If you are using ASIO hardware then you can choose the "Monitor channel" which will allow you to hear what you are recording through your headphones. However, a better approach to monitoring your recording is to use your hardware directly. Most external soundcards will allow you to directly monitor your input via a headphone output. This option will provide you with the best performance and zero latency."
To use Monitor channel in Mixpad, you will need to:
1 Use an ASIO device.
2 Setup the Monitor channels as shown in the image.
3 Enable the headphone button as shown in the image.
Than you will hear the same sound from the Recording device.