Mitrade vs CommSec

Mitrade vs CommSec Comparison Table 2024
Mitrade	CommSec
Review 3.5	Review Not Yet Rated

MiTrade is a Australian CFD and forex broker with top-tier regulation from ASIC. The broker offers zero minimum deposit requirement, 24/5 customer support and a sleek proprietary platform. The brand has been recognized with global awards and has gained a client base of over 2.4 million.	CommSec is a top Australian retail broker offering a suite of trading tools & products.
Bonus Offer
$50 welcome bonus
Comment by Reviewer
"Based on my extensive tests, I think MiTrade is a good choice for novice investors looking for hundreds of instruments, educational content and an award-winning bespoke trading platform."
Pros
I think the online education courses, real-time market news and expert analysis resources are extensive and will be useful for both beginners and intermediate traders The intuitive trading terminal and mobile app with in-built technical indicators, custom charting and trend analysis are notable advantages for technical traders I appreciate the zero minimum deposit requirement, plus free deposits and withdrawals and no hidden charges - ideal for traders on a budget I'm pleased to see top-tier regulatory oversight from ASIC with negative balance protection and segregated client funds for some clients I found a decent list of international payment methods including POLi, Skrill, Neteller, wire transfer and credit/debit card Responsive customer support is also available 24/5 including live chat and an online contact form
Cons
There is only one choice of platform which I think will put MiTrade at a disadvantage compared to other brands It's disappointing that there are no advanced tools including copy trading and a VPS I'm a little hesitant that global traders will be registering with the offshore entities
Awards
	Innovation Excellence 2020 - Canstar
Instruments
CFDs, Forex, Stocks	Shares, Options, ETFs, Warrants, Fixed Income Securities
Demo Account
Yes	No
Minimum Deposit
$0	$500
Trading Platforms
Own	Own
Payment Methods
Credit Card Debit Card Mastercard POLi Skrill Visa Wire Transfer	Credit Card PayID Wire Transfer
Minimum Trade
0.01 Lots	0.01 Lots
Regulator
ASIC, FSC, CIMA	ASIC
Margin Trading
No	No
STP Account
No	No
ECN Account
No	No
DMA Account
No	Yes
MAM Account
No	No
PAMM Account
No	No
LAMM Account
No	No
Demat Account
No	No
AI / Machine Learning
No	No
Robo Advisor
No	No
Negative Balance Protection
No	No
Market Maker
No	No
P2P Trading
No	No
Spot Trading
No	No
Mobile Apps
iOS & Android	Yes
Copy Trading
No	No
Social Trading
No	No
Trade Signals
No
VPS Hosting
No	No
Tournaments
No	No
Demo Competitions
No	No
Ethical Investing
No	No
Custodial Account
No	No
Guaranteed Stop Loss
No	No
Islamic Account
No	No
Account Currencies
USD AUD	USD EUR GBP AUD
Stock Exchanges
Australian Securities Exchange (ASX) Deutsche Boerse Euronext Hong Kong Stock Exchange Japan Exchange Group New York Stock Exchange	London Stock Exchange New York Stock Exchange
CFD Trading
There's a decent range of 500+ CFD products on a proprietary terminal including forex, stocks, shares and commodities with competitive spreads. I appreciated the 24/5 customer support, market insights and sentiment data to help me make informed CFD trading decisions.	CFD trading not offered
Leverage
1:30 (Retail), 1:250 (Pro)
FTSE Spread
3
GBPUSD Spread
1.5
Oil Spread
0.05
Stocks Spread
Variable
Forex Trading
During my tests, I was pleased to uncover 60+ major, minor and exotic currency pairs, such as EUR/USD, AUD/USD and GBP/JPY with a minimum trade size of 0.01 lots and no commission fees. I also noted no hidden fees and free access to market insights.ith leverage through Mitrade's proprietary web-based trading platform.	Forex trading not offered
GBPUSD Spread
1.5
EURUSD Spread
1
EURGBP Spread
1.2
Assets
60

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