MultiBank Logo
Written by:
Fact checked by:
Updated:
May 2023
Recommended for
  • forex trading 4.2/5
Trusted broker
  • Top-tier regulation in the US
  • Compensation in case of broker bankruptcy (terms apply)
  • Long track record - founded in 2005
Popularity
5,517 people chose this broker in the last 6 months

Our take on MultiBank

MultiBank is an international CFD and forex broker, regulated by several financial authorities such as the top-tier ASIC of Australia. MultiBank's account opening is smooth and fast. From bank transfers to electronic wallets, you have many options for deposit and withdrawal, and they are all free of charge. Customer service gives quick and useful answers. On the negative side, there is an inactivity fee, and MultiBank's product portfolio is quite thin, as it covers only forex, CFD and cryptocurrencies. Research and educational tools are also very basic. BrokerChooser gave MultiBank a 4.2/5 rating based on analyzing 500+ criteria and testing via opening a live account.

BrokerChooser score
4.2 4.2 /5
Visit broker 74-89% of retail CFD accounts lose money
MultiBank is not available in United States
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S&P 500 CFD benchmark fee
$1.2
Credit/debit card deposit
Yes
Minimum deposit
$200
Negative balance protection
Yes
Pros
Cons
Quick and easy account opening
Inactivity fee
Free and varied deposit and withdrawal options
Limited product coverage
Fast and helpful customer service
Poor research and educational tools
Expert opinion
“I recommend MultiBank for forex traders as it charges low forex fees. It doesn’t work well for investors, though, as it does not offer stocks, funds or bonds. I liked that this broker has a 24/7 customer service and they are very helpful.”
Gergely Korpos
Co-founder / CPO

MultiBank main highlights

🗺️ Country of regulation Australia, UAE, British Virgin Islands
💰 Trading fees class Average
💰 Inactivity fee charged Yes
💰 Withdrawal fee amount $0
💰 Minimum deposit $200
🕖 Time to open an account 1 day
💳 Deposit with bank card Available
👛 With electronic wallet Available
💱 Number of base currencies 7
🎮 Demo account provided Yes
🛍️ Products offered Forex, CFD, Crypto

MultiBank summary

Fees
3.3
Account opening
5
Deposit and withdrawal
4.5
Web trading platform
4.8
Mobile trading platform
3.8
Desktop trading platform
3.4
Markets and products
2.3
Research
4.8
Customer service
5
Education
4
Safety
To read much more details about the broker's services and features, expand on the sections below.

MultiBank review
Fees

Score: 3.3/5
+
MultiBank has low forex and stock index CFD fees, and doesn't charge any withdrawal fees. On the other hand, inactivity fee kicks in after 13 months.
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MultiBank review
Account opening

Score: 5/5
+
Opening an account at MultiBank is easy and straightforward; your account could be ready for trading within a day. However, some account types require a high minimum deposit.
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MultiBank review
Deposit and withdrawal

Score: 4.5/5
+
Deposit and withdrawal at MultiBank are great. You can use many deposit and withdrawal types and withdrawal is free.
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MultiBank review
Web trading platform

Score: 4.8/5
+
Multibank offers the MetaTrader4 trading platform. It's highly customizable, multilingual and has a clear fee report. However, it lacks two-step login and the design is outdated.
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MultiBank review
Mobile trading platform

Score: 3.8/5
+
MultiBank has a great mobile trading platform, offered by MetaTrader 4. It is well designed and user-friendly. On the flip side, it lacks two-step authentication for login.
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MultiBank review
Desktop trading platform

Score: 3.4/5
+
In design and functionality, MultiBank's MetaTrader 4/5 desktop platforms are almost the same as their web versions; a plus is that you can set price alerts on the desktop platform.
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MultiBank review
Markets and products

Score: 2.3/5
+
At MultiBank, you can trade only forex and CFDs, including stock and stock index CFDs as well as cryptos.
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MultiBank review
Research

Score: 4.8/5
+
MultiBank has a useful newsletter, but research tools of the MT4 platform could be better, as it offers no trading ideas or fundamental data. You can add extra tools, but only for a fee.
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MultiBank review
Customer service

Score: 5/5
+
MultiBank has great 24/7 customer support. We got quick and helpful responses via email, chat and phone.
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MultiBank review
Education

Score: 4/5
+
MultiBank scores highly on the education front, as it offers a demo account and there are also other learning materials, such as educational videos and a trading platform tutorial.
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MultiBank review
Safety

+
MultiBank is a global broker regulated by several financial authorities, including the top-tier ASIC and BaFin.
Read more

MultiBank review
Bottom line

MultiBank is a forex and CFD broker regulated by several financial authorities globally, including the top-tier ASIC.

Among its positive features, the account opening process is seamless and hassle-free. Forex fees are competitive, and multiple free options are available for deposit and withdrawal. Customer service is great: quick, helpful and multilingual.

MultiBank has some drawbacks, though. There is an inactivity fee, which is charged after 13 consecutive inactive months, and is $10 per calendar month. Its product range is limited to FX, CFDs and cryptos. Research and educational tools are quite basic, limited to some charting tools and a newsletter.

As MultiBank has a free demo account, we encourage you to give it a try.

Visit broker
74-89% of retail CFD accounts lose money

MultiBank review
FAQ

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Author of this review

Adam Nasli

Author of this review

Adam is a motivated finance expert. He is one of the first hires at BrokerChooser and has since tested almost all 100+ brokers covered by BrokerChooser. Adam holds a professional degree from CEU and he helps teach finance and programming courses at his alma mater. Previously he worked in the banking sector, including at Citi Bank. He loves researching the financial industry, managing his long-term investments, and trading with algorithms.

Adam Nasli

Analyst Head

Adam is a motivated finance expert. He is one of the first hires at BrokerChooser and has since tested almost all 100+ brokers covered by BrokerChooser. Adam holds a professional degree from CEU and he helps teach finance and programming courses at his alma mater. Previously he worked in the banking sector, including at Citi Bank. He loves researching the financial industry, managing his long-term investments, and trading with algorithms.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

Visit MultiBank
74-89% of retail CFD accounts lose money

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