Is MultiBank free?
Disclaimer: 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
MultiBank does not provide access to real stock trading on US markets. If you are looking for a zero-commission broker to trade on US stock exchanges, you can check our article detailing the best apps offered in this category of brokers. If you wish to stick with MultiBank though, then you will find the fees they charge below.
MultiBank fees
Overview of MultiBank fees and charges
When it comes to brokerage fees, MultiBank is a mixed bag. To see how they may affect you, first you need to figure out your approach to trading - i.e. whether you are more of a buy-and-hold investor or if you want to trade frequently; or what type of assets and in what volumes you'll want to trade. Alternatively, use our questionnaire to help you tell whether MultiBank fees are beneficial for you. Continue reading about MultiBank fees and charges to see if this is the right broker for you, or if a similar broker like Admirals (Admiral Markets) or AvaTrade might suit you better.
Here's a high-level overview of MultiBank's fees
| Assets | Fee level | Fee terms |
|---|---|---|
| US stock fee | - | Not available |
| EURUSD fee | Low | ECN account: $3.00 commission per lot per trade plus spread cost. 0.1 pips is the average spread cost during peak trading hours. |
| US mutual fund fees | - | Not available |
| Inactivity fee | High | $10 per calendar month after 13 consecutive months of inactivity |
MultiBank fees
MultiBank fees explained
Online brokerages in general charge much lower brokerage fees than traditional brokerages do - this is largely because online brokerages' businesses can be much better scaled: from a purely technical standpoint, it doesn't make that much of a difference for them if they have 100 or 5,000 clients.
This is not to say, however, that they don't charge any fees at all. They make money by charging you various rates for various actions or events. Usually you need to keep an eye on the following three types of fees:
- Trading fees - these are brokerage fees that you pay when you actually carry out a trade, like buying an Apple share or an ETF. What you pay is either a commission, a spread or a financing rate. Some brokers apply all of these.
- A commission is either fixed or based on the traded volume.
- A spread is the difference between the buy price and the sell price.
- A financing rate or overnight rate is charged when you hold your leveraged positions for more than one day.
- Non-trading fees. These are usually related to some operations you carry out in your account, such as depositing money, withdrawing money, or not trading for an extended period.
We compare MultiBank fees with its closest competitors, Admirals (Admiral Markets) and AvaTrade.
MultiBank fees
MultiBank trading fees
MultiBank's trading fees are mixed, which means that some asset classes come with high trading fees - be sure to check these carefully.
Let's break down trading fees according to the different asset classes available at MultiBank.
Trading fees
MultiBank's trading fees are average.
Forex fees
MultiBank's forex fees are low.
| MultiBank | Admirals (Admiral Markets) | AvaTrade | |
|---|---|---|---|
| EURUSD benchmark fee | $13.6 | $15.1 | $16.4 |
| EURGBP benchmark fee | $11.0 | $15.7 | $15.5 |
CFD fees
MultiBank has low CFD trading fees.
| MultiBank | Admirals (Admiral Markets) | AvaTrade | |
|---|---|---|---|
| Apple CFD | $0.1 | $1.1 | $1.6 |
| Vodafone CFD | $0.4 | $4.9 | $2.6 |
| Germany | - | - | $3.2 |
Currency conversion fee
MultiBank will charge a Currency Conversion Fee for all trades on instruments denominated in a currency different to the currency of your account. The fee is charged as the following: Exchange rate received from liquidity providers plus a mark-up. We used the EURUSD trading fees for the calculation..
MultiBank fees
MultiBank non-trading fees
When it comes to non-trading fees, MultiBank is a rather cheap broker.
Non-trading fees include various brokerage fees and charges at MultiBank that are not related to buying or selling assets. This can be a withdrawal fee, deposit fee, inactivity fee or account fee.
| MultiBank | Admirals (Admiral Markets) | AvaTrade | |
|---|---|---|---|
| Withdrawal fee | $0 | $0 | $0 |
| Deposit fee | $0 | $0 | $0 |
| Inactivity fee | Yes | Yes | Yes |
| Account fee | No | No | No |
MultiBank fees
MultiBank deposit fee
Usually, brokers don't charge anything for deposits, and MultiBank is no different.
| MultiBank | Admirals (Admiral Markets) | AvaTrade | |
|---|---|---|---|
| Bank transfer | Yes | Yes | Yes |
| Credit/debit card | Yes | Yes | Yes |
| Electronic wallets | Yes | Yes | Yes |
| Deposit fee | $0 | $0 | $0 |
MultiBank fees
MultiBank withdrawal fee
MultiBank generally doesn't charge a withdrawal fee.
| MultiBank | Admirals (Admiral Markets) | AvaTrade | |
|---|---|---|---|
| Bank transfer | Yes | Yes | Yes |
| Credit/debit card | Yes | Yes | Yes |
| Electronic wallets | Yes | Yes | Yes |
| Withdrawal fee for bank transfer | $0 | $0 | $0 |
MultiBank fees
MultiBank inactivity fee
MultiBank does apply an inactivity fee and it is $10 per calendar month after 13 consecutive months of inactivity . Keep this in mind to avoid getting charged after a longer idle period. The fact that MultiBank charges an inactivity fee makes it less ideal for you if you are a buy-and-hold investor.
The inactivity fee charged by MultiBank is high.
| MultiBank | Admirals (Admiral Markets) | AvaTrade | |
|---|---|---|---|
| Inactivity fee | Yes | Yes | Yes |
| Inactivity fee | $10 per calendar month after 13 consecutive months of inactivity | €10 per month after 2 years of inactivity. Only charged if your account balance is greater than zero | $50 per quarter after 3 months of inactivity; after 12 straight months of non-use, a further annual administration fee of $100 is charged |
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