Overview of MultiBank fees and charges
When it comes to brokerage fees MultiBank shows a mixed picture: some fees are high but some are low. First you need to figure out your approach or you should use our questionnaire to be able to tell whether MultiBank fees are an advantage for you. Continue reading about MultiBank fees and charges to see if this is the right brokerage for you or a similar broker like Admirals (Admiral Markets) or AvaTrade is better for you.
Here's a high level overview of MultiBank's fees
| Assets | Fee level | Fee terms |
|---|---|---|
| S&P 500 CFD | Low | ECN account pricing: $3 per lot per trade commission for accounts less than $20,000 balance. There is also a spread cost; 0.8 pips is the average spread cost during peak trading hours. |
| Europe 50 CFD | Low | ECN account pricing: $3 per lot per trade commission for accounts less than $20,000 balance. There is also a spread cost; 2.1 pips is the average spread cost during peak trading hours. |
| EURUSD | 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. |
| Inactivity fee | High | $10 per calendar month after 13 consecutive months of inactivity |
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 fees
MultiBank fees explained
We compare MultiBank fees with its closest competitors, Admirals (Admiral Markets) and AvaTrade.
MultiBank fees
MultiBank trading fees
MultiBank's trading fees are mid-tier which means you need to pay special attention to asset classes with high trading fees.
Let's break down the trading fees into the different asset classes available at MultiBank.
Trading fees
MultiBank's trading fees are average.
It is super hard to compare trading fees for CFD brokers. What we did at BrokerChooser? Instead of quoting long fee tables, we compare brokers by calculating all fees of an example trade for three assets.
For the assets we chose cleverly and arbitrarily:
- Apple, a large US stock
- Vodafone, a large European stock
- EURUSD, a popular currency pair
The example in this context would mean buying a position, holding for one week, and selling it. For the volume we chose a $2,000 position for the stocks and $20,000 for the EURUSD.
This super catch-all benchmark includes spreads, commissions and financing costs for all brokers.
Here is the verdict.
| MultiBank | Admirals (Admiral Markets) | AvaTrade | |
|---|---|---|---|
| Apple benchmark fee | $1.5 | $4.6 | $6.6 |
| Vodafone benchmark fee | $2.6 | $12.1 | $8.3 |
| EURUSD benchmark fee | $13.6 | $15.1 | $16.4 |
Financing rates
MultiBank financing rates are low.
If you want to trade on margin and prefer to hold your positions long, financing costs can be significant.
| MultiBank | Admirals (Admiral Markets) | AvaTrade | |
|---|---|---|---|
| Apple CFD financing rate | 3.2% | 6.1% | 9.0% |
| Vodafone CFD financing rate | 4.7% | 6.0% | 8.2% |
| EURUSD financing rate | 3.2% | 3.6% | 3.8% |
| EURGBP financing rate | 2.3% | 3.6% | 3.1% |
Leverage is a double-edged sword and can dramatically amplify your profits. It can also just as dramatically amplify your losses. Trading foreign exchange/CFDs with any level of leverage may not be suitable for all investors.
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 looking at all the non-trading fees MultiBank is a cheap broker. This means that they don't charge you a lot for non-trading related activities on your trading account, like withdrawal fee.
Non-trading fees include various brokerage fees and charges at MultiBank that you pay not related to buying and selling assets. Among some others, typical non trading fees are withdrawal fee, deposit fee, inactivity fee and 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
Deposit fees are applied when you send money to your trading account from your bank account. Usually brokers don't charge money for that and MultiBank is not different: you will see the exact same amount on your brokerage account that you sent by any of the deposit methods MultiBank offers.
| 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
Unlike some online brokers we have reviewed MultiBank does not charge a withdrawal fee. This means that you'll see the same amount of money on your bank account that you transferred from your brokerage account.
| MultiBank | Admirals (Admiral Markets) | AvaTrade | |
|---|---|---|---|
| Bank transfer | Yes | Yes | Yes |
| Credit/debit card | Yes | Yes | Yes |
| Electronic wallets | Yes | Yes | Yes |
| Withdrawal fee with 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 . This means that you need to be strategic about your trading activity to avoid getting charged after a longer time of no trade. The fact that MultiBank charges an inactivity fee makes it less ideal for you if you are a buy and hold investor.
MultiBank has high inactivity fee.
| 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 |
Read more about MultiBank inactivity fee on their own site.
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