size, and how transparent they are in terms of readily available information.

The key legal documents can be found in the trading platform when the trader opens a demo account. Traders can later convert this account into a live account.

The information about the company’s entities is placed at the bottom of the main page of the website.

Mitrade offers a detailed FAQ, which discusses important topics like Fees and Charges, and Client Money Protection. Clients also have access to contract specifications for the instruments provided by the broker.