MultiBank Logo
Written by: Ádám N. Updated: Dec 2022
Expert verified
Recommended for
  • forex trading
Trusted broker
Regulated by top tier financial authorities
Popularity
2074 people chose this broker in the last 6 months
BrokerChooser Score
4.3/5

MultiBank review summary

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 they have inactivity fee, 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 4.3/5 rating based on analyzing 500+ criteria and testing via opening a live account.

MultiBank is a regulated broker, it is overseen by top-tier financial regulators in multiple countries . MultiBank is also covered by investor protection in selected jurisdictions. We at BrokerChooser always test brokers with real money, including the withdrawal process.

You can't open an account at MultiBank if you live in United States. See the best alternative available in your country.

MultiBank pros and cons

Pros Cons
Quick and easy account opening Inactivity fees
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 Low
💰 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 7
🎮 Demo account provided Yes
🛍️ Products offered Forex, CFD, Crypto

MultiBank review
Fees

3.3
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

5.0
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

4.5
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

3.8
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

3.8
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

3.4
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

2.1
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

3.5
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

5.0
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

1.5
MultiBank scores poorly on the education front, offering a demo account but no other learning materials.
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MultiBank review
Safety

MultiBank is a global broker regulated by several financial authorities, including the top-tier ASIC and BaFin.
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MultiBank review
Bottom line

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MultiBank review
FAQ

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Author of this review

Ádám Nasli

Author of this review

Ádám worked in banking and investment, and holds a professional degree in this field. He is a motivated finance expert, having joined BrokerChooser in 2018. He's also eager to help people find the best investment provider for them, and to make the investment sector as transparent as possible. In his spare time, he loves learning new things, especially data science, algo-trading, programming and trading.

Ádám Nasli

Analyst head

Ádám worked in banking and investment, and holds a professional degree in this field. He is a motivated finance expert, having joined BrokerChooser in 2018. He's also eager to help people find the best investment provider for them, and to make the investment sector as transparent as possible. In his spare time, he loves learning new things, especially data science, algo-trading, programming and trading.

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

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74-89% of retail CFD accounts lose money

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