MiTrade

MiTrade

MiTrade positions itself as a financial company that aims to provide a simple and convenient experience in trading Contracts for Difference (CFDs) while adhering to strict regulatory standards. The company utilizes its own platform, offering access to international financial markets and a wide range of trading instruments, including stocks, indices, commodities, and currencies. MiTrade claims to have competitive transaction costs, ensures fast trade execution, provides world-class customer service, and offers tools to capitalize on investment and trading opportunities.

Broker MiTrade is subject to strict regulation by several leading organizations: the Cayman Islands Monetary Authority (CIMA), license number SIB – 1612446, the Australian Securities and Investments Commission (ASIC), and holds an Australian Financial Services License (AFSL 398528). Registered office: Buckingham Square, Phase II, 2nd Fl, 720 West Bay Road, George Town, Grand Cayman, Cayman Islands. However, it is important to note that the company has not provided official documents to confirm its claims, nor has it displayed the license of the Central Bank of Russia, which raises doubts about its legal standing.

Communication with clients is conducted through email and an online form for inquiries. Support service via online chat is also available.

MiTrade Trading Conditions

MiTrade is prepared to work with clients of varying levels of expertise, offering an extensive educational program, numerous additional features, analytical data, real-time news, and trading tools. The company allows for the opening of a demo account for training purposes. There are no pre-designed trading accounts, but the broker highlights the following benefits of collaboration:

• constant professional support,

• access to various trading instruments, including CFD contracts, indices, commodities, and forex,

• tight spreads,

• transparent policy,

• protection against negative balance,

• user-friendly platform and straightforward trading process.

MiTrade also offers its clients the opportunity to take advantage of promotional privileges and a referral program, although the website lacks a clear description of the terms of these offers.

Account Funding and Withdrawal from MiTrade

The company has not specified the minimum starting capital and base currency for working with them. The financial aspect of collaboration remains undisclosed. No commission is charged for payment operations, except for transfers through an intermediary bank. Maximum and minimum transaction amounts are not provided.

Conclusion

MiTrade is an online company not backed by official documents and the license of the Central Bank of Russia. Due to the absence of necessary documentation, its legality is questionable. The company does not provide details on trading accounts for clients, fails to specify collaboration terms, and conceals financial aspects of its operations, such as minimum investments and service fees.