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 |
FinecoBank's approach to trading costs leaves investors without clear guidance due to the lack of published average spread data for forex and CFD trading. The broker lists a spread of 1 pip for the EUR/USD pair. However, without specifying if this is an average spread or providing a corresponding date range, evaluating its competitiveness becomes challenging. The spread for the EUR/USD pair may also drop to 0.8 pips, but again, definitive average values aren't specified. Nonetheless, FinecoBank seems to offer more competitive spreads on its index CFDs. FinecoBank's commissions and fees receive a rating of 3.5 stars and rank #50 out of 62 brokers according to ForexBrokers.com.
In contrast, MultiBank provides more transparency and flexibility with its three account types for forex and CFD trading: Standard, Pro, and ECN. The Standard account, although accessible with a $50 minimum deposit, comes with higher spreads and might be less appealing for experienced traders. MultiBank's Pro account strikes a balance with a $1,000 minimum deposit and lower spreads compared to the Standard account. For traders seeking the best value, the ECN account offers the lowest spreads available at MultiBank but requires a $10,000 minimum deposit alongside a small round-trip commission of $3 per trade. MultiBank also charges a $60 inactivity fee if an account remains dormant for 90 days. MultiBank excels with a 4-star rating for commissions and fees and ranks #38 among 62 brokers as per ForexBrokers.com.
When evaluated for commissions and fees, MultiBank emerges as a preferable choice with a higher rating and rank, offering more transparency and flexibility for traders compared to FinecoBank. The variety in account types and spread options makes MultiBank suitable for traders of different skill levels and investment capacities, albeit with the consideration of non-trading fees like the inactivity charge.
| 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.
FinecoBank and MultiBank both offer forex trading through CFDs or spot contracts, yet FinecoBank shines with a significantly larger selection of tradeable symbols, boasting 9,770 compared to MultiBank's 1,042. When it comes to forex pairs, FinecoBank provides 54 options whereas MultiBank offers 40. A major differentiator is FinecoBank's ability to facilitate direct investment in exchange-traded securities on U.S. and international exchanges, allowing clients to purchase shares like Apple or Vodafone without the use of CFDs. MultiBank does not provide this capability, focusing primarily on CFDs.
While MultiBank supports copy trading and the purchase of actual cryptocurrencies and derivatives, FinecoBank does not offer these services. Despite this, FinecoBank's extensive range of investments results in a higher rating of 4.5 stars compared to MultiBank's 4 stars for investment variety. Furthermore, FinecoBank is notably ranked 16th among 62 brokers in the Range of Investments category by ForexBrokers.com, surpassing MultiBank which is ranked 37th. Both brokers have distinct offerings, but FinecoBank appeals to those seeking access to a wide array of directly traded securities. Meanwhile, MultiBank could be more attractive for those interested in crypto transactions and copy trading features.
| 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.
FinecoBank and MultiBank each offer unique strengths when it comes to trading platforms and tools, catering to different trader needs. FinecoBank boasts an in-house developed platform and supports trading on Windows-based desktops and through web browsers. While it lacks a simulated trading environment, it offers a solid selection of 7 charting drawing tools but does not enable trading directly from stock charts. Its approach may appeal to those seeking a more straightforward trading experience without extras like copy trading and platforms like MetaTrader 4 and 5. With a rating of four stars, FinecoBank secures the 18th position out of 62 brokers as per ForexBrokers.com, marking it as a noteworthy choice for its trading tools.
On the other hand, MultiBank offers a wide array of features that enhance its appeal to traders wanting more advanced tools. In addition to a proprietary platform, it supports a Windows-based desktop application and a web-based platform. Unlike FinecoBank, MultiBank allows simulated trading with a virtual demo account, offers copy trading, and supports both MetaTrader 4 and 5. It also excels with 17 drawing tools for charting and facilitates trading directly from stock charts. Furthermore, MultiBank's watch lists include up to 7 customizable fields. Rated equally with four stars, MultiBank ranks 39th in ForexBrokers.com's assessment, reflecting its comprehensive and versatile platform offerings.
| 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.
When comparing the mobile trading apps of FinecoBank and MultiBank, both platforms are available on iPhone and Android, providing users the flexibility to access trading services on popular smartphone operating systems. Each app grants users stock or forex price alerts to help stay updated with market changes. However, neither allows watchlist symbol syncing, which means changes made in the app don’t automatically reflect in the online account and vice versa. When it comes to technical studies for charting, FinecoBank offers 6 options while MultiBank provides a more extensive selection of 30 studies.
Although both apps let users view multiple time frames on stock or forex charts, MultiBank goes a step further by allowing trendline drawings and saving those as well. Additionally, MultiBank users can create watchlists with real-time quotes, a feature missing in FinecoBank's app. Despite these differences in features, both apps have received a 4-star rating for mobile trading, with MultiBank slightly ahead in the ForexBrokers.com rankings, coming in at 41st compared to FinecoBank at 42nd out of 62 brokers.
| 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 cater to investors seeking reliable forex news, providing updates from respected sources like Bloomberg and Reuters. However, neither broker offers daily market commentary or advanced research tools from partners such as Autochartist or Trading Central, which might be a consideration for those interested in in-depth market analytics. Moreover, sentiment-based tools and insights from company TipRanks are also absent from both platforms, potentially limiting the depth of their market research offerings. On the other hand, each broker provides access to an economic calendar, keeping traders informed of significant global events.
When comparing their performance in the Research category, FinecoBank scores higher, with a 4.0-star rating, whereas MultiBank receives 3.5 stars. This difference in rating is reflected in their rankings by ForexBrokers.com, with FinecoBank standing at the 33rd position and MultiBank at the 49th out of 62 brokers. For those prioritizing research capabilities, FinecoBank appears to offer a slightly better experience, although both provide foundational tools necessary for staying updated in dynamic trading environments.
| 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.
For those new to trading, choosing the right online broker with ample educational resources can make a significant difference. FinecoBank and MultiBank offer different strengths when it comes to learning tools for beginners. FinecoBank provides a series of monthly educational webinars specifically tailored to enhance client understanding, complemented by a handy investor dictionary defining over 50 essential investing terms. Moreover, their library includes over 10 beginner-focused educational videos, making them a helpful choice for those just starting. However, FinecoBank falls short when it comes to diverse content on forex or CFDs education, offering less material in comparison to some competitors.
On the other hand, MultiBank shines in providing a broad selection of educational materials focused on forex and CFDs, surpassing the minimum threshold of 10 resources such as articles and videos. They also provide more than 10 beginner-oriented videos to aid new traders' journeys. While MultiBank doesn’t hold online webinars or offer an extensive dictionary like FinecoBank, they still maintain a reasonable reputation in the educational domain with a 3.5-star rating. Thus, while FinecoBank may appeal to beginners looking for structured and interactive learning, MultiBank might be better suited for those keen on exploring a wider array of forex and CFDs resources.
| 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 62 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
|
MultiBank
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 94 | 84 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platform & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
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.
Select Brokers
↓×Compare
0 of 5| Overall Rating | FinecoBank | MultiBank | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platform & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 94 | 84 | |
| Winner | check_circle | ||
| Review | FinecoBank Review | MultiBank Review |
| Broker Screenshots | FinecoBank | MultiBank | |
|---|---|---|---|
| Trading Platforms Gallery (click to expand) |
|
| |
| Mobile Trading Gallery (click to expand) |
|
| |
| Research Gallery (click to expand) |
|
| |
| Education Gallery (click to expand) |
|
|
| 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 | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platform & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 94 | 84 | |
| Winner | check_circle | ||
| Review | FinecoBank Review | MultiBank Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill