MultiBank vs LiteForex - Fees Review included
Which broker is better MultiBank or LiteForex? 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. LiteForex is one of the top brokers in the financial market with the TU Overall Score of 6.38 out of 10. Find out more about TU Overall Score.
| Feature | MultiBank | LiteForex |
|---|---|---|
Overall |
4.2 |
4.4 |
4.9 |
4.8 |
|
4.0 |
3.7 |
|
4.8 |
3.8 |
|
Investment Instruments |
4.8 |
4.5 |
Platforms and Charting Tools |
3.9 |
4.5 |
Deposit and Withdrawal |
4.3 |
5 |
Research |
3.1 |
4 |
Education |
2.8 |
4.4 |
Support |
4.1 |
4.7 |
Bonuses |
4.3 |
4.1 |
|
|
|
MultiBank vs LiteForex: 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.
The LiteForex broker is a high-tech company that constantly offers innovative solutions for active and passive trading. The LiteForex group of companies was incorporated in 2005, and it has risen through the ranks to become a market leader. Today, LiteForex is an online ECN broker with unique technical solutions for transferring transactions to the interbank and directly to liquidity providers.
| MultiBank | LiteForex | |
|---|---|---|
| Overall Pros | Professional ECN accounts with floating spreads from 0.1 pips | Correspondence to the A-Book model, STP (straight-through processing) and ECN technologies for processing client orders and pin spreads with instant market execution with minimal slippage in both directions |
| popular trading platforms MT4 and MT5, mobile apps and web terminals compatible with various OS and browsers | ||
| several options for passive earnings including a service for copying trades, PAMM accounts, and an affiliate program | ||
| 20,000+ CFD Products across six asset classes | ||
| supervised by over 10 financial regulators worldwide across various jurisdictions | ||
| Overall Cons | trading restrictions on scalping | |
| Limited education and research | ||
| High inactivity fee |
MultiBank vs LiteForex: Safety and Regulation
| Regulated By: | MultiBank | LiteForex |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
No |
No |
CySec (Cyprus, EU) |
No |
Yes |
ASIC (Australia) |
Yes |
No |
Other Regulators |
AUSTRAC (Australia), BAFIN (Germany), CNMV (Spain), FMA (Liechtenstein), SMA (Singapore) TFG, HKCE, VFSA (Vanuatu), CIMA. |
European MiFID directive (license No. 093/08) |
MultiBank vs LiteForex: Trading Conditions
| Trading Conditions | MultiBank | LiteForex |
|---|---|---|
Minimum Deposit |
$50 |
$50 |
Trading Platforms |
MT4, MT5, WebTrader, Mobile app |
MT4, MT5, MultiTerminal, Sirix Webtrader |
Max Leverage (Futures) |
1-500 (no for all markets, EU, AU - 1-30, please look for your regulator rules) |
1-500 |
Supported Markets |
Forex, Metals, Shares, Indices, Commodities, Cryptocurrencies |
Forex, assets of stock and commodity markets, cryptocurrencies |
Trading assets |
20000+ |
200+ |
Trading Accounts |
Pro, ECN, Standard, Demo |
Demo, Classic, ECN |
Base Account Currencies |
USD, GBP, EUR, CHF, AUD, AED, NZD, CAD |
USD, EUR, CHF, MBT |
MultiBank vs LiteForex: Fees
Forex Trading Fees
| Fee | MultiBank | LiteForex |
|---|---|---|
Standard Account EURUSD Average Spread |
1.7 pips |
1.8 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
$3 per lot |
$5 per lot |
ECN Account EUR Average Spread |
0.1 pips |
0.1 pips |
CFD Trading Fees
| Fee | MultiBank | LiteForex |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
| Fee | MultiBank | LiteForex |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
No |
2-3% |
Inactivity Fee |
$60 per quarter after 3 months of inactivity |
0%. Accounts are archived after three months of inactivity but can be recovered |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
MultiBank vs LiteForex: Trading Assets
| Asset Name | MultiBank | LiteForex |
|---|---|---|
Overall |
20000+ |
200+ |
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 |
ETFs |
No |
No |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
No |
No |
Binary Options |
No |
No |
MultiBank or LiteForex: Investment Programs
| Asset Name | MultiBank | LiteForex |
|---|---|---|
Copy Trading |
Yes |
Yes |
MAM/PAMM |
Yes |
No |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: LiteForex or MultiBank
| MultiBank | LiteForex | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
Yes |
cTrader |
No |
No |
Appropriate platform |
No |
No |
Others |
No |
SiriX Webtrader |
|
|
|
MultiBank vs LiteForex: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | MultiBank | LiteForex |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes |
Crypto |
Yes |
Yes |
MultiBank vs LiteForex: Research
| Research Type | MultiBank | LiteForex |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
No |
No |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
No |
Yes |
E-Mail Reports |
NO |
No |
MultiBank vs LiteForex: Education
| Education Type | MultiBank | LiteForex |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
No |
Yes |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Cent account |
No |
No |
LiteForex vs MultiBank: Support
| Support Features | MultiBank | LiteForex |
|---|---|---|
Working Days |
24/5 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
FB Messenger, Telegram |
MultiBank vs LiteForex: Forex Bonuses and Promo
| Promo | MultiBank | LiteForex |
|---|---|---|
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. |
This multilevel affiliate program allows you to get remuneration up to $50 for each client (referral) + 10% of the sub-partner's profit. |
Other Promos |
ZERO Fees — reimbursement to the trading account by the debited payment system for the transfer of a commission via replenishment or withdrawal |
|
|
|
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Top 5 Reviews on LiteForex
-
Comment
I have been seeing post everywhere and a lot of people keep saying reach out to them and eventually I did and it turned out to be legit. now my lost bitcoin is recovered, they have the best bitcoin trading and funds recovery software, Thank you victimsrecoveryeducation@cyberservices.com
-
Comment
I'm happy with LiteForex. The quality of the trading platform is normal. There are requotes, but they are quite rare. I withdrew $500 for the first time without any delays. I can remember one negative thing: there was disconnection from the server, which lasted more than 3 minutes. LiteForex support has resolved this issue and I hope that there will be no more problems like this.
-
Comment
Lite Forex is a very bad broker. I traded with it last year and it kept getting worse and worse with each trade. Stop losses were placed due to the spontaneous expansion of spreads, increase and change into negative swaps on some popular trading assets. There were no good specialists in technical support who could solve the problem. I advise you to run away from Lite Forex.
-
Comment
If you got here, quit trading with LiteForex. You won't earn anything here, you'll only lose your money. I tried to trade with LiteForex twice and lost my deposit both times. You open a trade, but it constantly goes against you. Even if there is a trend. There is an expiration in the negative, and then the price moves normally. You rush to open a trade again and the situation repeats. This is not trading, but torture.
-
Comment
Spikes that destroy your stops are a normal occurrence on the LiteForex platform. It’s okay if there is multidirectional movement in the market. But when there is a stable trend, a 50-pip spike in the opposite direction is a common occurrence for them. And I think that LiteForex manipulates this situation.
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.