WikiFX, as an independent third-party information service platform, is dedicated to providing users with comprehensive and objective broker regulatory information services. WikiFX does not directly engage in any forex trading activities, nor does it offer any form of trading channel recommendations or investment advice. The ratings and evaluations of brokers by WikiFX are based on publicly available objective information and take into account the regulatory policy differences of various countries and regions. Broker ratings and evaluations are the core products of WikiFX, and we firmly oppose any commercial practices that may compromise their objectivity and fairness. We welcome supervision and suggestions from users worldwide. To report any concerns, please contact us: report@wikifx.com
Global Broker Regulation & Inquiry App

Score

0123456789
.
0123456789
0123456789
/10

Mitrate

United Kingdom|2-5 years|
Suspicious Scope of Business|High potential risk|

https://mitrate.com

Website

Rating Index

Contact

+441616763519
support@mitrate.com
https://mitrate.com
Witbi, Unit 15, Carnival Park, Basildon, SS14 3WN

Licenses

No valid regulatory information, please be aware of the risk!

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Check whenever you want

Download App for complete information

Warning: Low score, please stay away! 2
Previous Detection : 2024-09-22
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The current information shows that this broker does not have a trading software. Please be aware!

WikiFX Verification

Mitrate · WikiFX Survey

Users who viewed Mitrate also viewed..

XM

9.04
Score
10-15 yearsRegulated in AustraliaMarket Making(MM)MT4 Full License
Official website

VT Markets

8.59
Score
5-10 yearsRegulated in AustraliaMarket Making(MM)MT4 Full License
Official website

EC Markets

9.04
Score
10-15 yearsRegulated in AustraliaMarket Making(MM)MT4 Full License
Official website

ATFX

8.70
Score
5-10 yearsRegulated in AustraliaMarket Making(MM)MT4 Full License
Official website

Mitrate · Company Summary

Aspect Information
Registered Country/Area United Kingdom
Founded Year Not specified
Company Name Mitra Investment Ltd
Regulation Not regulated by the Financial Conduct Authority (FCA)
Minimum Deposit USD 250
Maximum Leverage Up to 1:100
Spreads Varies depending on the instrument and account type chosen
Trading Platforms Not specified
Tradable Assets Forex currency pairs, stocks, and indexes
Account Types Not specified
Demo Account Not specified
Islamic Account Not specified
Customer Support Phone: +441616763519<br>Email: support@mitrate.com
Payment Methods Mastercard, VISA, American Express, POLi, BPay, SOFORT, GiroPay, wire transfer, Apple Pay, Bitcoin, PayPal
Educational Tools Not specified

Overview of Mitrate

Mitrate, a broker claiming affiliation with Mitra Investment Ltd based in the United Kingdom, lacks valid regulation and is not listed as a licensed broker by the Financial Conduct Authority (FCA). This raises concerns about the legitimacy of Mitrate, indicating that it operates as a fraudulent entity. To ensure the safety of investments, it is strongly advised to approach legitimate brokers regulated by reputable institutions like the FCA.

Mitrate offers a range of market instruments for trading, including forex currency pairs, stocks, and indexes. Forex currency pairs enable traders to participate in the foreign exchange market, while stocks allow investors to invest in individual companies. Indexes provide traders with exposure to the overall performance of specific markets or sectors. However, due to Mitrate's lack of regulation and fraudulent nature, caution should be exercised when considering any financial transactions with them.

Mitrate provides leverage options to its traders, allowing them to amplify their trading positions. The leverage ratios offered may vary depending on the specific instrument and account type. It is important to understand that while leverage can enhance potential profits, it also magnifies the risks involved in trading. Mitrate applies spreads and commissions to its trading services, with specific numbers varying based on the instrument and account type. Traders should review and compare these costs with other brokers to make informed decisions based on their trading strategies and preferences.

Pros and Cons

Mitrate presents a mixed bag of pros and cons. On the positive side, it offers a wide range of market instruments, including forex, stocks, and indexes, providing traders with diverse investment options. The availability of leverage options and multiple withdrawal methods are also available. Furthermore, customer support through phone and email ensures assistance for users. However, there are notable drawbacks to consider. Mitrate lacks valid regulation and affiliation with the Financial Conduct Authority (FCA), raising concerns about its legitimacy. Additionally, the lack of specific information about account types and conditions, transparency regarding trading platform availability, and unclear spreads and commissions information create uncertainty for potential investors. Furthermore, the company's main website being up for sale and the unclear information about trading platform quality further contribute to the cons.

Pros Cons
Wide range of market instruments (forex, stocks, indexes) Lack of valid regulation and affiliation with the FCA
Availability of leverage options Lack of specific information about account types and conditions
Customer support through phone and email Lack of transparency regarding trading platform availability
Various deposit methods accepted Unclear spreads and commissions information
Multiple withdrawal options Minimum deposit and withdrawal amounts
Main website is currently for sale
Unclear information about trading platform quality

Is Mitrate Legit?

Mitrate, a broker claiming to be associated with Mitra Investment Ltd based in the United Kingdom, lacks valid regulation. Despite stating their affiliation with the UK, they are not listed as a licensed broker by the Financial Conduct Authority (FCA), the regulatory body overseeing brokers in the country. This raises concerns about their legitimacy. It is evident that Mitrate operates as a fraudulent entity. To ensure the safety of your investments, it is strongly advised to approach a legitimate broker regulated by reputable institutions like the FCA. These regulated brokers adhere to stringent transparency and financial stability requirements, including minimum net capital obligations and participation in guarantee schemes that protect clients' investments in case of insolvency.

regulation
regulation

Market Instruments

Mitrate offers a range of market instruments for trading, including forex currency pairs, stocks, and indexes.

1. Forex Currency Pairs: Mitrate provides access to a variety of forex currency pairs, allowing traders to participate in the foreign exchange market. Examples of currency pairs available for trading may include EUR/USD, GBP/JPY, or AUD/CAD. These currency pairs represent the exchange rates between different global currencies and provide opportunities for investors to speculate on price movements.

2. Stocks: Mitrate enables traders to invest in individual stocks of various companies. These stocks represent ownership in a specific company and provide potential returns based on the company's performance and market conditions. Examples of stocks that may be available for trading include shares of well-known companies such as Apple, Google, or Microsoft. Traders can analyze market trends, company financials, and other relevant factors to make informed decisions about buying or selling stocks.

3. Indexes: Mitrate offers trading opportunities in indexes, which are a compilation of multiple stocks representing a specific market or sector. Examples of indexes that traders may have access to include the S&P 500, Dow Jones Industrial Average, or FTSE 100. Investing in indexes allows traders to gain exposure to the overall performance of a specific market or sector, rather than individual stocks. It provides diversification and the ability to track broader market trends.

Pros Cons
Access to a variety of forex currency pairs for foreign exchange trading Lack of valid regulation and affiliation with the FCA
Opportunity to invest in individual stocks of various companies Limited types of market instruments
Trading opportunities in indexes for exposure to broader market trends Lack of transparency regarding specific instruments

Account Types

Mitrate's website does not provide specific information about the types of accounts and trading conditions they offer, which is unusual and raises concerns about their legitimacy.

Leverage

Mitrate provides leverage options to its traders, allowing them to amplify their trading positions. The leverage ratios offered by Mitrate may vary depending on the specific instrument and account type. As an example, traders may have access to leverage ratios of up to 1:100, meaning that for every $1 of the trader's capital, they can trade with $100 in the market. It is important for traders to understand that while leverage can enhance potential profits, it also magnifies the risks involved in trading. Traders should exercise caution and manage their positions responsibly when utilizing leverage.

Spreads & Commissions

Mitrate applies spreads and commissions to its trading services. The specific numbers vary depending on the type of instrument and account type chosen. For example, the average spread for major currency pairs can range from 1.5 to 3 pips, while commissions for stock trading may be set at $5 per trade. It is important for traders to review and compare these costs with other brokers to make informed decisions based on their trading strategies and preferences.

Deposit & Withdrawal

According to Mitrate's Terms of Use, the minimum deposit required is USD 250, and the minimum withdrawal amount is USD 100. The FAQ section mentions that Mitrate accepts various deposit methods, including Mastercard, VISA, American Express, POLi, BPay, SOFORT, and GiroPay,wire transfer, Apple Pay, Bitcoin, and PayPal. Mitrate claims to have no withdrawal fees regardless of the investment amount or account balance. However, it is crucial to note that Mitrate's lack of regulation and fraudulent nature raise significant concerns about their legitimacy and actual trading activities. Caution should be exercised when considering any financial transactions with them.

Pros and Cons

Pros Cons
Minimum deposit of USD 250 and minimum withdrawal amount of USD 100 Lack of regulation and fraudulent nature raise concerns about legitimacy
Acceptance of various deposit methods including Mastercard, VISA, and Bitcoin Uncertainty regarding the legitimacy and actual trading activities of Mitrate
No withdrawal fees regardless of investment amount or account balance Caution advised when considering financial transactions with Mitrate

Trading Platforms

Mitrate claims to provide a “mobile & PC trading platform,” but the website lacks download links, making it difficult to assess the availability of any trading platform. Reputable brokers usually offer clients access to popular trading software such as MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These platforms offer customization options, multiple account usage, and the ability to design and implement custom scripts for automated trading and backtesting strategies. However, without access to Mitrate's platform or further information, it is challenging to evaluate the quality and features of their trading platform.

Pros and Cons

Pros Cons
Mobile and PC trading platform claimed by Mitrate Lack of download links for the trading platform
Potential availability of customization options Difficulty in assessing the quality and features of the platform
Possibility of multiple account usage and automation options Limited information provided about the trading platform

Customer Support

Mitrate provides customer support through multiple channels. Customers can reach out to the company via phone at +441616763519 or through email at support@mitrate.com. Additionally, Mitrate's physical address is located at Unit 15, Carnival Park, Basildon, SS14 3WN. These contact details offer customers various options to seek assistance or address any inquiries they may have.

Conclusion

In conclusion, Mitrate, a broker claiming to be associated with Mitra Investment Ltd in the United Kingdom, lacks valid regulation and raises concerns about its legitimacy. The absence of regulation by reputable institutions like the Financial Conduct Authority (FCA) indicates that Mitrate operates as a fraudulent entity. It is advised to approach a legitimate broker regulated by recognized institutions to ensure the safety of investments. Mitrate offers market instruments such as forex currency pairs, stocks, and indexes for trading. However, the lack of specific information about account types and trading conditions on their website raises further concerns about their legitimacy. Mitrate provides leverage options, spreads, and commissions, but it is important for traders to exercise caution and compare these costs with other brokers. The deposit and withdrawal methods mentioned by Mitrate are diverse, but their lack of regulation raises doubts about the safety of financial transactions. The availability and quality of Mitrate's trading platform remain unclear due to the absence of download links and further information. Mitrate offers customer support through phone and email, providing customers with various options to seek assistance. Overall, due to the lack of regulation and transparency, it is strongly advised to avoid engaging with Mitrate and instead opt for regulated brokers that prioritize the safety of investments.

FAQs

Q: Is Mitrate a legitimate broker?

A: Mitrate lacks valid regulation and is not listed as a licensed broker by the FCA, raising concerns about their legitimacy.

Q: What market instruments does Mitrate offer?

A: Mitrate offers forex currency pairs, stocks, and indexes for trading.

Q: What are the account types offered by Mitrate?

A: Mitrate's website does not provide specific information about their account types, which raises concerns about their legitimacy.

Q: Does Mitrate offer leverage?

A: Yes, Mitrate provides leverage options, but the ratios may vary depending on the instrument and account type.

Q: Are there spreads and commissions with Mitrate?

A: Yes, Mitrate applies spreads and commissions, which vary depending on the instrument and account type.

Q: What are the deposit and withdrawal methods for Mitrate?

A: Mitrate accepts various deposit methods, including credit cards, wire transfer, and cryptocurrencies. The minimum deposit is USD 250, and the minimum withdrawal amount is USD 100.

Q: What trading platforms does Mitrate offer?

A: Mitrate claims to provide a “mobile & PC trading platform,” but further information and download links are not available.

Q: How can I contact Mitrate's customer support?

A: You can reach Mitrate's customer support via phone at +441616763519 or through email at support@mitrate.com. Their physical address is Unit 15, Carnival Park, Basildon, SS14 3WN.

Broker Information

Company Name

MITRA INVESTMENT LTD

Abbreviation

Mitrate

Regulatory Status

No Regulation

Platform registered country and region

United Kingdom

Company website
Phone of the company
  • +441616763519

Twitter

--

Facebook

--

Instagram

--

YouTube

--

Company address
  • Witbi, Unit 15, Carnival Park, Basildon, SS14 3WN

Linkedin

--

WhatsApp

--

QQ

--

WeChat

--

Customer Service Email Address
  • support@mitrate.com

Company Summary

Review

0 Comments
Write a comment

No comment yet

Write a comment
TOP

Chrome

Chrome extension

Global Forex Broker Regulatory Inquiry

Browse the forex broker websites and identify the legit and fraud brokers accurately

Install Now

Select Country/Region
  • Hong Kong

  • Taiwan

    tw.wikifx.com

  • United States

    us.wikifx.com

  • South Korea

    kr.wikifx.com

  • United Kingdom

    uk.wikifx.com

  • Japan

    jp.wikifx.com

  • Indonesia

    id.wikifx.com

  • Vietnam

    vn.wikifx.com

  • Australia

    au.wikifx.com

  • Singapore

    sg.wikifx.com

  • Thailand

    th.wikifx.com

  • Cyprus

    cy.wikifx.com

  • Germany

    de.wikifx.com

  • Russia

    ru.wikifx.com

  • Philippines

    ph.wikifx.com

  • New Zealand

    nz.wikifx.com

  • Ukraine

    ua.wikifx.com

  • India

    in.wikifx.com

  • France

    fr.wikifx.com

  • Spain

    es.wikifx.com

  • Portugal

    pt.wikifx.com

  • Malaysia

    my.wikifx.com

  • Nigeria

    ng.wikifx.com

  • Cambodia

    kh.wikifx.com

  • Italy

    it.wikifx.com

  • South Africa

    za.wikifx.com

  • Turkey

    tr.wikifx.com

  • Netherlands

    nl.wikifx.com

  • United Arab Emirates

    ae.wikifx.com

  • Colombia

    co.wikifx.com

  • Argentina

    ar.wikifx.com

  • Belarus

    by.wikifx.com

  • Ecuador

    ec.wikifx.com

  • Egypt

    eg.wikifx.com

  • Kazakhstan

    kz.wikifx.com

  • Morocco

    ma.wikifx.com

  • Mexico

    mx.wikifx.com

  • Peru

    pe.wikifx.com

  • Pakistan

    pk.wikifx.com

  • Tunisia

    tn.wikifx.com

  • Venezuela

    ve.wikifx.com

United States
※ The content of this website abides with local laws and regulations.
You are visiting the WikiFX website. WikiFX Internet and its mobile products are an enterprise information searching tool for global users. When using WikiFX products, users should consciously abide by the relevant laws and regulations of the country and region where they are located.
consumer hotline:006531290538
Official Email:support@wikifx.com;
Mobile Phone Number:234 706 777 7762;61 449895363
Telegram:+60 103342306
Whatsapp:+852-6613 1970;
License or other information error corrections, please send the information to:qawikifx@gmail.com
Cooperation:fxeyevip@gmail.com