Firstrade vs MultiBank compared

Online brokers compared for fees, trading platforms, safety and more. See how Firstrade stacks up against MultiBank!

Firstrade
MultiBank
74-89% of retail CFD accounts lose money

Last update of dataDec 2022

Firstrade

Firstrade is a US discount broker regulated by the top-tier SEC and FINRA.

Recommended for beginners and investors looking for zero-commission trading, focusing on the US market.

MultiBank

MultiBank is an international CFD and forex broker, regulated by several financial authorities such as the top-tier ASIC of Australia.

Recommended for forex and CFD traders familiar with the MetaTrader trading platform.

Firstrade's service is on par with MultiBank's and a comparison of their fees shows that Firstrade's fees are slightly lower than MultiBank's.

Account opening takes somewhat more effort at Firstrade compared to MultiBank, deposit and withdrawal processes are more complicated at Firstrade, while customer service quality is considerably lower than MultiBank's.

Our experts rated the trading platform of Firstrade as being of the same quality as the platform of MultiBank, found that clients have access to slightly more markets and products with Firstrade, while MultiBank provides less useful research and education.

*Data marked with an asterisk contain additional info, expand the relevant sections below to see details.

Basic data of broker

Overall Score
4.5

Recommended for Beginners and investors looking for zero-commission trading, focusing on the US market

Overall Score
4.3

Recommended for Forex and CFD traders familiar with the MetaTrader trading platform

Country of origin

USA

Country of origin

USA

Fees

Fees score
4.4
Fees score
3.3
Fees summary

Low trading and non-trading fees, free stock, ETF, fund and options trading

Fees summary

Low trading and non-trading fees, no withdrawal fee

Stock and ETF fees

Forex fees

Fund fees

Bond fees

Options fees

Futures fees

Crypto fees

CFD fees

Non-trading fees

Deposit and withdrawal

Deposit and withdrawal score
2.2
Deposit and withdrawal score
4.5
Number of base currencies

1

Number of base currencies

7

Deposit type

Withdrawal type

Account opening

Account opening score
4.2
Account opening score
5.0
Account opening fully online
Account opening fully online
Minimum deposit
*

$0

*
Minimum deposit
*

$50

*
Time to open account

1-3 days

Time to open account

1 day

Required documents

Proof of identity: SSN / passport / national ID card / driver's license

Required documents

Proof of identity: passport / driver's license Proof of residency: bank statement / utility bill

Trading platform

Web platform score
4.3
Web platform score
3.8
Mobile platform score
3.8
Mobile platform score
3.8
Desktop platform score
-
Desktop platform score
3.4

Markets and products

Markets and products score
3.2
Markets and products score
2.1
Stocks
*
*
Stocks
*
*
Fractional shares
Fractional shares
ETFs
ETFs
Forex
Forex
Funds
*
*
Funds
Bonds
Bonds
Options
Options
Futures
Futures
Crypto
*
*
Crypto
*
*
CFDs
CFDs
CFD disclaimer

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.

Research, education

Research score
4.8
Research score
3.5
Charting quality

Great

Charting quality

Mid-range

Education score
3.5
Education score
1.5
Demo account
Demo account

Customer service

Customer service score
1.1
Customer service score
5.0
Phone
Phone
Live chat
Live chat
Email
Email
24/7 availability
24/7 availability

Security

Investor protection amount

$500,000 (securities up to $500,000, cash up to $250,000)

Investor protection amount

USD 1 million

Banking background
Banking background
Listed on stock exchange
Listed on stock exchange
Foundation date

1985

Foundation date

2005

Country of regulation

USA

Country of regulation

Australia, UAE, British Virgin Islands

Firstrade

For detailed information and hands-on experience, read our review of this broker.

MultiBank

For detailed information and hands-on experience, read our review of this broker.

*Data marked with an asterisk contain additional info, expand the relevant sections below to see details.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology.

Brokers displayed might not be available in United States.

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