Mitrade

Mitrade broker began operating in 2011 in Melbourne, Australia, and today, with six active licenses, including Australia's ASIC and Cyprus's CySEC, and a simple proprietary platform, offers CFD trading on forex, stocks, indices, commodities and ETFs. However, Mitrade does not officially serve residents of Iran. In this overview, we review Mitrade's licenses, account, platform, payment methods and risks based on Teagle's data.

What kind of broker is Mitrade?

Mitrade is a broker with about 15 years of history, and Teagle's data lists its country as Australia. What sets Mitrade apart is its proprietary platform, available on web, desktop and mobile, with tools such as dynamic charts, an economic calendar, real-time news and trading alerts. The broker offers more than 400 CFD instruments and provides trade management features such as stop loss, trailing stop, scheduled position closing and negative balance protection. Holding client funds in segregated accounts and support on business days are also among its stated features.

Mitrade broker licenses and credibility

According to Teagle's latest review, Mitrade's subsidiaries hold six active licenses:

• ASIC Australia (No. 398528), a tier-one regulator;
• CySEC Cyprus (No. 438/23) and MFSA Malta (No. GB20025791), under European Union law;
• FSCA South Africa (No. 54842);
• CMA (Capital Market Authority, No. 20200000397);
• CIMA Cayman Islands (No. 1612446), which is considered an offshore license.

All of these licenses are listed as Active. Teagle's analyst considers Mitrade's regulatory structure acceptable, but notes that regulatory credibility alone is not enough to make a broker suitable, and the level of protection for each client depends on the entity under which their account is opened. To assess the tier of these licenses, read the guide broker regulation tiers .

Does Mitrade serve Iranians?

No. According to the Teagle team's review, Mitrade does not officially serve residents of Iran, and Iranian users cannot reliably complete identity verification with their own ID documents and residential address. Using IPs from other countries or false information may also lead to access restrictions and account blocking during account review or withdrawal. For this reason, Teagle does not recommend opening an account with Mitrade to traders residing in Iran. Review the criteria for choosing a safe broker in the article brokers prohibited for Iranians .

Mitrade trading account

Mitrade has only one type of real account (Live Account):

• Minimum deposit: listed as $200 in Teagle's account table and depends on the country of residence;
• Spread and commission: floating spread and commission-free trading;
• Leverage: up to 1:200;
• Margin call and stop-out: 100% and 50%;
• Islamic account: not available.

If a trade remains open after the daily settlement time, it may be subject to an overnight funding fee, the rate of which is shown for each instrument on the platform. All Mitrade trades are CFDs, and you do not own the underlying asset. ECN accounts, scalping and expert advisors are also not listed among this broker's features. Given this platform's stop-loss tool, the article What is a stop loss will be useful to you.

Mitrade trading platform

Mitrade does not support MetaTrader 4 and 5 and offers only its proprietary platform on web, Android and iOS. The platform is simple and easy to understand for beginners, but according to Teagle it is not suitable for algorithmic trading or using expert advisors. The broker's additional services include bonuses, education, an IB program, an economic calendar and trading signals. If you rely on a trading robot, the article What is an expert advisor or trading robot explains why you need MetaTrader.

Deposits and withdrawals at Mitrade

Mitrade's payment methods include bank transfer, credit or debit card (Visa and Mastercard), Skrill and Neteller. Deposits and withdrawals are free with all methods; card and e-wallet deposits are instant, bank transfers take 1 to 3 business days, and withdrawals with all methods are processed within 24 hours. The minimum deposit and withdrawal for each method is not specified in Teagle's data. No rial or crypto method is on this list.

Mitrade's rating and risk on Teagle

Mitrade's final rating on Teagle is 4.45 out of 5, drawn from two sources: Trustpilot 4.7 and WikiFX 4.2. No user has posted a review of it on Teagle yet. The Teagle Eye risk index for Mitrade is 17 out of 100, in the "low risk" category, reflecting six active licenses, high credibility ratings and 15 years of history. See comparable brokers in Teagle's low-risk broker rankings .

Pros and cons of Mitrade broker

• Pro: several reputable regulatory licenses, including ASIC and CySEC
• Pro: simple proprietary platform compatible with multiple devices
• Pro: commission-free trading, negative balance protection and segregated funds
• Con: no official services for Iranian users
• Con: no support for MetaTrader 4 and 5 and unsuitable for expert advisors
• Con: trading limited to CFDs and no Islamic account

Who is Mitrade suitable for?

Mitrade suits traders outside Iran who value a simple platform, diverse markets and multiple oversight. It is not suitable for users residing in Iran, algorithmic traders, MetaTrader users, or those who want an ECN account or real asset ownership. To compare it with another broker with a proprietary platform, see the Mitrade vs eToro comparison .

Conclusion

Mitrade broker stands well in terms of regulation and platform simplicity, but the lack of official services for Iran and the risk of account blocking make it an unsuitable option for Iranian users. Avoid registering with false information, choose a broker that officially accepts Iranians, start with small capital, and follow the latest warnings on the investment risk warning page .