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.
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
|
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
- Low forex fees
- No withdrawal fee
- Inactivity fee
- inactivity fee
MultiBank review
Fees
MultiBank review
Account opening
MultiBank review
Deposit and withdrawal
MultiBank review
Web trading platform
MultiBank review
Mobile trading platform
MultiBank review
Desktop trading platform
MultiBank review
Markets and products
MultiBank review
Research
MultiBank review
Customer service
MultiBank review
Education
MultiBank review
Safety
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.
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