Written by ForexBrokers.com
In this head to head comparison of MultiBank vs TopFX, 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.
MultiBank and TopFX are both online brokers, with MultiBank founded in 2005 and TopFX in 2010. Neither company is publicly traded or operates as a bank. When it comes to regulatory credentials, MultiBank holds three Tier-1 licenses, suggesting a high trust level. In comparison, TopFX holds one Tier-1 license. MultiBank also has one additional Tier-2 license, while TopFX has none, indicating an edge for MultiBank in regulatory oversight.
According to ForexBrokers.com, MultiBank earns a Trust Score of 84 out of 99, categorizing it as a trusted broker. On the other hand, TopFX has a Trust Score of 67, placing it in the high-risk category. This comparison suggests that MultiBank may offer a stronger trust factor in the competitive landscape of online trading.
| Feature |
MultiBank
|
TopFX
|
|---|---|---|
| Year Founded | 2005 | 2010 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 1 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 3 | 1 |
When comparing MultiBank and TopFX in terms of commissions and fees, both brokers offer a range of account types that cater to different trading needs. MultiBank provides three account options: Standard, Pro, and ECN. The Standard account, requiring a $50 minimum deposit, comes with higher spreads and might be suitable for beginners. In contrast, the Pro account demands a $1,000 minimum deposit and offers reduced spreads. For traders seeking the lowest spreads, the ECN account is ideal, with a $10,000 minimum deposit and a small round-trip commission of $3 per trade. Be aware that MultiBank also charges a $60 monthly inactivity fee if your account remains inactive for over 90 days.
TopFX offers two account types compatible with MetaTrader and cTrader: the spread-only ZERO account and the commission-based RAW account. The RAW account incurs a commission of 2.75 EUR per side, with average spreads of 0.33 pips on the EUR/USD, resulting in an all-in cost of roughly 0.88 pips, aligning with industry standards. Meanwhile, the ZERO account is commission-free but comes with higher average spreads, approximately 1.03 pips for the EUR/USD. The required minimum deposit varies depending on the payment method chosen by the trader.
In terms of ratings, both MultiBank and TopFX receive 4 out of 5 stars for their commissions and fees. However, when ranked among 63 brokers, MultiBank comes in at #38, slightly higher than TopFX, which is ranked at #40 according to ForexBrokers.com. This ranking reflects their competitive position within the industry, allowing traders to choose based on specific needs and preferences.
| Feature |
MultiBank
|
TopFX
|
|---|---|---|
| Minimum Deposit | $50 | Depends on payment method |
| Average Spread EUR/USD - Standard | N/A | 1.03 |
| All-in Cost EUR/USD - Active | N/A | 0.88 |
| Active Trader or VIP Discounts | No | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When evaluating MultiBank and TopFX for their range of investment options, both brokers provide a range of trading opportunities but with distinct differences. MultiBank stands out with an impressive offering of 1,042 tradeable symbols, surpassing TopFX's 655 symbols. While both brokers provide forex trading as CFDs or spot contracts, MultiBank offers 40 tradeable forex pairs, and TopFX expands this catalog with 60 pairs. It’s important to note that neither broker provides access to exchange-traded securities like those on U.S. or international exchanges, so direct stock investments in companies such as Apple or Vodafone are not available.
For cryptocurrency enthusiasts, MultiBank offers a more comprehensive choice, allowing clients to purchase actual cryptocurrencies and cryptocurrency derivatives, whereas TopFX only provides cryptocurrency derivatives. Both brokers support copy trading, which is a plus for those interested in mimicking successful trades. In terms of overall investment range, MultiBank receives a slightly higher rating of 4 stars compared to TopFX’s 3.5 stars. According to ForexBrokers.com, MultiBank ranks 37th out of 63 brokers, while TopFX trails at 46th, reflecting a modest difference in their offerings.
| Feature |
MultiBank
|
TopFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1042 | 655 |
| Forex Pairs (Total) | 40 | 60 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | Yes | No |
| Cryptocurrency (Derivative) | Yes | 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 MultiBank and TopFX in terms of trading platforms and tools, both brokers offer a wide range of features to support traders of all levels. MultiBank stands out by providing a proprietary platform developed in-house, while TopFX relies on third-party solutions. Both brokers allow trading on MetaTrader 4 (MT4), but only MultiBank extends its offerings to MetaTrader 5 (MT5), making it a more versatile choice for those seeking advanced features. Both MultiBank and TopFX grant access to Windows-based desktop platforms and web-based trading, as well as the ability to trade directly from stock charts. Additionally, both brokers offer the convenience of simulated trading through free virtual demo accounts, ensuring that users can test strategies without risk.
Copy trading is available with both MultiBank and TopFX, although neither supports DupliTrade or ZuluTrade. When it comes to charting tools, MultiBank offers an impressive 17 drawing tools, slightly edging out TopFX, which provides 15. Both brokers include seven columns for watch lists, giving traders a clear view of critical market data. Despite their feature-rich offerings, both multi-starred brokers receive an average rating of four stars for trading platforms and tools. According to ForexBrokers.com, MultiBank ranks slightly higher at #39 out of 63 brokers, while TopFX lands a few spots lower at #45, suggesting a marginal edge for MultiBank in this category.
| Feature |
MultiBank
|
TopFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 38 | 30 |
| Charting - Drawing Tools (Total) | 17 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of MultiBank and TopFX, both platforms provide convenient access for iPhone and Android users, ensuring flexibility no matter your device of choice. Each app supports stock and forex price alerts, beneficial for staying updated with market movements. Additionally, users can create watchlists with real-time quotes, which enhances the ability to track favored investments on-the-go. MultiBank and TopFX both offer charting capabilities with 30 technical studies, trendline drawing options, and multiple time frame views, allowing for a comprehensive analysis directly from your smartphone.
However, neither platform facilitates watchlist symbol syncing with a client’s online account, meaning updates made on the app won't automatically appear in your web account. Despite these similarities, MultiBank edges ahead with a slightly better ranking from ForexBrokers.com, positioned at #41 compared to TopFX's #51 ranking. Both apps earn a solid 4-star rating for their mobile trading capabilities, making them reliable choices for traders seeking powerful mobile solutions without unnecessary complexity.
| Feature |
MultiBank
|
TopFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When it comes to market research offerings, both MultiBank and TopFX bring some advantages to the table for traders. MultiBank and TopFX provide access to forex news from reputable sources like Bloomberg, Reuters, and Dow Jones, ensuring traders have access to crucial information for making informed decisions. Additionally, both brokers offer economic calendars that outline global news events, vital for planning trades around significant financial occurrences.
However, TopFX expands its research capabilities by including tools from Autochartist and Trading Central, which offer technical and fundamental analysis options. They also provide a sentiment-based trading tool for insights into market trends. In contrast, MultiBank lacks these additional tools but still secures a slightly higher research rating of 3.5 out of 5 stars compared to TopFX's 3 stars. Despite this, MultiBank is ranked 49th out of 63 brokers for research, while TopFX ranks 60th, showing a slight edge for MultiBank in the overall research category.
| Feature |
MultiBank
|
TopFX
|
|---|---|---|
| Daily Market Commentary | No | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | No | Yes |
| 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 available for beginners, MultiBank stands out in comparison to TopFX. MultiBank provides a wealth of content for novice traders, with more than 10 educational resources focusing on forex and CFDs, which include articles, videos, and archived webinars. Furthermore, MultiBank caters to beginners with 10 or more videos specifically designed to cover fundamental trading topics, offering a helpful gateway into the world of trading. While MultiBank does not offer webinars or an investor dictionary, its educational materials contribute to a respectable 3.5-star rating for education, ranking them 50th out of 63 brokers.
In contrast, TopFX falls short in providing educational support for beginners. Unlike MultiBank, TopFX lacks a comparable volume of educational pieces centered on forex and CFDs, nor does it offer beginner-focused videos in the same capacity. Both MultiBank and TopFX share the absence of live webinars, archived webinar access, and an investor dictionary, which could support a more rounded learning approach. TopFX's efforts are reflected in a lower educational rating of 3 stars, placing them at the 61st position among 63 brokers. For beginners looking to enhance their forex and CFD knowledge, MultiBank presents itself as a more resourceful starting point compared to TopFX.
| Feature |
MultiBank
|
TopFX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | No | No |
| Client Webinars (Archived) | No | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | No | No |
| Investor Dictionary (Glossary) | No | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that MultiBank is better than TopFX. MultiBank finished with an overall rank of #40, while TopFX finished with an overall rank of #62.
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 broker’s market research offering is unimpressive and educational content is entirely absent; MultiBank’s poor performance in these important categories drags down its Overall rating.
| Feature |
MultiBank
|
TopFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 84 | 67 |
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When comparing MultiBank to TopFX, MultiBank stands out as it offers the ability to buy actual delivered cryptocurrency in addition to cryptocurrency derivatives, whereas TopFX solely provides options for trading cryptocurrency derivatives.
Comparing online brokers MultiBank and TopFX, MultiBank supports ACH and SEPA transfers but not PayPal, while TopFX does not support ACH or SEPA transfers but does accept PayPal; both brokers facilitate transactions through Skrill, Visa or Mastercard, and bank wires.
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 | MultiBank | TopFX | |
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| Trust Score | 84 | 67 | |
| Winner | check_circle | ||
| Review | MultiBank Review | TopFX Review |
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| Regulation | MultiBank | TopFX | |
|---|---|---|---|
| Trust Score | 84 | 67 | |
| Year Founded | 2005 | 2010 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 3 | 1 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 3 | 1 |
| Tier-1 Licenses (Highly Trusted) | MultiBank | TopFX | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | No | 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) | MultiBank | TopFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | MultiBank | TopFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1042 | 655 | |
| Forex Pairs (Total) | 40 | 60 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | Yes | No | |
| Cryptocurrency (Derivative) | Yes | 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 | MultiBank | TopFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | 1.03 | |
| All-in Cost EUR/USD - Active | N/A | 0.88 | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | MultiBank | TopFX | |
|---|---|---|---|
| Minimum Deposit | $50 | Depends on payment method | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | MultiBank | TopFX | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | MultiBank | TopFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 38 | 30 | |
| Charting - Drawing Tools (Total) | 17 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | MultiBank | TopFX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 30 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | MultiBank | TopFX | |
|---|---|---|---|
| Daily Market Commentary | No | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | MultiBank | TopFX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | No | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | No | No |
| Major Forex Pairs | MultiBank | TopFX | |
|---|---|---|---|
| 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 | MultiBank Review | TopFX Review |
| Overall | MultiBank | TopFX | |
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| Trust Score | 84 | 67 | |
| Winner | check_circle | ||
| Review | MultiBank Review | TopFX Review |
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