MultiBank vs Plus500 - Fees Review included
Which broker is better MultiBank or Plus500? 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. Plus500 is one of the top brokers in the financial market with the TU Overall Score of 6.83 out of 10. Find out more about TU Overall Score.
| Feature | MultiBank | Plus500 |
|---|---|---|
Overall |
4.2 |
3.7 |
4.9 |
4.9 |
|
4.0 |
4.4 |
|
4.8 |
4.4 |
|
Investment Instruments |
4.8 |
1 |
Platforms and Charting Tools |
3.9 |
3.3 |
Deposit and Withdrawal |
4.3 |
4.8 |
Research |
3.1 |
2.9 |
Education |
2.8 |
2.3 |
Support |
4.1 |
2.4 |
Bonuses |
4.3 |
2.1 |
|
|
MultiBank vs Plus500: 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.
Plus500 broker is owned by Plus500UK Ltd, a UK registered company with headquarters in London. The company is regulated by the FCA (UK Financial Conduct Authority). Plus500.com has been an active trading platform since 2008, where traders can trade more than two thousand financial assets. The broker provides its services in Asia and Europe, being also one of the fastest-growing companies that make it possible to trade CFD (contract for differences) contracts.
| MultiBank | Plus500 | |
|---|---|---|
| Overall Pros | Professional ECN accounts with floating spreads from 0.1 pips | Over 2000 trading CFD instruments |
| popular trading platforms MT4 and MT5, mobile apps and web terminals compatible with various OS and browsers | Advanced screeners and analysis tools | |
| several options for passive earnings including a service for copying trades, PAMM accounts, and an affiliate program | Free alert service | |
| 20,000+ CFD Products across six asset classes | Well regulated CFD broker | |
| supervised by over 10 financial regulators worldwide across various jurisdictions | ||
| Overall Cons | trading restrictions on scalping | Plus500 does not provide the possibility of passive earnings |
| Limited education and research | A ban on scalping, order hedging, and automated trading | |
| High inactivity fee | the broker does not cooperate with traders from Ukraine, the USA, and several other countries | |
| Broker don't offer ECN account | ||
| MT4/MT5 trading platforms are not supported |
MultiBank vs Plus500: Safety and Regulation
| Regulated By: | MultiBank | Plus500 |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
No |
Yes |
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. |
Authorised Financial Services Provider #47546 issued by the FSCA in South Africa., Plus500 holds a capital markets services license from the Monetary Authority of Singapore for dealing in capital markets products (License No. CMS100648-1), Regulated by the Seychelles Financial Services Authority (Licence No. SD039) |
MultiBank vs Plus500: Trading Conditions
| Trading Conditions | MultiBank | Plus500 |
|---|---|---|
Minimum Deposit |
$50 |
$100 |
Trading Platforms |
MT4, MT5, WebTrader, Mobile app |
WebTrader, Plus500 |
Max Leverage (Futures) |
1-500 (no for all markets, EU, AU - 1-30, please look for your regulator rules) |
1-300 |
Supported Markets |
Forex, Metals, Shares, Indices, Commodities, Cryptocurrencies |
CFDs on Forex, Stocks, Commodities, Metals, Cryptocurrencies, options and ETFs |
Trading assets |
20000+ |
2000+ |
Trading Accounts |
Pro, ECN, Standard, Demo |
Real, Demo |
Base Account Currencies |
USD, GBP, EUR, CHF, AUD, AED, NZD, CAD |
USD |
MultiBank vs Plus500: Fees
Forex Trading Fees
| Fee | MultiBank | Plus500 |
|---|---|---|
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 | Plus500 |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
| Fee | MultiBank | Plus500 |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
No |
No |
Inactivity Fee |
$60 per quarter after 3 months of inactivity |
$10 per month 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 Plus500: Trading Assets
| Asset Name | MultiBank | Plus500 |
|---|---|---|
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 |
No |
Mutual funds |
No |
No |
Stock options |
No |
Yes (CFD) |
Futures Trading |
No |
No |
Binary Options |
No |
No |
MultiBank or Plus500: Investment Programs
| Asset Name | MultiBank | Plus500 |
|---|---|---|
Copy Trading |
Yes |
No |
MAM/PAMM |
Yes |
No |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: Plus500 or MultiBank
| MultiBank | Plus500 | |
|---|---|---|
MT4 |
Yes |
No |
MT5 |
Yes |
No |
cTrader |
No |
No |
Appropriate platform |
No |
Plus500 |
Others |
No |
No |
|
|
MultiBank vs Plus500: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | MultiBank | Plus500 |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes |
Crypto |
Yes |
No |
MultiBank vs Plus500: Research
| Research Type | MultiBank | Plus500 |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
No |
Yes |
Chart Analysis |
Yes |
No |
Trading Ideas |
No |
No |
E-Mail Reports |
NO |
No |
MultiBank vs Plus500: Education
| Education Type | MultiBank | Plus500 |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
No |
No |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Cent account |
No |
No |
Plus500 vs MultiBank: Support
| Support Features | MultiBank | Plus500 |
|---|---|---|
Working Days |
24/5 |
24/7 |
Yes |
No |
|
Phone |
Yes |
No |
Online chat |
Yes |
Yes |
Other |
No |
No |
MultiBank vs Plus500: Forex Bonuses and Promo
| Promo | MultiBank | Plus500 |
|---|---|---|
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. |
An affiliate partner earns from $200 to $800 for a referred client who opened a trading account and started trading. The amount of remuneration varies depending on the partner's country of residence |
Other Promos |
||
|
|
Top 5 Reviews on Plus500
-
Comment
I took a risk and opened a trading account with Plus500. I'm trading in the black. I can say that I’m testing the company, checking it. I asked the support to make a report about a trade, whether they would do it or not. But they sent the report quickly, well done! We'll see what happens with withdrawals. I hope they won’t disappoint me here either)
-
Comment
Plus500 is a good broker. My money was withdrawn in 2 days. I don't communicate with the support team much — I have my own strategy and trading goes as it should. There are a lot of services to choose from. The analytics are good. The only disadvantage is that there were a few failures during a couple of months, but they did not affect my trading critically.
-
Comment
I have been working with Plus500 for a long time. If we evaluate it comprehensively, it’s not bad. There are little things that are not 100% satisfying, but overall, compared to other companies, it’s probably ok. I mean the quotes flow and precision of trades. The rest is fine. I get enough profit from regular trading.
-
Comment
I’ve been working with Plus500 for a few months, but my overall Forex experience is almost two years. I learned about Plus500 from a friend who traded there and recommended it to me. I can say that Plus500 is a normal broker with its strengths and weaknesses. Personally, I like that there are no delays in payments, which is very important to me.
-
Comment
Plus500 may experience payment delays. Once I waited a week. There is such a thing, I think all his clients are used to it))) Everything else is fine. Trade honestly passes, on this point there is nothing to complain about.
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.