Summary
Recommended for forex and CFD traders familiar with the MetaTrader trading platform
MultiBank is a global CFD and FX broker. MultiBank Group is a global financial group that includes companies from asset management to brokerage. MultiBank's brokerage service is operating under several legal entities regulated by Australian ASIC and other financial regulators. In this review, we use MultiBank as a name for the brokerage service.
MultiBank is considered safe because it is regulated by the top-tier ASIC and has a long history, dating back to 2005.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
MultiBank pros and cons
MultiBank's account opening is seamless and fast. From bank transfers to electronic wallets, you have many options for deposit and withdrawal and they are free of charge. Customer service gives fast and relevant answers.
The stock CFD and inactivity fees are high. Moreover, the product portfolio covers only forex, CFD, and crypto asset classes. The research and educational tools are very basic too.
Pros | Cons |
---|---|
• Fast and easy account opening | • High stock CFD and inactivity fee |
• Free and multiple deposit and withdrawal options | • Limited product coverage |
• Fast and relevant customer service | • Basic research and educational tools |
🗺️ Country of regulation | Australia, UAE, B.V.I. |
💰 Trading fees class | Average |
💰 Inactivity fee charged | Yes |
💰 Withdrawal fee amount | $0 |
💰 Minimum deposit | $50 |
🕖 Time to open an account | 1 day |
💳 Deposit with bank card | Available |
👛 Depositing with electronic wallet | Available |
💱 Number of base currencies supported | 8 |
🎮 Demo account provided | Yes |
🛍️ Products offered | Forex, CFD, Crypto |
MultiBank review
Fees
or
MultiBank does not charge any withdrawal fees and has low forex fees. On the other hand, the stock CFD and inactivity fees are high.
Pros | Cons |
---|---|
• Low forex fees | • High inactivity fee |
• No withdrawal fee | • High stock CFD fees |
Assets | Fee level | Fee terms |
---|---|---|
S&P 500 CFD | Average | The fees are built into the spread, 0.4 points is the average spread cost during peak trading hours. |
Europe 50 CFD | - | Not available |
EURUSD | Low | ECN account pricing: $3 per lot per trade commission for accounts less than $20,000 balance. There is also a spread cost; 0.1 pips is the average spread cost during peak trading hours. |
Inactivity fee | High | $60 per quarter after 3 months of inactivity |
How we ranked fees
We ranked MultiBank's fee levels as low, average or high based on how they compare to those of all reviewed brokers.
To get things rolling, let's go over some lingo related to broker fees. What you need to keep an eye on are trading fees, and non-trading fees.
- Trading fees occur when you trade. These can be commissions, spreads, financing rates and conversion fees.
- Non-trading fees include charges not directly related to trading, like withdrawal fees or inactivity fees.
In the sections below, you will find the most relevant fees of MultiBank for each asset class. For example, in the case of forex and stock index trading, spreads, commissions and financing rates are the most important fees.
We also compared MultiBank's fees with those of two similar brokers we selected, XM and XTB. This selection is based on objective factors such as products offered, client profile, fee structure, etc. See a more detailed rundown of MultiBank alternatives.
To have a clear overview of MultiBank, let's start with the trading fees.
MultiBank trading fees
MultiBank trading fees are average.
MultiBank offers three account types:
- ECN Pro
- MultiBank Pro
- Maximus
The fee structure differs from account type to account type. In this review, we tested the ECN Pro account and analysed its fees. ECN Pro charges a commission, but the spreads are tighter. If you choose MultiBank Pro or Maximus account types, you will be charged only by the spread costs.
The fee structure is not transparent at all. On the website, you can find only the spreads for each account types, but there is no information about the commissions. We had to collect this information by contacting the customer service.
We know it's hard to compare trading fees for CFD brokers. So how did we approach the problem of making their fees clear and comparable? We compare brokers by calculating all the fees of a typical trade for selected products.
We have chosen popular instruments within each asset class:
- Stock index CFDs: SPX and EUSTX50
- Stock CFDs: Apple and Vodafone
- Forex: EURUSD, GBPUSD, AUDUSD, EURCHF and EURGBP
A typical trade means buying a leveraged position, holding it for one week and then selling. For the volume, we chose a $2,000 position for the stock index and stock CFDs and $20,000 for the forex transactions. The leverage we used is:
- 20:1 for stock index CFDs
- 5:1 for stock CFDs
- 30:1 for forex
These catch-all benchmark fees include spreads, commissions and financing costs for all brokers. Let's see the verdict for MultiBank fees.
CFD fees
MultiBank has average stock index CFD and high stock CFD fees.
MultiBank | XM | XTB | |
---|---|---|---|
S&P 500 index CFD fee | $1.3 | $1.6 | $1.4 |
Europe 50 index CFD fee | - | $2.4 | $1.8 |
Apple CFD fee | $51.5 | $6.4 | $17.3 |
Vodafone CFD fee | $53.0 | $1.2 | $20.8 |
The commission for ECN Pro is $3 per share charged only for opening the position for stock CFDs, the closing is free.
Forex fees
MultiBank forex fees are low.
The commission charged for ECN Pro is $3 per lot per trade for forex.
Multibank is the most competitive among the compared brokers for AUDUSD and EURGBP pairs. On the flip side, trading the EURUSD and GPBUSD pairs is costly at Multibank.
MultiBank | XM | XTB | |
---|---|---|---|
EURUSD benchmark fee | $6.6 | $9.5 | $8.3 |
GBPUSD benchmark fee | $5.9 | $8.4 | $6.0 |
AUDUSD benchmark fee | $7.4 | $10.3 | $6.5 |
EURCHF benchmark fee | $5.3 | $9.7 | $8.9 |
EURGBP benchmark fee | $7.3 | $10.5 | $8.4 |
Non-trading fees
MultiBank has average non-trading fees.
MultiBank does not charge account maintenance and withdrawal fees. A quarterly $60 fee will be applicable after 3 consecutive months of inactivity, which is quite high.
MultiBank | XM | XTB | |
---|---|---|---|
Account fee | No | No | No |
Inactivity fee | Yes | Yes | Yes |
Deposit fee | $0 | $0 | $0 |
Withdrawal fee | $0 | $0 | $0 |
MultiBank review
Account opening
or
The account opening procedure with Multibank is easy and straightforward. The account is ready for trading within a day.
Pros | Cons |
---|---|
• Fast | • High minimum deposit for ECN Pro and MultiBank Pro accounts |
• Fully digital | |
• Low minimum deposit |
Can you open an account?
MultiBank accepts customers from all over the world. There are only a few notable exceptions. For example, you can't open an account if you are from the US or Hong Kong.
Minimum deposit
The required minimum deposit ranges between $50 and $5,000 depending on the account you choose.
Account Types
There are three account types available, the ECN Pro, the MultiBank Pro and Maximus. They differ in the pricing and the minimum deposit.
ECN Pro | Multibank pro | Maximus | |
---|---|---|---|
Commission | Yes | No | No |
Spread | Tighter spreads | Average spreads | Wider spreads |
Minimum deposit | $5,000 | $1,000 | $50 |
In this review, we tested the ECN Pro account.
MultiBank offers the following accounts based on account ownership:
- Individual account - account is owned by an individual
- Joint account - account is owned by two or more individuals
- Corporate account - account is owned by a legal entity
It's also great that MultiBank offers Islamic accounts that comply with the Shariah.
How to open your account
MultiBank account opening is seamless and straightforward. You can fill out the forms, scan and submit all your documents within 20 minutes. The entire process is fully digital.
4 steps to open an account with MultiBank:
- Select the regulator you wish to belong
- Choose your account type
- Add personal information, like your email address or country of residency
- Verify your identity and your residency

MultiBank review
Deposit and withdrawal
or
Deposit and withdrawal at MultiBank are great. You can use many deposit and withdrawal types and withdrawal is free.
Pros | Cons |
---|---|
• Credit/Debit card available | None |
• Free withdrawal | |
• No deposit fee |
Account base currencies
At MultiBank, you can choose from 8 base currencies. The available base currencies are USD, GBP, EUR, JPY, CHF, AUD, NZD, CAD.
MultiBank is offering more account base currencies than their main competitors.
MultiBank | XM | XTB | |
---|---|---|---|
Number of base currencies | 8 | 7 | 4 |
By default, your account will be set in USD. You can change this setup through Customer Service. It would be better if you could select your account base currency at the beginning of your account opening.
It's great that you can open more sub-accounts and the sub-accounts can have different base currencies.
A convenient way to save on the currency conversion fees is by opening a multi-currency bank account. Revolut or Transferwise both offer bank accounts in several currencies with great currency exchange rates as well as free or cheap international bank transfers. The account opening only takes few minutes on your phone.
Deposit fees and options
The deposit at MultiBank is free of charge. Besides bank transfer, you can use credit/debit cards and any of the following electronic wallets:
- Skrill
- Neteller
- PayTrust
- PerfectMoney
- Help2pay
- Ngang Luong
- Payment Asia
MultiBank | XM | XTB | |
---|---|---|---|
Bank transfer | Yes | Yes | Yes |
Credit/Debit card | Yes | Yes | Yes |
Electronic wallets | Yes | Yes | Yes |
The bank transfer can take few business days, while payment with your credit/debit card is instant.
You can only deposit money from accounts that are in your name.

Withdrawal fees and options
The MultiBank withdrawal fee is free of charge. You can use the same options for withdrawal as for deposit.
MultiBank | XM | XTB | |
---|---|---|---|
Bank Transfer | Yes | Yes | Yes |
Credit/Debit card | Yes | Yes | No |
Electronic wallets | Yes | Yes | No |
Withdrawal fee | $0 | $0 | $0 |
You can only withdraw money to accounts in your name.
How long does it take to withdraw money from MultiBank? We tested the bank transfer withdrawal and it took 1 business day.
How do you withdraw money from MultiBank? You can withdraw money from MultiBank by following these steps:
- Log into MyMultiBank
- Go to the Withdrawal
- Select your trading account
- Give the reason for the withdrawal
- Add the withdrawal amount
- Select your withdrawal method
- Initiate the withdrawal
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MultiBank review
Web trading platform
or
At Multibank you can use the MetaTrader4 trading platform. It is highly customizable, available in a lot of languages, and has a clear fee report. On the negative side, it lacks a two-step login and the design is outdated.
Pros | Cons |
---|---|
• Clear fee report | • No two-step (safer) login |
• Good customizability (for charts, workspace) | • No price alerts |
• Order confirmation | • Poor design |
Trading platform | Score | Available |
---|---|---|
Web | 2.8 stars | Yes |
Mobile | 3.8 stars | Yes |
Desktop | 3.4 stars | Yes |
MultiBank doesn't have its own self-developed trading platform, it uses MetaTrader 4 and MetaTrader 5, a third-party platform. We tested MetaTrader 4 due to its high popularity.
MetaTrader 4 and MetaTrader 5 are available in an exceptionally large number of languages.
Arabic | Bulgarian | Chinese | Croatian | Czech | Danish |
Dutch | English | Estonian | Finnish | French | German |
Greek | Hebrew | Hindi | Hungarian | Indonesian | Italian |
Japanese | Korean | Latvian | Lithuanian | Malay | Mongolian |
Persian | Polish | Portuguese | Romanian | Russian | Serbian |
Slovak | Slovenian | Spanish | Swedish | Tajik | Thai |
Traditional Chinese | Turkish | Ukrainian | Uzbek | Vietnamese |
Look and feel
The MultiBank web trading platform has great customizability. You can easily change the size and the position of the tabs.
However, the platform feels outdated and some features are hard to find. For example, it took some time until we found how to add an asset to the watchlist.

Login and security
MultiBank provides only a one-step login. A two-step authentication would be more secure.
Search functions
The search functions are OK. You can find the assets in categories. However, we missed the usual search function when you can type in the asset's name manually.

Placing orders
You can use the basic order types. You will not find very sophisticated orders like the 'one cancels the other' order. The following order types are available:
- Market
- Limit
- Stop
- Trailing Stop
Trailing Stop is available only in the MT4 desktop platform.
If you are not familiar with order types, read this overview.
There are also order time limits you can use:
- Good 'til canceled (GTC)
- Good 'til time (GTT)

Alerts and notifications
You can't set alerts and notifications on the MultiBank web trading platform. This feature is available only on the desktop trading platform.
Portfolio and fee reports
MultiBank has clear portfolio and fee reports. You can easily see your profit-loss balance and the commissions you paid. These reports can be found under the 'History' tab. We didn't find a way to download them.
MultiBank review
Mobile trading platform
or
MultiBank has a great mobile trading platform, offered by MetaTrader 4. It is well designed and user-friendly. On the flip side, it lacks the safe login.
Pros | Cons |
---|---|
• User-friendly | • No two-step (safer) login |
• Good search function | • No Touch/Face ID login |
• Price alerts | • No order confirmation |
Similarly to the web trading platform, MultiBank offers MetaTrader 4 and MetaTrader 5 as a mobile trading platform. MetaTrader 4 and MetaTrader 5 are available for both iOS and Android. Similarly to the web platform, we tested MetaTrader 4.
After you download the MT4 or MT5 mobile trading platform, you have to access the MEXIntGroup-Real server.
Just like at the web trading platform, you can choose from a lot of languages on the mobile trading platform too. Changing the language is a bit tricky on Android devices. You can do it only if you change the default language of your mobile.
Arabic | Chinese (Simplified) | Chinese(Traditional) | Czech | English |
French | German | Greem | Hindi | Indonesian |
Italian | Japanese | Korean | Polish | Portuguese |
Portuguese (Brazil) | Russian | Spanish | Thai | Turkish |
Ukrainian | Vietnamese |
Look and feel
MultiBank has a great mobile trading platform, we really liked its design and user-friendliness. You will easily find all the features.

Login and security
Similarly to the web trading platform, MultiBank provides only a one-step login. A two-step login would be safer.
You can't use fingerprint or Face ID authentication. Providing this feature would be more convenient.
Search functions
The search functions are good. You can search by typing the name of the product or by navigating the category folders..

Placing orders
You can use the same order types and order time limits as the ones on the web trading platform.

Alerts and notifications
You can set alerts and notifications, although you can do it only on the desktop trading platform. It would be much easier if you could set these notifications on the mobile trading platform.
MultiBank review
Desktop trading platform
or
In design and functionality, MultiBank's MetaTrader 4 or MetaTrader 5 desktop platforms are almost the same as their web trading platform. One major difference is that you can set price alerts on the desktop trading platform.
Pros | Cons |
---|---|
• Clear fee report | • No two-step (safer) login |
• Good customizability (for charts, workspace) | • Poor design |
• Price alerts |
MultiBank offers MetaTrader 4 and MetaTrader 5 as desktop trading platforms. Similarly to the web and mobile trading platforms, we tested MetaTrader 4 in this review.
It has the same design, is available in the same languages, offers the same order types plus Trailing Stop, has the same search functions, and offers the same portfolio and fee reports as the web trading platform.
The major difference is that you can set alerts and notifications in the form of mobile push and email notifications on the desktop trading platform. To set email or mobile notifications, you have to add your email address and mobile MetaQuotes ID (you can find it in the MT4 app's settings). You can add them if you go to 'Tools' and then 'Options.'

MultiBank review
Markets and products
or
At Multibank you can trade only with forex and CFDs. CFDs are provided in several forms, such as stock indexes and cryptos.
MultiBank is a CFD and forex broker. The number of currency pairs and stock index CFDs lags behind their competition. It has an average quantity of stock CFDs and cryptos in its product lineup.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
MultiBank | XM | XTB | |
---|---|---|---|
Currency pairs (#) | 27 | 57 | 49 |
Stock index CFDs (#) | 7 | 18 | 42 |
Stock CFDs (#) | 1,000 | 1,200 | 1,700 |
Commodity CFDs (#) | 6 | 15 | 18 |
Cryptos (#) | 4 | 5 | 25 |
You cannot change leverage levels. This is a drawback.
Changing the leverage is a very useful feature when you want to lower the risk of your trade. For example, instead of trading with 5:1 leverage, only trade with 2:1 leverage in case of stock CFDs. Be careful with forex and CFD trading, as the preset leverage levels are high.
Another inconvenience was that some stock CFDs were not available by default and we had to ask the customer service to add them to the platform.
MultiBank review
Research
or
Multibank has a useful daily newsletter, but the research tools could be better. You can only use the research tools of the MetaTrader 4 platform, but trading ideas, fundamental data, and news are not available. As a plus, you can add research tools, although they are usually not free.
Pros | Cons |
---|---|
• User-friendly | • No trading ideas |
• Useful daily newsletters | • No fundamental data available |
• No/poor quality news flow |
MultiBank doesn't have its own research team, you can only use the MetaTrader 4 trading platform's research tools. Just like the MetaTrader trading platform, the research tools are available in a lot of languages as well. In this review, we tested the research tools available for free, which cover the charting tools.
MultiBank research tools are provided via two channels:
- MT4 and MT5 trading platforms
- Daily newsletters
Trading ideas
MultiBank does not provide any trading ideas.
Fundamental data
MultiBank does not offer fundamental data.
Charting
MultiBank has OK charting tools.
You can use 31 technical indicators and other technical tools, such as trendlines and Fibonacci retracement.
On the other hand, the design is outdated and some features are hard to use. For example, we had difficulty finding how we could remove an indicator from the chart.

News feed
MultiBank doesn't offer news.
Other research tools you will enjoy
MultiBank sends out daily newsletters with main focus on technical and fundamental analysis.
The fundamental analysis newsletter does support your trading activities with an up to date market briefing. The technical analysis newsletter helps to understand the current market trends in major forex pairs, commodities and indices.
MultiBank review
Customer service
or
MultiBank has great customer support. We got quick and relevant responses via email, chat, and phone. On the negative side, they are available only 24/5.
Pros | Cons |
---|---|
• Phone support | • No 24/7 support |
• Live chat | |
• Fast response time |
You can contact MultiBank via:
- live chat
- phone
MultiBank's live chat works well. We got relevant and quick answers for most of our questions. The only negative experience is when we asked about the fees. For these tests, we received sometimes unclear and wrong answers.
MultiBank's phone support is great. The agent was connected within 1 minute and we experienced the helpful approach in solving our problem. For example, we got a clear guide on how to place an order on the platform.
The email support is superb. We received answers within 1 day for all our emails. The answers were helpful and relevant.
It is also great that you can reach the customer support via local phone numbers.

We missed the 24/7 availability. It's not transparent what time and which time zone the customer service is available.
MultiBank review
Education
or
The only tool for education is the demo account.
Pros | Cons |
---|---|
• Demo account | • No trading platform tutorial videos |
• No educational videos |
You have to register through MultiBank's website and confirm your email address, phone number, and country of residence to start the practice trading with the demo account.

MultiBank review
Safety
or
MultiBank is a global broker regulated by more financial authorities, including the top-tier ASIC. On the negative side, you do not get any investor protection.
Pros | Cons |
---|---|
• Majority of clients belong to a top-tier financial authority | • No investor protection |
• Negative balance protection | • Does not hold a banking license |
• Not listed on stock exchange |
Is MultiBank regulated?
Yes, it is regulated by the Australian Securities and Investments Commission (ASIC), Ras Al Khaimah (RAK), B.V.I Financial Services Commission. The regulator depends on the regulation you choose at the account opening.
Is MultiBank safe?
To be certain, we highly advise that you check two facts:
- how you are protected if something goes wrong
- what the background of the broker is
How you are protected
Brand name | Protection amount | Regulator | Legal entity |
---|---|---|---|
MEX Exchange | No protection | Australian Securities and Investment Commission | MEX Australia Pty Ltd |
MEX Clearing | No protection | UAE's Ras Al Khaimah (RAK) | MEX Clearing Ltd |
Multibank FX | No protection | B.V.I Financial Services Commission | Multibank FX International Corporation |
MultiBank provides negative balance protection.
Background
MultiBank was established in 2005. The longer track record a broker has, the more proof we have that it has successfully survived previous financial crises.
MultiBank review
Bottom line
MultiBank is regulated by more financial authorities globally, including the top-tier ASIC.
The account opening is seamless and hassle-free. Multiple and free options are offered for deposit and withdrawal. The customer service is great.
MultiBank has some drawbacks though. The stock CFD and inactivity fees are high. Its product range is limited to FX, CFDs, and cryptos. The research and educational tools are also basic.