MultiBank vs XM compared

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

MultiBank
XM
MultiBank
4.5
74-89% of retail CFD accounts lose money
74.89% of retail CFD accounts lose money

Last update of dataAug 2022

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.

XM

XM is a global forex and CFD broker regulated by Australia's ASIC, CySEC of Cyprus, and Belizean authority IFSC.

Recommended for forex and CFD traders who prefer MetaTrader platforms and seek great account opening.

MultiBank's service is on par with XM's and a comparison of their fees shows that MultiBank's fees are similar to XM's.

Account opening takes about the same effort at MultiBank compared to XM, deposit and withdrawal processes are about the same quality at MultiBank, while customer service quality is somewhat better than XM's.

Our experts rated the trading platform of MultiBank as being of the same quality as the platform of XM, found that clients have access to slightly less markets and products with MultiBank, while XM provides somewhat better 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 Forex and CFD traders familiar with the MetaTrader trading platform

Overall Score
4.4

Recommended for Forex and CFD traders who prefer MetaTrader platforms and seek great account opening

Country of origin

USA

Country of origin

Cyprus

Fees

Fees score
4.0
Fees score
4.1
Fees summary

Low trading and non-trading fees, no withdrawal fee

Fees summary

Average trading and non-trading fees, low CFD fees

Stock and ETF fees

Forex fees

Fund fees

Bond fees

Options fees

Futures fees

CFD fees

Non-trading fees

Deposit and withdrawal

Deposit and withdrawal score
5.0
Deposit and withdrawal score
5.0
Number of base currencies

20

Number of base currencies

11

Deposit type

Withdrawal type

Account opening

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

$50

*
Minimum deposit
*

$5

*
Time to open account

1 day

Time to open account

1 day

Required documents

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

Required documents

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

Trading platform

Web platform score
3.8
Web platform score
2.8
Mobile platform score
3.8
Mobile platform score
3.8
Desktop platform score
3.4
Desktop platform score
3.4

Markets and products

Markets and products score
2.0
Markets and products score
2.5
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.

CFD disclaimer

Disclaimer: 74.89% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Research, education

Research score
3.5
Research score
4.5
Charting quality

Mid-range

Charting quality

Mid-range

Education score
1.5
Education score
4.5
Demo account
Demo account

Customer service

Customer service score
4.5
Customer service score
4.0
Phone
Phone
Live chat
Live chat
Email
Email
24/7 availability
24/7 availability

Security

Investor protection amount

USD 1 million

Investor protection amount

€20,000 for EEA residents, no protection for others

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

2005

Foundation date

2009

Country of regulation

Australia, UAE, British Virgin Islands

Country of regulation

Cyprus, Australia, Belize, United Arab Emirates

MultiBank

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

XM

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.

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