Our review of MultiBank’s fees breaks them down into trading and non-trading fees to help traders understand the total costs involved and, therefore, be able to compare them to other brokers.
Overview of MultiBank Fees and Charges
MultiBank recently reduced all trading commissions, offering traders three different MultiBank account types, with minimum trading fees ranging from $0.00 (ECN account) to $15.00 (Standard).
Here is a snapshot of MultiBank fees:
Fee | Type of Fee | Applicable at MultiBank |
|---|---|---|
Spreads | Trading fee | Yes |
Commission | Trading fee | No |
Swap rates on leveraged overnight positions | Trading fee | Yes |
Live Price Feed / Stamp Duty/ Settlement Fee | Trading fee | No |
Internal Deposit Fee | Non-trading fee | No |
Internal Withdrawal Fee | Non-trading fee | No |
Inactivity Fee | Non-trading fee | Yes |
Account Fee | Non-trading fee | No |
Currency Conversion Fee | Trading fee and non-trading fee | Undisclosed |
MultiBank Fees, Spreads, and Commission Explained
Trading fees applied by all brokers consist of direct trading costs and less frequent non-trading fees. Understanding the MultiBank fees will help traders compare expenses before committing to the provider.
MultiBank trading fees are:
- Spreads (the difference between the bid and the ask price, where MultiBank offers spreads between 0.0 pips and 1.5 pips)
- Commissions (MultiBank has since eliminated trade ticket commissions)
- Swap rate markups (charged on leveraged overnight positions)
- Currency conversion fees on realized profit or losses (undisclosed at MultiBank)
MultiBank non-trading fees are:
- Deposit fees (not applicable at MultiBank)
- Withdrawal fees (not applicable at MultiBank)
- Inactivity fees (MultiBank charges $60 monthly after three months of dormancy)
- Currency conversion fees on deposits
MultiBank Trading Fees
MultiBank trading fees apply to each transaction and are, therefore, asset/instrument dependent.
Here is an overview of minimum MultiBank trading fees:
Asset | Minimum Markup over Raw Spreads | Minimum Commission | Total MultiBank Fees |
|---|---|---|---|
Forex (EUR/USD) | 0.0 pips | Commission-free | $0.00 per 1.0 lot |
Indices (S&P500) | 0.90 points | Commission-free | $0.90 per contract |
Commodities (Gold) | 0.02 points | Commission-free | $0.02 per contract |
Cryptocurrencies (Bitcoin) | 39.00 points | Commission-free | $39.00 per coin |
Overnight Fees (Swap rates)
Swap rates are the most commonly ignored trading cost and may become the most significant additional fee per trade, depending on the strategy. Swap rates apply on leveraged overnight positions, which may triple on Wednesday night (dependent on the trading platform used) to account for trades not settling over the weekend. Closed trades in FX usually ‘settle’ after 2 working days.
MT4/MT5 traders can easily access swap rates from their platform by following these steps:
- Right-click the desired symbol in the Market Watch window and select Specification.
- Scroll down until you see Swap Long and Swap Short.
MultiBank Non-Trading Fees
Non-trading fees can apply to deposits, withdrawals, and account inactivity. They are notably less frequent, but traders should know about them to make sure everything is clear.
Currency Conversion Fees
Each time MultiBank must exchange one currency for another, including trading p&l realization (when the p&l is realized in a currency other than the account base currency), currency conversion fees apply. They are the least visible, and most traders need to be made aware of this hidden fee.
MultiBank Deposit Fee
MultiBank has no internal deposit fees, but a currency conversion fee may apply. A multi-currency account can eliminate currency conversion fees.
MultiBank Withdrawal Fee
MultiBank does not levy internal withdrawal fees. Traders should also consider potential third-party payment processor fees and follow-on transaction costs.
MultiBank Inactivity Fee
MultiBank levies a $60 monthly inactivity fee after three months of dormancy.
MultiBank Safety and Security
MultiBank complies with eleven regulators and operates from 25+ offices globally. It is a bank with $322 million in paid-up capital, has a B rating with credit agency S&P, and complies with strict capital adequacy requirements. All client deposits remain segregated from corporate funds and held with tier-1 banks, and negative balance protection for clients exists.
MultiBank Trading Fees Bottom Line
MultiBank fees for $1,000+ accounts are good, but ultra-competitive for $10,000+ portfolios.
For additional up-to-date information on MultiBank, read our full broker review. MultiBank is a broker-bank, acting as a custodian of client funds and offering a range of banking and trading services globally. The spread on FX pairs depends on the MultiBank account types, with minimums as low as 0.0 pips and as high as 1.5 pips. Yes, MultiBank is a good broker that supports all trading strategy types. It is one of the safest broker banks with competitive trading conditions and quality trading tools and services. MultiBank does not charge internal withdrawal fees, but traders may face third-party processing costs or currency conversion fees.FAQs
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