The company Mitrade Global Pty Limited is authorised and regulated by the Australian Securities and Investments Commission (ASIC) and offers for trading over 60 currency pairs, more than 10 indices, commodities and cryptocurrencies.
Customers can deal online through the web-based version of the company’s own platform. The WebTrader uses HTML5 and is compatible with all major browsers. After a quick registration and logging in, the workspace is loaded. There are two main windows on the white background. The account status bar is above them and shows available cash, profit/loss, equity and required margin. There is a search box where the desired instrument can be found and added to favorites.
The window on the left side is for instruments. It displays their names, real-time buy and sell prices and daily changes. Instruments can be sorted by popularity or by asset groups from the drop-down menu at the top of this window. Clicking the instrument name leads to placing the corresponding chart into the chart window, which occupies the main part of the workspace.
Charts can be shown as candlesticks or bars. 12 of the most used technical indicators are available for placing. Time frames can be chosen from 1 minute to 1 month. Any change in the price is reflected and the current candle is drawn in real time. There is a zooming tool below the chart, which is also used for displaying past candles.
Orders can be placed directly from the chart window. Clicking the buy or sell button here opens the trade window. Then you enter the quantity in lots and press sell/buy to submit the order. You can attach take profit and stop loss orders or set the trailing stop order. Entry orders are managed also here. After placing the order, you can view its properties in the position window. You can close it directly from the instruments window where it is also shown.
Price alerts can be added from the chart window as well. Clicking the alert symbol opens the new alert window.
A vertical menu bar on the left side contains buttons that switch between trade and notification mode. You can also fund the account here.
In our opinion, this is an extremely simple and easy to use platform. Although it provides basic trading tools, experienced customers will notice the lack of customization and automated trading capabilities.