MultiBank vs AvaTrade - Fees Review included
Which broker is better MultiBank or AvaTrade? Our expert assessment conducted according to TU’s own methodology showed that MultiBank is one of the top brokers in the financial market with the TU Overall Score of 5.92 out of 10. AvaTrade is one of the top brokers in the financial market with the TU Overall Score of 7.16 out of 10. Find out more about TU Overall Score.
| Feature | MultiBank | AvaTrade |
|---|---|---|
Overall |
4.2 |
4.6 |
4.9 |
4.7 |
|
4.0 |
4.4 |
|
4.8 |
4.4 |
|
Investment Instruments |
4.8 |
4.2 |
Platforms and Charting Tools |
3.9 |
4.6 |
Deposit and Withdrawal |
4.3 |
4.7 |
Research |
3.1 |
4.4 |
Education |
2.8 |
4.8 |
Support |
4.1 |
4.6 |
Bonuses |
4.3 |
3.9 |
|
|
|
MultiBank vs AvaTrade: Pros and Cons
Established in 2005, MultiBank Group has successfully stamped its authority in the world of trading. It has a valid impact in the foreign exchange industry with providing exemplary products, services, and trading platforms. With a paid-up capital of over $322 million, MultiBank Group is recognized as one of the largest only financial derivatives providers worldwide. The Group is closely supervised by over 10 financial regulators worldwide across various jurisdictions, what ensures investor protection. Entities regulated by ASIC, BAFIN, CNMV, FMA, TFG, HKCE, AUSTRAC, VFSA, CIMA.
AvaTrade was founded in 2006 in Dublin, Ireland. The company has offices in 150 countries. It currently has over 200, 000 registered users and processes more than 2 million transactions every month. These factors contribute to AvaTrade being a reliable and trusted broker. They are accredited across five continents and are one of the market leaders. The broker is regulated by the Australian Securities and Investment Commission (ASIC), the Japanese FSA, and the South African FSCA. AvaTrade holds accreditation by the Central Irish Bank, the Abu Dhabi Financial Services Regulatory Authority, and the British Virgin Islands Financial Services Commission. AvaTrade allows traders to trade stocks, securities, indices, cryptocurrencies, and currency pairs. In total, the offer more than 250 tools to customers.
| MultiBank | AvaTrade | |
|---|---|---|
| Overall Pros | Professional ECN accounts with floating spreads from 0.1 pips | Highly regulated broker, licenced on the territory of 5 continents |
| popular trading platforms MT4 and MT5, mobile apps and web terminals compatible with various OS and browsers | a wide range of trading instruments | |
| several options for passive earnings including a service for copying trades, PAMM accounts, and an affiliate program | Swap-free account | |
| 20,000+ CFD Products across six asset classes | Advanced copy trading tools | |
| supervised by over 10 financial regulators worldwide across various jurisdictions | A lot of educational content | |
| Low fees | ||
| Optioins trading | ||
| Overall Cons | trading restrictions on scalping | customer service efficiency and response time |
| Limited education and research | There is no ECN account | |
| High inactivity fee | Market maker(dealing desk) type of broker |
MultiBank vs AvaTrade: Safety and Regulation
| Regulated By: | MultiBank | AvaTrade |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
No |
No |
CySec (Cyprus, EU) |
No |
Yes |
ASIC (Australia) |
Yes |
Yes |
Other Regulators |
AUSTRAC (Australia), BAFIN (Germany), CNMV (Spain), FMA (Liechtenstein), SMA (Singapore) TFG, HKCE, VFSA (Vanuatu), CIMA. |
Central Bank of Ireland (No.C53877), B.V.I Financial Services Commission, South African Financial Sector Conduct Authority (FSCA No.45984), Japan - Financial Services Agency (License No.: 1662), the Financial Futures Association of Japan (License No.: 1574), Abu Dhabi Global Markets (ADGM), Israel Securities Authority (No. 514666577) |
MultiBank vs AvaTrade: Trading Conditions
| Trading Conditions | MultiBank | AvaTrade |
|---|---|---|
Minimum Deposit |
$50 |
$100 |
Trading Platforms |
MT4, MT5, WebTrader, Mobile app |
MT4, MT5, AvaTradeGo, AvaOptions |
Max Leverage (Futures) |
1-500 (no for all markets, EU, AU - 1-30, please look for your regulator rules) |
1-400 |
Supported Markets |
Forex, Metals, Shares, Indices, Commodities, Cryptocurrencies |
Currency pairs, Forex Options, CFDs on stocks, cryptocurrencies, indices, metals, commodities |
Trading assets |
20000+ |
100+ |
Trading Accounts |
Pro, ECN, Standard, Demo |
Standard, Professional account |
Base Account Currencies |
USD, GBP, EUR, CHF, AUD, AED, NZD, CAD |
EUR, USD |
MultiBank vs AvaTrade: Fees
Forex Trading Fees
| Fee | MultiBank | AvaTrade |
|---|---|---|
Standard Account EURUSD Average Spread |
1.7 pips |
0.9 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
$3 per lot |
Not supported |
ECN Account EUR Average Spread |
0.1 pips |
Not supported |
CFD Trading Fees
| Fee | MultiBank | AvaTrade |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
| Fee | MultiBank | AvaTrade |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
No |
No |
Inactivity Fee |
$60 per quarter after 3 months of inactivity |
$50 per quarter after 3 months of inactivity |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
MultiBank vs AvaTrade: Trading Assets
| Asset Name | MultiBank | AvaTrade |
|---|---|---|
Overall |
20000+ |
1000+ |
Forex |
Yes |
Yes |
Stocks |
Yes (CFD) |
Yes (CFD) |
Metals |
Yes (CFD) |
Yes (CFD) |
Cryptocurrencies |
Yes (CFD) |
Yes (CFD) |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes (CFD) |
Yes (CFD) |
ETFs |
No |
Yes (CFD) |
Bonds |
No |
Yes (CFD) |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
No |
Yes |
Binary Options |
No |
No |
MultiBank or AvaTrade: Investment Programs
| Asset Name | MultiBank | AvaTrade |
|---|---|---|
Copy Trading |
Yes |
Yes |
MAM/PAMM |
Yes |
No |
Managed Accounts |
No |
Yes |
Other |
No |
Bonds |
Trading Platforms: AvaTrade or MultiBank
| MultiBank | AvaTrade | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
Yes |
cTrader |
No |
No |
Appropriate platform |
No |
AvaTradeGo, AvaOptions |
Others |
No |
No |
|
|
|
MultiBank vs AvaTrade: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | MultiBank | AvaTrade |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes (not for Australian and EU clients) |
Crypto |
Yes |
No |
MultiBank vs AvaTrade: Research
| Research Type | MultiBank | AvaTrade |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
No |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
No |
Yes |
E-Mail Reports |
NO |
Yes |
MultiBank vs AvaTrade: Education
| Education Type | MultiBank | AvaTrade |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
No |
Yes |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Cent account |
No |
Yes |
AvaTrade vs MultiBank: Support
| Support Features | MultiBank | AvaTrade |
|---|---|---|
Working Days |
24/5 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
No |
MultiBank vs AvaTrade: Forex Bonuses and Promo
| Promo | MultiBank | AvaTrade |
|---|---|---|
Forex Bonus |
“Trading Bonuses”, traders can benefit from various trading bonuses including the 20% deposit bonus whereby traders can earn a bonus up to $40,000 |
The broker offers its customers a one-time bonus upon first deposit (not for all markets) |
Affiliate Program |
“Introducing Broker Program”, this IB program is dedicated to benefit a community of 30,000+ IBs with one of the highest rebates and offers in the industry. “CPA Affiliate Program”, this CPA program allows digital marketers such as portal websites, media buyers, email marketers, affiliate networks, bloggers, and influencers of the forex or financial services community to earn a commission for every active trader they introduce to MultiBank Group. |
A trader can receive up to 400 US dollars for inviting friends. |
Other Promos |
||
|
|
|
Top 5 Reviews on AvaTrade
-
Comment
I decided to test the waters with AvaTrade by using their demo account, and I must say, the experience was quite good. It helped me get familiar with the platform and how trading works. Now, I'm considering transitioning to a real account. However, my final verdict hinges on how smooth the deposit and withdrawal processes are. If these aspects meet my expectations, AvaTrade will definitely earn a 5-star rating from me. Otherwise, it might drop to 3 or 4 stars. Nonetheless, I appreciate the overall experience and commend the team for their efforts.
-
Comment
Been using AvaTrade for a few weeks now, and I'm happy with the support they offer. They have a couple different ways to get help, which is convenient. There's an AI-powered chatbot that can answer basic questions, and you can also contact them via WhatsApp. That's pretty cool for quick inquiries. If you have a more complex issue, you can email their customer support team. They got back to me pretty quickly with a helpful answer when I had a question about withdrawal options. However, it would be even better if you could connect directly with a customer service rep through the chatbot. Right now, it just directs you to email if your question is complex. A live chat option would be nice too, for those times when you need help right away. Overall, AvaTrade's customer support is good, with multiple ways to get help. Just wish there was a more direct way to connect with a rep through the chatbot.
-
Comment
I mostly use AvaTrade for long-term stock investing, not day trading. Their fees seem reasonable for that, and they have a good selection of stocks to choose from. Can't speak for the other features like CFDs or options, but for basic stock investing, AvaTrade seems like a decent option. AvaTrade's mobile app is handy for checking on trades on the go, but it could be smoother. Sometimes it takes a while to load charts and info, which can be frustrating. Also, placing trades on the app feels a bit clunky compared to the desktop platform. Would be nice if they updated the app to be more user-friendly.
-
Comment
While trading with AvaTrade, there was one incident. I opened a trade on the USD/CAD currency pair. The trading was going smoothly, and there were no important news releases. Suddenly, there was a sharp market movement that hit my stop-loss. The movement was 29 pips. Later, everything returned to normal, but I incurred a loss. Over the course of a month, I pursued the review of my claim and the cancellation of the losing trade. The company canceled the losing trade, acknowledging such movement as outside of the market. Overall, with AvaTrade, you can fight for and defend your rights.
-
Comment
I requested a withdrawal from Avatrade at the end of the day and received my funds the next afternoon without delay or difficulty. I was pleasantly surprised by the speed of the transaction, especially considering that some companies delay payments for several months. Moreover, I make good profits from my trades on the Avatrade platform, which works flawlessly.
Top 5 Reviews on MultiBank
-
Comment
I think that MultiBank is a reliable and normal broker. Ask why? Because my money was drained with another company, and when I registered and started trading with MultiBank I had no problems. The quotes are real, and most importantly, I managed to earn $300 in 2 months with a deposit of $2,000, although I’m not that experienced. I think I’ll continue trading here and if anything changes — I’ll let you know.
-
Comment
I recommend working with MultiBank to everyone, and for novice traders I recommend trading on a demo account until you learn how to trade profitably. For normal trading, MultiBank requires a sufficient deposit. But with a small deposit there is absolutely nothing to do in the financial market. The platform is normal and with a good strategy you can make money here.
-
Comment
I’ve been trading with multibank for about a year. At first I started with a small deposit, as I wanted to check the conditions and had doubts about withdrawals. Yes, the first withdrawal was delayed for several days, but subsequent ones were without problems — withdrawals arrived on the day of requests. Personally, I have no problems with MultiBank, perhaps because I trade honestly and not aggressively.
-
Comment
It is strange to hear dissatisfaction from traders, especially from novice traders. You need experience to understand the quality of brokerage services. If traders trade with a huge leverage, lose everything, and then complain about the company, it’s not the company to blame. They would still have lost their money with such trading... No matter where. MultiBank is a normal company.
-
Comment
spent 2 years trading with Multi bank. I lost about $60,000 and the price almost never went up. It’s just that after opening orders, the price immediately bounces off and goes in the opposite direction. When I complained - they took action! But I’m just tired of such work.
FAQs
What should I start Forex trading with?
It is desirable for novice traders to explore trading using a demo account to learn the market and how to work on the trading platform without the risk of suffering losses. At the same time, it is advisable to review the educational materials of the broker, learn trading basics. Then you can deposit the minimum required amount to perform a small number of transactions. If you manage to close several months in a row in the black, without substantial drawdowns on the account, then you can try increasing your deposit. Also trying to copy trades automatically is a good option for a start.
What amount should I start trading with?
The minimum deposit of $10 may be enough to trade on the cent account. However, for trading on Standard/ECT accounts, experts recommend starting with at least $200-500. With this amount, you can use not a very big leverage. Remember, getting carried away with the margin is the main cause of losses among beginners.
What should I take into consideration when choosing a broker?
Experts recommend looking at the broker’s reliability first and foremost. The other important features include basic trading conditions, commissions and fees, customer reviews. If brokers are approximately the same in terms of basic criteria, you need to choose based on your experience and tasks. One broker may be good for professionals and another – for novice traders.
Is it possible to be scammed by a broker with a license from a reputable regulator?
In theory, yes. But in practice, it takes so much time and money to comply with the requirements of reputable regulators that it is not worth it for scammers to bother obtaining a legitimate license.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.