Do you want to know which is the better broker between GSI and MiTRADE ?
In the table below, you can compare the features of GSI , MiTRADE side by side to determine the best fit for your needs.
You can determine the reliability and credibility of a broker by checking four factors:
1.Forex broker introduction。
2.Are the transaction costs and expenses of gsi-markets, mitrade lower?
3.Which broker is safer?
4.Which broker provides better trading platform?
Based on these four factors, we can compare which is reliable. We have broken down the reasons as follows:
General Information& Regulation
GSI Markets is an online trading broker owned by Media Force Limited and located at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands, MH 96960. The firm is incorporated under registration number 19085 by the Registrar of Business Enterprises Marshall Islands Internationals.
GSI Markets offers investors a range of financial instruments including over 50 forex currency pairs, indices, CFDs and commodities.
Accounts & Leverage
GSI Markets offers customers four account types: Silver ECN Account, Gold ECN Account, Platinum ECN Account and Islamic Account. The maximum leverage is 1:100.
Spreads & Commissions
For ECN Accounts, the average spread for EURGBP is 1.4 pips, EURJPY 1.8 pips, EURUSD 0.7 pips, GBPJPY 2.9 pips, GBPUSD 1.4 pips, USDJPY 0.8 pips. The commission for Silver ECN is 200$ per 1M Half Turn, Gold ECN 80$ per 1M Half Turn, and Platinum ECN 50$ per 1M Half Turn.
GSI Markets uses MetaTrader 4 (MT4), WebTrader and Sirix as its trading platforms. The GSI Markets MT4 is available in desktop-client, mobile app, and web version. Sirix complements MT4 and is an equally useful trading platform, especially for traders who are into social trading.
Deposit & Withdrawal
The payment methods include wire/bank transfer, VISA, Mastercard, Skrill, AstroPay, online bank transfer and credit/debit cards. The minimum deposit and withdrawal limit is USD/EUR/GBP 250 across all payment methods. The maximum amount you can deposit using cards is USD 10,000 while bank transfers have no deposit limit. All withdrawals are subjected to a maximum withdrawal limit of USD 200 except for bank wire which has no limit. In case of excess amounts, the funds will be credited to your bank account through a bank transfer.
GSI Markets does no accept US traders.
GSI Markets offers its customers 24/7 customer support as well as a multi-lingual live chat facility.
Research & Education
GSI Markets brokerage offers a selected group of lessons open to traders in the education center section. These lessons are free of charge. It also has additional sets of tools that will make trading easier. These include an economic calendar, calculator, and a Bitcoin buy/sell meter that acts as a signal provider.
Forex currency trading is a high-risk activity and is not suitable for everyone. By trading with Gsimarkets.com or any other broker, you put yourself at risk of heavy losses. Prior to getting started in any kind of trading, it is important for you to consider your personal circumstances, your attitude to risk, your existing experience and your long-term goals.
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
General Information & Regulation
|Market Instrument||Forex, Commodities, Major Indices, Shares|
|Spread (EURUSD)||From 1 pip|
|Trading Platform||WebTrader and Mitrade Mobile App|
|Deposit & Withdrawal Method||Visa/MasterCard, Online Banking, e-Wallets, ATM Cards, QR Code Payments, and Bank Transfers|
MiTRADE is a brand jointly used by multiple companies and it operates through the following companies: Mitrade Holding Ltd is the issuer of the financial products that are described or available on this website. Mitrade Holding is authorized and regulated by the Cayman Islands Monetary Authority (CIMA) and the SIB licence number is 1612446. Mitrade Global Pty Ltd's licence number is ABN 90 149 011 361 and it holds an Australian Financial Services Licence (AFSL 398528).
Here is the home page of this brokers official site:
Note: The screenshot date is February 1, 2023. WikiFX gives dynamic scores, which will update in real-time based on the broker's dynamics. So the scores taken at the current time do not represent past and future scores.
Investors can trade 400+ financial markets through the MiTRADE platform, including Forex, Commodities, Major Indices, Shares and more.
When it comes to the initial deposit for starting an account, there is no minimum amount for any deposits into a MiTRADE account, which is good news as most brokers ask for an initial deposit of around 100 USD.
MiTRADE offers trading leverage as high as 1:200. Inexperienced traders are advised to stay away from high leverage, as it can magnify returns but also risks.
Spreads & Commissions
MiTRADE offers floating spreads. The spread on EURUSD starts from 1 pip, spread on EURGBP from 1.4 pips, spread on UKOIL and USOIL around 0.06 pips, spread on XAUUSD from 0.44 pips, and XAGUSD spread from 0.3 pips. All charging no commissions.
MiTRADE offers traders WebTrader and Mitrade Mobile App instead of the MT4/MT5 trading platform. The Mitrade trading platform was created by traders and features a clear, intuitive, and easy-to-use interface, as well as numerous powerful technical indicators.
Deposit & Withdrawal
Traders can fund MiTRADE via Visa/MasterCard, Online Banking, e-Wallets (Skrill, Momo, Zalo, Touch'n GO and Boost etc.), ATM Cards, QR Code Payments, and Bank Transfers. Online Banking deposits can be processed within 1 business day, while other deposits are generally instant. Please note that some deposit methods are only available in selected countries/regions.
MiTRADE accepts withdrawals with Bank Cards (3-5 business days) and Bank Accounts (within 3 business days). Please note that the processing time could vary among individual banks.
MiTRADE offers 24/5 customer support service with a team of dedicated professionals. They can be reached via email: email@example.com. You can also fill out the ‘contact us’ form on the brokers website, and a customer support specialist will attend to you as soon as possible. Mitrade is also available on social media: Instagram, Facebook, Twitter, YouTube and LinkedIn.
Traders can also visit the team at their offices:
• Mitrade Holding Ltd: 215-245 N Church Street, 2nd Floor, White Hall House, George Town, Grand Cayman, Cayman Islands;
• Mitrade Global Pty Ltd: Level 13, 350 Queen Street, Melbourne, VIC 3000, Australia;
• Mitrade International LtdSuite 707 & 708, 7th Floor, St James Court, St Dennis Street, Port Louis, Mauritius.
Pros & Cons
|• ASIC-regulated||• Regional restrictions|
|• Demo account sign-up fully digital||• Only one live account type offered|
|• Commission-free trading environment||• No Islamic account offered|
|• Additional research and educational tools||• Non-MT4&MT5 broker|
|• Multiple funding options|
Frequently Asked Questions (FAQs)
|Q 1:||Is MiTRADE regulated？|
|A 1:||Yes. MiTRADE is regulated by the ASIC under regulatory license number 398528.|
|Q 2:||At MiTRADE, are there any regional restrictions for traders？|
|A 2:||Yes. The information on MiTRADEs site is not intended for residents of the United States, Canada, Japan, New Zealand or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.|
|Q 3:||Which live trading accounts does MiTRADE offer？|
|A 3:||MiTRADE offers only one live account to choose from.|
|Q 4:||Are there any fees for using the trading platform？|
|A 4:||MiTRADE is a commission-free trading platform. The main cost of trading comes from the low spreads it charges, which vary among different markets.|
|Q 5:||Is MiTRADE a good broker for beginners？|
|A 5:||Yes. MiTRADE is a good choice for beginners because it is regulated well and offers various trading instruments with competitive trading conditions. Also, it offers demo accounts that allow traders to practice trading without risking any real money.|
To compare transaction costs across different brokers, our experts analyze the transaction-specific fees (such as spreads) and non-trading fees (such as inactivity fees and payment costs).
To get a comprehensive understanding of how cheap or expensive gsi-markets and mitrade are, we first considered common fees for standard accounts. On gsi-markets, the average spread for the EUR/USD currency pair is -- pips, while on mitrade the spread is --.
To determine the safety of our top brokers, our experts will consider many factors. This includes which licenses the broker holds and the credibility of these licenses. We also consider the history of brokers, because long-term brokers are usually more reliable and trustworthy than new brokers.
gsi-markets is regulated by --. mitrade is regulated by ASIC.
When our experts review brokers, they will open their own accounts and trade through the broker's trading platform. This enables them to comprehensively evaluate the quality, ease of use, and function of the platform.
gsi-markets provides trading platform including ISLAMIC ACCOUNT,PLATINUM ECN ACCOUNT,GOLD ECN ACCOUNT,SILVER ECN ACCOUNT and trading variety including --. mitrade provides trading platform including -- and trading variety including --.