Written by ForexBrokers.com
In this head to head comparison of FinecoBank vs MultiBank, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
When comparing the online brokers FinecoBank and MultiBank, a few key differences emerge that could guide your decision. Established in 1999, FinecoBank is both a public entity and operates as a bank, adding layers of assurance to its service. Its standing is further solidified by holding two Tier-1 licenses and an impressive Trust Score of 94 out of 99 according to ForexBrokers.com, indicating a high level of trust. As a publicly traded institution, FinecoBank's transparency can appeal to investors seeking reassurance in the robustness of their chosen broker.
On the other hand, MultiBank was founded in 2005 and differs from FinecoBank primarily by not being publicly traded or registered as a bank. Despite these differences, MultiBank holds three Tier-1 licenses, which indicates a high level of regulatory trust. Additionally, it possesses a single Tier-2 license, contributing to its respectable Trust Score of 84. This diverse license portfolio suggests MultiBank is a trusted choice, catering to those who prioritize regulatory security yet might not require the reassurance of investing with a publicly listed company.
| Feature |
FinecoBank
|
MultiBank
|
|---|---|---|
| Year Founded | 1999 | 2005 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 2 | 3 |
| Tier-2 Licenses | 0 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 3 |
When comparing the commissions and fees of online brokers FinecoBank and MultiBank, several differences emerge. FinecoBank offers forex and CFD trading, but does not disclose its average spread data, making it challenging to determine its comprehensive trading costs. The broker lists spreads of 1 pip and 0.8 pips for EUR/USD, but these are not defined as average values and lack a specified time frame. Despite this, FinecoBank might deliver more competitive spreads when it comes to index CFDs. FinecoBank's performance in this area is reflected in its 3.5-star rating for commissions and fees, placing it at #51 out of 63 brokers evaluated by ForexBrokers.com.
On the other hand, MultiBank provides three account types across its global entities: Standard, Pro, and ECN. Each account type caters to different trading needs, with the Standard account requiring a $50 deposit and offering higher spreads. The Pro account, with a $1,000 deposit, offers more attractive spread rates. For the lowest spreads, traders can opt for the ECN account, which necessitates a $10,000 deposit and involves a $3 commission per trade. MultiBank also enforces a $60 monthly inactivity fee if an account remains dormant for 90 days. MultiBank's approach to commissions and fees earns it a 4-star rating, ranking it at #38 out of the same 63 brokers reviewed by ForexBrokers.com.
| Feature |
FinecoBank
|
MultiBank
|
|---|---|---|
| Minimum Deposit | $0 | $50 |
| Average Spread EUR/USD - Standard | N/A | N/A |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | No | No |
| ACH or SEPA Transfers | Yes | Yes |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When considering the range of investment opportunities available at FinecoBank and MultiBank, FinecoBank stands out with an impressive offering. FinecoBank provides its clients access to 9,770 tradeable symbols, including 54 forex pairs, and allows direct investment in securities on both U.S. and international exchanges. This means investors can buy shares of companies like Apple and Vodafone directly. However, FinecoBank does not offer copy trading services or cryptocurrency trading in any form.
On the other hand, MultiBank offers a more focused selection with 1,042 tradeable symbols and 40 forex pairs. Although it does not provide direct investment in exchange-traded securities, such as stocks available on the NASDAQ or international exchanges, MultiBank supports both actual cryptocurrency purchases and derivatives, alongside a popular copy trading feature. Despite a slightly lower rating in the range of investments, MultiBank delivers unique advantages for those interested in digital assets and social trading. FinecoBank is rated with 4.5 stars, ranking 16th out of 63 brokers for the range of investments, compared to MultiBank's 4-star rating and 37th position.
| Feature |
FinecoBank
|
MultiBank
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 9770 | 1042 |
| Forex Pairs (Total) | 54 | 40 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | No | Yes |
| Cryptocurrency (Physical) | No | Yes |
| Cryptocurrency (Derivative) | No | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
When comparing trading platforms and tools, FinecoBank and MultiBank have their distinct strengths. FinecoBank offers a proprietary trading platform, compatible with Windows and accessible via the web, providing a user-friendly experience. However, it lacks some popular features such as simulated trading accounts and support for MetaTrader 4 (MT4) and MetaTrader 5 (MT5). It also does not support copy trading or direct trading from stock charts. FinecoBank offers a limited number of 7 drawing tools but does not disclose the number of technical indicators available for charting. As a result, FinecoBank has earned a solid 4-star rating in the trading platforms and tools category, ranking at #18 out of 63 brokers according to ForexBrokers.com.
MultiBank also features a proprietary trading platform with options for Windows and web-based access. Unlike FinecoBank, MultiBank offers a free virtual demo account for practice trading, making it more suitable for beginners or those wanting to test strategies without risk. MultiBank shines with its comprehensive options, including support for MT4 and MT5, copy trading features, and the ability to trade directly from stock charts. With 17 drawing tools and 7 columns for watch lists, MultiBank provides ample customization options for traders. Despite these features, it shares a similar 4-star rating with FinecoBank but ranks lower at #39 in the ForexBrokers.com list.
| Feature |
FinecoBank
|
MultiBank
|
|---|---|---|
| Virtual Trading (Demo) | No | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 37 | 38 |
| Charting - Drawing Tools (Total) | 7 | 17 |
| Charting - Trade From Chart | No | Yes |
| Watchlists - Total Fields | N/A | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
For traders considering mobile trading apps, both FinecoBank and MultiBank offer solutions compatible with iPhone and Android devices, allowing users to trade forex and stocks on the go. Both apps provide stock and forex price alerts to keep users updated on market movements. However, neither of these platforms supports watchlist symbol syncing, which means any changes in your watchlist on mobile won't reflect automatically on your online account. Meanwhile, FinecoBank App users might find themselves limited with just 6 technical studies for charting, compared to MultiBank's more extensive offering of 30 studies.
When it comes to drawing capabilities and watchlist features, MultiBank's app surpasses FinecoBank's. Only MultiBank allows users to draw trendlines and automatically save these drawings on charts. Additionally, MultiBank's app enables users to create watchlists with real-time quotes, a feature FinecoBank lacks. Both apps offer multiple time frame views, which is beneficial for analyzing stock or forex trends. Despite their differences, both apps receive a solid 4-star rating, with MultiBank ranking slightly higher at #41 compared to FinecoBank’s #42 among 63 brokers, according to ForexBrokers.com.
| Feature |
FinecoBank
|
MultiBank
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 6 | 30 |
| Mobile Charting - Draw Trendlines | No | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | No | Yes |
| Mobile Watchlist | No | Yes |
Dive deeper: Best Forex Trading Apps.
FinecoBank and MultiBank both offer daily market commentary and relevant financial insights tailored for forex traders. They provide forex news from reliable sources like Bloomberg and Reuters, keeping investors informed about market dynamics. However, both brokers lack integration with well-known research utility providers such as Autochartist, Trading Central, and Acuity Trading. Additionally, sentiment-based trading tools, showing the ratio of long and short positions, are not available on either platform. Neither broker includes research from TipRanks, which might be a consideration for traders looking for comprehensive analysis.
Both FinecoBank and MultiBank provide economic calendars that display key global news events, helping traders stay updated on influential market shifts. When it comes to research ratings, FinecoBank outperforms MultiBank with a 4.0-star rating compared to MultiBank's 3.5 stars. In the ForexBrokers.com ranking, FinecoBank holds a stronger position at 33rd place out of 63 brokers, whereas MultiBank ranks 49th in the research category. This suggests that FinecoBank offers slightly better research tools and services than MultiBank, crucial for traders making informed decisions.
| Feature |
FinecoBank
|
MultiBank
|
|---|---|---|
| Daily Market Commentary | No | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | No | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, FinecoBank and MultiBank offer different strengths. FinecoBank provides a solid library of beginner videos, making it easier for newcomers to understand the basics of trading. They also host monthly webinars to foster ongoing learning, although these sessions are not made available for later viewing. Additionally, FinecoBank offers an investor dictionary that helps beginners understand essential investment terms. While their advanced educational materials are limited, FinecoBank's educational offerings earn them a 4.0-star rating and a rank of #49 out of 63 brokers from ForexBrokers.com.
MultiBank focuses on offering comprehensive materials specifically about forex and CFDs, with over 10 pieces of content available for learners. Unlike FinecoBank, MultiBank does not provide regular webinars but does have a solid selection of beginner videos, much like their competitor. However, the absence of an investor dictionary is a downside for users seeking to grasp investment terminology. Despite these limitations, MultiBank manages to secure a 3.5-star rating and a rank of #50 in the Education category by ForexBrokers.com. For beginners deciding between the two, the choice might depend on the specific educational tools they value most in their learning journey.
| Feature |
FinecoBank
|
MultiBank
|
|---|---|---|
| Education (Forex or CFDs) | No | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | No | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | No | No |
| Investor Dictionary (Glossary) | Yes | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that FinecoBank is better than MultiBank. FinecoBank finished with an overall rank of #25, while MultiBank finished with an overall rank of #40.
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 – or you are a resident of Italy or the U.K. – you will not be permitted to open an online account with FinecoBank.
| Feature |
FinecoBank
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MultiBank
|
|---|---|---|
| Overall Rating |
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| Trust Score | 94 | 84 |
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FinecoBank does not support the purchase of actual cryptocurrencies or cryptocurrency derivatives, whereas MultiBank offers the ability to buy both actual cryptocurrencies and cryptocurrency derivatives, providing a more comprehensive range of options for cryptocurrency trading.
While both FinecoBank and MultiBank facilitate ACH or SEPA transfers and bank wires for depositing and withdrawing funds, only MultiBank additionally supports Skrill and offers the convenience of using Visa or Mastercard, whereas neither broker provides PayPal as an option.
Please note:
We review each broker’s overall global offering – a “Yes” 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.
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0 of 5| Overall Rating | FinecoBank | MultiBank | |
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| Trust Score | 94 | 84 | |
| Winner | check_circle | ||
| Review | FinecoBank Review | MultiBank Review |
| Broker Screenshots | FinecoBank | MultiBank | |
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| Regulation | FinecoBank | MultiBank | |
|---|---|---|---|
| Trust Score | 94 | 84 | |
| Year Founded | 1999 | 2005 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 2 | 3 | |
| Tier-2 Licenses | 0 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 3 |
| Tier-1 Licenses (Highly Trusted) | FinecoBank | MultiBank | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | Yes | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | FinecoBank | MultiBank | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | No | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | FinecoBank | MultiBank | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 9770 | 1042 | |
| Forex Pairs (Total) | 54 | 40 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | No | Yes | |
| Cryptocurrency (Physical) | No | Yes | |
| Cryptocurrency (Derivative) | No | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | FinecoBank | MultiBank | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | N/A | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | No | Yes |
| Funding | FinecoBank | MultiBank | |
|---|---|---|---|
| Minimum Deposit | $0 | $50 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | Yes |
| Trading Platforms | FinecoBank | MultiBank | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | FinecoBank | MultiBank | |
|---|---|---|---|
| Virtual Trading (Demo) | No | Yes | |
| Alerts - Basic Fields | No | Yes | |
| Watchlists - Total Fields | N/A | 7 | |
| Charting - Indicators / Studies (Total) | 37 | 38 | |
| Charting - Drawing Tools (Total) | 7 | 17 | |
| Charting - Trade From Chart | No | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FinecoBank | MultiBank | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | No | Yes | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 6 | 30 | |
| Mobile Charting - Draw Trendlines | No | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | FinecoBank | MultiBank | |
|---|---|---|---|
| Daily Market Commentary | No | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | No | |
| Economic Calendar | Yes | Yes |
| Education | FinecoBank | MultiBank | |
|---|---|---|---|
| Education (Forex or CFDs) | No | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | No | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | FinecoBank | MultiBank | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | FinecoBank Review | MultiBank Review |
| Overall | FinecoBank | MultiBank | |
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| Trust Score | 94 | 84 | |
| Winner | check_circle | ||
| Review | FinecoBank Review | MultiBank Review |
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