Mitrade Review Australia 2026

Mitrade at a glance: 17 key facts

Mitrade Global Pty Ltd operates under ASIC AFSL 398528 from Melbourne, with one proprietary platform, around 400 instruments and an A$100 minimum deposit. The 17 key facts below name the entity and the offshore licences.

Mitrade prices every one of those instruments through the spread alone, and the pricing section below sets out what that costs.

Mitrade spreads on the Standard CFD account

Mitrade standard-account spreads recorded 0.40 pips on EUR/USD and 0.96 pips across the eight pairs in the May to June 2026 capture, third of 21 standard accounts. No commission applies on the Standard CFD account.

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 an active trader has no cheaper route inside the brand.

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. Third of 21 standard accounts places Mitrade inside the lowest spread brokers in Australia rankings.

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. A retail trader placing one or two positions a week pays a few dollars a month at that gap; a high-frequency scalper pays materially more.

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. 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.
• Withdrawals on standard methods cost A$0.

The inactivity fee is the most aggressive structural term Mitrade applies after the single-account limitation, and it is conditional on both counts. An account that places one trade inside the six-month window pays nothing, and an account holding more than US$100 pays nothing either.

Mitrade trading platform

The Mitrade trading platform is WebTrader alone, one 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.

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 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 Mitrade Pro clients receive Advanced TradingView Charting plus 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. WebTrader ranks among the mobile broker apps in Australia worth a beginner’s attention for that reason.

Is Mitrade safe? ASIC AFSL 398528

Mitrade Global Pty Ltd holds ASIC AFSL 398528, and the only other licences in the group are Tier 3, from CIMA in the Cayman Islands and the FSC in Mauritius, both serving non-Australian clients.

ASIC regulation and global licences

Mitrade Global Pty Ltd holds AFSL 398528 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.

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.

Mitrade client money protection and offshore entities

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.

Mitrade holds retail client money 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. The Compensation Scheme of Last Resort sits behind that with an A$150,000 cap, and it excludes CFD trading losses, so it covers unpaid awards for misconduct rather than losing trades. The retail standard is set out in the guide to negative balance protection rules.

One carve-out matters before the Pro tier looks attractive. Negative balance protection is a retail protection, and Mitrade Pro clients surrender it along with the ASIC leverage caps.

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.

Mitrade holds a Trustpilot rating of 4.7 out of 5 from 2,662 reviews, which Trustpilot labels excellent, captured August 2026. The profile has been claimed by the broker since March 2019.

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 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 exists for active traders, and no Active Trader rebate programme runs alongside it.

Minimum deposit

The A$100 entry is one of the lower minimums in the Australian market, low enough that a first-time trader can fund an account and size a position without committing much capital. The Mitrade demo account carries no expiry.

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.

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. 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 funding methods and withdrawal fees

Mitrade funding methods come to five and every one carries no deposit fee, from instant card payments to bank transfer in one to two business days.

Deposit methods (AU clients)

Mitrade charges no deposit fee on any of the five methods, cards included, which is unusual enough to be worth stating plainly. Mitrade also accepts Apple Pay, Google Pay, Skrill and NETELLER for Australian clients, which suits a broker built mobile-first.

Withdrawals

Standard withdrawal methods are fee-free. Mitrade requires a withdrawal to return to the source used for the deposit wherever that route is available, which follows standard anti-money-laundering practice. Mitrade publishes no processing time for withdrawals.

Account opening

Account opening is fully online and AUSTRAC-compliant, taking one identity document, either a driver’s licence or a passport, plus one proof of address.

Mitrade markets and instrument counts

Mitrade markets and instrument counts stop at around 400 across five asset classes, against more than 12,000 at CMC Markets, and cover forex, indices, commodities, crypto and share CFDs.

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.

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.

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.

Share CFDs

Mitrade share CFDs 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 a Mitrade client never holds the underlying share and never receives 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. Mitrade crypto positions are contracts for difference rather than coins a client owns or moves 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.

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. 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. The tier structure behind the 30:1 cap is explained in the guide to how leverage works on CFD accounts.

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.

Mitrade support closes at the weekend. A funding or verification question raised 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. 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 measured during Australian business hours is the strongest service figure this broker publishes.

Mitrade language coverage is a genuine and unusual differentiator. 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.

• 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.

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.

How Mitrade compares to Plus500 and eToro

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

Mitrade loses to Plus500 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: 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 a trader who wants to mirror other accounts has no route to it here.

Should you open a Mitrade account?

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 to test the workflow before funding anything.

Three groups of trader should look past a Mitrade account. 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.

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

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