Mitrade Review Australia 2026

Verdict

Mitrade sits in a specific corner of the Australian CFD market. It’s the broker for traders who don’t want MetaTrader. The proprietary WebTrader is clean, fast and built mobile-first, which puts it in direct competition with Plus500 and eToro for the beginner-to-intermediate retail trader who prefers tapping through an app to wiring up an EA. Pricing is reasonable rather than category-leading. EUR/USD typically sits between 0.6 and 1.0 pips with no commission, which beats easyMarkets and AvaTrade but trails the RAW accounts at IC Markets, Pepperstone and Fusion Markets by a clear margin. The 400+ instrument range is enough for most retail traders without overwhelming a new account.

What you give up is platform choice. There’s no MT4, no MT5, no cTrader and no TradingView integration. If you ever want to migrate a strategy across brokers, run an expert advisor, or use TradingView as your charting layer, Mitrade isn’t the right starting point. For traders who specifically want a single mobile app and don’t care about the MetaTrader ecosystem, it does its job well.

Quick facts

Trading costs and fees

Spreads on AUD/USD and majors

Mitrade is a single-account, no-commission broker. You pay through the spread. Our most recent measurements put Mitrade in the middle of the AU pack: tighter than easyMarkets, AvaTrade and Plus500, 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. For a retail trader running a few hundred dollars in margin and trading once or twice a week, that’s a few dollars per month. For an active scalper, it adds up.

Other fees to know about

• Overnight swap rates apply to CFD positions held past 5 PM New York. Direction-dependent.
• Inactivity fee: USD 10 per month after six months of no activity. Resumes 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 its product around a single proprietary stack and the user experience is unusually polished compared with most proprietary 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 third-party charting integrations (TradingView, Autochartist)
• 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.

Trust and safety

Trust score: 7.5/10.

Regulation

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.

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.

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 carries TrustPilot scores in the 4.0 to 4.4 range from 1,500+ reviews globally. Common positives: clean platform, fast deposits, helpful live chat. Common negatives: spreads not the cheapest, occasional withdrawal verification delays during high-volume periods, limited platform choice.

Account types and minimum deposit

Mitrade keeps it simple. There’s one account.

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

Funding and withdrawals

Deposit methods (AU clients)

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.

• Forex: 50+ pairs including the major AUD crosses (AUD/USD, AUD/JPY, AUD/NZD, AUD/CAD)
• Indices: ASX 200 plus all major global indices (S&P 500, NASDAQ, FTSE 100, DAX, Nikkei, Hang Seng)
• Commodities: gold, silver, WTI and Brent crude, natural gas, copper
• Cryptocurrencies: major crypto CFDs including BTC, ETH, XRP, LTC, ADA, SOL (ASIC’s 2:1 retail leverage cap applies)
• Share CFDs: selected US, AU, UK and HK names. Coverage is curated rather than comprehensive

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 plus several Asian languages (Mandarin, Vietnamese, Thai, Indonesian, verify current list).

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, you’d be looking at TradingView (which Mitrade doesn’t integrate with), or you’d run a second account at a broker like Pepperstone or CMC.

How Mitrade compares to alternatives

If you value…	Consider
Same simple proprietary platform	Plus500 or eToro
Copy trading	eToro
Lower spreads on a proprietary platform	CMC Markets (Next Generation)
MT4 / MT5 / cTrader options	Pepperstone or IC Markets
Tightest forex spreads	IC Markets or Fusion Markets
Direct ASX share investing	CMC Markets or Interactive Brokers
TradingView trading	Pepperstone or OANDA

Bottom line

Mitrade is a credible mid-tier ASIC-regulated broker for Australian retail traders who specifically want a clean, mobile-first proprietary CFD platform and don’t need MT4/MT5 or copy trading. It’s not the cheapest broker on the market and the platform stack is single-track. For the right trader, those tradeoffs are fine. For an active forex trader chasing the tightest spread, or anyone planning to run automated strategies, look elsewhere.

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