FinecoBank vs MultiBank Comparison
Weโve made it easy to compare the best forex brokers, side-by-side. Our editorial team has collected thousands of data points, written hundreds of thousands of words of research, and tested over 60 brokers to help you find the best forex brokers in the industry. Our research is unbiased and independent; learn more about how we test. That same research and data powers our broker comparisons. Let's compare FinecoBank vs MultiBank.
Can I trust FinecoBank?
Fineco Bank is publicly traded and does operate a bank. Fineco Bank is authorised by three Tier-1 regulators (Highly Trusted), zero Tier-2 regulators (Trusted), zero Tier-3 regulators (Average Risk), and zero Tier-4 regulators (High Risk). Fineco Bank is authorised by the following Tier-1 regulators: Australian Securities & Investment Commission (ASIC), Financial Conduct Authority (FCA), and regulated in the European Union via the MiFID passporting system.
Can I trust MultiBank?
MultiBank Group is not publicly traded, does not operate a bank, and is authorised by three Tier-1 regulators (Highly Trusted), one Tier-2 regulator (Trusted), zero Tier-3 regulators (Average Risk), and three Tier-4 regulators (High Risk). MultiBank Group is authorised by the following Tier-1 regulators: the Australian Securities & Investment Commission (ASIC), Monetary Authority of Singapore (MAS, and regulated in the European Union via the MiFID passporting system.
Is FinecoBank good?
FinecoBank is a trusted multi-asset broker offering forex and CFDs across its brands regulated in the U.K. and Italy. However, unless you visit a physical branch as a citizen of the EU โ or you are a resident of Italy or the U.K. โ you will not be permitted to open an online account with FinecoBank.
Is MultiBank good?
MultiBank Group, in operation since 2005, is home to numerous global brands and regulated in jurisdictions all over the world. A multi-asset broker, MultiBank offers forex and CFDs through the MetaTrader and cTrader platform suites (though not all markets are readily available) as well as underlying crypto assets via its regulated crypto exchange.
On the negative side, the brokerโs market research offering is unimpressive and educational content is entirely absent; MultiBankโs poor performance in these important categories drags down its Overall rating.
What is the minimum deposit requirement for opening an account with FinecoBank?
To open a trading account with FinecoBank, you'll need to make an initial minimum deposit of $0.
What is the minimum deposit requirement for opening an account with MultiBank?
MultiBank requires a minimum deposit of $50 before you can open an account and start trading.
What funding options does each broker offer?
It's important to make sure that your forex broker accepts the funding options and deposit methods that work best for you. FinecoBank offers Bank Wire (Deposit/Withdraw) for banking, whereas MultiBank provides Visa/Mastercard (Credit/Debit), Bank Wire (Deposit/Withdraw), Skrill (Deposit/Withdraw) and Neteller (Deposit/Withdraw). Neither have PayPal (Deposit/Withdraw).
Does FinecoBank or MultiBank offer lower pricing?
Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spread data, and pricing structures vary. Based on our thorough, data-driven testing of each broker's commissions and fees, we found that MultiBank offers better pricing overall for traders.
Methodology: When testing each broker's commissions, fees, and pricing, we analyze multiple trade scenarios and award points based on the expansiveness (or inexpensiveness) of the broker's spreads. We then run multiple scenarios for different investor types, incorporating any miscellaneous fees, to determine an "all-in" cost per trade. Learn more about how we test.
Is FinecoBank or MultiBank safer for forex and CFDs trading?
At ForexBrokers.com, we track over 110 international regulatory agencies and sort them by tiers (Tier-1, Tier-2, Tier-3, Tier-4, and Tier-5) to help you choose well-regulated, highly trusted forex brokers. Learn more about our proprietary Trust Score rating system. Based on our research on the regulatory status of over 60 brokers, we've found that MultiBank holds 3 global Tier-1 licenses, while FinecoBank holds 2. MultiBank holds 1 global Tier-2 licenses, while FinecoBank holds 0.
After evaluating each broker based on their number of held licenses, years in business, and a range of other data-driven variables, we've determined that FinecoBank (94) earned a higher Trust Score than MultiBank (84).
Which trading platform is better: FinecoBank or MultiBank?
To compare the trading platforms of both FinecoBank and MultiBank, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, FinecoBank offers a better experience. With research, FinecoBank offers superior market research. Finally, we found MultiBank to provide better mobile trading apps.
Hereโs what trading platforms are available at FinecoBank:
- Proprietary Platform - Yes
- Web Platform - Yes
- cTrader - No
- DupliTrade - No
- MT4 - No
- MT5 - No
- ZuluTrade - No
- TradingView - No
Hereโs what trading platforms are available at MultiBank:
- Proprietary Platform - Yes
- Web Platform - Yes
- cTrader - No
- DupliTrade - No
- MT4 - Yes
- MT5 - Yes
- ZuluTrade - No
- TradingView - No
What about MetaTrader? How about copy trading?
The MetaTrader trading platform suite is wildly popular among forex and CFD traders across the globe. MultiBank offers MetaTrader 4 (MT4), while FinecoBank does not. Forex traders also appreciate the ability to engage in social copy trading. While MultiBank offers copy trading, FinecoBank does not.
What can I trade with each broker?
FinecoBank provides traders 54 currency pairs (e.g., EUR/USD) compared to MultiBank's 40 available pairs. If you are interested in trading a full range of securities, FinecoBank offers traders access to 9770 tradeable symbols, while MultiBank offers access to 1042 tradeable symbols; so FinecoBank offers 8728 more tradeable symbols than MultiBank.
We found in our testing that FinecoBank offers a more diverse selection of investment options than MultiBank, allowing you to trade Forex Trading (Spot or CFDs), U.S. Stocks (CFD) and Int'l Stock Trading (Non CFD). Neither have Spread Betting.
Overall winner: FinecoBank
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We review each brokerโs overall global offering โ a โYesโ checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.