When people wonder is Mitrade safe, they’re usually not just thinking about how flashy the app is. What they really want to know is: can I trust this platform with my money, and will it treat me fairly?
In the world of online trading, especially CFDs, “safe” isn’t only about regulation; it’s about how things work when markets swing, how the company protects users, and whether real traders feel they can rely on it.
Is Mitrade Safe in India?
Now, the answer lies in the question: what Mitrade offers?
Well, it is the platform that allows you to trade in forex, gold, commodities, etc.
Wait, what Forex?
But is forex trading legal in India?
No..
So, how can a platform operating illegally in India be safe?
Now, to trap users, Mitrade says that it keeps client funds separate from the company’s own money. This is called segregated accounts, and it’s a good safety measure because it means your money is not mixed with the broker’s operational funds.
However, Mitrade also mentions counterparty risk in its documents.
This means:
- When you trade CFDs on Mitrade, the broker itself is the counterparty to your trade, not an external market.
- In other words, you are trading against the broker.
So, can you trust a platform that is trading in a position against yours?
If something goes wrong with the broker, financial trouble, mismanagement, or technical failure, your trades and your money could be affected.
Hence, it is important to understand that,
- If the broker faces instability,
- Or if the company shuts down,
- Or if there’s any internal issue,
Your money may still be exposed, even if it is kept in a segregated account.
Mitrade Complaints
Now, to check whether the platform is safe or not, we first checked reviews on the Play Store!
Since the Mitrade is app is available worldwide hence we found multiple reviews across the globe.
Now, on one side where many users are complaining about the complex UI, there is another user who mentioned the deposit issue.
Just imagine the level of frustration, where on depositing the fund, the amount gets debited from the bank account but in actual not reflected in your trading account.
Even worse, when you are not able to get any support from the platform as well.
Here is another one,
This indicates that there is not only the deposit issue, but withdrawal too.
In all, the app works like a scam platform and is riskier than one might think.
These are just users’ reviews.
There are some serious signs and allegations on the platform, too. According to Intelligence Line, a number of clients claim they had trouble withdrawing funds, saw unexplained account liquidations, or felt misled by terms.
How to Report Mitrade in India?
First things first, maybe issues like withdrawal and deposit could be easily resolved in a nation where forex trading is allowed, but if you are trading on the platform in India, then you are definitely taking a big risk.
Wondering how?
By trading on the platform and assets, which is illegal in India.
So, if you face any of the above issues, remember, you cannot report to any regulatory bodies in India.
The only way to raise the issue is to file a cyber crime complaint.
Need Help?
Even though recovery chances in forex trading scams are quite low, but not impossible.
So, if your amount is stuck in Mitrade or any similar platform, register with us now!
We will guide you with the process to report the fraud with proper documentation & drafting that might help you in getting a recovery.
Conclusion
So, is Mitrade safe for Indian users? The honest answer is NO, it’s not.
Even though the platform may appear legitimate and has positive reviews in some places, the ongoing complaints about deposit delays, withdrawal issues, and blocked accounts are serious concerns, especially for traders in India.
And this isn’t just about Mitrade. Any forex platform promising quick profits, guaranteed returns, or “easy money” should be approached with extreme caution.
Forex trading complaints are rising as these platforms often operate outside Indian regulations and can be far riskier than they appear.
If you’re in India, the safest option is avoid using banned forex trading apps in India and always to choose SEBI-regulated platforms where your money and legal rights are protected.
Trading on unregulated forex apps may look tempting, but the risk is far greater than the reward, and it’s simply not worth it.
