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Do you want to know which is the better broker between MiTRADE and Swissquote ?
In the table below, you can compare the features of MiTRADE , Swissquote side by side to determine the best fit for your needs.
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You can determine the reliability and credibility of a broker by checking four factors:
1.Forex broker introduction。
2.Are the transaction costs and expenses of mitrade, swissquote lower?
3.Which broker is safer?
4.Which broker provides better trading platform?
Based on these four factors, we can compare which is reliable. We have broken down the reasons as follows:
Broker Name | MiTRADE |
Founded | 2010 |
Registered Country | Australia |
Regulation | ASIC, CySEC |
Market Instruments | Forex, indices, commodities, shares, ETFs |
Demo Account | |
Leverage | Up to 1:200 |
EUR/USD Spread | From 1 pip |
Commission | $0 |
Trading Platform | Mitrade Mobile App, Desktop, WebTrader |
Minimum Deposit | Not mentioned |
Customer Support | 24/5 live chat, contact form, email: cs@mitrade.com |
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.
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.
Pros | Cons |
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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.
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.
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.
To open an account with MiTRADE, you can follow a simple process:
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.
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.
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.
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.
Payment Method | Deposit Processing Time |
Visa/Mastercard | Instant, within 3 minutes |
Bank Transfer | |
E-Wallet | |
QR Code Payment |
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.
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
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.
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.
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.
Swissquote | Basic Information |
Founded in | 1996 |
Headquarters | Gland, Switzerland |
Regulation | FCA, MFSA, FINMA, DFSA |
Tradable Instruments | Stocks, currency pairs, precious metals, stock indices, commodities, bonds |
Demo Account | ✅ |
Leverage | Up to 1:30 (retail)/1:100 (professional) |
Spread | From 0.6 pips (Prime account) |
Trading Platform | Mobile App, MT4, MT5, Money Managers |
Minimum Deposit | 1,000 EUR/USD/GBP/CHF |
Customer Support | Phone, Email, Live Chat |
Regional Restrictions | USA |
Swissquote is a leading online forex and financial trading broker headquartered in Switzerland. It was established in 1996 and has since grown to become a popular choice among traders worldwide. The broker offers a wide range of financial instruments to trade, including forex, stocks, indices, commodities, bonds, and cryptocurrencies. Swissquote provides its clients with access to several trading platforms, including Mobile App, MT4, MT5, and Money Managers.
Swissquote is areputable and regulated broker, offering an array of financial instruments and account types for traders to choose from. As with any broker, there are advantages and disadvantages to consider. In the following table, we present a summary of the key pros and cons of trading with Swissquote.
Swissquote undoubtedly offers a comprehensive range of trading instruments and state-of-the-art trading platforms. However, despite its many strengths, it falls short in terms of customer support, as it does not provide round-the-clock assistance, which can be a major drawback for traders who require immediate assistance during off-hours or in emergency situations.
Pros | Cons |
Regulated by reputable authorities | Limited education and research resources |
Wide range of trading instruments | Inactivity fee charged after 24 months of inactivity |
Competitive spreads | No 24/7 customer support |
Demo accounts available | High minimum deposit requirement |
Various account types with different features | Limited customer support options outside of business hours |
Availability of advanced trading platforms - MT4, MT5 | No US clients accepted |
Efficient and reliable customer support during business hours |
Yes, Swissquote is a legitimate broker with four entities under respective jurisdictions:
Swissquote Bank Ltd, which is based in Switzerland, is regulated by the Swiss Financial Market Supervisory Authority (FINMA).
Swissquote Ltd, which is based in the United Kingdom, is regulated by the Financial Conduct Authority (FCA).
Swissquote MEA Ltd, which is based in Dubai, is regulated by the Dubai Financial Services Authority (DFSA).
SWISSQUOTE FINANCIAL SERVICES (MALTA) LTD, is regulated by the Malta Financial Services Authority (MFSA).
These regulatory authorities ensure that Swissquote adheres to strict standards in terms of financial stability, transparency, and investor protection.
Swissquote offers a wide range of market instruments for trading, including 400+ forex and CFD instruments, commodities, stock indices, shares, bonds, and cryptocurrencies. As a well-established Swiss broker, Swissquote is able to offer trading on several Swiss-specific instruments, such as the Swiss Market Index (SMI) and the Swissquote Group Holding Ltd. (SQN) stock, as well as access to other global exchanges such as the NYSE, NASDAQ, and LSE.
Swissquote offers a range of account types to cater to the varying needs and preferences of its clients. The primary account types available are the Premium Account, Prime Account, Elite Account and Professional Account. Each account type comes with distinct features and benefits, such as different minimum deposit requirements, leverage ratios, and spreads. The Premium Account requires a minimum deposit of 1,000 CHF or equivalent, while the Prime Accounts require a higher minimum deposit of 5,000 CHF or equivalent. The Elite and Professional accounts ask for the highest minimum deposit of 10,0000 CHF or equivalent.
The Standard Account provides clients with access to a wide range of financial instruments, including forex, CFDs, stocks, options, futures, and bonds. The Premium Account, on the other hand, is designed for high-volume traders and offers lower spreads and commissions, as well as personalized service. The Prime Account is designed for institutional clients and provides them with a dedicated account manager, as well as access to exclusive liquidity and pricing.
Moreover, Swissquote also offers an Islamic Account, which is compliant with Sharia law and is available to clients who follow the Islamic faith.
Swissquote offers a free demo account for clients to practice trading strategies and test out the broker's trading platforms without risking any real funds. The demo account provides users with virtual funds to trade on the same live markets as the actual trading accounts. The account comes with real-time pricing and charting tools, allowing traders to simulate trading conditions as closely as possible. This is an excellent opportunity for traders to get familiar with the broker's platforms and trading environment before committing any real money. Moreover, the demo account is ideal for both novice and experienced traders who want to try new trading strategies or test their current trading strategies without incurring any financial risk.
Step 1: Visit the Swissquote website and click on the “Open your account” button.
Step 2: Provide personal information, such as name, email, and phone number, along with a valid identification document, such as a passport or driver's license.
Step 3: After the account is created and verified, the next step is to select the desired account type and deposit funds, such as Premium, Prime or Elite accounts.
Step 4: Agree to the terms and conditions and submit your application.
Step 5: Swissquote offers several convenient deposit methods, including debit card (Visa, MasterCard) and bank wire transfer.
Step 6: Once the account is funded, traders can access the trading platforms, begin analyzing the markets, and placing trades on a variety of financial instruments.
Swissquote offers variable leverage levels depending on the financial instrument and the account type. For forex trading, the maximum leverage available is typically 1:30 for retail clients and up to 1:100 for professional clients who meet certain criteria. For CFD trading on indices, commodities, and cryptocurrencies, the maximum leverage ranges from 1:10 to 1:5, depending on the underlying asset.
Always keep in mind that high leverage can significantly increase the potential gains, but it can also magnify the losses, so it's important to use it with caution and always keep in mind the risks involved.
Swissquote offers competitive spreads and commissions to its clients. The exact costs depend on the type of account and the trading instrument being traded. The Premium Account has variable spreads, with the EUR/USD spread starting from 1.3 pips, while the Prime Account offers spreads starting from 0.6 pips. The Elite Account offers spreads as low as 0.0 pips, but it requires a higher minimum deposit and trading volume. The professional accounts provide spreads from 0.0 pips too.
In terms of commissions, the Premium Account and Prime Account charge zero commission. The Elite Account and the Professional Account charge a commission of EUR2.5 per side per lot traded. Overall, Swissquote is often seen as competitive in terms of spreads and commissions when compared to other major brokers.
Non-trading fees are fees that Swissquote charges its clients for services that are not directly related to trading activities. Swissquote has a relatively low level of non-trading fees compared to other brokers. Swissquote does not charge deposit and withdrawal fees, which depend on the method used. Swissquote also charges an inactivity fee of CHF 50 per quarter if no trades have been made during the last 6 months. This fee is lower than the industry average, which is around $15 per month.
Besides, Swissquote also charges overnight swap fees, also known as rollover fees or financing fees, on positions that are held overnight. The amount of the fee depends on the currency pair, the size of the position, and the prevailing interest rates in the respective countries.
Swissquote offers Mobile App, MT4, MT5, and Money Managers.
MT4: Swissquote offers the popular MetaTrader 4 (MT4) trading platform to its clients, which is widely recognized in the industry for its reliability, speed, and advanced charting tools. MT4 is available for download on desktop, web, and mobile devices, allowing traders to access their accounts and manage their trades from anywhere at any time. Swissquote also offers a range of customized tools and indicators, allowing traders to personalize their trading experience on the platform. Additionally, Swissquote provides free access to Autochartist, a popular technical analysis tool that helps traders identify potential trading opportunities.
MT5: Swissquote also offers the MetaTrader 5 (MT5) platform to its clients, which is the successor to the popular MT4 platform. MT5 has several advanced features such as improved charting capabilities, additional order types, and an economic calendar. Clients can also use MT5's algorithmic trading capabilities through the use of Expert Advisors (EAs) to automate their trading strategies. Swissquote's MT5 platform is available for desktop, web, and mobile devices, making it easily accessible for traders on the go.
Swissquote offers two primary deposit methods: debit card (Visa, MasterCard), bank wire transfer. With wire transfer, clients can make deposits in various currencies, but the process may take longer, typically taking 1 to 2 business days to reflect on their account. On the other hand, debit card deposits are processed faster, typically within a few minutes, and they are available in CHF, EUR, GBP, EUR, AUD, JPY, PLN, CZK, HUF and USD.
For withdrawals, Swissquote typically processes requests within 1 to 2 business days. Clients can withdraw funds using the same methods they used to deposit funds. However, it's important to note that some withdrawal methods may incur fees, so it's essential to check with the broker first before initiating a withdrawal request.
Swissquote offers a plethora of educational resources to help traders of all levels enhance their knowledge and skills. The broker provides various learning materials, including webinars, seminars, online courses, and e-books. Additionally, Swissquote offers market analysis and news to keep clients informed about the latest developments in the financial markets.
In conclusion, Swissquote is a well-established and highly regulated forex broker offering a wide range of trading instruments, advanced trading platforms, and competitive trading conditions. The broker has earned a strong reputation for its commitment to security, transparency, and innovation, which has made it a preferred choice for traders looking for a reliable and trustworthy trading partner. While the broker's high minimum deposit requirement may be a challenge for some traders, its educational resources and excellent customer support help to offset this disadvantage.
Is Swissquote a regulated broker?
Yes, Swissquote is regulated by several financial authorities, including FCA, MFSA, FINMA, and DFSA.
What trading platforms are offered by Swissquote?
Swissquote offers several trading platforms, including the MetaTrader 4 and 5 platforms, Mobile App, and Money Managers.
What is the minimum deposit required to open an account with Swissquote?
The minimum deposit required to open an account with Swissquote is 1,000 EUR/USD/GBP/CHF.
Does Swissquote offer demo accounts?
Yes, Swissquote offers a free demo account with virtual funds for traders to practice trading strategies.
How can I deposit and withdraw funds from my Swissquote account?
You can deposit and withdraw funds from your Swissquote account using bank wire transfer or debit card (Visa, MasterCard),.
To compare transaction costs across different brokers, our experts analyze the transaction-specific fees (such as spreads) and non-trading fees (such as inactivity fees and payment costs).
To get a comprehensive understanding of how cheap or expensive mitrade and swissquote are, we first considered common fees for standard accounts. On mitrade, the average spread for the EUR/USD currency pair is -- pips, while on swissquote the spread is --.
To determine the safety of our top brokers, our experts will consider many factors. This includes which licenses the broker holds and the credibility of these licenses. We also consider the history of brokers, because long-term brokers are usually more reliable and trustworthy than new brokers.
mitrade is regulated by ASIC,CYSEC. swissquote is regulated by FCA,MFSA,FINMA,DFSA.
When our experts review brokers, they will open their own accounts and trade through the broker's trading platform. This enables them to comprehensively evaluate the quality, ease of use, and function of the platform.
mitrade provides trading platform including -- and trading variety including --. swissquote provides trading platform including professional ,standard,prime,premium and trading variety including custom.