More about Mitto
Tim Sunderland, a former stockbroker, created the corporation in the year 2020. Mitto Markets provides a diverse set of tools, ranging from forex to mutual funds, using a variety of trading platforms, including MetaTrader 4 and Trader Workstation. The broker also boasts great customer service and inexpensive interbank price execution costs.
MT4 is a comprehensive trading platform that includes interactive charting capabilities for advanced technical analysis of currency and commodity pairs.
Both new and experienced traders will find the site simple to use. Market and pending orders, as well as immediate execution and chart trading, can be used to implement a variety of strategies. Traders can also access a library of trading robots, as well as comprehensive trade history and financial news, to apply algorithmic techniques. New traders must first create an account before downloading and using the platform.
Trader’s Workstation (TWS)
TWS is a multi-asset trading platform that you can download and use to trade stocks, forex, CFDs, funds, futures, and options. The platform provides a complex workspace with real-time account balance and margin data, in-depth news, and specialized tools like SpreadTrader and OptionTrader. Mosaic’s multi-window view has outstanding optimization options that may be tweaked and tailored to meet the needs of expert traders.
Clients have access to over 135 equities from 33 different countries. Over 75 currency and commodity pairs, as well as a variety of CFDs, over 30,000 mutual funds, futures, and options, are all available. Cryptocurrency and bitcoin trading are the only big omissions.
Spreads and commissions
On a regular MT4 account, spreads begin at 1.3 pips. Traders on an ECN account get raw spreads starting at 0.0 pips. The standard account is free of charge; however, the ECN account has a $3 per lot per side fee.
TWS traders must pay a minimum trading charge, which ranges from £3 to £5 depending on the asset class. The funding fee is roughly 1.59 percent, which is lower than many other brokers’ fees, which are often over 5%.
An Overview of Leverage
Leverage is available up to a maximum of 1:30 for key currency pairs. All other commodities can be leveraged up to 1:10, whereas minor currency pairs, indices, and gold can be leveraged up to 1:20. Professional clients have the option of requesting leverage of up to one hundred to one.
The MT4 trading platform is available on iPhone and Android mobile devices, and it provides distant traders with maximum simplicity of use and comfort. The app has many of the same features as the desktop version, such as historical data, financial news, and a variety of indicators and sketching tools. The program is quite popular with traders of all levels, and it has received a lot of positive feedback online.
A Handy Trader app is also available, which provides access to different assets, real-time market data, charting, and order management. The software employs routing technology that searches for the cheapest available price and can reroute orders for the best possible execution.
Currently, the broker accepts funding via credit/debit card or bank transfer. This is fairly limited in comparison to other brokers, so we hope the company expands its offerings in the future.
There is also a lack of transparency when it comes to funding costs and processing timeframes, which is unfortunate because many traders rely on this information when deciding whether or not to open an account.
Demo account overview
On a basic or ECN account, the business offers an MT4 demo. Demo accounts are an excellent way to hone your trading skills before putting real money on the line. Traders can also use an unlimited number of expert advisors and trade in real-time with up to 1:30 leverage.
The UK Financial Conduct Authority (FCA) has authorized and regulated Kapwealth Limited under FRN 590782. Client funds are held by a third-party custodian, not by the broker. The Financial Services Compensation Scheme (FSCS), which guarantees up to £85,000 per claim, also covers the accounts.
The fact that the broker is regulated by the FCA is a solid sign that it is not a fraud.
You can pick between a normal account and an ECN account for MT4 traders. Spreads start at 1.3 pips, and there are no commissions with the standard. Experienced traders will benefit from an ECN account, which offers raw spreads and commissions of $3 a lot per side. Both accounts have no minimum deposit restrictions, and the minimum trade size is 0.01 lots.
Stock trading is also offered on ISA and SIPP accounts, and a portfolio management service is also available.
Improvements can be made in the following areas:
- Limited funding methods
- US customers are not allowed.
- No crypto trading.
- There is no FAQ page.
From Monday to Friday, trading sessions on MT4 run from 00:02 to 23:54 GMT+2. Business hours for precious metals are 01:00 to 23:55 GMT+2, Monday through Friday. UK oil is available from 03:00 to 24:00 GMT+2, whereas US oil is available from 01:00 to 24:00 GMT+2. The trading platforms will provide all other assets, which will differ.