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

Vs.

FXCM
Visit

77% of retail CFD accounts lose money.

MultiBank Vs. FXCM - Compare Trustworthiness, Capabilities, Fees and Legitimacy

Updated Oct 20 2022

Visit

74-89% of retail CFD accounts lose money.

Visit

77% of retail CFD accounts lose money.

Overview

MultiBank (MultiBank FX, MultiBank Group) is a global broker founded in 2005 that specialises in CFDs trading via MetaTrader 4 and 5 platforms.

FXCM is a global brokerage headquartered in the U.K that specialises in both retail and institutional trading with a comprehensive API offering. 

**The below information is provided based on FXCM EU LTD. For other FXCM entities, please go to the corresponding FXCM website for more information.

TheTradingBible.com is acting in a capacity of marketing affiliate for FXCM EU LTD.

Best For
  • Traders looking for an off-shore broker connected to a well regulated parent group that provides high leverage
  • Stock CFDs traders looking for wide share variety
  • FX Traders that don’t scalp and are looking for competitive ECN accounts
  • Professional algorithmic traders looking to benefit from their comprehensive API offering.
Licenses

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

4

Other Licenses

4

Provided by
TheTradingBible.com

Learn More

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

2

Other Licenses

2

Provided by
TheTradingBible.com

Learn More
🏛 Financial Regulators
  • ASIC (Australia)
  • BaFin (Germany)
  • CIMA (Cayman Islands)
  • FSC (British Virgin Islands)
  • FMA (Austria)
  • MAS (Singapore)
  • TFG (Tianjin)
  • VFSC (Vanuatu)
  • ASIC (Australia)
  • CySec (Cyprus)
  • FCA (United Kingdom)
  • FSCA (South Africa)
The Good
  • Great asset variety (over 13,000+)
  • Competitive commissions on Pro and ECN accounts ($3 per lot side)
  • High leverage offering (Up to 1:500)
  • Comprehensive API offering with a variety of conditions and programming languages at no additional cost
  • Proprietary platform (Trading Station)
The Bad
  • Complicated legal regulatory framework due to being a group as it’s hard to understand which of their companies do what and on which entity does a customer trade or is being protected by regulation
  • Scalping not allowed (120 seconds time limit for FX and commodities and 300 second limit for other CFDs)
  • Expensive inactivity fee, $60 monthly after 90 days of inactivity.
  • Lack of asset variety in their offering (over 463+ financial instruments)
  • Costly spreads when compared to similar competitors
Status
Operational Operational
Recent News

No fresh news at the moment. Check again soon!

No fresh news at the moment. Check again soon!

Key Data
⌛ Account Opening Time
1 day 1 day
📋 Documents Required
  • Valid identity document (Passport, ID Card, etc)
  • Valid proof of residence document (Bank statement, utility bills)

All documents must be under the account holder's name.

  • Valid identity document (Passport, ID Card, etc)
  • Valid proof of residence document (Bank statement, utility bills)

All documents must be under the account holder's name.

📍 Year Founded
2005 1999
💳 Minimum Deposit Range
From $50 to $5,000 $50
💰 Payment Methods
  • Visa
  • Mastercard
  • Bank Transfer
  • PayTrust
  • Praxis
  • Pagsmile
  • Skrill
  • Neteller
  • Plus Wallets
  • Payment Asia
  • GlobePay
  • POLi
  • Bitcoin
  • Visa
  • Mastercard
  • Bank Transfer
  • Neteller
  • Skrill
💵 Account Base Currencies
17 - USD, EUR, AUD, AED, GBP, CHF, CAD, MYR, THB,VND, IDR, BRL, MXN, CLP, PEN, GTQ, NIO. 4 - EUR GBP, USD, CHF.
🗽 Available to U.S Citizens
No No
❌ Restricted Countries

US, CA, SY, IR.

RU, US, CA, JP, SK, BE and more.

📊 STP Account
No No
📊 DMA Account
No No
📊 ECN Account
Yes No
Banking License
No No
Debit Card
No No
Assets
📚 Assets Type
CFDs CFDs
Total Asset Offering
13,925 447
Exchange Access
0 0
📙 Real Stocks
0 0
📙 Stock CFDs
12,825 341
📘 Currency Pairs
0 0
📘 Currency Pair CFDs
41 41
📗 Commodities
0 0
📗 Commodities CFDs
21 14
📕 Indices
0 0
📕 Indices CFDs
27 19
📔 ETFs
0 0
📔 ETFs CFDs
1,000 0
💸 Cryptocurrencies
0 0
💸 Cryptocurrency CFDs
11 22
📒 Bonds
0 0
📒 Bonds CFDs
0 10
📓 Options
0 0
📓 Options CFDs
0 0
📗 Futures
0 0
📗 Futures CFDs
0 0
Trading Experience
📈 Minimum Stock Trade Size
1 Share 1 Share
📉 Minimum ETFs Trade Size
1 ETF Unavailable
📈 Minimum Crypto Trade Size
$1,000 (0.01 Lots) 1 Unit
📉 Minimum FX Trade Size
$1,000 (0.01 Lots) $1,000 (0.01 Lots)
📈 Minimum Commodities Trade Size
$1,000 (0.01 Lots) Varies by Commodity (Eg: 1 Troy ounce of Gold)
📉 Minimum Bonds Trade Size
Unavailable Unavailable
📈 Minimum Futures Trade Size
Unavailable Unavailable
📉 Minimum Options Trade Size
Unavailable Unavailable
💪 Retail Leverage
500 30
💪 Professional Leverage
Unavailable 400
✍ Customisable Leverage
No No
🎲 Deleveraged Trading
No No
🎓 Demo Account
Yes Yes
📱 IOS App
No Yes
📱 Android App
No Yes
📺 MetaTrader 4
No Yes
📺 MetaTrader 5
Yes No
📺 cTrader
No No
💻 Web trader
Yes Yes
💻 TradingView Platform
No Yes
💻 Proprietary Platform
No Yes
📊 Multi-chart Tools
Yes Yes
👬 Copy Trading
Yes Yes
👫 Social Trading
Yes Yes
🔑 Guaranteed Stop-loss
No No
🔨 Trailing Stop-loss
Yes Yes
Fees
💰 Inactivity Fee

After 90 days of inactivity, $60 every month.

50 units of the account's base currency yearly after 1 year of inactivity.

💰 Deposit Fees
None

Yes on bank transfer withdrawals depending on location (from $10 to $40 on local currency).

💰 Withdrawal Fees
None None
💰 Commissions
  • None on Standard accounts.
  • Yes in Pro and ECN accounts of $3 per lot side.
None
Spreads
📈 EUR/USD
Dynamic - From 0.1 to 1.2 Pips Dynamic - From 1.2 Pips
📉 SP500
Dynamic - From 2 to 50 Pips Dynamic - From 58 Pips
📈 GOLD
Dynamic - From 2 to 50 Pips Dynamic - From 41 Pips
📉 TSLA (Stock CFD)
Unavailable Dynamic - From $1.04
📈 XLK (ETF - CFD)
Unavailable Unavailable
📉 BTC
Unavailable Dynamic - From $51
Research and Analysis
⭐ Watchlists
Yes Yes
🔭 Stock Screener
No No
🗓 Economic Calendar
Yes Yes
📜 Integrated Newsfeed
No Yes
📡 Reuters Feed
No No
📡 Educational Content
No Yes
📡 Live Chat Support
No Yes
📡 Video Tutorials
No No
📡 Account Management
Yes No
📡 Webinars
No No