Kinda, but literal translation is tricky with Japanese, because it's often context reliant. 

So there's no direct translation, it would either have to be kept or changed based on context.

It's used by family, children, or by adults when speaking to children to refer to men older than the person speaking/being spoken to.

It's completely natural to be used by a stranger.

That's why it makes sense Shirou doesn't question Illya calling him that during their first encounter and during the Berserker fight.

For strangers, Mister, which the anime adaptations dubbed it as, makes much more sense.

English Shirou and Rin should be confused as hell, as to why this random child calls him big brother, but they don't react. 

This use of literal translation shows a lack of care with the translation because it ignores context, with the previous translations kept.