What is MiTrade？

MiTRADE, based in Australia and regulated by ASIC, offers a range of features and services to its clients. The broker provides a proprietary trading platform that allows traders to access the financial markets with competitive spreads starting from 0.0 pips. Tradable assets include forex, indices, shares, and commodities, and ETFs. MiTRADE offers both demo and live accounts. For those seeking an Islamic account, MiTRADE provides that option as well. Customer support is available 24/5 through various channels, including live chat, contact form and email.

Pros & Cons

MiTRADE offers several advantages, including regulated by ASIC and CySEC, and a wide range of tradable assets and services. They also provide a demo account for traders to practice their strategies. Additionally, the broker offers diverse payment methods, allowing for convenient transactions.

Is MiTRADE legit？

MiTRADE is a broker that operates under the regulation of the Australia Securities & Investment Commission (ASIC), with an Market Making (MM) license under license no. 398528; and the Cyprus Securities and Exchange Commission (CySEC), with an Market Making (MM) license under license no. 438/23. These regulatory bodies ensure that MiTRADE complies with the necessary standards and guidelines to provide a safe and transparent trading environment for its clients.

Market Instruments

MiTRADE offers access to various financial markets, including forex, indices, shares, commodities and ETFs.

Traders can engage in forex trading, speculating on the price movements of different currency pairs. Additionally, they can trade popular indices, giving them exposure to the performance of a basket of stocks from specific markets. MiTRADE also offers the opportunity to trade shares, allowing clients to invest in individual company stocks. Moreover, traders can participate in commodity trading, taking positions on the price fluctuations of commodities such as gold, oil, and agricultural products.

Account Types

MiTRADE offers two types of accounts for traders: a live account and a demo account.

The live account is designed for real trading with actual funds, allowing traders to participate in the financial markets and execute trades using their own capital. The minimum deposit for opening a live account with MiTRADE is undisclosed. For specific information regarding the minimum deposit requirement, it is advisable to contact MiTRADE or visit their website. This broker offers USD or AUD as a base currency for their trading accounts.

On the other hand, the demo account is a simulated trading environment that provides users with virtual money to practice trading strategies and explore the platform's features. Each demo account is initialized with a generous amount of USD50,000 or AUD50,000 virtual money, enabling traders to gain hands-on experience without any financial risk.

How to Open an Account？

To open an account with MiTRADE, you can follow a simple process:

1. Visit the MiTRADE website: Go to the official MiTRADE website using a web browser. Click on “Open Account” or “Register”: Look for the “Open Account” or “Register” button on the homepage or the main navigation menu.
2. Fill in the Registration Form: Provide the required information in the registration form. This usually includes personal details such as your name, email address, phone number, and country of residence. You may also need to create a username and password for your account.

1. Complete the Verification Process: MiTRADE may require you to verify your identity and address by submitting supporting documents. This could include a copy of your identification document (such as a passport or driver's license) and proof of address (such as a utility bill or bank statement).
2. Review and Agree to Terms and Conditions: Read through the terms and conditions of MiTRADE's services carefully. Make sure you understand and agree to the terms before proceeding.
3. Fund Your Account: Once your account is successfully registered and verified, you can proceed to fund your trading account. MiTRADE typically offers various deposit methods such as bank transfer, credit/debit card, or online payment systems. Choose the method that is most convenient for you and follow the instructions provided.
4. Start Trading: After your account is funded, you can access the MiTRADE trading platform using your login credentials. Explore the platform, familiarize yourself with its features, and start trading the available financial instruments, such as forex, indices, commodities, or cryptocurrencies.

Leverage

MiTRADE offers trading leverage of up to 1:200. It is crucial to understand that high leverage can amplify both potential profits and risks. While it may be appealing to experienced traders who are familiar with managing leverage effectively, inexperienced traders are advised to exercise caution and carefully consider their risk tolerance. It is important to thoroughly educate oneself about the implications of trading with high leverage and implement appropriate risk management strategies to protect capital.

Spreads & Commissions

MiTRADE offers floating spreads for various trading instruments. The spread on the popular EURUSD currency pair starts from 1 pip, providing traders with a competitive option for trading this major pair. The EURGBP pair has a spread starting from 1.4 pips, while UKOIL and USOIL (Crude Oil) have spreads of approximately 0.06 pips, offering traders a tight spread option for energy commodities. For precious metals, the XAUUSD (Gold) pair has a spread starting from 0.44 pips, and the XAGUSD (Silver) pair has a spread starting from 0.3 pips.

Notably, MiTRADE does not charge any commissions on trades, which can be advantageous for traders seeking cost-effective trading options. Traders should consider these spread details when evaluating trading costs and potential profitability on different instruments offered by MiTRADE.

Non-Trading Fees

MiTRADE does not charge any additional fees apart from overnight fees. Overnight fees, also known as swap fees or rollover fees, are charges applied when a position is held open overnight. These fees are associated with the cost of keeping positions open beyond the trading day and vary depending on the financial instrument and prevailing interest rates. It is important to note that MiTRADE does not charge any other fees such as deposit fees, withdrawal fees, or inactivity fees.

Trading Platform

MiTRADE offers its own proprietary trading platform for clients, with desktop and app version, as well as WebTrader. The proprietary platform is designed to meet the specific needs and preferences of MiTRADE's traders. The platform offers a user-friendly interface, providing access to real-time market data, charting tools, and a range of order types.

Deposit & Withdrawal

The broker does not charge any fees for deposits and withdrawals in most cases. However, there are other third-party charges for deposit and withdrawals that are outside of Mitrades control such as intermediary bank fees, etc.

Note that not all deposit methods are available in all countries. Please log in to your Mitrade account to view what payment options are available to you.

Educational Resources

MiTRADE provides some basic educational resources to enhance traders' knowledge and skills. Their learning materials cover the basics of trading, offering educational content to help traders understand the fundamental concepts and strategies.

MiTRADE also offers insightful market analysis and commentary to keep traders informed about the latest market trends and developments.

Additionally, they have an academy section dedicated to providing comprehensive trading courses and tutorials, allowing traders to deepen their understanding of various trading techniques and tools.

Besides, MiTRADE also provides a blog section where traders can access a wealth of informative articles and blog posts. The blog covers a wide range of topics related to trading, including market analysis, trading strategies, risk management, and trading psychology

Customer Support

MiTRADE offers 24/5 live chat service with a team of dedicated professionals. They can be reached via email: cs@mitrade.com. You can also fill out the ‘contact us’ form on the brokers website, and a customer support specialist will attend to you as soon as possible. Mitrade is also available on social media: Instagram, Facebook, Twitter, YouTube, LinkedIn, TikTok and Telegram.

Traders can also visit the team at their offices:

• Mitrade Holding Ltd: 215-245 N Church Street, 2nd Floor, White Hall House, George Town, Grand Cayman, Cayman Islands;

• Mitrade Global Pty Ltd: Level 13, 350 Queen Street, Melbourne, VIC 3000, Australia;

• Mitrade International Ltd: Suite 707 & 708, 7th Floor, St James Court, St Dennis Street, Port Louis, Mauritius.

FAQs

Is MiTRADE regulated？

Yes. MiTRADE is regulated by ASIC under regulatory license number 398528.

At MiTRADE, are there any regional restrictions for traders？

Yes. The information on MiTRADEs site is not intended for residents of the United States, Canada, Japan, New Zealand or used by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

Which live trading accounts does MiTRADE offer？

MiTRADE offers one live account and a demo account to choose from.

Are there any fees for using the trading platform？

MiTRADE is a commission-free trading platform. The main cost of trading comes from the low spreads it charges, which vary among different markets.

Is MiTRADE a good broker for beginners？

Yes. MiTRADE is a good choice for beginners because it is regulated well and offers various trading instruments with competitive trading conditions. Also, it offers demo accounts that allow traders to practice trading without risking any real money.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

*Please note that the information in this table is subject to change and you should always refer to the broker's official website for the most up-to-date information.

STARTRADER Information

STARTRADERL's website is operated by three companies, all belonging to the same Group of Companies, which include:

- Startrader (Cy) Ltd

Registration No: HE 421001

Registered Address: 160 Archbishop Makariou III, 1st Floor, 3026 Limassol, Cyprus.

- STARTRADER International PTY Limited

Registration No: 66663183

Physical Address: Level 35, 31 Markets Street, Sydney NSW 2000, Australia.

Registration Address: Flat/RM A, 12/F, ZJ 300, 300 Lockhart Road, Wanchai, Hong Kong.

Tel: +61 2 9925 4396.

- STARTRADER Limited

Registration No: 8427362-1

Physical Address: Block B, Room 2, No.2, Global Village, Jivan's Complex, Mont Fleuri, Mahe, Seychelles.

Register Address: Suite 3, Global Village, Jivan's Complex, Mont Fleuri, Mahe, Seychelles.

Tel: +248 4325865

Email: info@startrader.com

Pros & Cons

STARTRADER offers a wide range of tradable instruments, and generous leverage up to 1:500. The broker also provides multiple trading platforms with advanced charting tools and technical analysis indicators, as well as educational resources for traders.

However, there are some downsides, such as regional restrictions and limited account types offered.

Is STARTRADER Legit？

STARTRADER has three entities under regulation:

STARTRADER PRIME GLOBAL PTY LTD is regulated by the Australia Securities & Investment Commission(ASIC) under regulatory license number: 421210.

STARTRADER Limited is offshore regulated by the Seychelles Financial Services Authority (FSA) under regulatory license number SD049.

STARTRADER INTERNATIONAL PTY LTD is regulated by the Financial Sector Conduct Authority (FSCA) under regulatory license number 52464.

These regulatory bodies typically require brokers to follow strict operational guidelines intended to protect traders.

Further adding to the broker's credibility is its employment of security measures like segregated client accounts, which refers to the practice of keeping client funds separate from the company's operating funds. It also guarantees negative balance protection, preventing clients from losing more than their account balance. The use of SSL encryption technology ensures secure data transfer.

All these factors suggest that STARTRADER is not a scam and can be considered a legit broker.

However, it's crucial for traders to be cautious and alert. This includes understanding the broker's terms and conditions and researching online reviews to gain a comprehensive understanding of other traders' experiences with the broker.

Market Intruments

STARTRADER offers 800+ market instruments for traders to choose from, providing ample opportunities for traders to invest and diversify their portfolios.

• Forex: STARTRADER offers over 50 currency pairs, including major, minor, and exotic currency pairs for forex trading, including EUR/USD, GBP/USD, USD/JPY, and AUD/CAD, among others.
• Stocks: The broker also provides access to over 700 different stocks, allowing traders to take a position on a wide range of companies across various sectors.
• Commodities: STARTRADER offers more than 10 commodities, providing an opportunity for traders to engage in the trading of both soft (like wheat, cocoa, or coffee) and hard commodities (like gold, oil, or natural gas).
• Indices: They also provide more than 20 indices, tracking various segments of the financial markets, both globally and regionally.
  

Account Types

Apart from free demo accounts, STARTRADER offers two primary live account types.

The Standard account is designed for traders who prefer fixed spreads, and is well-suited for beginners or traders who prefer a simpler trading experience. This account type offers spreads from 1.3 pips and leverage up to 1:500, with no minimum deposit disclosed.

The ECN account, on the other hand, is tailored to more experienced traders who require a more sophisticated trading experience. This account type offers spread as low as 0.0 pips and allows traders to access the interbank market, which can provide greater liquidity and potentially tighter spreads. It also offers competitive leverage up to 1:500 and no minimum deposit is disclosed.

The accepted currencies are AUD, CAD, EUR, GBP, USD, and NZD.

How to Open an Account？

Opening an account with STARTRADER is a straightforward and easy process that can be completed in just a few simple steps.

Step 1: First, visit the STARTRADER website and click on the “OPEN LIVE ACCOUNT”or “OPEN FREE DEMO ACCOUNT” button. You will be prompted to fill out a registration form, which requires you to provide some personal information, such as email address and password.

Step 2: Next, you will need to provide some additional information, such as your preferred account type (Standard or ECN), currency preference, and trading platform preference.

Step 3: After completing the registration form, you will be asked to verify your email address by clicking on a link sent to your email inbox. You will then need to provide proof of identity and address by uploading a copy of your government-issued ID and a recent utility bill or bank statement.

Step 4: Once your account is approved, you can fund your account and start trading immediately. STARTRADER supports a range of payment methods, including Bank wire transfer, Visa, MasterCard, Sticpay, Perfect Money, Wise, etc.

Leverage

TARTRADER offers a maximum trading leverage of up to 1:500, which is still relatively high compared to other brokers in the industry. While leverage can magnify potential profits, it can also increase the risks associated with trading.

Spreads & Commissions

While STARTRADER does offer transparent trading fees, the exact commission charges for ECN accounts are different due to the instrument being traded and other factors such as account activity.

For Standard accounts, there are no commissions charged on trades made through the account. Instead, the broker makes money through the spread, which is the difference between the bid and ask price of a financial instrument. The spreads offered by this broker starts from 1.3 pips.

For ECN accounts, the spreads offered by the broker are typically lower, starting from as low as 0.0 pips. However, traders are charged a commission $7 per lot traded.

Trading Platforms

STARTRADER provides four distinct trading platforms: the widely popular and extensively-used MetaTrader 4 (MT4), its newer and more sophisticated version, MetaTrader 5 (MT5), its proprietary WebTrader platform and App.

MT4 (Windows, Mac, iOS, Android, Webtrader) is renowned for its advanced technical analysis tools, algorithmic trading capabilities, and high-speed trade execution, making it a favored platform amongst traders of all experience levels. It offers traders an array of features, such as customizable charting, real-time quotes, and a vast selection of technical indicators.

MT5 (Windows, Mac, iOS, Android, Webtrader), on the other hand, is the latest version of the MetaTrader platform, offering even more advanced features and capabilities, including enhanced charting and analytical tools, multi-currency support, and a more extensive selection of timeframes. It is also designed to support additional types of assets such as stocks and futures, providing traders with greater market diversity.

STARTRADER's proprietary WebTrader platform, is a web-based trading platform that offers traders a wide range of tools, including real-time quotes, charting tools, and technical analysis indicators, while also providing a user-friendly interface that is easy to navigate.

STARTRADER also provides an App, allowing users to trade anytime and anywhere. It is available for iOS and Android platforms.

Copy Trading

STARTRADER's offering of a copy trading feature is great for traders who prefer to capitalize on the expertise of successful traders. Copy trading allows traders to directly copy the positions opened and managed by another selected trader. Hence, when the copied trader makes a trade, the same trade is automatically executed in the copying trader's account.

This can be particularly beneficial for novice traders who are still learning the ropes or people who don't have the time to study and monitor the markets consistently. It provides a form of passive management and can be a way to learn and understand more about trading strategies in real-time.

However, it's crucial to remember that all trading involves risks and just because a trader was successful in the past does not guarantee they will be in the future. Always practice risk management and ensure to align copy trading actions with your risk tolerance and financial goals.

Trading Tools

STARTRADER offers a suite of impressive trading tools that contribute towards a comprehensive and efficient trading experience.

They provide a Virtual Private Server (VPS) service which allows traders to run automated algorithmic strategies continuously 24/7 on a virtual machine, facilitating more robust connectivity and faster order execution.

Their economic calendar is a vital tool for fundamental analysis, helping traders track important economic events that have the potential to impact financial markets. This can be beneficial for planning trades and managing risk.

In addition, their news room serves as a source for real-time market news, keeping traders updated about significant developments that can cause market volatility.

Deposit & Withdrawal

STARTRADER supports a variety of deposit and withdrawal methods for its clients, with a minimum deposit requirement of $50. The broker allows deposits via several methods, including Bank wire transfer, Visa, MasterCard, Sticpay, Perfect Money, Wise, etc. There are zero deposit fees on most payment methods.

Deposits made via bank wire transfer can take 3-5 business days to clear, while deposits made via other methods are typically processed instantly. For withdrawals, clients can use the same methods as for deposits, with processing times varying depending on the chosen method.

To withdraw funds, you should log to “My account” with your username and password. Initiate the request to withdraw funds. Here are some important notifications you should notice when withdrawing funds:

• Withdrawal forms received after 21:00 (GMT) will be processed the following day. If these are received before 07:30 (GMT) theyll be processed on the same day.
• Any International Telegraphic Transfer (TT) fees charged by the banking institution are passed onto the client. Most International TTs are approximately $20.

Bonus & Promotions

There are many promotions available at STARTRADERL, including 20% cumulative bonus up to $10,000, 50% first deposit bonus, 20% subsequent deposit bonus. The registration period is from 00:00 May 13th, 2024 to 23:59 December 31st, 2024 (based on MT4 time).

Affiliate switch bonus is also offered, from 00:00 01.08.2024 to 23:59 31.12.2024 (based on MT4 time). But it is only for FX pairs, Gold, Silver, Oil products and Index. Commodities and Crypto are not applicable.

You can find more detailed info about promotions on their site.

Education

STARTRADER offers some educational resources designed to help traders improve their knowledge and skills in the Forex and CFD markets. These resources include webinars and a knowledge center.

The educational webinars are conducted by market experts who provide traders with insights and analysis on a range of topics, from technical analysis to risk management. The webinars are designed to help traders stay up to date with market developments and make informed trading decisions.

In addition to webinars, STARTRADER also provides traders with a knowledge center, which includes some educational materials such as e-books, videos, and tutorials. These materials are aimed at traders of all levels, from beginners to advanced traders, and cover a wide range of topics such as trading strategies, market analysis, and risk management.

Customer Service

Contact Channel	Details
	LIve chat
	Contact form
	info@startrader.com
	https://www.facebook.com/startrader.intl/
	https://www.youtube.com/@Startrader.international/feature
	https://www.instagram.com/startrader.international/
	https://www.linkedin.cn/incareer/company/startrader-global/
	https://twitter.com/STARTRADER_int
	https://www.tiktok.com/@startraderofficial
	https://t.me/STARTRADER_Official

Q&A

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.