Mitrade Review Australia 2026

Is Mitrade safe? ASIC AFSL 398528

Mitrade is regulated under ASIC AFSL 398528, held by Mitrade Global Pty Ltd and current since 2011.

The group also holds Tier 3 licences from CIMA in the Cayman Islands and the FSC in Mauritius, but those serve non-Australian clients only. Your account stays under the Australian entity and full ASIC oversight.

ASIC regulation and global licences

AFSL 398528 is held by Mitrade Global Pty Ltd with the Australian Securities and Investments Commission, the Tier 1 credential that decides what an Australian retail trader is actually buying. The register records the licence as current since 16 June 2011. In June 2023 ASIC placed an interim DDO stop order on Mitrade over its retail client screening, and revoked it on 26 July 2023 after Mitrade addressed the concerns, so the regulatory history has one blemish you should read before funding. In my view, that blemish is worth noting.

The Mitrade group also operates under two offshore regulators:

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

Neither offshore licence applies to an Australian retail client, and neither carries the client-money protections the AFSL requires.

Before depositing, confirm Mitrade holds AFSL 398528 using the site's guide to checking a broker on ASIC's register.

Mitrade client money protection and offshore entities

For my money, client money protection at Mitrade covers segregation at an Approved Australian Bank, mandatory negative balance protection and AFCA membership, while the Cayman and Mauritius entities sit outside those protections.

Retail client money at Mitrade sits in segregated accounts at an Approved Australian Bank, separate from company funds. ASIC requires negative balance protection on retail CFD accounts, so a retail account cannot lose more than the money in it. AFCA hears claims up to A$1,263,000 and awards compensation up to A$631,500. Eligibility under the Compensation Scheme of Last Resort is limited to personal advice, securities dealing and credit, with payments capped at A$150,000, so CFD and forex trading do not qualify. The retail standard is set out in the guide to negative balance protection rules. For you, that means your retail funds are ring-fenced and protected.

Before the Pro tier looks attractive, one carve-out matters for you. Negative balance protection is a retail protection, and Mitrade Pro clients surrender it along with the ASIC leverage caps. I would weigh that carefully.

History, ownership and public reviews

The Mitrade brand was established in 2011 and the group remains privately held. The third-party rating panel below carries the public scores. Recurring praise covers the platform and the deposit speed; recurring complaints cover spread levels and the single-platform limitation, which matches my read of the trade-off.

Mitrade holds a Trustpilot rating of 4.7 out of 5 from 2,699 reviews, which Trustpilot labels excellent, captured September 2026. The profile has been claimed by the broker since March 2019.

How popular is Mitrade in Australia?

Mitrade sits in the lower half for search interest, 18th of 32 on 1,160 branded searches in August 2026. Search interest measures attention, not quality; the score above is the review verdict.

18of 32Search interest rank

1,160

Brand searches, August 2026

+12.6%

vs July 2026

260

Login searches

0.6%

Share of all broker searches

Source: Google search volume, Australia, August 2026. How this is measured

What other review sites say

Mitrade's iOS app rates 4.43 out of 5 from 1,045 ratings on the Australian App Store (August 2026), listed as Mitrade: Invest Global Markets.

Android users rate Mitrade's Android app 4.4 out of 5 from 33k reviews worldwide on Google Play (August 2026), listed as Mitrade - Trade Global Markets.

App Store AU

4.43

1,045 ratingsAugust 2026

Google Play

4.4

33k reviews worldwideAugust 2026View on Google Play

Mitrade at a glance: 17 key facts

Mitrade Global Pty Ltd operates under ASIC AFSL 398528 from Melbourne, and these key facts list one proprietary platform, around 400 instruments and an A$100 minimum deposit.

The 17 key facts below name the entity and the offshore licences, so the company line is clear from the start.

Every one of those instruments is priced through the spread alone, and the pricing section below sets out what that costs. My read is that this simplicity keeps the cost comparison straightforward for you.

Mitrade spreads on the Standard CFD account

Mitrade advertises a standard-account EUR/USD spread of 0.40 pips with no commission on the Standard CFD account, and we have not measured it. Our captures ran on MetaTrader and cTrader, and Mitrade offers neither platform. The spread is the whole trading cost, making the pricing structure one of the simplest available to Australian retail traders.

Mitrade earns its lowest category score on trading costs, and the reason is structural rather than a matter of pips. The rank is measured against other spread-only accounts, and Mitrade runs no raw or commission tier at all, so you have no cheaper route inside the brand if you trade actively. I would not put an active trader here for that reason.

Spreads on AUD/USD and majors

The indicative column runs wider than the 0.40 pip headline because it prices a typical session rather than the tightest available quote. The lowest spread brokers in Australia guide does not rank Mitrade, listing it among the brokers with no capture, because Mitrade offers no MetaTrader or cTrader account, the platforms our spread captures run on.

Mitrade total cost against the standard-account field

Mitrade does not price cheapest on that table, and the distance to the lowest-cost accounts runs around 0.2 to 0.3 pips. Place one or two positions a week and you pay a few dollars a month at that gap; run a high-frequency scalping style and the cost is materially higher. In my view, the gap matters more for high-frequency traders.

What trading with Mitrade costs

Trading with Mitrade costs nothing in commission, with a US$10 monthly inactivity fee applying after six months of no trading on balances under US$100.

The spread therefore carries the entire cost of a position, so your only per-trade cost is the spread. The fees below sit outside it and apply to specific behaviours rather than to every trade.

• Overnight swap rates apply to CFD positions held past 5 PM New York time, and the direction of the position decides whether the swap is a credit or a debit.
• The inactivity fee runs US$10 per month, charged as the Australian dollar equivalent on AUD accounts, after six months of no trading activity and only where the account balance sits under US$100. It stops once a trade is placed.
• Currency conversion applies to any instrument denominated in a currency other than the account base.
• A guaranteed stop-loss premium is charged only where a guaranteed stop triggers.
• Mitrade’s support desk told us on 23 September 2026 that you get four free withdrawals per calendar month, then A$5 per additional request, with the quota resetting monthly (UTC+0).

The inactivity fee is the most aggressive structural term Mitrade applies after the single-account limitation, and it is conditional on both counts. Place one trade inside the six-month window and you pay nothing; hold more than US$100 and the fee does not apply either. In my view, that’s a fair condition.

Mitrade funding methods and withdrawal fees

Mitrade funding methods carry a zero deposit fee, with card and PayID deposits normally arriving within 2 to 3 minutes and a minimum deposit of A$100.

BPAY takes 1 to 3 days and bank transfer 1 to 2 days, on the deposit menu Noam Korbl captured on 1 September 2026. Those times are Mitrade’s own stated labels, not our measurements.

Deposit methods (AU clients)

Mitrade charges no deposit fee on any of these methods, cards included, so a card deposit costs you nothing on Mitrade’s side. Apple Pay and Google Pay are listed for Australian clients on Mitrade’s AU charges page, read on 17 September 2026, a phone-wallet pairing that in my view suits a broker built mobile-first. Mitrade’s support desk told us on 23 September 2026 that Skrill, NETELLER and QR Code Payment are not available to Australian clients.

From the live trading screen at 11:58 am AEST on 1 September 2026, Noam Korbl opened the deposit menu and found the “ZERO Deposit Fee & Fast Withdrawal” banner, with PayID tagged “Popular” and pre-selected. He chose the Visa/Mastercard tile. The form asked for card number, expiry date and CVV, and stated a per-transaction limit of A$100 to A$50,000. Noam entered A$200, and our capture clocked 3 minutes 39 seconds from the open form to the “Deposit Success, +AUD 200.00” modal, balance on the trading screen 24 seconds later. There was no wallet step, so the money went straight to the trading account. The condition on your own time is Mitrade’s own label, “normally within 2-3 mins”, and one run on one card is all our capture holds. I call that a fast deposit.

Withdrawals

Mitrade’s withdrawal policy, captured by Noam from the withdrawal modal on 1 September 2026 before any deposit, sets a minimum withdrawal of A$20 and shows the applicable fee only after you click “Withdraw Now”. The support desk told us on 23 September 2026 that you are entitled to four free withdrawals per calendar month, after which an A$5 handling fee applies to each additional request, with the free quota resetting at the start of each calendar month (UTC+0). Batching your withdrawals keeps you inside the free quota, so it pays to plan them rather than drip funds out. Mitrade’s AU charges page, read on 17 September 2026, adds that third-party charges such as intermediary bank fees, international card transactions and currency conversion sit outside Mitrade’s control.

The policy also requires a withdrawal to return to the source used for the deposit wherever that route is available, which follows standard anti-money-laundering practice. It reserves the right to ask you for further information for verification purposes, though you can cancel a request while it is still “Pending” and the amount returns immediately. Mitrade publishes no processing time for withdrawals, so you cannot plan around a stated turnaround. The two things to know before you deposit are that the fee appears only on click, and that a verification request can arrive after you have funded the account.

Account opening

Mitrade opens Australian accounts under Mitrade Global Pty Ltd, the ASIC licensee holding AFSL 398528, and Noam Korbl completed one full application on 1 September 2026. The platform’s own clock timed 29 minutes 6 seconds from the sign-up modal at 11:33:10 to a funded live account at 12:02:16. That is one application rather than a promise about your timing, and it tells you what a single clean run looks like. Against the 3 hours 26 minutes Noam’s Capital.com application took on 16 August 2026, as we state in our Capital.com review, I rate this as fast, with the identity question below still open.

You start with four sign-up routes: Google, Facebook, Apple, or phone and email. The email link expires in 24 hours, and the platform is already in Demo mode behind the prompt, showing A$50,000. You then give country of residence and nationality, with base currency AUD beneath the field, the not-a-US-taxpayer declaration, and consent to Mitrade using personal data for verification through third-party services, a document issuer or an official record holder. A marketing consent box sits pre-ticked. Next comes your name as it appears on your driving licence or passport, your date of birth, and four typed address fields with a state pop-up and no autocomplete. The account step offers one card only, Standard at 30:1, with no alternative. The two-section risk profile carries the rejection warning on both captured screens. You finish by opening and ticking four documents: the Product Disclosure Statement, Client Agreement, Financial Services Guide and Risk Disclosure Statement.

Our capture stops before the identity check. The sidebar names Identity Verification as the stage that activates the live trading account, and you consent to a third-party check at the country step, but the captured frames show no document upload, no selfie, no verification provider and no result screen, and the account was live with a deposit menu at 11:54 am AEST and took A$200 at 12:01:52 anyway. The withdrawal policy reserves the right to ask for further information for verification purposes, so if you fund first you may learn what proof is required only when you try to take money out. I cannot tell you what check will be asked for or when, because the frames do not show it, and I share Noam’s view that a check completed before the first deposit would be clearer for you.

His notes also record the friction. The email verification link opened in a new browser tab, the confirmation page needed a Continue click before returning to the application, and the flow left several Mitrade tabs open, which Noam called fragmented. He found the four-field address entry clunky too, though with no account or platform choice to make, there is little else to slow you down. Once you are through, the question becomes what you can trade, and that is where we go next.

Mitrade account types and minimum deposit

Mitrade account types run to two: the retail Standard CFD account at an A$100 minimum deposit and the wholesale Mitrade Pro tier for qualifying clients.

Mitrade runs one retail account type, and that is the structural limitation on this broker: no raw or commission tier for active traders and no Active Trader rebate programme, which is why I would rather see a cheaper tier for those traders.

Minimum deposit

The A$100 entry is one of the lower minimums in the Australian market, low enough that you can fund an account and size a position without committing much capital. The Mitrade demo account carries no expiry, which I like for a first test of the platform.

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 receive 200:1 on forex, gold, other commodities and indices, 10:1 on share CFDs and 100:1 on crypto CFDs, and that is the tier accessible once you meet the test.

The detail that matters most 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. 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 client-money rules go with it. I would want my Pro account onshore, and Mitrade Pro clients stay onshore.

The Mitrade Pro trade-off remains real. Pro clients give up the retail leverage caps, the 50% margin close-out rule and retail negative balance protection. Mitrade runs no swap-free account, confirmed with the desk in July 2026.

Mitrade trading platform

Mitrade runs one trading platform, WebTrader, a proprietary stack across web, iOS and Android.

MetaTrader 4, MetaTrader 5 and cTrader are absent, and TradingView charting is built in without standalone TradingView execution, which means you never leave the in-house environment.

That platform absence is the single most consequential fact about this broker for a trader arriving from another platform, and it is deliberate. Mitrade has built everything around one in-house stack, and in my view the result is more polished than most proprietary CFD platforms.

Mitrade WebTrader

The stack carries:

• 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
• Estimated margin and pip value shown before order entry

The stack omits:

• Expert advisors and automated trading
• A copy trading layer; eToro and ZuluTrade integrations are not offered
• Level 2 depth-of-book pricing
• Standalone TradingView and Autochartist execution. TradingView charts are built into the Mitrade platform, and the charting features are the same for both Standard and Pro accounts, per Mitrade’s support desk on 23 September 2026. Mitrade Pro clients receive reimbursement of a TradingView annual plan.
• Advanced order routing

Mobile apps (iOS and Android)

The mobile experience is where Mitrade earns its position in the Australian market. Both Mitrade apps support biometric login through Face ID, Touch ID and fingerprint, push price alerts, and full account management including funding and withdrawal. I would put WebTrader among the mobile broker apps in Australia worth a beginner’s attention for that reason.

Mitrade markets and instrument counts

Mitrade offers around 400 instruments across five asset classes, and its markets and instrument counts cover forex, indices, commodities, crypto and share CFDs.

That figure sits against more than 12,000 at CMC Markets, so you get enough for most retail trading without the catalogue depth.

That range is narrower than CMC Markets at 12,000+, IG at 18,000+ or Pepperstone at 1,200+, and it still covers the categories most retail traders use. The markets range that dwarfs this one belongs to the broker in the CMC Markets review, not to Mitrade.

Forex is the deepest part of the book at 50 plus pairs, and the AUD crosses an Australian trader wants are all present. The index side carries the ASX 200 alongside the large global contracts, and commodities run to the standard retail set across metals and energy, so the local exposure an Australian trader wants is covered without leaving the platform, and you get the local exposure you need.

Mitrade share CFDs and crypto CFDs

Mitrade share CFDs cover selected US, Australian, UK and Hong Kong names as CFDs only, with no direct share ownership, while crypto CFDs run to six coins at the 2:1 retail cap, which is the ceiling your retail account faces.

Share CFDs

Share CFDs at Mitrade reach the large tickers rather than full market coverage, which is consistent with a roughly 400 instrument total. Every equity position is a contract for difference, so you never hold the underlying share and never receive a shareholder right. CMC Markets and Interactive Brokers cover direct ASX ownership and Mitrade does not. CFD-only share exposure is compared against direct ownership in the guide to share CFDs in Australia.

Crypto CFDs

Mitrade crypto CFDs cover BTC, ETH, XRP, LTC, ADA and SOL at the ASIC 2:1 retail cap. These crypto positions are contracts for difference rather than coins you own or move to a wallet, so no custody question arises and no transfer out is possible.

Mitrade leverage and margin under ASIC rules

Retail accounts at Mitrade trade to a maximum retail leverage of 30:1 on major forex pairs under ASIC rules, and the wholesale Mitrade Pro tier trades above that ceiling without retail protections, which is a trade-off you need to weigh.

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 extended to 23 May 2027, so they apply at every ASIC broker rather than at Mitrade alone, and your retail margin close-out sits at 50%.

Mitrade surfaces the applicable cap per instrument at order entry, which removes the most common margin surprise on a first account. The wholesale Mitrade Pro tier lifts those ceilings to 200:1 on forex, gold, other commodities and indices, and it does so on the same AFSL rather than through an offshore entity. I would still read the tier structure behind the 30:1 cap in the guide to how leverage works on CFD accounts before you fund.

Mitrade customer support

Mitrade customer support runs 24 hours a day Monday to Friday on live chat and email, in English and Chinese, with live-chat replies inside 90 seconds during Australian business hours, so you can reach them through the working week.

Support closes at the weekend at Mitrade. A funding or verification question you raise on a Saturday waits until Monday, which is a real gap for a broker whose clients trade from a phone at odd hours.

Mitrade offers two contact channels rather than three, so phone support is more limited than the desks at CMC Markets or Pepperstone, both of which publish a direct Australian line. Live chat carries the load instead, and the sub-90-second reply time Noam measured during Australian business hours is the strongest service figure this broker publishes, so you rely on live chat for quick answers.

Language coverage is a genuine and unusual differentiator for Mitrade. Mitrade staffs English and Chinese on the same desk, with other Asia-Pacific languages available through the regional support teams, and no comparable Australian broker in this set states a second support language at all.

Mitrade research, tools and education

Mitrade research, tools and education run to four published components: daily market commentary, an economic calendar inside the platform, beginner articles on CFDs and leverage, and built-in chart annotations, which keeps things simple if you are just starting.

• 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

Four components is a light stack, and Mitrade is light by comparison with CMC Markets and Pepperstone specifically, both of which run in-house analyst desks and multi-module course libraries. That research gap matches the platform score, which is a trade-off I would accept only as a beginner.

The material Mitrade does publish is pitched at a first-time trader rather than at a discretionary macro trader, which matches the audience the A$100 minimum attracts. TradingView charting built into the platform covers the technical side adequately, and a trader who needs deeper research generally runs a second account elsewhere, which may matter when your strategy outgrows the toolkit.

What traders say about Mitrade

Public ratings of Mitrade from the rating sites that list it, showing the number of reviews or ratings behind each score and the month it was captured.

Rating site	Rating	Based on	Who rated	Captured
Trustpilot	4.7 out of 5	2,699 reviews	Worldwide	September 2026
App Store	4.43 out of 5	1,045 ratings	Australia only	August 2026

Each row above is a public rating of Mitrade taken from a rating site, dated to the month its figure was captured. An App Store rating counts ratings left on Apple's Australian App Store only, while a Trustpilot figure counts reviews and a TradingView figure counts ratings from anywhere in the world. A site with no row has no rating for Mitrade, withholds it, cannot be matched to Mitrade with confidence, or we have not captured it yet.

How Mitrade compares to Plus500 and eToro

Mitrade ranks below Plus500 on cost and ASIC history in the 2026 cycle. On mobile design, Mitrade compares to Plus500 and undercuts it with an A$100 minimum deposit, which lowers the entry barrier.

Against Plus500, Mitrade loses on ASIC record length, on parent-company listing and on cost. The broker that finished ahead on cost and history is priced in full in the Plus500 review. Mitrade answers on two specifics worth using: the A$100 minimum deposit, and a mobile-first platform designed for order entry from a phone.

Mitrade compares to eToro on a different axis. Copy trading is the one category neither broker shares, and it is covered in the eToro review. Mitrade runs no copy-trading layer at all, so you cannot mirror other accounts here.

Should you open a Mitrade account?

I’d say Mitrade suits first-time CFD traders who want one mobile app and around 400 instruments on an A$100 minimum deposit. Traders who run expert advisors or migrate strategies between brokers need a MetaTrader broker instead of a Mitrade account.

The A$100 entry point places Mitrade among the beginner forex brokers in Australia worth a first account, and the demo mirrors the live app closely enough for you to test the workflow before funding anything. I would start there.

Three groups of trader should look past a Mitrade account, and you may be in one of them. Active traders lose money to the spread against a raw account and have no cheaper tier to move to. Strategy traders lose the MetaTrader ecosystem entirely, along with expert advisors and cross-broker portability. Traders who want real ASX shares get share CFDs and no ownership. In my view, that covers the main exclusions.

Mitrade sits near the bottom of the best forex brokers in Australia on the 2026 scoring, and the honest summary, I think, is that it does one job well for one kind of trader.