FxPro vs MultiBank - Fees Review included
Which broker is better FxPro or MultiBank? Our expert assessment conducted according to TU’s own methodology showed that FxPro is one of the top brokers in the financial market with the TU Overall Score of 8.68 out of 10. MultiBank is one of the top brokers in the financial market with the TU Overall Score of 5.94 out of 10. Find out more about TU Overall Score.
| Feature | FxPro | MultiBank |
|---|---|---|
Overall |
4.6 |
4.2 |
5 |
4.9 |
|
3.9 |
4.0 |
|
4.6 |
4.8 |
|
Investment Instruments |
4.9 |
4.8 |
Platforms and Charting Tools |
4.2 |
3.9 |
Deposit and Withdrawal |
4.5 |
4.3 |
Research |
4.7 |
3.1 |
Education |
4.6 |
2.8 |
Support |
4.5 |
4.1 |
Bonuses |
2.5 |
4.3 |
|
|
|
FxPro vs MultiBank: Pros and Cons
The FxPro broker was registered in July 2006 in Cyprus. The company’s activities are licensed by financial regulators: CySEC (Cyprus), Bahamas SCB, FCA (UK), and South African FSCA. FxPro is successfully operating in more than 170 countries for retail and institutional clients. The broker has received more than 85 awards, including “Best Forex Trading Platform” and “Best Trading Platform”. FxPro has become known for providing the best trading tools. With FxPro broker, traders can trade more than 70 currency pairs, futures and stocks (Twitter, Apple, Google). The company has stock indices, metals and energy resources at its disposal. FxPro sets high safety standards with the client's funds being kept in large international banks. They are insured and separated from the broker's equity.
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.
| FxPro | MultiBank | |
|---|---|---|
| Overall Pros | Regulated in EU and Great Britain | Professional ECN accounts with floating spreads from 0.1 pips |
| Big choice of ECN/STP accounts | popular trading platforms MT4 and MT5, mobile apps and web terminals compatible with various OS and browsers | |
| insurance of client funds | several options for passive earnings including a service for copying trades, PAMM accounts, and an affiliate program | |
| Strong research and education | 20,000+ CFD Products across six asset classes | |
| PAMM and Copy-trading for investors | supervised by over 10 financial regulators worldwide across various jurisdictions | |
| Personal offers for VIP-clients | ||
| Overall Cons | High spreads and fees | trading restrictions on scalping |
| No forex bonuses | Limited education and research | |
| High inactivity fee |
FxPro vs MultiBank: Safety and Regulation
| Regulated By: | FxPro | MultiBank |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
Yes |
No |
CySec (Cyprus, EU) |
Yes |
No |
ASIC (Australia) |
No |
Yes |
Other Regulators |
FSCA (South Africa), SCB (Bahamas) |
AUSTRAC (Australia), BAFIN (Germany), CNMV (Spain), FMA (Liechtenstein), SMA (Singapore) TFG, HKCE, VFSA (Vanuatu), CIMA. |
FxPro vs MultiBank: Trading Conditions
| Trading Conditions | FxPro | MultiBank |
|---|---|---|
Minimum Deposit |
$100 |
$50 |
Trading Platforms |
MT4, MT5, MultiTerminal |
MT4, MT5, WebTrader, Mobile app |
Max Leverage (Futures) |
1:500 SCB regulation 1:30 (FCA, CySec regulation) |
1-500 (no for all markets, EU, AU - 1-30, please look for your regulator rules) |
Supported Markets |
Forex, CFDs on indices cryptocurrencies, stocks, energy commodities |
Forex, Metals, Shares, Indices, Commodities, Cryptocurrencies |
Trading assets |
3000+ |
20000+ |
Trading Accounts |
FxPro MT4 Instant (with fixed spreads), FxPro MT4 Instant (with floating spreads), FxPro MT4 Market, FxPro MT5, FxPro cTrader, VIP-account |
Pro, ECN, Standard, Demo |
Base Account Currencies |
USD, EUR, PLN, GBP, AUD, CHF, JPY, ZAR |
USD, GBP, EUR, CHF, AUD, AED, NZD, CAD |
FxPro vs MultiBank: Fees
Forex Trading Fees
| Fee | FxPro | MultiBank |
|---|---|---|
Standard Account EURUSD Average Spread |
2.4 pip |
1.7 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
Not offered |
$3 per lot |
ECN Account EUR Average Spread |
Not offered |
0.1 pips |
CFD Trading Fees
| Fee | FxPro | MultiBank |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
| Fee | FxPro | MultiBank |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
No |
No |
Inactivity Fee |
$5 per month after 6 monthes without trades |
$60 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.
FxPro vs MultiBank: Trading Assets
| Asset Name | FxPro | MultiBank |
|---|---|---|
Overall |
3000+ trading assets |
20000+ |
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 |
No |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
No |
No |
Binary Options |
No |
No |
FxPro or MultiBank: Investment Programs
| Asset Name | FxPro | MultiBank |
|---|---|---|
Copy Trading |
Yes |
Yes |
MAM/PAMM |
Yes |
Yes |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: MultiBank or FxPro
| FxPro | MultiBank | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
Yes |
cTrader |
No |
No |
Appropriate platform |
FxPro |
No |
Others |
No |
No |
|
|
|
FxPro vs MultiBank: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | FxPro | MultiBank |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes (Only Bahamas and South Africa regulated entities) |
Yes |
Crypto |
No |
Yes |
FxPro vs MultiBank: Research
| Research Type | FxPro | MultiBank |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
No |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
No |
E-Mail Reports |
Yes |
NO |
FxPro vs MultiBank: Education
| Education Type | FxPro | MultiBank |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
No |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Cent account |
No |
No |
MultiBank vs FxPro: Support
| Support Features | FxPro | MultiBank |
|---|---|---|
Working Days |
24/5 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
No |
FxPro vs MultiBank: Forex Bonuses and Promo
| Promo | FxPro | MultiBank |
|---|---|---|
Forex Bonus |
Not offered |
“Trading Bonuses”, traders can benefit from various trading bonuses including the 20% deposit bonus whereby traders can earn a bonus up to $40,000 |
Affiliate Program |
Up to $1.100 per client you introduce to FxPro |
“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. |
Other Promos |
||
|
|
|
Top 5 Reviews on MultiBank
-
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.
-
Comment
I didn't like the MultiBank company. Despite not having a lot of experience, even I understand that their trading conditions are unfavorable. Moreover, there are frequent disruptions in the terminal, and I have to constantly reload it throughout the trading day. This speaks volumes. In general, I'm switching from MultiBank to another broker. I wouldn't recommend this one for trading.
Top 5 Reviews on FxPro
-
Comment
To become a successful forex trader, you must know the four trading sessions and best time to trade in the most busy session. Forex trading sessions are times when the forex market is open and closed in different regions. You have to learn about these sessions to know when each opens and closes before you open a position. Out of the four sessions, new york and London is the ones with the highest trading volume and the best sessions to trade in if you want to trade in a busy market. I use the FXxPro Global Stock Exchanges session times to know what session is open and to monitor when two sessions overlap especially the New York and London overlap which is the best time to trade as it is known to have the heaviest volume of trading and is best for trading opportunities. Personally, this is one of the simple but helpful tools for day traders on FxPro.
-
Comment
You can transfer from your Fxpro wallet to your trading wallet 24/7. I happen to be busy during the weekdays and only trade during the weekends, now i want to transfer funds between my FxPro Wallet and trading accounts during the weekend to trade. The first time i tried i had few open positions and it stalled but after closing the positions it was successful. So transferring funds between fxpro wallet and trading accounts during weekends is possible if the specific trading account you are transferring from does not have any open positions. You will not be able to move money from an open trade you had over the weekend to your wallet until the market reopens on Sunday at 22:00 UK time.
-
Comment
When you encounter any challenge with your trade, the best option is to contact the customer service agent if you don't have any senior trader you can get help from at the moment. At least the Fxpro customer service is fast, responsive, and made up of experts. Issues with verifications, deposit and withdrawals are best handled by the support team, especially those that have to do with delay in funding accounts. You can use the FAQ option to solve some recurring issues as you can find answers given to traders who had similar challenges earlier. In one of the occasions connecting to the customer support was not going through so i decided to check the FAQ section. My challenge has to do with transferring from my wallet to my trading account. I solved this with the answer from the FAQ section.
-
Comment
Great broker FxPro. It has decent trading tools and a wide range of assets. This is good because the opportunity to invest in multiple financial markets simultaneously is an advantage for any trader. FxPro has a fairly professional customer support service, helping to resolve various issues. I've traded here on two platforms, and they both work quickly.
-
Comment
You can entrust FxPro with your money. As far as I know, the company has established itself as a decent broker and it would be surprising when they engage in manipulation here. I have been trading with FxPro for many years and during all this time I haven’t noticed any manipulations or bucket shop methods.
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.
The area of responsibility of Mikhail includes covering the news of currency and stock markets, fact checking, updating and editing the content published on the Traders Union website. He successfully analyzes complex financial issues and explains their meaning in simple and understandable language for ordinary people. Mikhail generates content that provides full contact with the readers.
Mikhail’s motto: Learn something new and share your experience – never stop!