Mitrade Review — Forex & CFD Broker Fees, Regulation & Safety

Pros

Multi-jurisdiction licensing (ASIC Australia, CySEC Cyprus, FSCA South Africa) with an easy, beginner-friendly proprietary platform
Commission-free spread-only pricing; Australian platform reportedly carries a Lloyd's of London excess-of-loss insurance policy (capped at AUD 1,000,000 for qualifying claims on insolvency)
Wide CFD coverage (forex, indices, commodities, crypto, ETFs, shares) on web + mobile, with demo accounts and modern payment options (Apple Pay/Google Pay in AU)

Cons

Regulatory history includes a 2023 ASIC interim stop order (later revoked) and a 2024 Philippines SEC advisory — worth reading before depositing
Own platform only — no MetaTrader 4/5 or cTrader for advanced/algorithmic traders
Leveraged CFDs are high-risk, and the UAE licence covers promotion only, not brokerage — entity coverage varies a lot by country

Feature summary

CategoryForex

Minimum depositVaries by account type — check the official site

Demo accountAvailable

PlatformProprietary web platform, iOS/Android mobile app

InstrumentsForex CFDs, Index CFDs, Commodity CFDs, Crypto CFDs, ETF CFDs, Share CFDs

SupportLive chat, email & phone (market hours)

Regulation statusOperates through separate entities per region: Mitrade Global Pty Ltd (Australia) under ASIC; MiTrade EU Limited (Cyprus) under CySEC (licence 438/23, since 9 October 2023); a Financial Sector Conduct Authority (FSCA) entity in South Africa via the 2025 acquisition of Fridah Asset Managers (to be renamed Mitrade Markets Pty Ltd); plus a 2026 UAE Capital Markets Authority Category 5 licence limited to introduction/promotion only (NOT brokerage). Which entity serves you — and its protections — depends on your country. Verify directly with the relevant regulator before signing up.

Fee modelCommission-free, spread-only pricing (plus overnight funding on leveraged positions) — exact spreads not yet verified in detail

Estimated cost per lotSpread-only model (commission-free) — exact spreads not yet verified

Risk & regulation notes

Public regulatory history worth knowing before signing up: in 2023 the Australian regulator ASIC issued an interim stop order against Mitrade Global Pty Ltd over design-and-distribution-obligation concerns (including a retail-investor questionnaire that allowed unlimited attempts to pass and inadequate target-market assessment), preventing it from opening accounts or dealing CFDs/margin FX with retail investors — ASIC revoked the order on 26 July 2023 after Mitrade addressed the concerns. Separately, in March 2024 the Philippines SEC issued an advisory that the platform lacked the necessary local permissions to offer instruments to the public there. Neither is a finding of guilt, but both are relevant public facts. As always, regulatory status reduces institutional risk, not the market risk of leveraged CFD trading (most retail CFD accounts lose money).

Primary sources

Product facts are summarized from the broker's official materials. A broker's own claims are not automatically treated as independent verification.

Update history

2026-08-01
Editorial review 2026-08-23: facts verified from Wikipedia (sourced to Finance Magnates, LeapRate, ASIC, CySEC, Philippines SEC). Score reflects genuine multi-regulator licensing tempered by the 2023 ASIC stop order (revoked) and 2024 Philippines advisory. Exact spreads/min-deposit not yet independently verified.