The best alternatives to MultiBank are
- XM - Global CFD and forex broker
- XTB - Global CFD and forex broker
- Plus500 - Global CFD and forex broker
- MarketsX - Global CFD and forex broker
Let's see in a bit more detail how the MultiBank alternatives compare to MultiBank and each other:
| MultiBank | XM | XTB | Plus500 | MarketsX | |
|---|---|---|---|---|---|
| Overall score | 3.8 | 4.4 | 4.6 | 4.4 | 3.9 |
| Fees score | 2.6 stars | 3.8 stars | 4.0 stars | 3.6 stars | 2.0 stars |
| Account opening score | 5.0 stars | 5.0 stars | 5.0 stars | 5.0 stars | 5.0 stars |
| Deposit and withdrawal score | 4.5 stars | 5.0 stars | 4.5 stars | 5.0 stars | 4.5 stars |
| Web platform score | 2.8 stars | 2.8 stars | 4.4 stars | 4.4 stars | 3.3 stars |
| Markets and products score | 1.4 stars | 2.9 stars | 2.8 stars | 1.9 stars | 1.8 stars |
|
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74-89% of retail CFD accounts lose money |
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69.10% of retail CFD accounts lose money |
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80% of retail CFD accounts lose money |
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80.5% of retail CFD accounts lose money |
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81.3% of retail CFD accounts lose money |
Why are these brokers considered good alternatives to MultiBank? There are many areas based on which MultiBank can be compared with others. When we say a given online broker is a good alternative to MultiBank we mean these brokers are comparable in the following areas:
- The products they offer, meaning you can buy mostly the same things, i.e. stocks, CFDs, options, etc.
- The type of clients they target, i.e. beginners, experienced investors, or day traders.
MultiBank alternatives recommendations
Brokers are different in a number of ways, which means each of them may be suitable for different people. Here's how they compare overall:
- MultiBank is recommended for forex and cfd traders familiar with the metatrader 4 trading platform
- XM is recommended for forex and cfd traders who prefer metatrader platforms and seek low trading fees
- XTB is recommended for forex and cfd traders looking for low fees and great deposit/withdrawal service
- Plus500 is recommended for experienced traders looking for an easy-to-use platform and a great user experience
- MarketsX is recommended for traders looking to venture into cfd trading
Important factors of finding MultiBank alternatives
So far BrokerChooser has reviewed 63 online brokers in detail, which gives this comparison a solid starting point.
Not only that, but all of these brokers are reviewed using the exact same broker review methodology, which makes everything easily comparable. For each broker, we
- open a live account
- check over 100 criteria, with weighting based on readers' preferences
- refresh data regularly
Whether MultiBank or one of its alternatives is the best choice for you is on the following five broker characteristics that most interest people:
Fees. There are different types of fees that your online brokerage may charge, and both the number and the size of these fees may vary significantly from broker to broker. Both of these aspects can impact your returns and your overall experience. The amounts MultiBank charges you are considered average. When picking an alternative, you could prioritize brokers that are cheaper than MultiBank.
Account opening. To open an account some brokers require at least €50,000 to be invested, while others don't set a minimum first-time deposit. The time it takes to open your account can be very different as well. At MultiBank this is not a problem as you can have it ready on the same day you registered.
Deposit/withdrawal. The number of ways that you can deposit or withdraw money to or from your account matters a lot. For example, while you can make a deposit with a credit card at MultiBank, this might not be the case at its alternatives.
Web trading platform. While online brokers are usually available on various platforms like mobile apps, tablet apps or desktop software, most people use them through their web platform in a browser. User-friendly trading platforms that offer many different resources can significantly increase your trading comfort.
Markets and products. A lot of people have specific products they would like to invest in. Knowing whether stocks, forex, mutual funds, and other products are available at the given MultiBank alternative is a must.
Now let's dive into the details of how MultiBank and its alternatives perform in the most important areas!
I just wanted to give you a big thanks!
MultiBank alternatives
MultiBank
MultiBank is a global CFD and FX broker.
MultiBank Group is a global financial group which 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.
Recommended for forex and cfd traders familiar with the metatrader 4 trading platform
| 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 |
Fees
MultiBank does not charge any withdrawal fees and has low stock index CFD fees. On the other hand, the stock CFD and inactivity fees are high.
| Pros | Cons |
|---|---|
| • No withdrawal fee | • High inactivity fee |
| • Low stock index CFD fees | • High stock CFD fees |
| MultiBank | XM | XTB | Plus500 | MarketsX | |
|---|---|---|---|---|---|
| S&P 500 index CFD fee | $2.0 | $2.4 | $2.0 | $2.1 | $2.6 |
| Europe 50 index CFD fee | - | $2.4 | $2.2 | $1.9 | $2.5 |
| EURUSD benchmark fee | $19.3 | $17.1 | $15.0 | $18.1 | $24.5 |
| GBPUSD benchmark fee | $17.8 | $13.8 | $11.1 | $13.7 | $25.0 |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stock and $20k for FX
Account opening
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 |
| MultiBank | XM | XTB | Plus500 | MarketsX | |
|---|---|---|---|---|---|
| Minimum deposit | $50 | $5 | $250 | $100 | $250 |
| Time to open account | 1 day | 1 day | 1 day | 1 day | 1 day |
Learn more about MultiBank minimum deposit here.
Deposit and withdrawal
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 |
| MultiBank | XM | XTB | Plus500 | MarketsX | |
|---|---|---|---|---|---|
| Bank Transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/Debit card | Yes | Yes | No | Yes | Yes |
| Electronic wallets | Yes | Yes | No | Yes | Yes |
| Withdrawal fee | $0 | $0 | $0 | $0 | $0 |
Web trading platform
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 |
| MultiBank | XM | XTB | Plus500 | MarketsX | |
|---|---|---|---|---|---|
| Web platform score | 2.8 stars | 2.8 stars | 4.4 stars | 4.4 stars | 3.3 stars |
| Mobile platform score | 3.8 stars | 3.8 stars | 4.3 stars | 4.9 stars | 3.8 stars |
| Desktop platform score | 3.3 stars | 3.3 stars | 4.4 stars | - | - |
Learn more about MultiBank's web trading platform in the detailed MultiBank review.
Markets and products
At Multibank you can trade only with forex and CFDs. CFDs are provided in several forms, such as stock indexes and cryptos.
| MultiBank | XM | XTB | Plus500 | MarketsX | |
|---|---|---|---|---|---|
| Stock | No | Yes | Yes | No | No |
| ETF | No | No | Yes | No | No |
| Forex | Yes | Yes | Yes | Yes | Yes |
| Fund | No | No | No | No | No |
| Bond | No | No | No | No | No |
| Options | No | No | No | No | No |
| Futures | No | No | No | No | No |
| CFD | Yes | Yes | Yes | Yes | Yes |
| Crypto | Yes | Yes | Yes | Yes | Yes |
Verdict
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.
| MultiBank | |
|---|---|
| Summary | MultiBank is an international CFD and forex broker, regulated by several financial authorities such as the top-tier ASIC of Australia. |
| Fees score | 2.6 stars |
| Recommended for | Forex and CFD traders familiar with the MetaTrader 4 trading platform |
MultiBank alternatives
XM
Trading Point Holding, XM's parent company, is a global CFD and FX broker founded in 2009. Trading Point Holding has two brands, XM and Trading.com.
XM is available globally and is regulated by three financial authorities: the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC), and the International Financial Services Commission of Belize (IFSC).
Trading.com was launched in 2019 and is available only for EEA residents, except those living in Belgium, Cyprus, Greece and Switzerland. Trading.com is regulated by the UK's Financial Conduct Authority (FCA).
In this review, we focus on the XM brand.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69.10% 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. Risk warnings are shown on the website but they are unclear on percentages
Recommended for forex and cfd traders who prefer metatrader platforms and seek low trading fees
| Pros | Cons |
|---|---|
| • Low CFD and withdrawal fees | • Only CFDs, forex, cryptos for Europeans |
| • Easy and fast account opening | • Average forex fees |
| • Great educational tools | • Inactivity fee |
Fees
XM has low trading fees for CFDs and charges no withdrawal fee. On the other hand, forex fees are average, and there is a fee for inactivity.
| Pros | Cons |
|---|---|
| • Low CFD fees | • Inactivity fee |
| • No withdrawal fee | • Average FX fees |
| XM | MultiBank | |
|---|---|---|
| Apple benchmark fee | $3.4 | $28.1 |
| Vodafone benchmark fee | $5.6 | $40.2 |
| EURUSD benchmark fee | $17.1 | $19.3 |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX
Account opening
XM account opening is hassle-free and straightforward. Your account is ready for trading on the same day.
| Pros | Cons |
|---|---|
| • Fast | None |
| • Fully digital | |
| • Low minimum deposit |
| XM | MultiBank | |
|---|---|---|
| Minimum deposit | $5 | $50 |
| Time to open account | 1 day | 1 day |
If you are interested more in XM minimum deposit, this overview will help you.
Deposit and withdrawal
XM's deposit and withdrawal functions are fast and inexpensive, and offer you several options.
| Pros | Cons |
|---|---|
| • Credit/Debit card available | None |
| • Free withdrawal | |
| • No deposit fee | |
| • Free wire withdrawal above $200 |
| XM | MultiBank | |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit/Debit card | Yes | Yes |
| Electronic wallets | Yes | Yes |
| Withdrawal fee | $0 | $0 |
Web trading platform
XM's web trading platform is provided by MetaTrader. It is highly customizable and has a clear fee report. On the other hand, the platform lacks price alerts, and the design is outdated.
| Pros | Cons |
|---|---|
| • Clear fee report | • No price alerts |
| • Good customizability (for charts, workspace) | • Outdated design |
| XM | MultiBank | |
|---|---|---|
| Web platform score | 2.8 stars | 2.8 stars |
| Mobile platform score | 3.8 stars | 3.8 stars |
| Desktop platform score | 3.3 stars | 3.3 stars |
Learn more about XM's web trading platform in the detailed XM review.
Markets and products
At XM, you can trade CFDs, forex and cryptos; non-European clients can also trade some real stocks. There are no ETFs, mutual funds, bonds, options or futures.
| XM | MultiBank | |
|---|---|---|
| Stock | Yes | No |
| ETF | No | No |
| Forex | Yes | Yes |
| Fund | No | No |
| Bond | No | No |
| Options | No | No |
| Futures | No | No |
| CFD | Yes | Yes |
| Crypto | Yes | Yes |
Verdict
XM is regulated by several authorities globally, including the top-tier ASIC.
On the plus side, we liked the low CFD and withdrawal fees. The account opening process is seamless and hassle-free. There is a wide range of educational tools of great quality.
XM has some drawbacks though. Its product range is limited to FX, CFDs and cryptos, with stock trading only available for non-European users. Its forex fees are average, and a monthly $5 fee is charged after three months of inactivity.
We recommend XM for those who are interested in CFD and forex trading and prefer MetaTrader trading platforms. Feel free to test it via the demo account.
| XM | |
|---|---|
| Summary | XM is a global forex and CFD broker regulated by Australia's ASIC, CySEC of Cyprus, and Belizean authority IFSC. |
| Fees score | 3.8 stars |
| Recommended for | Forex and CFD traders who prefer MetaTrader platforms and seek low trading fees |
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MultiBank alternatives
XTB
XTB is a global CFD and forex broker with headquarters in London and Warsaw. The company is regulated by several financial authorities worldwide, including the UK's Financial Conduct Authority (FCA) and the Polish Financial Supervision Authority (KNF). XTB is listed on the Warsaw Stock Exchange.
XTB is considered safe because it is regulated by at least one top-tier financial authority, the FCA, and is listed on a stock exchange.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80% 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.
Recommended for forex and cfd traders looking for low fees and great deposit/withdrawal service
| Pros | Cons |
|---|---|
| • Low forex and stock index CFD fees | • High fee for stock CFD |
| • Free and fast deposit and withdrawal | • Limited product portfolio, mostly CFD and FX |
| • Easy and fast account opening | • Poor email support |
Fees
XTB has low trading fees and low non-trading fees. Within trading fees, there are low fees for forex and stock index CFDs. On the other hand, stock CFD fees are high.
| Pros | Cons |
|---|---|
| • Low trading fees | • High stock CFD fees |
| • Low non-trading fees | |
| • No withdrawal fee |
| XTB | MultiBank | |
|---|---|---|
| Apple benchmark fee | $17.9 | $28.1 |
| Vodafone benchmark fee | $20.9 | $40.2 |
| EURUSD benchmark fee | $15.0 | $19.3 |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX
Account opening
XTB's account opening process is hassle-free, fully digital and straightforward. Your account will be ready for trading on the same day.
| Pros | Cons |
|---|---|
| • Fast | None |
| • Fully digital | |
| • Low minimum deposit |
| XTB | MultiBank | |
|---|---|---|
| Minimum deposit | $250 | $50 |
| Time to open account | 1 day | 1 day |
If you are interested more in XTB minimum deposit, this overview will help you.
Deposit and withdrawal
XTB deposits and withdrawals are cost-friendly, fast, and can be done in several forms.
| Pros | Cons |
|---|---|
| • Credit/Debit card available | None |
| • Free withdrawal | |
| • No deposit fee |
| XTB | MultiBank | |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit/Debit card | No | Yes |
| Electronic wallets | No | Yes |
| Withdrawal fee | $0 | $0 |
Web trading platform
XTB's xStation 5 platform is user-friendly, can be customized and has a good search function. On the other hand, a two-step login is not available.
| Pros | Cons |
|---|---|
| • User-friendly | • No two-step (safer) login |
| • Clear fee report | |
| • Good search function |
| XTB | MultiBank | |
|---|---|---|
| Web platform score | 4.4 stars | 2.8 stars |
| Mobile platform score | 4.3 stars | 3.8 stars |
| Desktop platform score | 4.4 stars | 3.3 stars |
Learn more about XTB's web trading platform in the detailed XTB review.
Markets and products
XTB's product selection covers only CFDs, forex and crypto assets. Some European clients can also trade with real stocks and ETFs. Popular asset classes like bonds, mutual funds, options and futures are not available.
| XTB | MultiBank | |
|---|---|---|
| Stock | Yes | No |
| ETF | Yes | No |
| Forex | Yes | Yes |
| Fund | No | No |
| Bond | No | No |
| Options | No | No |
| Futures | No | No |
| CFD | Yes | Yes |
| Crypto | Yes | Yes |
Verdict
XTB is a great CFD and forex broker. It is regulated by several financial authorities globally, including the UK's FCA, and it is listed on the Warsaw Stock Exchange.
On the plus side, its forex and stock index CFD fees are low and the deposit and withdrawal process is free and fast. We also liked the seamless and hassle-free account opening process.
XTB has some drawbacks, though. The stock CFD fees are high. The product range is mainly limited to FX and CFDs, although real stock and ETF trading are available in some European countries. Lastly, its email support did not reply to our queries.
We recommend XTB for clients who prefer forex or CFD trading, and also want to enjoy great deposit and withdrawal options and a fast account opening. Feel free to test it using a demo account.
| XTB | |
|---|---|
| Summary | XTB is a global CFD and forex broker, listed on the Warsaw Stock Exchange and regulated by financial authorities including the UK FCA and Poland's KNF. |
| Fees score | 4.0 stars |
| Recommended for | Forex and CFD traders looking for low fees and great deposit/withdrawal service |
MultiBank alternatives
Plus500
Plus500 is a London Stock Exchange-listed Global CFD and forex broker that was founded in 2008 in Israel. It is regulated by several international financial authorities, including top-tier ones like the UK's Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC).
Plus500 is considered safe because it is listed on a stock exchange, discloses its financials and is regulated by several top-tier financial authorities.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80.5% 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.
Disclaimer for daytraders: At Plus500, scalping is defined as "A trading strategy where a significant portion of the customer's positions are opened and closed by him/her within 2 minutes." If Plus500 believes you were following this strategy, your account might be blocked and closed. Therefore, if you plan to execute trades within 2 minutes, Plus500 is not your broker.
Recommended for experienced traders looking for an easy-to-use platform and a great user experience
| Pros | Cons |
|---|---|
| • Easy-to-use platform | • Limited product portfolio, only CFDs & forex |
| • Low trading fees | • Minimal research tools |
| • Listed on the London Stock Exchange | • Mid-range educational section |
Fees
Plus500 has low trading fees and average non-trading fees. Even if they have an inactivity fee, it is applied only if you are not logging in at all.
| Pros | Cons |
|---|---|
| • Low trading fees | • Inactivity fee |
| • No withdrawal fee |
| Plus500 | MultiBank | |
|---|---|---|
| Apple benchmark fee | $8.8 | $28.1 |
| Vodafone benchmark fee | $7.6 | $40.2 |
| EURUSD benchmark fee | $18.1 | $19.3 |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX
Account opening
Plus500 account opening is seamless, fast and fully digital. You can open your trading account within a day.
| Pros | Cons |
|---|---|
| • Fast | None |
| • Fully digital | |
| • Low minimum deposit |
| Plus500 | MultiBank | |
|---|---|---|
| Minimum deposit | $100 | $50 |
| Time to open account | 1 day | 1 day |
If you are interested more in Plus500 minimum deposit, this overview will help you.
Deposit and withdrawal
Plus500's deposit and withdrawal services are both great. You have many options, the process is simple and usually free of charge.
| Pros | Cons |
|---|---|
| • Credit/Debit card available | None |
| • No deposit fee | |
| • Five withdrawals per month free |
| Plus500 | MultiBank | |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit/Debit card | Yes | Yes |
| Electronic wallets | Yes | Yes |
| Withdrawal fee | $0 | $0 |
Web trading platform
The Plus500 trading platform is very easy to use and also looks great. On the negative side, it cannot be customized.
| Pros | Cons |
|---|---|
| • User-friendly | • Limited customizability (for charts, workspace) |
| • Clear fee report | |
| • Two-step (safer) login |
| Plus500 | MultiBank | |
|---|---|---|
| Web platform score | 4.4 stars | 2.8 stars |
| Mobile platform score | 4.9 stars | 3.8 stars |
| Desktop platform score | - | 3.3 stars |
Learn more about Plus500's web trading platform in the detailed Plus500 review.
Markets and products
At Plus500 you can trade only with CFDs and forex. There is a wide selection of CFDs and currency pairs to trade with.
| Plus500 | MultiBank | |
|---|---|---|
| Stock | No | No |
| ETF | No | No |
| Forex | Yes | Yes |
| Fund | No | No |
| Bond | No | No |
| Options | No | No |
| Futures | No | No |
| CFD | Yes | Yes |
| Crypto | Yes | Yes |
Verdict
Plus500 is a good CFD and forex broker. It is recommended for traders who are aware of the risks of CFD trading. The broker is regulated by several financial authorities globally, including the UK's FCA, and is listed on the London Stock Exchange. If you are not from the UK, you will most likely be served by Plus500 Cyprus, thus the Cypriot investor protection will apply.
Attention Daytraders! At Plus500 scalping is defined as "a trading strategy where a significant portion of the customer's positions are opened and closed by him/her within 2 minutes." If Plus500 believes you are scalping, your account may be blocked and closed. Therefore, if you plan to execute many trades within 2 minutes, Plus500 is not your broker.
The Plus500 platform is easy to use, with a great user experience, which even first-time users can navigate with ease. Spreads are competitive, but financing rates are quite high. Some more advanced research tools would be useful.
As there is no minimum balance required, no withdrawal fee above $100, and the inactivity fee only kicks in after three months, feel free to give Plus500 a try.
| Plus500 | |
|---|---|
| Summary | Plus500 is a global CFD broker, listed on the London Stock Exchange's Main Market and regulated by many authorities including the UK FCA and CySEC of Cyprus. |
| Fees score | 3.6 stars |
| Recommended for | Experienced traders looking for an easy-to-use platform and a great user experience |
MultiBank alternatives
MarketsX
Markets.com has done a rebranding in 2019 and the new brand for trading is MarketsX.
Markets.com was founded in 2010 and it is a global CFD and FX broker. It is regulated by several financial authorities, like the Cypriot CySEC or the UK FCA.
It is considered safe, because it's regulated by at least one top-tier financial authority.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81.3% 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.
Recommended for traders looking to venture into cfd trading
| Pros | Cons |
|---|---|
| • Free and fast deposit and withdrawal | • High trading fees |
| • Easy and fast account opening | • Limited product portfolio |
| • Great tools for learning and research | • Important features missing on trading platforms |
Fees
MarketsX charges no account, deposit or withdrawal fees and the CFD fees are low, too. On the flip side, financing rates and forex fees are high and inactivity fee can kick in as well.
| Pros | Cons |
|---|---|
| • No withdrawal fee | • High trading fees |
| • Low CFD fees | • High forex fees |
| • High financing rate |
| MarketsX | MultiBank | |
|---|---|---|
| Apple benchmark fee | $6.4 | $28.1 |
| Vodafone benchmark fee | $6.7 | $40.2 |
| EURUSD benchmark fee | $24.5 | $19.3 |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX
Account opening
Account opening at MarketsX is seamless, fast and fully digital. You can open your trading account within a day.
| Pros | Cons |
|---|---|
| • Fast | None |
| • Fully digital | |
| • Low minimum deposit |
| MarketsX | MultiBank | |
|---|---|---|
| Minimum deposit | $250 | $50 |
| Time to open account | 1 day | 1 day |
If you are interested more in MarketsX minimum deposit, this overview will help you.
Deposit and withdrawal
MarketsX provides multiple deposit and withdrawal options free of charge on a user-friendly interface.
| Pros | Cons |
|---|---|
| • Credit/Debit card available | None |
| • Free withdrawal | |
| • No deposit fee |
| MarketsX | MultiBank | |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit/Debit card | Yes | Yes |
| Electronic wallets | Yes | Yes |
| Withdrawal fee | $0 | $0 |
Web trading platform
MarketsX's web trading platform is easy to use, has a clear fee report and good search function. On the other hand, we missed the two-step login, the customizability, and the order confirmation.
| Pros | Cons |
|---|---|
| • User-friendly | • No two-step (safer) login |
| • Clear fee report | • Limited customizability (for charts, workspace) |
| • Good search function | • No order confirmation |
| MarketsX | MultiBank | |
|---|---|---|
| Web platform score | 3.3 stars | 2.8 stars |
| Mobile platform score | 3.8 stars | 3.8 stars |
| Desktop platform score | - | 3.3 stars |
Learn more about MarketsX's web trading platform in the detailed MarketsX review.
Markets and products
MarketsX has a limited product portfolio as you can only trade with CFDs, forex, a couple of cryptos and CFD funds.
| MarketsX | MultiBank | |
|---|---|---|
| Stock | No | No |
| ETF | No | No |
| Forex | Yes | Yes |
| Fund | No | No |
| Bond | No | No |
| Options | No | No |
| Futures | No | No |
| CFD | Yes | Yes |
| Crypto | Yes | Yes |
Verdict
In this review, we tested MarketsX thoroughly and here is the verdict: it is an ok broker, especially if you want to concentrate on CFD trading. The account opening is seamless and fast, it has good research tools and great customer service and it is also regulated by multiple top-tier financial regulators, like the FCA and the ASIC. On the other hand, the trading fees are high and it offers only CFDs and forex. We also missed some important features on the trading platforms like two-step authentication or price alerts on the web.
All in all, it is a good choice. As the account opening is super easy and there is no inactivity fee, feel free to try it.
| MarketsX | |
|---|---|
| Summary | MarketsX is a brand belonging to Markets.com, a global CFD and forex broker regulated by the UK FCA, Australia's ASIC, CySEC in Cyprus, and South Africa's FSCA, among others. It has a UK parent, which is listed on the London Stock Exchange. |
| Fees score | 2.0 stars |
| Recommended for | Traders looking to venture into CFD trading |
MultiBank alternatives
Bottom line
Based on our analysis, there are several good alternatives to MultiBank. They all offer similar products and target similar customers. Here's a recap of the results in a table.
| Broker | Info | Recommended for |
|---|---|---|
| MultiBank | Global CFD and forex broker | Forex and CFD traders familiar with the MetaTrader 4 trading platform |
| XM | Global CFD and forex broker | Forex and CFD traders who prefer MetaTrader platforms and seek low trading fees |
| XTB | Global CFD and forex broker | Forex and CFD traders looking for low fees and great deposit/withdrawal service |
| Plus500 | Global CFD and forex broker | Experienced traders looking for an easy-to-use platform and a great user experience |
| MarketsX | Global CFD and forex broker | Traders looking to venture into CFD trading |
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