Score

1.42 /10
Danger

Mitrate

United Kingdom

2-5 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

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Comparison

Expose

Exposure

Time Machine
Website

Score

Regulatory Index0.00

Business Index6.33

Risk Management Index0.00

Software Index4.00

License Index0.00

Time Machine
Website

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

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Warning: Low score, please stay away!
Previous Detection : 2024-12-26
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

WikiFX Verification

Mitrate · Company summary

Note: Mitrate's official website: xx is currently inaccessible normally.

Mitrate Information

Mitrate is an unregulated brokerage company registered in the United Kingdom, while the broker's website has been closed, so traders cannot obtain more security information.

Is Mitrate Legit?

Mitrate is not regulated, which will increase trading non-compliance and reduce traders investment security. Caution is advised when dealing with Mitrate.

Is Mitrate Legit?
Is Mitrate Legit?

Downsides of Mitrate

  • Unavailable Website

Mitrate's official website is currently inaccessible, raising concerns about its reliability and accessibility.

  • Lack of Transparency

Since Mitrate does not explain more transaction information, especially regarding fees and services, this will bring huge risks and reduce transaction security.

  • Regulatory Concerns

Mitrate is not regulated, which is less safe than a regulated one.

Conclusion

Mitrate Since the official website cannot be opened, traders cannot get more information about security services. In addition, the unregulated status indicates that this brokers trading risks are high. It is advisable to choose regulated brokers with transparent operationsto ensure the safety of your investments and compliance with legal standards. Traders can learn more about other brokers through WikiFX. Information improves transaction security.

User Reviews

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User comment

2

Comments

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Harrison Rodriguez
more than one year
The hiccup occurred when I decided to make my first withdrawal. Remembering their enticing promise of no withdrawal fees, I was looking forward to reaping the full benefits of my successful trades. Therefore, it was quite a shock when I was asked to pay an extra fee for the transaction. Feeling confused, I reached out to their support team seeking explanation for this unexpected charge. Disappointingly, their response was vague and evasive. They cited unspecified 'external processing' fees that seemingly negated the promise of zero withdrawal fees. Unfortunately, this unexpected fee wasn't a one-time ordeal; it became a recurring theme with every withdrawal, each time chipping away a slice of my hard-earned profits.
The hiccup occurred when I decided to make my first withdrawal. Remembering their enticing promise of no withdrawal fees, I was looking forward to reaping the full benefits of my successful trades. Therefore, it was quite a shock when I was asked to pay an extra fee for the transaction. Feeling confused, I reached out to their support team seeking explanation for this unexpected charge. Disappointingly, their response was vague and evasive. They cited unspecified 'external processing' fees that seemingly negated the promise of zero withdrawal fees. Unfortunately, this unexpected fee wasn't a one-time ordeal; it became a recurring theme with every withdrawal, each time chipping away a slice of my hard-earned profits.
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2023-10-13 11:26
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Leo Perry
more than one year
While trading the EUR/USD currency pair, which usually carries a spread of 1-2 pips with most brokers, the spreads with Mitrate often hovered around a massive 5 pips. Mitrate's slow customer support services also let me down too. I remember a particular instance when a withdrawal of mine was getting unnecessarily delayed. I reached out to support, expecting a swift resolution, but my email was met with an unnerving silence for a few days. When I finally received a response, it barely addressed my concern and was more evasive than clarifying. Time, as they say in the trading world, is money. But in Mitrate's case, both seemed to be draining away without offering much in return.
While trading the EUR/USD currency pair, which usually carries a spread of 1-2 pips with most brokers, the spreads with Mitrate often hovered around a massive 5 pips. Mitrate's slow customer support services also let me down too. I remember a particular instance when a withdrawal of mine was getting unnecessarily delayed. I reached out to support, expecting a swift resolution, but my email was met with an unnerving silence for a few days. When I finally received a response, it barely addressed my concern and was more evasive than clarifying. Time, as they say in the trading world, is money. But in Mitrate's case, both seemed to be draining away without offering much in return.
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2023-10-12 10:53
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