Is MultiBank free?
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.
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 HYCM 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 pricing: $3 commission per lot per trade for accounts with less than $20,000 balance. There is also a spread cost; 0.1 pips is the average spread cost during peak trading hours.|
|US mutual fund fees||-||Not available|
|Inactivity fee||High||$60 per quarter after 3 months of inactivity|
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, HYCM and AvaTrade.
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MultiBank trading fees
MultiBank's trading fees are low, which makes it suitable for you even if you trade often (i.e. several times a week).
Let's break down trading fees according to the different asset classes available at MultiBank.
MultiBank's trading fees are average.
MultiBank's forex fees are low.
|EURUSD benchmark fee||$6.6||$7.1||$10.3|
|EURGBP benchmark fee||$7.3||$11.5||$12.1|
MultiBank has high CFD trading fees.
MultiBank non-trading fees
Some of MultiBank's non-trading fees are average.
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 deposit fee
Usually, brokers don't charge anything for deposits, and MultiBank is no different.
MultiBank withdrawal fee
MultiBank generally doesn't charge a withdrawal fee.
|Withdrawal fee for bank transfer||$0||$0||$0|
MultiBank inactivity fee
MultiBank does apply an inactivity fee and it is $60 per quarter after 3 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.
|Inactivity fee||$60 per quarter after 3 months of inactivity||$10 each month after 90 days of inactivity||$50 per quarter after 3 months of inactivity; after 12 straight months of non-use, a futher annual administration fee of $100 applies|