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MultiBank Review 2024

Written by
Adam N.
Fact checked by
Updated
2d ago
Regulated and trusted. Tested via live trading.
6,328 people chose this broker
Not available in United States; see best alternatives

Why choose 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 600+ criteria and testing via opening a live account.

  • Quick and easy account opening
  • Free and varied deposit and withdrawal options
  • Fast and helpful customer service
Overall score
4.2/5
Minimum deposit
$50
FX fee
Low
Index CFD fee
Low
Withdrawal fee
$0
Account opening
1 day
Visit MultiBank

74-89% of retail CFD accounts lose money

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EURUSD spread
Usual spread in pips

Fees

Score: 3.5/5
MultiBank has low trading and forex fees, and doesn't charge any withdrawal fees. On the other hand, inactivity fee kicks in after 13 months.
  • Low trading fees
  • Low forex fees

We compared MultiBank's fees with two similar brokers we selected, Admirals (Admiral Markets) and AvaTrade. These competitors were selected based on objective factors like products offered, client profile, fee structure, etc. See a more detailed comparison of MultiBank alternatives.

Low FX fees

MultiBank charges a forex commmission: $3.00 commission per lot per trade. Spread costs come on top of this, e.g. the EUR/USD spread is 0.6.

Broker
EURUSD spread
FX commission per lot
MultiBank
0.6
$3.00 commission per lot per trade
Admirals (Admiral Markets)
0.1
$3.00 commission per lot per trade
AvaTrade
0.9
No commission is charged
MultiBank forex spreads and commissions

The commission charged for ECN Pro account users is $3 per lot per trade in the case of forex trades.
Multibank beats its nearest competitors when it comes to trading costs for AUDUSD and USDCAD pairs. Fees for other popular pairs such as GBPUSD or EURUSD are closer to the market average but still competitive.

Low index CFD fees

All index CFD fees are built into the spread. The spread for S&P 500 index CFDs is 0.3.

Broker
S&P 500 CFD spread
MultiBank
0.3
Admirals (Admiral Markets)
0.4
AvaTrade
0.5
MultiBank index CFD spreads and commissions

Low stock CFD fees

All stock CFD fees are built into the spread. The spread for Apple stock CFDs is 0.1.

Broker
Apple CFD
MultiBank
$0.3
Admirals (Admiral Markets)
$1.1
AvaTrade
$1.2
MultiBank stock CFD spreads and commissions

High inactivity fee, no withdrawal fee

MultiBank does not charge account maintenance and withdrawal fees. However, a $60 quarterly fee is charged after 3 consecutive months of inactivity, which is considered quite high.

Broker
Inactivity fee
Withdrawal fee
MultiBank
$0
Admirals (Admiral Markets)
$0
AvaTrade
$0
MultiBank inactivity, withdrawal and other fees

Safety

MultiBank is a global broker regulated by several financial authorities, including the top-tier ASIC and BaFin.
  • Majority of clients belong to a top-tier financial authority
  • Negative balance protection
Read more

Deposit and withdrawal

Score: 4.4/5
Deposit and withdrawal at MultiBank are great. You can use many deposit and withdrawal types and withdrawal is free.
  • Credit/Debit card available
  • Free withdrawal
  • No deposit fee
  • Electronic wallets available
  • Crypto wallet deposit available.
Read more

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.
  • Fast
  • Fully digital
  • Low minimum deposit
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Mobile app

Score: 4.3/5
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.
  • User-friendly
  • Good search function
  • Price alerts
Read more

Desktop 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.
  • Clear fee report
  • Good customizability (for charts, workspace)
  • Price alerts
Read more

Product selection

Score: 2.3/5
At MultiBank, you can trade only forex and CFDs, including stock and stock index CFDs as well as cryptos.
Read more
“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.”

FAQ

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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.

author image
Adam Nasli
Author of this review
I bring extensive financial expertise as one of BrokerChooser's earliest team members. Personally, I tested nearly all 100+ brokers on our site, opening real-money accounts, executing trades, assessing customer services, and providing firsthand assessment. My professional background includes roles in the banking sector and a degree from Central European University, where I teach finance. My passions lies in in-depth research of the financial industry, building trading algorithms, and managing long-term investments.
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