MultiBank vs Spreadex - Fees Review included
Which broker is better MultiBank or Spreadex? 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. Spreadex is one of the top brokers in the financial market with the TU Overall Score of 4.45 out of 10. Find out more about TU Overall Score.
| Feature | MultiBank | Spreadex |
|---|---|---|
Overall |
4.2 |
2.8 |
4.9 |
3.8 |
|
4.0 |
3.1 |
|
4.8 |
3.8 |
|
Investment Instruments |
4.8 |
1 |
Platforms and Charting Tools |
3.9 |
3.3 |
Deposit and Withdrawal |
4.3 |
3 |
Research |
3.1 |
3.1 |
Education |
2.8 |
3 |
Support |
4.1 |
3.2 |
Bonuses |
4.3 |
2 |
|
|
MultiBank vs Spreadex: 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.
Spreadex is a CFD and Forex broker that has been operating since 1999. The platform offers clients access to six classes of trading instruments. Here you can trade currency pairs (Forex) and contracts for difference (CFDs) on stocks, bonds, indices, commodities, and ETFs. Spreadex is headquartered in the UK and is regulated by the UK Financial Conduct Authority (FCA). Betting on sports is a secondary activity of the company.
| MultiBank | Spreadex | |
|---|---|---|
| Overall Pros | Professional ECN accounts with floating spreads from 0.1 pips | Tight spreads (from 0.6 pips for EUR/USD). |
| popular trading platforms MT4 and MT5, mobile apps and web terminals compatible with various OS and browsers | Withdrawal fee - 0%. | |
| several options for passive earnings including a service for copying trades, PAMM accounts, and an affiliate program | Free broker analytics. | |
| 20,000+ CFD Products across six asset classes | 3,500+ trading instruments | |
| supervised by over 10 financial regulators worldwide across various jurisdictions | Minimum deposit from USD 2. | |
| Overall Cons | trading restrictions on scalping | There are no investment instruments. |
| Limited education and research | Support is not 24/7. | |
| High inactivity fee |
MultiBank vs Spreadex: Safety and Regulation
| Regulated By: | MultiBank | Spreadex |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
No |
Yes |
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. |
No |
MultiBank vs Spreadex: Trading Conditions
| Trading Conditions | MultiBank | Spreadex |
|---|---|---|
Minimum Deposit |
$50 |
$2 |
Trading Platforms |
MT4, MT5, WebTrader, Mobile app |
Spreadex (desktop, Android, iOS, Webtrader) |
Max Leverage (Futures) |
1-500 (no for all markets, EU, AU - 1-30, please look for your regulator rules) |
1-30 |
Supported Markets |
Forex, Metals, Shares, Indices, Commodities, Cryptocurrencies |
Currency pairs, CFDs on stocks, indices, commodities, bonds, ETFs |
Trading assets |
20000+ |
3500+ |
Trading Accounts |
Pro, ECN, Standard, Demo |
Standard |
Base Account Currencies |
USD, GBP, EUR, CHF, AUD, AED, NZD, CAD |
USD, EUR, GBP |
MultiBank vs Spreadex: Fees
Forex Trading Fees
| Fee | MultiBank | Spreadex |
|---|---|---|
Standard Account EURUSD Average Spread |
1.7 pips |
1.15 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 | Spreadex |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
| Fee | MultiBank | Spreadex |
|---|---|---|
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 Spreadex: Trading Assets
| Asset Name | MultiBank | Spreadex |
|---|---|---|
Overall |
20000+ |
3500+ |
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 |
Yes (CFD) |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
No |
No |
Binary Options |
No |
No |
MultiBank or Spreadex: Investment Programs
| Asset Name | MultiBank | Spreadex |
|---|---|---|
Copy Trading |
Yes |
No |
MAM/PAMM |
Yes |
No |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: Spreadex or MultiBank
| MultiBank | Spreadex | |
|---|---|---|
MT4 |
Yes |
No |
MT5 |
Yes |
No |
cTrader |
No |
No |
Appropriate platform |
No |
Spreadex |
Others |
No |
No |
|
|
MultiBank vs Spreadex: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | MultiBank | Spreadex |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
No |
Crypto |
Yes |
No |
MultiBank vs Spreadex: Research
| Research Type | MultiBank | Spreadex |
|---|---|---|
News Feed |
Yes |
No |
Fundamental Data |
No |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
No |
No |
E-Mail Reports |
NO |
No |
MultiBank vs Spreadex: Education
| Education Type | MultiBank | Spreadex |
|---|---|---|
Demo-account/Paper Trading |
Yes |
No |
Webinars |
No |
No |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Cent account |
No |
No |
Spreadex vs MultiBank: Support
| Support Features | MultiBank | Spreadex |
|---|---|---|
Working Days |
24/5 |
8/7 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
No |
MultiBank vs Spreadex: Forex Bonuses and Promo
| Promo | MultiBank | Spreadex |
|---|---|---|
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. |
Yes |
Other Promos |
||
|
|
Top 5 Reviews on Spreadex
-
Comment
Spreadex is not bad, but it is not suitable for scalping or robot trading. Spreads are high, execution is not very good, and there are still many restrictions. Well, at least there is regulation, and that’s good, but I think that the company is not suitable for large amounts.
-
Comment
- you put it in growth, it immediately falls, creeps down, put it down - immediately turn and in growth! So guys, draw your own conclusions...
-
Comment
The broker's employees are not the most pleasant impression. Whatever question you ask, they don't know. They report in a pattern. It seems to me that in order for me to trust a company, I should not have distrust of its employees. And it has arisen.
-
Comment
The lack of a demo upset me, because I wanted to test the author's Spreadex platform before opening a real account. Unfortunately, you can't bargain for cents either. But I decided to take the risk anyway to work with an FCA regulated broker. There are no deposit requirements - just $ 2 is needed. 30x leverage is enough for me, but it's the maximum if it's important to someone. Now about commissions. I don't trust brokers who promise spreads up to 1 pip without extra. boards. As I expected, Spreadex also indicated the minimum values on its website - 0.6 points was not even in the best scenario. The real spread for the Eurodollar is 1.5-2.5 points. The broker does not charge a commission for withdrawal.
-
Comment
The FCA license gives Spreadex substantial weight, and its longevity as a brokerage company further increases its rating. I have about $35,000 on my account here, I'm not afraid that the broker will throw me off. I trade mainly through a mobile application, I carry out technical analysis on a different platform. All payments go through the bank, and the broker does not take a very large commission. I think it is possible to cooperate with Spreadex.
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.