Mitrade Broker Review: An in-depth Look At this Rising Platform

Greetings everyone, today I'll be conducting a detailed review of a trading platform that's been generating a lot of buzz in the industry, Mitrade. In this article, we'll evaluate Mitrade's offerings, regulations, and learning resources among other things to provide expert insight into its strengths and weaknesses as a broker.

Mitrade Global Pty Ltd began its services in 2018, hence it's somewhat of a new player in the brokerage market. Despite this, it seems they've done quite well to establish their presence.

Account Management

To get started with Mitrade, you will need an initial deposit of just $50. This is relatively low and user-friendly for new traders who do not have a hefty amount to invest initially. This also encourages traders to try out the platform without making a huge commitment.

Additionally, the minimum position size is 0.01, which further makes it possible for traders with a limited budget to participate in the stock market.

Regulations

One important aspect of reviewing brokers is verifying whether they are seriously regulated. Trustworthy regulation is critical in building user confidence, as it provides some measure of protection against scams and misconduct.

It's commendable that Mitrade is serious about their regulatory requirements. This suggests that they are focused on maintaining high levels of transparency in their operations.

Spreads

Mitrade boasts of low spreads, which is a major advantage for any trader. Lower spreads mean traders can enter and exit trades at a lower cost, which adds up to more profits in the long run.

US Traders

Unfortunately for traders based in the United States, currently, they are not allowed to participate in trading on the Mitrade platform. Hopefully, in the future, Mitrade may reconsider this policy to expand their user base.

Company Info & Features

As mentioned before, Mitrade Global was founded and started online services in 2018. Despite being relatively new, they have managed to make their mark in the trading world which must be appreciated.

One unique aspect of Mitrade is their feature of trading by phone. This flexible offering allows traders to be active even they don't have access to a computer. In today's fast-paced world, such mobility and convenience make a huge difference.

Moreover, Mitrade provides free education; an offering which bolsters its appeal to beginner traders. Access to knowledge resources assists newcomers in the understanding of trading basics and challenges, thus enriching their trading experience.

Max Leverage

For the leverage offering, it seems to be encoded, so I can't provide a detail on that. However, it's important to note that while leverage can magnify profits, it can also amplify losses. Therefore, traders should use leverage wisely.

Overall Rating

Based on the averages from multiple sources, Mitrade enjoys a fairly good reputation in the industry with no details given on specific ratings.

It's clear from their offerings that Mitrade is dedicated to providing a welcoming and supportive space for traders. It's particularly a suitable choice for beginners considering the low minimum deposit, small position sizes and free education.

However, no broker is without some downsides. The prohibition of US traders and the unspecified leverage are minor stumbling blocks in an otherwise well-round platform.

Thank you for taking the time to read this review. We aim to provide unbiased commentary and examination to help all traders make well-informed decisions. Be sure to stay tuned to DayFunded for more in-depth reviews and analyses of your favourite brokers!