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Mitrade in South Africa — review, licence and costs
Score (6 of 6 axes scored)
ranked against full-basis brokers
- Reviews25%85
- Round-turn cost20%82.5
- Safety20%100
- Payouts15%80
- Track record10%75
- Platforms10%0
Numbered by weight: axis 1 counts for most.
Key facts (6 facts)
- Onboarding entity
- Mitrade Markets Pty Ltd
- Founded
- 2011
- Retail leverage
- 200ZA
- Round turn
- 8.5 USDZA
- Currencies
- USD, AUD, EUR; no ZAR account verified.
- Swap-free account
- no
Licence check
Open an account with MitradeThe broker's own website. Not a partner link — we earn nothing from it.
Who actually onboards you
- Entity that onboards South Africa residents
- Mitrade Markets Pty Ltd
- Local standing
- Locally FSCA-regulated; this licence anchors Mitrade's push into MENA and LATAM emerging markets.
- Licence as the register states it
- FSCA (South Africa) FSP 54842; locally regulated.
- Leverage for this entity
- Up to 1:200 on FX (offshore-style limits apply).
- The firm behind it
- CFD broker founded 2011; proprietary platform; FSCA licence added 2025 via Fridah/Frida Asset Managers acquisition.
- What we hold against it
- Trustpilot ~4.7/5 (~2500 reviews) but withdrawal-delay and account-liquidation complaints reported.
Leverage by entity
The licence belongs to the firm; a leverage figure belongs to one entity. Only the entity that onboards South African residents enters the score.
Scale from 1:10 to 1:3000, logarithmic.
Client protection
- Local entity onboards youLocally FSCA-regulated; this licence anchors Mitrade's push into MENA and LATAM emerging markets.
- Regulator warning on filenone found
— means the broker does not state it in any source we captured. It is not read as “no protection” and it is not scored.
Price against South Africa market median(priced from 80 of 103)
Medians run over the 80 of 103 brokers that publish a price for South Africa, never over the whole base. A spread without its commission is not a price and is not counted.
Accounts
Account types the broker names for this country: Standard, min ~USD 20-50. The figures below are the broker's own and do not differ by account in any source we captured.
Swap-free account terms
Terms read from the account page on 01.10.2026. The cap on open positions is not published.
Where Mitrade sits in the South Africa base(103 brokers)
Round-turn cost, USD (80 of 103 priced)
Median 7 USD · range 1-20 · this broker 8.5 USD · 23 of 103 brokers do not publish it
Minimum deposit, USD (49 of 103 priced)
Median 50 USD · range 0-1000 · this broker 20 USD · 54 of 103 brokers do not publish it
Retail leverage (72 of 103 with a South Africa figure)
Median 1:500 · range 20-5000 · this broker 1:200 · 31 of 103 brokers do not publish it
Withdrawal time published (103 brokers)
Payouts
Identical for every row: Deposit, h 24 · Fee, USD 0 · Min, USD 50.
Deposit and withdrawal methods (4 methods · 0 local rails)
Cards, bank transfer, Skrill, Neteller;
- Cards
- Bank transfer
- Skrill
- Neteller
- Account currency
- USD, AUD, EUR; no ZAR account verified.
- Fee declared
- 4 of 4 methods
- Withdrawal back to
- the funding method
Where it does not serve(4 countries)
From the client agreement, clause 2.3. A country missing from a translated page is not read as “served”.
Platforms and markets(2 platforms)
- Proprietary Mitrade app/web
| Class | Count | Min spread | Leverage |
|---|---|---|---|
| Proprietary Mitrade app/web | — | 0.85 | 200ZA |
| All instruments | 400 | — | 200ZA |
184 further account types are named by their brokers but publish none of these figures, so they are not in the comparison: IC Markets Raw Spread MT4/MT5, IC Markets Raw Spread cTrader, Eightcap Standard, Eightcap Raw, Fusion Markets Classic account, Pepperstone Standard and 178 more.
Reviews(1 platform · 25% of the score)
| Snapshot | Rating | Reviews |
|---|---|---|
| 02.10.2026 | 4.7 | 644 |
Share of reviewers in South Africa: — The platform does not publish it.
Pros and cons(4 for and 3 against, each tied to a figure on this page)
- Authorised by the South Africa regulator in its own register
- Min deposit 20 USD, under the South Africa median 50
- Withdrawal in 24 h, one of 86 of 103 brokers here that publish a time
- Safety 100 of 100, its strongest of 6 scored axes
- Round turn 8.5 USD on the standard basis, over the South Africa median 7
- The published 1:200 comes from the group's offshore entity, not from the South Africa one
- Platforms 0 of 100, its weakest of 6 scored axes
Alternatives in South Africa(6 of 103 scored in South Africa)
- Round turn, USD
- 9ZA
- Min deposit, USD
- 25ZA
- Leverage
- 1000ZA
- Rank in this country
- #1
- Round turn, USD
- 8ZA
- Min deposit, USD
- 10ZA
- Leverage
- 30ZA
- Rank in this country
- #33
- Round turn, USD
- 7ZA
- Min deposit, USD
- 4ZA
- Leverage
- 400ZA
- Rank in this country
- #11
- Round turn, USD
- 9ZA
- Min deposit, USD
- 10 groupZA
- Leverage
- 1000 group
- Rank in this country
- #27
- Round turn, USD
- 9ZA
- Min deposit, USD
- 100ZA
- Leverage
- 1000ZA
- Rank in this country
- #35
- Round turn, USD
- 6ZA
- Min deposit, USD
- 0ZA
- Leverage
- 500ZA
- Rank in this country
- #34
"group" marks a figure the broker publishes for the group rather than for this country. It is shown because the broker states it, and it is not ranked, averaged or used to sort.
Methodology(6 axes · formula v1.0)
Score = 2 + 3 × weighted mean of six axes scored 0–100. Range 2.0–5.0. An axis without data drops out and the remaining weights are renormalised; it is never scored zero or estimated. Group-wide figures never enter a South Africa score. Full methodology
| Axis | Weight | What is measured | Mitrade |
|---|---|---|---|
| Reviews | 25% | Rating, volume and recency on one public review platform | 85 |
| Round-turn cost | 20% | Round turn on 1 lot EURUSD: spread plus commission, against the country median | 82 |
| Safety | 20% | Local authorisation, the entity that onboards you, any regulator warning | 100 |
| Payouts | 15% | Published withdrawal time, fees and the methods available in the country | 80 |
| Track record | 10% | Years since the firm was founded, from its own filings | 75 |
| Platforms | 10% | Which trading platforms the broker confirms for this country | 0 |
FAQ
- Does Mitrade accept residents of South Africa?
- Yes. Locally FSCA-regulated; this licence anchors Mitrade's push into MENA and LATAM emerging markets. Onboarding entity: Mitrade Markets Pty Ltd
- Is Mitrade licensed to serve clients in South Africa?
- FSCA (South Africa) FSP 54842; locally regulated. Checked on 09.07.2026.
- How much does one round turn cost at Mitrade?
- About 8.5 USD per standard lot on EUR/USD. The median across brokers measured for South Africa is 7.0 USD.
- What leverage does Mitrade offer to retail clients in South Africa?
- Up to 1:200. leverageGeo: Up to 1:200 on FX (offshore-style limits apply).
- Which trading platforms does Mitrade support?
- Proprietary Mitrade app/web. Instruments: 400+ CFDs: ~59 FX pairs, indices, commodities, shares, ETFs, crypto.
- How can I withdraw money from Mitrade in South Africa?
- Cards, bank transfer, Skrill, Neteller; local ZAR rails not confirmed.
- What account types does Mitrade offer?
- Standard; min ~USD 20-50.
- Does Mitrade offer a swap-free (Islamic) account?
- No. Mitrade publishes no swap-free (Islamic) account for South Africa.
Taxes for a South African resident(1 rule)
- SARS taxes residents on worldwide income.https://fxnewsgroup.com
Not tax advice. Check with SARS.