Mitrade Review Australia 2026

Mitrade quick facts

Trading costs and fees

Spreads on AUD/USD and majors

Spread-only and commission-free, Mitrade charges purely through the spread. Our May to June 2026 standard-account capture measured it at 0.40 pips on EUR/USD and 0.96 across the eight pairs, third of the 21 standard accounts we benchmarked. The official EUR/USD minimum matches that 0.4 pip mark, wider than every RAW commission account on the market.

How Mitrade compares on total cost

The cleanest way to compare a no-commission broker like Mitrade against a RAW broker like Pepperstone or IC Markets is to convert both to a total-cost-in-pips equivalent on EUR/USD.

Mitrade isn’t the cheapest, but the gap to the lowest-cost brokers is around 0.2 to 0.3 pips on these measured levels. A retail trader running a few hundred dollars in margin and trading once or twice a week pays a few dollars per month; an active scalper feels it more. On the standard-account league table Mitrade ranked third of 21 in our May to June 2026 capture; compare the full tested field in our lowest-spread broker rankings.

Other fees AU traders should check

• Overnight swap rates apply to CFD positions held past 5 PM New York. Direction-dependent.
• Inactivity fee: USD 10 per month (charged as the AUD equivalent on AUD accounts) after six months of no trading activity, and only where the account balance is under USD 100. Stops once a trade is placed.
• Currency conversion applies if you trade an instrument denominated in a currency other than your account base.
• Guaranteed stop-loss premium only charged if your GSLO triggers.
• Withdrawal fees: generally $0 on standard methods.

Trading platform

Mitrade WebTrader

The WebTrader is the entire Mitrade trading offering. There are no third-party platforms. That’s by design. Mitrade has built everything around a single proprietary stack, and the result is more polished than most in-house CFD platforms.

What you get:

• One-click trade entry with preset position sizes
• Smart price alerts and push notifications on mobile
• 12 chart types and 70+ technical indicators
• Built-in stop-loss, take-profit and guaranteed stop-loss order types
• Watchlists synced across web and mobile
• Economic calendar and integrated market news
• Risk management tools that show estimated margin and pip value before you click

What you don’t get:

• No expert advisors or automated trading
• No copy trading layer (eToro and ZuluTrade integrations are not offered)
• No level 2 depth-of-book pricing
• No standalone TradingView or Autochartist platform. TradingView charts are built into the Mitrade platform, and Mitrade Pro clients get Advanced TradingView Charting plus reimbursement of a TradingView annual plan
• No advanced order routing

Mobile apps (iOS and Android)

The mobile experience is where Mitrade earns its position in the AU market. Both iOS and Android apps support biometric login (Face ID, Touch ID, fingerprint), push price alerts and full account management including funding and withdrawal. We rated the Mitrade iOS app 8.5/10 in our 2026 mobile app comparison, behind eToro and Plus500 but ahead of most MT4/MT5-based broker apps. That mobile-first simplicity is why Mitrade holds the last of seven spots among the beginner forex brokers in Australia we rank.

Trust and safety

Trust score: 7/10.

ASIC regulation and global licences

Mitrade Global Pty Ltd holds AFSL 398528 with the Australian Securities and Investments Commission. This is the Tier 1 credential that matters for an Australian retail trader. The AFSL has been continuously held under the current Mitrade entity since around 2018. In June 2023 ASIC placed an interim DDO stop order on Mitrade over its retail client screening; ASIC revoked it on 26 July 2023 after Mitrade addressed the concerns.

The Mitrade group also operates under:

• Cayman Islands Monetary Authority (CIMA), Tier 3 offshore
• Mauritius Financial Services Commission (FSC), Tier 3 offshore

These offshore licences don’t apply to Australian retail clients.

Client money and negative balance protection

Mitrade holds retail client money in segregated accounts at an Approved Australian Bank, separate from the company’s own funds. ASIC requires negative balance protection on retail CFD accounts, so a retail account cannot lose more than the money in it. If a dispute with the broker goes wrong, AFCA can hear claims up to $1,263,000 and award compensation up to $631,500. The Compensation Scheme of Last Resort sits behind that with a $150,000 cap, but it excludes CFD trading losses, so it protects you against unpaid awards for misconduct, not against losing trades.

One carve-out is worth knowing before you look at the Pro tier. Negative balance protection is a retail protection, and Mitrade Pro clients give it up along with the ASIC leverage caps. For where Mitrade lands against the field on protection, see our list of the safest AU forex brokers ranked and our explainer on negative balance protection standards.

History and ownership

The Mitrade brand was established in 2011. The current Australian regulated entity has been operating under AFSL 398528 since around 2018. Mitrade is privately held.

Public reviews

Mitrade’s Trustpilot rating sits between 4.0 and 4.4 across 1,500+ reviews globally. Reviewers like the clean platform and fast deposits, and the live chat gets regular praise. The gripes: spreads aren’t the cheapest, withdrawal verification can slow down during high-volume periods, and there’s only the one platform.

What other review sites say

Mitrade's iOS app rates 4.43 out of 5 from 1,017 ratings on the Australian App Store (July 2026), listed as Mitrade: Invest Global Markets.

App Store AU

4.43

1,017 ratingsJuly 2026

Account types and minimum deposit

Account options for AU clients

Mitrade runs one retail account type, the Standard CFD account, and that is the structural con: no RAW or commission tier exists for active traders. The minimum deposit is A$100. The wholesale Mitrade Pro tier follows below.

There’s no separate RAW or commission account, and there’s no Active Trader rebate programme.

Minimum deposit

Mitrade’s minimum deposit is A$100. That is one of the lower minimums on the Australian market, and it is low enough that a first-time trader can fund an account and size a position without committing much capital. The free demo has no expiry if you want to test the app before you fund anything.

Mitrade Pro (wholesale clients)

Mitrade Pro is an Australia-only named account for traders who qualify under the Corporations Act tests as a Sophisticated Investor or Wholesale Client. Qualifying clients get substantially higher leverage: 200:1 on forex, gold, other commodities and indices, 10:1 on share CFDs and 100:1 on crypto CFDs.

The detail that matters most here is which entity delivers that leverage, and Mitrade’s answer is a good one: Mitrade Pro stays with Mitrade Global Pty Ltd under AFSL 398528, the same Australian entity that holds the retail account. Confirmed in July 2026. That is not how every broker does it. Where a 400:1 or 500:1 figure is delivered by an offshore arm of the same brand, the account leaves the AFSL entirely, and AFCA access and ASIC’s client-money rules go with it. Mitrade’s Pro clients stay onshore.

The trade-off is still real. Pro clients give up ASIC’s retail protections, including the retail leverage caps, the 50% margin close-out rule and retail negative balance protection. Pro perks include Advanced TradingView Charting and reimbursement of a TradingView annual plan.

Mitrade runs no swap-free (Islamic) account, confirmed with the desk in July 2026.

Funding and withdrawals

Deposit methods (AU clients)

Mitrade also accepts Apple Pay, Google Pay, Skrill and NETELLER for Australian clients. Apple Pay and Google Pay are a sensible fit for a broker this mobile-focused.

Withdrawals

Standard withdrawal methods are fee-free. Mitrade requires withdrawals to use the same source as the deposit where possible.

Account opening

Fully online and AUSTRAC-compliant. One ID document (driver’s licence or passport) plus one proof of address. Test onboarding score: 12/15.

Product range

Mitrade offers around 400 instruments. That’s narrower than CMC (12,000+), IG (18,000+) or even Pepperstone (1,200+), but it covers the categories most retail traders actually use. The CFD market categories here run to five classes:

Forex is the deepest part of the book at 50 plus pairs, and the AUD crosses an Australian trader wants are all there. On the index side you get the ASX 200 alongside the large global contracts. Commodities run to the standard retail set, with gold and silver on the metals side and WTI, Brent, natural gas and copper on the rest.

Share CFDs

Mitrade’s share CFDs cover selected US, AU, UK and HK names: the big tickers rather than full market coverage, consistent with the roughly 400 instrument total. There is no direct ASX investing; every equity position is a CFD. If holding real ASX shares matters to you, CMC Markets and Interactive Brokers cover it and Mitrade does not. For how the class works across the AU field, see our guide to trading US and ASX share CFDs.

Crypto CFDs

Crypto CFDs cover BTC, ETH, XRP, LTC, ADA and SOL at ASIC’s 2:1 retail cap. These are CFDs, not coins you own or can move to a wallet. Our guide to crypto CFD markets compared sets out how the AU field lines up on range and pricing.

Leverage for AU traders

Mitrade’s single retail account carries the ASIC caps, and the app surfaces them per instrument at order entry. Mitrade Pro is the wholesale route past them, covered in the account section above.

ASIC caps retail CFD leverage at 30:1 on major forex pairs, 20:1 on minor pairs, gold and major indices, 10:1 on commodities other than gold, 5:1 on share CFDs and 2:1 on crypto assets. The caps come from a product intervention order that ASIC has extended to 23 May 2027, so they apply at every ASIC broker, not just Mitrade. Mitrade offers higher leverage to wholesale clients who pass the eligibility tests: 200:1 on forex, gold, other commodities and indices, 10:1 on share CFDs and 100:1 on crypto CFDs. Retail margin close out sits at 50%, one of the protections Mitrade Pro clients give up.

If you are weighing that trade-off, read the leverage guide first, then our comparison of higher-leverage broker choices.

Customer service

Live chat and email, available 24 hours a day Monday to Friday. Phone support is more limited than CMC or Pepperstone. Average live chat response in our testing: under 90 seconds during AU business hours.

Languages: English and Chinese, with other Asia-Pacific languages available through Mitrade’s regional support teams.

Research and education

The research and education stack is light compared with the bigger brokers. What Mitrade offers:

• Daily market commentary on the website
• Economic calendar inside the platform
• Beginner-focused articles on CFDs, leverage and risk management
• Built-in chart annotations and basic technical analysis tools

For deeper research, the TradingView charting built into the Mitrade platform covers the basics, or you’d run a second account at a broker like Pepperstone or CMC.

How Mitrade compares to alternatives

Should you open an account with Mitrade?

Open a Mitrade account if you want the simplest possible entry to CFD trading on a clean app with around 400 instruments covering the names most retail traders use. Skip it if you plan to grow into serious tooling, because there is no MT4, no MT5, no RAW account and no standalone TradingView, and the roughly 0.8 pip spreads trail the raw cohort; Fusion Markets is the cost upgrade and Plus500 the closest like for like. The demo mirrors the live app. Weigh it against the best forex brokers in Australia before deciding.

Open a Mitrade demo → (affiliate link, see our advertiser disclosure)