Mitrade vs FP Markets

Mitrade vs FP Markets Comparison Table 2024
Mitrade FP Markets
3.5
4
United States Flag Traders from US not accepted
United States Flag Traders from US not accepted

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.

FP Markets is an ASIC- and CySEC-regulated broker that offers forex and CFD trading on a broad range of assets through the MT4, MT5 and IRESS platforms. With trading available through standard and raw spread accounts on thousands of international stocks, forex, indices, commodities, cryptocurrencies, bonds and ETFs, this broker has some of the most comprehensive market coverage available. FP Markets also offers a full range of additional features, including educational resources and access to powerful software such as Autochartist.

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." "We recommend FP Markets for forex and stock traders with 70+ currency pairs and an impressive 10,000+ stocks available as CFDs."
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
  • Regulated and reputable broker with ASIC and CySEC oversight
  • Tight spreads available on both the standard and raw spread account
  • Good range of additional tools and features including educational content, Myfxbook and Autochartist
  • Excellent line-up of charting platforms including MT4, MT5, cTrader and TradingView
  • Bespoke copy trading platform
  • High leverage up to 1:500
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
  • $55 subscription fee on IRESS accounts
  • Withdrawal fees for some payment types
  • Does not accept US customers
Awards
  • Best Global Forex Value Broker 2019 - Global Forex Awards
  • Best Quality of Trade Execution 2019 - Investment Trends
Instruments
CFDs, Forex, Stocks CFDs, Forex, Stocks, Indices, Commodities, Bonds, ETFs, Crypto
Demo Account
Yes Yes
Minimum Deposit
$0 $100
Trading Platforms
  • Own
  • MT4
  • MT5
  • cTrader
  • TradingView
  • AutoChartist
  • TradingCentral
Payment Methods
Minimum Trade
0.01 Lots 0.01 Lots
Regulator
ASIC, FSC, CIMA ASIC, CySEC, ESMA
Margin Trading
No No
STP Account
No Yes
ECN Account
No Yes
DMA Account
No Yes
MAM Account
No Yes
PAMM Account
No Yes
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
No No
Robo Advisor
No No
Negative Balance Protection
No Yes
Market Maker
No Yes
P2P Trading
No No
Spot Trading
No Yes
Mobile Apps
iOS & Android iOS & Android
Auto Trading
Expert Advisors (EAs) on MetaTrader
Copy Trading
No Yes
Copy Trading Platform
FP Markets Social Trading app allows for the straightforward mirroring of established traders with an easy-to-follow ranking system.
Social Trading
No Yes
Trade Signals
No
VPS Hosting
No Yes
Tournaments
No No
Demo Competitions
No No
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No No
Inactivity Fee
$0
Islamic Account
No Yes
Account Currencies
  • USD
  • AUD
  • USD
  • EUR
  • GBP
  • CAD
  • AUD
  • JPY
  • TRY
  • CHF
  • PLN
  • CZK
  • THB
  • VND
Stock Exchanges
Commodities
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. FP Markets' CFD trading covers a range of markets, including 10,000+ equities, indices, commodities, cryptocurrencies and ETFs. Spreads are tight and traders get fast execution speeds.
Leverage
1:30 (Retail), 1:250 (Pro) 1:30 (UK), 1:500 (Global)
FTSE Spread
3 1.64
GBPUSD Spread
1.5 1.9 average
Oil Spread
0.05 0.04
Stocks Spread
Variable 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. FP Markets is a good option for forex traders, with 70+ pairs covering an excellent range of currencies. Spreads are already tight on standard accounts and start from zero on raw spread accounts, and the broker offers high leverage up to 1:500 and top-tier liquidity.
GBPUSD Spread
1.5 1.9
EURUSD Spread
1 1.1
EURGBP Spread
1.2 1.7
Assets
60 60+
Currency Indices
  • USD
Cryptocurrency
Crypto trading not offered Take positions on popular cryptocurrencies, including Bitcoin, Ethereum, Ripple, Bitcoin Cash, and Litecoin with leveraged CFDs. However, you cannot directly buy and own crypto tokens.
Spread
Floating
Coins
  • ADA
  • BCH
  • BTC
  • DOG
  • DOT
  • EOS
  • ETH
  • LNK
  • LTX
  • XRP
  • SOL
  • XLM
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
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