MultiBank vs FP Markets - Fees Review included
Which broker is better MultiBank or FP Markets? 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. FP Markets is one of the top brokers in the financial market with the TU Overall Score of 6.43 out of 10. Find out more about TU Overall Score.
| Feature | MultiBank | FP Markets |
|---|---|---|
Overall |
4.2 |
4.6 |
4.9 |
4.7 |
|
4.0 |
4.7 |
|
4.8 |
4.6 |
|
Investment Instruments |
4.8 |
4.9 |
Platforms and Charting Tools |
3.9 |
4.7 |
Deposit and Withdrawal |
4.3 |
4.4 |
Research |
3.1 |
3.9 |
Education |
2.8 |
3.8 |
Support |
4.1 |
4.2 |
Bonuses |
4.3 |
2.1 |
|
|
|
MultiBank vs FP Markets: 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.
FP Markets has provided clients with access to trading on the Forex market since 2005. More than 10,000 trading instruments are available to traders. The broker is attractive due to its favorable trading conditions, super-fast order execution, popular trading terminals, and low spreads. FP Markets is monitored by respected regulators that inspire customer confidence. The transparency and reliability of the company is guaranteed by the supervision of the Australian Securities and Investments Commission - ASIC (license number 286354) and the Cyprus Securities and Exchange Commission - CySEC (license number 371/18). The company also has a registration and an office in the state of Saint Vincent and the Grenadines (SVG FSA). The FP Markets official website contains a lot of useful information about the company, Forex trading, training, analytics, answers to frequently asked questions, a trader's blog, and much more. This training treasure trove will help you improve your level of expertise.
| MultiBank | FP Markets | |
|---|---|---|
| Overall Pros | Professional ECN accounts with floating spreads from 0.1 pips | favorable trading conditions |
| popular trading platforms MT4 and MT5, mobile apps and web terminals compatible with various OS and browsers | more than 10,000 trading instruments | |
| several options for passive earnings including a service for copying trades, PAMM accounts, and an affiliate program | investment opportunities: copy trading, MAM and PAMM | |
| 20,000+ CFD Products across six asset classes | order execution speed is 40 ms | |
| supervised by over 10 financial regulators worldwide across various jurisdictions | ||
| well-regulated broker | ||
| Overall Cons | trading restrictions on scalping | complex verification process |
| Limited education and research | ||
| High inactivity fee |
MultiBank vs FP Markets: Safety and Regulation
| Regulated By: | MultiBank | FP Markets |
|---|---|---|
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. |
Saint Vincent and the Grenadines (SVG FSA) |
MultiBank vs FP Markets: Trading Conditions
| Trading Conditions | MultiBank | FP Markets |
|---|---|---|
Minimum Deposit |
$50 |
$100 |
Trading Platforms |
MT4, MT5, WebTrader, Mobile app |
MT4, МТ5, Webtrader, Mobile, Iress |
Max Leverage (Futures) |
1-500 (no for all markets, EU, AU - 1-30, please look for your regulator rules) |
1-500, for EU and AU clients - 1-30 |
Supported Markets |
Forex, Metals, Shares, Indices, Commodities, Cryptocurrencies |
Forex, indices, metals, oil, gas, raw materials, securities, cryptocurrency |
Trading assets |
20000+ |
10000+ |
Trading Accounts |
Pro, ECN, Standard, Demo |
Demo, Raw, Standard for MT4 and MT5, and Standard, Platinum, and Premier for Iress |
Base Account Currencies |
USD, GBP, EUR, CHF, AUD, AED, NZD, CAD |
AUD |
MultiBank vs FP Markets: Fees
Forex Trading Fees
| Fee | MultiBank | FP Markets |
|---|---|---|
Standard Account EURUSD Average Spread |
1.7 pips |
1.3 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
$3 per lot |
$3 per lot |
ECN Account EUR Average Spread |
0.1 pips |
0.2 pips |
CFD Trading Fees
| Fee | MultiBank | FP Markets |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread, Share CFDs - from 0.08% to 0.1% |
Non-Trading Fees
| Fee | MultiBank | FP Markets |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
No |
No |
Inactivity Fee |
$60 per quarter after 3 months of inactivity |
No |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
MultiBank vs FP Markets: Trading Assets
| Asset Name | MultiBank | FP Markets |
|---|---|---|
Overall |
20000+ |
10000+ |
Forex |
Yes |
Yes |
Stocks |
Yes (CFD) |
Yes |
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 |
Yes (CFD) |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
No |
No |
Binary Options |
No |
No |
MultiBank or FP Markets: Investment Programs
| Asset Name | MultiBank | FP Markets |
|---|---|---|
Copy Trading |
Yes |
Yes |
MAM/PAMM |
Yes |
Yes |
Managed Accounts |
No |
No |
Other |
No |
Bond CFDs |
Trading Platforms: FP Markets or MultiBank
| MultiBank | FP Markets | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
Yes |
cTrader |
No |
No |
Appropriate platform |
No |
No |
Others |
No |
Iress |
|
|
|
MultiBank vs FP Markets: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | MultiBank | FP Markets |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes |
Crypto |
Yes |
No |
MultiBank vs FP Markets: Research
| Research Type | MultiBank | FP Markets |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
No |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
No |
No |
E-Mail Reports |
NO |
Yes |
MultiBank vs FP Markets: Education
| Education Type | MultiBank | FP Markets |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
No |
Yes |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Cent account |
No |
Yes |
FP Markets vs MultiBank: Support
| Support Features | MultiBank | FP Markets |
|---|---|---|
Working Days |
24/5 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
yes |
Online chat |
Yes |
Yes |
Other |
No |
No |
MultiBank vs FP Markets: Forex Bonuses and Promo
| Promo | MultiBank | FP Markets |
|---|---|---|
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 |
No |
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. |
CPA. It is a program that allows you to receive remuneration for attracted clients. An excellent option for owners of popular Internet resources, like SEO specialists, bloggers, etc. The partner receives a fixed commission for each attracted client once they become active traders. |
Other Promos |
||
|
|
|
Top 5 Reviews on FP Markets
-
Comment
I trade with FP Markets and I can say that, for the most part, trading here is feasible. Spreads are not extremely narrow, but when they widen, it's not by much. Swaps can be positive, which is a plus. The trading terminal itself at FP Markets works fine; orders are processed quickly. Withdrawals occur in accordance with regulations. However, the withdrawal timeframes are above average compared to other companies.
-
Comment
I trust fp markets. I really like how it has changed lately, the company has begun to provide better service. So far I like everything, its client-oriented approach is at a high level. I can recommend it.
-
Comment
I want to say that FP Markets is a normal broker. There have almost never been any problems with either withdrawals or quotes. It’s a completely reliable and solvent broker.
-
Comment
Since the beginning of this year, something strange has been going on with FP Markets. The platform constantly freezes when opening and closing trades. And recently, they opened as many as five trades to buy EUR against USD. I demand that support cancels these trades because I did not open them. But it looks like I need to stop trading with this broker.
-
Comment
FP markets brings only losses. And this does not depend on how the trader trades. Even with an excellent trading strategy, trades on this platform cause losses. Because it is beneficial to the company and because FP markets itself trades against traders and takes their money.
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.