Written by ForexBrokers.com
In this head to head comparison of MultiBank vs Xtrade, 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 MultiBank and Xtrade in terms of their regulatory credentials, it's notable that MultiBank was founded in 2005 and Xtrade in 2003. Both are private entities, meaning they are not publicly traded or listed on stock exchanges, and neither operates as a bank. In terms of licensing, MultiBank holds three Tier-1 licenses, which boosts its reputation for being highly secure, while Xtrade holds only one Tier-1 license. This places MultiBank in a stronger position regarding regulatory oversight compared to Xtrade.
Looking at trust scores, MultiBank scores an 84 out of 99 on ForexBrokers.com Trust Score, which classifies it as trusted. Xtrade, with a score of 74, is considered to have average risk. Both brokers also have one Tier-2 license each, indicating a comparable level of secondary trustworthiness. Overall, while both companies are relatively secure, MultiBank seems to offer a higher level of trust and regulatory compliance compared to Xtrade.
| Feature |
MultiBank
|
Xtrade
|
|---|---|---|
| Year Founded | 2005 | 2003 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 1 |
| Tier-2 Licenses | 1 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 3 | 1 |
When comparing MultiBank and Xtrade in terms of commissions and fees, MultiBank offers three distinct account types suited for varying levels of experience and investment: Standard, Pro, and ECN. The Standard account, with a minimum deposit of $50, comes with higher relative spreads, which might not appeal to everyone, especially beginners. For a more balanced option, the Pro account requires a $1,000 deposit and offers lower spreads. At the high-end, the ECN account caters to serious traders with the lowest spreads available but necessitates a $10,000 deposit and includes a small commission of $3 per trade. On the downside, MultiBank also charges an inactivity fee of $60 monthly after 90 days of no trading activity.
In contrast, Xtrade does not provide specific data regarding its average spreads, which can make it challenging for traders to gauge potential costs easily. Both platforms thus offer different advantages depending on your trading needs and experience.
According to ForexBrokers.com, MultiBank is rated 4 stars out of 5 for commissions and fees, placing it at #38 out of 63 brokers. On the other hand, Xtrade earns a 2.5-star rating, ranking at the bottom of the list at #63, indicating that it might not be the best option for those prioritizing low commissions and fees.
| Feature |
MultiBank
|
Xtrade
|
|---|---|---|
| Minimum Deposit | $50 | $250 |
| 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 | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Choosing between MultiBank and Xtrade often comes down to the variety of investments they provide. MultiBank boasts an impressive 1,042 tradeable symbols compared to Xtrade's 482, offering a wider selection for those interested in market diversification. Although MultiBank provides fewer forex pairs—40 against Xtrade's 56—both platforms enable forex trading through CFDs or spot contracts, ensuring forex traders can find compatible options on either. However, if you're looking to delve into actual cryptocurrencies, MultiBank has the upper hand by allowing clients to directly purchase and own digital currencies, whereas Xtrade limits investments to cryptocurrency derivatives.
Both brokers lack the option to trade exchange-traded securities on U.S. or international markets, which may be a consideration for traditional stock investors. MultiBank does distinguish itself further by offering copy trading services, allowing users to mimic the strategies of seasoned traders to potentially enhance returns, a feature not available with Xtrade. Overall, MultiBank is rated slightly higher with 4 stars for its range of investments, standing 37th in the category according to ForexBrokers.com, while Xtrade ranks 49th, earning 3.5 stars. This suggests a subtle yet notable edge in versatility for those leaning towards MultiBank.
| Feature |
MultiBank
|
Xtrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1042 | 482 |
| Forex Pairs (Total) | 40 | 56 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | Yes | No |
| 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.
MultiBank and Xtrade both offer simulated trading options with free virtual demo accounts, providing a risk-free environment for beginners to practice and refine their trading skills. Both brokers have developed their own proprietary trading platforms, giving users tailored experiences. However, MultiBank goes further by offering a Windows-based desktop platform, which Xtrade lacks. Both brokers provide a browser-based platform, allowing easy access without any downloads. While MultiBank supports the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, Xtrade does not offer these industry-standard options. MultiBank also supports copy trading, which is not available with Xtrade.
Charting tools differ significantly between the two brokers. While Xtrade excels with 100 drawing tools for charting, a notable number compared to MultiBank's 17, both platforms allow trading directly from stock charts. When it comes to watch lists, Xtrade offers more customization with nine fields, compared to MultiBank’s seven. In user ratings, MultiBank receives four stars for Trading Platforms and Tools, whereas Xtrade garners 3.5 stars. On ForexBrokers.com, MultiBank ranks 39th out of 63 brokers in this category, significantly higher than Xtrade, which is placed at 58th. These rankings indicate MultiBank’s broader and more versatile trading platform options might suit active traders looking for varied tools and MT4/MT5 capabilities.
| Feature |
MultiBank
|
Xtrade
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 38 | N/A |
| Charting - Drawing Tools (Total) | 17 | 100 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 9 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When evaluating the mobile trading apps from MultiBank and Xtrade, both platforms provide apps for iPhone and Android devices, catering to a wide user base. MultiBank stands out by offering stock and forex price alerts, a feature that Xtrade lacks. This functionality makes it easier for traders to stay updated on price movements without constantly monitoring the market. Additionally, MultiBank offers a comprehensive charting experience with 30 technical studies, while Xtrade does not provide any specific number. MultiBank also allows users to draw trendlines on charts and autosave these drawings, providing enhanced capabilities for technical analysis. Traders can view multiple time frames within MultiBank’s app, whereas Xtrade does not support this flexibility. Both brokers do not offer watchlist syncing across devices.
In terms of creating watchlists, MultiBank users benefit from real-time quotes, which is absent from Xtrade's mobile app. The features offered by MultiBank have contributed to its higher ranking by ForexBrokers.com, where it is placed at #41 out of 63 brokers, compared to Xtrade's #53 ranking. Despite these differences, both platforms are similarly rated with four out of five stars for their mobile trading apps. Ultimately, MultiBank provides more advanced features for mobile trading, which might appeal to traders seeking a more feature-rich mobile trading experience.
| Feature |
MultiBank
|
Xtrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | No |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | N/A |
| Mobile Charting - Draw Trendlines | Yes | No |
| Mobile Charting - Multiple Time Frames | Yes | No |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | No |
Dive deeper: Best Forex Trading Apps.
When comparing market research offerings between MultiBank and Xtrade, both brokers present a mix of strengths and limitations. Xtrade distinguishes itself by providing daily market commentary, a valuable resource for traders seeking regular updates. In contrast, MultiBank does not offer this feature. However, both brokers keep traders informed with forex news from top-tier sources such as Bloomberg, Reuters, and Dow Jones, ensuring access to critical financial insights.
Neither MultiBank nor Xtrade offers specialized technical analysis or fundamental research tools from Autochartist or Trading Central. Similarly, they do not provide sentiment-based trading tools or research from TipRanks and Acuity Trading. Both brokers include an economic calendar, a tool essential for tracking global news events that may impact trading strategies. In terms of research ratings, both MultiBank and Xtrade receive 3.5 stars, though MultiBank slightly edges out Xtrade in ranking by ForexBrokers.com, placing 49th compared to Xtrade's 52nd position out of 63 brokers.
| Feature |
MultiBank
|
Xtrade
|
|---|---|---|
| Daily Market Commentary | No | Yes |
| 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 comparing the educational resources for beginners offered by MultiBank and Xtrade, both brokers provide a solid foundation with over 10 educational pieces focused on forex and CFDs. However, MultiBank takes a step further in catering to newcomers by offering at least 10 dedicated beginner educational videos, a feature that Xtrade lacks. Both brokers fall short in conducting regular online educational webinars and do not maintain an archive of previously recorded sessions. For those looking for a deep dive into advanced trading topics, neither MultiBank nor Xtrade offers a significant library of advanced educational videos.
For those who value an investor dictionary to help navigate complex investing terms, Xtrade stands out by offering a glossary with definitions for over 50 terms, while MultiBank does not provide this resource. In terms of overall education ratings, both brokers receive 3.5 stars, yet Xtrade edges slightly ahead in ranking, taking the 46th position out of 63 brokers in the Education category, compared to MultiBank's 50th place. Ultimately, both platforms offer valuable educational content, but each has its unique strengths and limitations, making it important to assess which resources align best with your learning preferences as a beginner.
| Feature |
MultiBank
|
Xtrade
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| 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 | Yes |
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 Xtrade. MultiBank finished with an overall rank of #40, while Xtrade finished with an overall rank of #60.
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
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Xtrade
|
|---|---|---|
| Overall Rating |
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| Trust Score | 84 | 74 |
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MultiBank allows the purchase of actual cryptocurrencies and cryptocurrency derivatives, while Xtrade offers only cryptocurrency derivatives without providing the option to buy actual cryptocurrencies.
MultiBank and Xtrade both provide Skrill, Visa and Mastercard, and bank wire options for depositing or withdrawing funds, but only MultiBank supports ACH or SEPA transfers, while neither broker offers PayPal as a transaction method.
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 | Xtrade | |
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| Trust Score | 84 | 74 | |
| Winner | check_circle | ||
| Review | MultiBank Review | Xtrade Review |
| Broker Screenshots | MultiBank | Xtrade | |
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| Regulation | MultiBank | Xtrade | |
|---|---|---|---|
| Trust Score | 84 | 74 | |
| Year Founded | 2005 | 2003 | |
| 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 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 3 | 1 |
| Tier-1 Licenses (Highly Trusted) | MultiBank | Xtrade | |
|---|---|---|---|
| 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 | Xtrade | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | MultiBank | Xtrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1042 | 482 | |
| Forex Pairs (Total) | 40 | 56 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | Yes | No | |
| 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 | Xtrade | |
|---|---|---|---|
| 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 | Yes | No | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | MultiBank | Xtrade | |
|---|---|---|---|
| Minimum Deposit | $50 | $250 | |
| PayPal (Deposit/Withdraw) | No | No | |
| 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 | Xtrade | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | MultiBank | Xtrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | No | |
| Watchlists - Total Fields | 7 | 9 | |
| Charting - Indicators / Studies (Total) | 38 | N/A | |
| Charting - Drawing Tools (Total) | 17 | 100 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | No |
| Mobile Trading | MultiBank | Xtrade | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | No | |
| Mobile Watchlist | Yes | No | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 30 | N/A | |
| Mobile Charting - Draw Trendlines | Yes | No | |
| Mobile Charting - Multiple Time Frames | Yes | No | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | No |
| Research | MultiBank | Xtrade | |
|---|---|---|---|
| Daily Market Commentary | No | Yes | |
| 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 | MultiBank | Xtrade | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| 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 | Yes |
| Major Forex Pairs | MultiBank | Xtrade | |
|---|---|---|---|
| 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 | Xtrade Review |
| Overall | MultiBank | Xtrade | |
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| Trust Score | 84 | 74 | |
| Winner | check_circle | ||
| Review | MultiBank Review | Xtrade Review |
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