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Overview of MultiBank fees and charges
When trading or investing at an online broker, fees can have a big impact on your results, so it's good to know what kind of charges you'll be facing and how these compare to fees at other brokers.
If fees are your top concern, MultiBank is an OK choice, as it has average fees in general. Check our toplist for cheaper brokers.
I've personally tested dozens of global brokers, carefully looking at their fees not just on their website but also in the course of live trading. Here's how MultiBank fared:
- MultiBank charges low FX fees and low CFD fees.
- There is an inactivity fee if you don't trade for an extended period of time.
- The basic withdrawal fee is $0, but some transactions may cost more.
- Read our full review of MultiBank for info on safety, trading platforms and funding.
| Assets | Fee level | Fee terms |
|---|---|---|
| S&P 500 CFD | Average | The fees are built into the spread, 0.9 points is the average spread cost during peak trading hours. |
| Europe 50 CFD | Low | The fees are built into the spread, 0.8 points is the average spread cost during peak trading hours. |
| EURUSD | Low | ECN account: $3.00 commission per lot per trade plus spread cost. 0.3 pips is the average spread cost during peak trading hours. |
| Inactivity fee | High | 60 USD/month after 3 consecutive months of inactivity |
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74-89% of retail CFD accounts lose money
The fee structure differs among various account types. MultiBank offers three account types:
- ECN Pro
- MultiBank Pro
- Maximus
In this review, we analyzed the fees of the ECN Pro account. ECN Pro charges a commission, but the spreads are tighter. If you opt for MultiBank Pro or Maximus, you will be charged only spread costs, but spreads will be generally wider, especially for the Maximus account.
The fee structure is not transparent at all. On the website, you can find only the spreads for each account type, but there is no information about commissions. We had to collect this information by contacting customer service.
Low FX fees
The commission charged for ECN Pro account users is $3 per lot per trade in the case of forex trades.
Multibank beats its nearest competitors when it comes to trading costs for AUDUSD and USDCAD pairs. Fees for other popular pairs such as GBPUSD or EURUSD are closer to the market average but still competitive.
|
commission per lot
|
3.00 | 3.00 | - |
|---|---|---|---|
|
EURUSD spread
|
0.3 | 0.1 | 0.9 |
|
GBPUSD spread
|
0.5 | 0.5 | 1.5 |
|
AUDUSD spread
|
0.4 | 0.6 | 1.1 |
|
EURCHF spread
|
1.1 | 1.4 | 2.0 |
|
EURGBP spread
|
0.5 | 0.7 | 1.5 |
Low CFD fees
|
S&P 500 index CFD fee
|
$3.1 | $3.2 | $3.9 |
|---|---|---|---|
|
Euro Stoxx 50 index CFD fee
|
$2.3 | $2.8 | $3.9 |
|
Apple CFD fee
|
$7.9 | $3.7 | $6.6 |
|
Vodafone CFD fee
|
$22.5 | $7.0 | $11.6 |
High inactivity fee, no withdrawal fee
MultiBank does not charge account maintenance and withdrawal fees. However, a $60 quarterly fee is charged after 3 consecutive months of inactivity, which is considered quite high.
| Broker | Inactivity fee | Withdrawal fee |
|---|---|---|
| MultiBank | $0 | |
| Admirals (Admiral Markets) | $0 | |
| AvaTrade | $0 |
Check out this short video for a behind-the-scenes peek into how our experts personally test and evaluate brokers.
