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 ASIC licence and the 2023 stop order

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.

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

Is Mitrade legal in Australia?

Trading with Mitrade is legal for Australian residents through Mitrade Global Pty Ltd, which ASIC licenses under AFSL 398528.

Mitrade client money and negative balance protection

Mitrade Global Pty Ltd is an AFCA member. 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.

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.

Mitrade’s AFCA member is Mitrade Global Pty Ltd, and AFCA’s Datacube, read by our team on 27 September 2026, records 11 complaints received in 2025-26, with the member not listed in 2024-25, under AFCA’s threshold of four or more complaints in the period.

• AFCA business size: Very small
• Not adjusted for client numbers
• AFCA listing threshold: Financial firms that received four or more complaints during the selected period appear in the AFCA Datacube. "Not listed" means the firm is below it.
• Middle of the field: 23 AFCA firms listed for 01/07/2025 - 30/06/2026 among the brokers this site covers, each firm counted once
• Source: AFCA Datacube, complaints by firm, read 27 September 2026

Public reviews

Mitrade holds a Trustpilot rating of 4.7 out of 5 from 2,743 reviews, which Trustpilot labels excellent, captured October 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 33 on 1,160 branded searches in August 2026. Search interest measures attention, not quality; the score above is the review verdict.

18of 33Search 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 1,121 ratings on the Australian App Store (October 2026), listed as Mitrade: Invest Global Markets.

Android users rate Mitrade's Android app 4.4 out of 5 from 33.7K reviews worldwide on Google Play (October 2026), listed as Mitrade - Trade Global Markets.

App Store AU

4.43

1,121 ratingsOctober 2026

Google Play

4.4

33.7K reviews worldwideOctober 2026View on Google Play

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	2,743 reviews	Worldwide	October 2026
App Store	4.43 out of 5	1,121 ratings	Australia only	October 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.

Mitrade key facts at a glance

Mitrade Global Pty Ltd holds ASIC AFSL 398528 and operates from Melbourne. The broker runs one proprietary platform, Mitrade WebTrader, and the card form printed an A$100 minimum per transaction when Noam Korbl funded the live account on 1 September 2026.

Mitrade spreads on the Standard CFD account

Mitrade advertises 0.40 pips on EUR/USD with no commission on the Standard CFD account, a figure recorded on 29 July 2026. We have not measured this spread. Our captures ran on MetaTrader and cTrader, and Mitrade offers neither platform.

Trading Costs is Mitrade’s lowest category score at 2 out of 10, an editorial judgement resting on the advertised 0.40 pip figure because no measurement exists. Mitrade has one retail account, the Standard CFD with spread-only pricing, and no raw or commission tier, so you have no cheaper route inside the brand if you trade actively. I would not put an active trader here.

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.

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.

How Mitrade compares to Plus500 and eToro

Mitrade ranks well below Plus500 on our 2026 scoring. Both Australian entities run proprietary platforms only, with no MetaTrader, so platform choice alone will not separate them for you.

Plus500AU Pty Ltd holds AFSL 417727, and Mitrade Global Pty Ltd holds AFSL 398528. The Plus500 review sets out Plus500’s costs and record. Mitrade’s 0.40 pip EUR/USD spread is advertised and unmeasured, so I would not pick between the two on price from our data.

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.

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 card form Noam Korbl opened on 1 September 2026 printed a limit of AUD 100 to AUD 50,000 per transaction, so A$100 is the card minimum, and the limits for PayID, BPAY and bank transfer were not captured. His A$200 Visa/Mastercard deposit took 3 minutes 39 seconds from the card form to the “Deposit Success” modal, with no deposit fee charged. A Demo mode with an A$50,000 virtual balance opened before the email was verified. I think A$100 is a reasonable bar for a first account, small enough to learn on without much skin in the game.

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 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)

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 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.

Mitrade WebTrader

The stack carries:

• One-click trade entry with preset position sizes
• Smart price alerts and push notifications on mobile
• 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.
• Advanced order routing

Mitrade app

Mitrade publishes its own mobile app: the App Store lists “Mitrade: Invest Global Markets” and Google Play lists “Mitrade - Trade Global Markets”. A client can trade WebTrader, the broker’s in-house platform, on iOS and Android.

Verify the seller or developer name yourself: the App Store entry names MITRADE GLOBAL PTY LTD and Google Play names Mitrade Global Pty Ltd, both read on 5 August 2026. The app runs WebTrader, which carries one-click trade entry, price alerts and synced watchlists, but no expert advisors and no copy trading layer. MetaTrader 4, MetaTrader 5 and cTrader are absent, so no third-party app covers those platforms here. See how Mitrade sits among the best trading apps in Australia.

• App Store: Australian storefront, exact figures from Apple's iTunes Search API
• Google Play: worldwide counts, not comparable with the App Store counts
• Third-party MetaTrader, cTrader and TradingView apps not listed

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.

• Given up with professional status: negative balance protection, the retail leverage limits, the 50% margin close-out
• Source: ASIC product intervention order (retail); Mitrade and its Australian support, read 30 September 2026 (professional)

Leverage for Mitrade retail accounts tops out 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 markets and instrument counts

Mitrade offers CFDs on forex, indices, commodities, crypto and shares, the market tabs our live AU account showed on 1 September 2026. Every product is a CFD, so you trade price movements and hold no underlying asset.

At 50 plus pairs, forex is the deepest part of the book, 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. Every equity position is a contract for difference, so you never hold the underlying share and never receive a shareholder right. 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 customer service, research and education

Mitrade’s support desk answered our web-chat questions on mitrade.com/au on 17 and 23 September 2026, covering TradingView charting, payment methods and withdrawal fees. No support response time has been measured, and nothing on record says whether a person or an automated agent replied.

On 23 September 2026, Mitrade’s support desk confirmed that Australian clients get four free withdrawals per calendar month, then A$5 for each extra request, and that Skrill and NETELLER are not available to them. Customer Service scores 5 out of 10 as a desk assessment, because no support test has been timed. I would ask the desk to confirm a fee before relying on it.

Mitrade research, tools and education

Mitrade publishes daily market commentary, an economic calendar inside the platform, beginner articles on CFDs and leverage, and built-in chart annotations. We have not assessed the research or education live, so this section states only what the broker publishes.

Should you open a Mitrade account?

Mitrade suits first-time CFD traders who want one proprietary app and an A$100 card minimum, the limit the card form printed on 1 September 2026. Traders who run expert advisors or move strategies between brokers need a MetaTrader broker, because Mitrade offers no MetaTrader 4, MetaTrader 5 or cTrader.

The A$100 card minimum places Mitrade among the beginner forex brokers in Australia worth a first account. We have not yet tested a withdrawal, and the withdrawal policy reserves the right to ask for further information for verification. I would ask Mitrade what identity check applies before depositing.

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.