MultiBank vs Dukascopy - Fees Review included
Which broker is better MultiBank or Dukascopy? 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. Dukascopy is one of the top brokers in the financial market with the TU Overall Score of 5.78 out of 10. Find out more about TU Overall Score.
Feature | MultiBank | Dukascopy |
---|---|---|
Overall |
4.2 |
4.4 |
4.9 |
4.8 |
|
4.0 |
3.5 |
|
4.8 |
5 |
|
Investment Instruments |
4.8 |
4.0 |
Platforms and Charting Tools |
3.9 |
5 |
Deposit and Withdrawal |
4.3 |
4.1 |
Research |
3.1 |
4.6 |
Education |
2.8 |
3.9 |
Support |
4.1 |
4.2 |
Bonuses |
4.3 |
4.8 |
|
|
MultiBank vs Dukascopy: 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.
Dukascopy Bank SA is a Swiss online bank that provides its clients with online and mobile trading as well as banking and financial services. According to the law, Dukascopy, like any other Swiss bank or brokerage company, is a party to a deposit protection agreement. The EU is also on the lookout for client funds.
MultiBank | Dukascopy | |
---|---|---|
Overall Pros | Professional ECN accounts with floating spreads from 0.1 pips | providing clients with up-to-the-minute quotes |
popular trading platforms MT4 and MT5, mobile apps and web terminals compatible with various OS and browsers | permission to use algorithmic bots to automate trading; | |
several options for passive earnings including a service for copying trades, PAMM accounts, and an affiliate program | clients’ funds are secure up to CHF 100,000 | |
20,000+ CFD Products across six asset classes | ||
supervised by over 10 financial regulators worldwide across various jurisdictions | ||
Overall Cons | trading restrictions on scalping | the registration and verification processes are complicated and time-consuming |
Limited education and research | trading terminals periodically hang up and fail to work | |
High inactivity fee | the trading commission per 1 lot is high |
MultiBank vs Dukascopy: Safety and Regulation
Regulated By: | MultiBank | Dukascopy |
---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
No |
No |
CySec (Cyprus, EU) |
No |
No |
ASIC (Australia) |
Yes |
No |
Other Regulators |
AUSTRAC (Australia), BAFIN (Germany), CNMV (Spain), FMA (Liechtenstein), SMA (Singapore) TFG, HKCE, VFSA (Vanuatu), CIMA. |
FINMA (Switzerland) |
MultiBank vs Dukascopy: Trading Conditions
Trading Conditions | MultiBank | Dukascopy |
---|---|---|
Minimum Deposit |
$50 |
$100 |
Trading Platforms |
MT4, MT5, WebTrader, Mobile app |
JForex Trader, MetaTrader 4, SWFX |
Max Leverage (Futures) |
1-500 (no for all markets, EU, AU - 1-30, please look for your regulator rules) |
1-200 |
Supported Markets |
Forex, Metals, Shares, Indices, Commodities, Cryptocurrencies |
Forex, indices, cryptocurrencies, stocks, metals, binary options |
Trading assets |
20000+ |
20000+ |
Trading Accounts |
Pro, ECN, Standard, Demo |
Demo FX, Live FX |
Base Account Currencies |
USD, GBP, EUR, CHF, AUD, AED, NZD, CAD |
USD, CHF, EUR, GBP, AUD, CAD, CZK, DKK, HKD, HUF, ILS, JPY, MXN, NOK, NZD, PLN, RON, CNH, SEK, SGD, TRY, XAU and ZAR |
MultiBank vs Dukascopy: Fees
Forex Trading Fees
Fee | MultiBank | Dukascopy |
---|---|---|
Standard Account EURUSD Average Spread |
1.7 pips |
2.25 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
$3 per lot |
$1.4-3.5 per lot |
ECN Account EUR Average Spread |
0.1 pips |
0.1 pips |
CFD Trading Fees
Fee | MultiBank | Dukascopy |
---|---|---|
CFD Trading Fee |
Floating spread |
$0.5-$3.5 per lot |
Non-Trading Fees
Fee | MultiBank | Dukascopy |
---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
0-2.5% |
Withdrawal Fee |
No |
Bank Transfer $1-50, Bank Cards - 2.5% + $1.5, Neteller and Skrill - 2.5%, Crypto - $30 |
Inactivity Fee |
$60 per quarter after 3 months of inactivity |
200 CHF per mouth after 12 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 Dukascopy: Trading Assets
Asset Name | MultiBank | Dukascopy |
---|---|---|
Overall |
20000+ |
20000+ |
Forex |
Yes |
Yes |
Stocks |
Yes (CFD) |
Yes |
Metals |
Yes (CFD) |
Yes |
Cryptocurrencies |
Yes (CFD) |
Yes |
Energy |
Yes (CFD) |
Yes |
Indices |
Yes (CFD) |
Yes |
ETFs |
No |
Yes |
Bonds |
No |
Yes |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
No |
No |
Binary Options |
No |
Yes |
MultiBank or Dukascopy: Investment Programs
Asset Name | MultiBank | Dukascopy |
---|---|---|
Copy Trading |
Yes |
No |
MAM/PAMM |
Yes |
Yes |
Managed Accounts |
No |
Yes |
Other |
No |
No |
Trading Platforms: Dukascopy or MultiBank
MultiBank | Dukascopy | |
---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
No |
cTrader |
No |
No |
Appropriate platform |
No |
SWFX |
Others |
No |
JForex |
|
|
MultiBank vs Dukascopy: Deposit and Withdrawal Methods
Deposit and Withdrawal Method | MultiBank | Dukascopy |
---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes |
Crypto |
Yes |
Yes |
MultiBank vs Dukascopy: Research
Research Type | MultiBank | Dukascopy |
---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
No |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
No |
Yes |
E-Mail Reports |
NO |
Yes |
MultiBank vs Dukascopy: Education
Education Type | MultiBank | Dukascopy |
---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
No |
Yes |
Articles |
Yes |
No |
Videos |
Yes |
Yes |
Cent account |
No |
No |
Dukascopy vs MultiBank: Support
Support Features | MultiBank | Dukascopy |
---|---|---|
Working Days |
24/5 |
24/6 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
Callback |
MultiBank vs Dukascopy: Forex Bonuses and Promo
Promo | MultiBank | Dukascopy |
---|---|---|
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 |
10% deposit bonus, 20% discount on trading commission if you participate in the discount program, anniversary bonus from the company in the amount of 100% of the client's account; |
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 discount of 100% of the trading commission for inviting a friend to the company |
Other Promos |
Contests for Traders |
|
|
|
Top 5 Reviews on Dukascopy
-
Comment
In my opinion, Dukascopy deserves attention from traders. They have been in the market for a long time and are considered a serious company. A big plus is the presence of licenses and client fund insurance, which ensures reliability and investment protection. I don't have to worry about my funds because I'm confident the broker won't deceive me. They also do not interfere with trading and provide reliable quotes with fast execution. I have encountered some issues while trading with Dukascopy. However, these problems are not critical for me.
-
Comment
I'm having trouble trading with Dukascopy. I have experience trading in financial markets. But for some reason, I can't seem to make a profit on this platform, even though I'm doing everything as before. I've lost a lot of money already and I'm trying to break even to leave the project. Nothing is working, and it's really frustrating me. I feel like money will gradually drain from my Dukascopy account, and soon I'll be bankrupt.
-
Comment
That's it, I'm ending my trading with Dukascopy. While they may be trustworthy in terms of fund withdrawals, the broker is very weak in terms of trading. Firstly, they constantly increase the broker's commission, as well as the withdrawal fee. And secondly, spread widening often triggers the stop-loss. In general, after another series of losing trades, I decided to terminate my cooperation with Dukascopy.
-
Comment
I traded with Dukascopy, but I stopped. Order execution is bad now, and approval of withdrawals takes too long. Somehow it has deteriorated greatly, I hope it won’t become a scam.
-
Comment
At Dukascopy, quotes do not match the market. Several times my trades were closed by stop loss when the chart was going up everywhere. I lost $9,000 and now they do not withdraw my balance. There has been no money for 6 weeks now. They do what they want.
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.