Written by ForexBrokers.com
In this head to head comparison of MultiBank vs TeleTrade, 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 TeleTrade are both well-known entities in the online brokerage world, but they differ significantly in terms of regulatory backing. Founded in 2005, MultiBank holds three Tier-1 licenses, reflecting a high level of trust. Additionally, it possesses one Tier-2 license, contributing to its ForexBrokers.com Trust Score of 84, indicating a trusted status. Despite not being publicly traded or operating as a bank, MultiBank is well-regarded for its comprehensive regulatory compliance.
In contrast, TeleTrade, which has been in operation since 1994, holds a single Tier-1 license. It lacks any Tier-2 licenses and is also not publicly traded or a bank. Its ForexBrokers.com Trust Score of 71 suggests it carries an average level of risk according to their ratings. This makes TeleTrade less distinguished in regulatory terms compared to MultiBank, although it still maintains a presence in the trading community.
| Feature |
MultiBank
|
TeleTrade
|
|---|---|---|
| Year Founded | 2005 | 1994 |
| 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 | 0 |
When examining the commissions and fees for MultiBank, it offers three account types: Standard, Pro, and ECN, aimed at forex and CFD trading. The Standard account requires a minimum deposit of just $50, although it has higher relative spreads, which might be less attractive to traders except for complete beginners. The Pro account demands a $1,000 minimum deposit and provides lower spreads. For those looking for the most competitive spreads, the ECN account is an option, with a $10,000 minimum deposit and a $3 commission per trade. However, beware of non-trading fees, as a $60 monthly inactivity fee kicks in if there’s no trading for 90 days. MultiBank earns a 4-star rating for commissions and fees, ranking #37 out of 62 brokers on ForexBrokers.com.
TeleTrade, on the other hand, lacks disclosed average spread data, which could make it a bit challenging for prospective clients to gauge potential costs in advance. Despite this lack of transparency, TeleTrade matches MultiBank with a 4-star rating concerning commissions and fees. However, it ranks slightly lower at #46 out of 62 brokers in the Commissions and Fees category on ForexBrokers.com.
Overall, both brokers offer competitive fee structures, but MultiBank provides more detailed information about its account types and trading costs. While MultiBank seems more geared toward traders willing to deposit larger sums for advanced accounts, new traders might also find entry points but should remain cautious of potential fees. TeleTrade, despite missing some key data details, rates equally in terms of stars, although it sits lower in rank.
| Feature |
MultiBank
|
TeleTrade
|
|---|---|---|
| Minimum Deposit | $50 | $100 |
| 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 | Yes |
| 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.
When comparing MultiBank to TeleTrade for the range of available investments, both brokers provide forex trading through CFDs or spot contracts. MultiBank presents a wider range of tradeable symbols with a total of 1,042, while TeleTrade offers 500. However, TeleTrade provides a broader selection of tradeable forex pairs, with 61 compared to MultiBank's 40. Neither broker offers the ability to invest in exchange-traded securities on U.S. or international exchanges, meaning clients can't directly purchase shares like Apple or Vodafone on those platforms. Both brokers do offer copy trading, providing investors a way to mimic more experienced traders' strategies.
MultiBank distinguishes itself with the ability to buy both actual cryptocurrencies and their derivatives, giving clients flexibility in their crypto investments. In contrast, TeleTrade only deals with cryptocurrency derivatives. MultiBank's more extensive investment options earn it a four-star rating for the range of investments, placing it at #37 among 62 brokers on ForexBrokers.com. TeleTrade holds a slightly lower rating of 3.5 stars, ranked at #45 on the same list. Overall, MultiBank seems better suited to those looking for a broader array of investment options, particularly in digital currencies.
| Feature |
MultiBank
|
TeleTrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1042 | 500 |
| Forex Pairs (Total) | 40 | 61 |
| 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 the online brokers MultiBank and TeleTrade, both offer a comprehensive suite of trading platforms and tools that cater to various trading needs. Each broker provides a free virtual demo account, allowing users to practice their trading strategies without risk. MultiBank sets itself apart with a proprietary trading platform developed in-house, while TeleTrade relies on other popular platforms. Both brokers offer MetaTrader 4 and 5, web-based platforms, and Windows desktop applications, ensuring traders have a range of options. Additionally, each supports copy trading, although TeleTrade also includes ZuluTrade in its offerings. Despite these slight differences, both brokers have received a 4-star rating for their trading platforms and tools.
Looking at charting tools, MultiBank offers 17 drawing tools compared to TeleTrade's 15, though both brokers provide direct trading capabilities from stock charts. On the organizational front, both have watch lists with seven customizable columns, allowing traders to tailor their experience. Despite similar offerings, MultiBank is ranked 39th out of 62 brokers for Trading Platforms and Tools by ForexBrokers.com, whereas TeleTrade holds the 51st position. This indicates that while both brokers deliver comprehensive trading technology, MultiBank marginally edges ahead in overall assessment.
| Feature |
MultiBank
|
TeleTrade
|
|---|---|---|
| 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 | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | Yes |
| Charting - Indicators / Studies (Total) | 38 | 35 |
| 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 TeleTrade, both platforms offer impressive features for iPhone and Android users, including the ability to receive stock or forex price alerts and draw trendlines on charts. Both apps support various time frames for viewing charts, allowing traders to toggle between daily, weekly, or intraday perspectives. Additionally, both allow users to create watchlists with real-time quotes, although neither app supports syncing watchlists between mobile and online accounts. While MultiBank offers 30 technical studies for charting, TeleTrade slightly surpasses it with 35 technical studies available in its app. Both apps are equipped to autosave drawings, ensuring traders never lose sight of their technical analyses.
In terms of user satisfaction, both MultiBank and TeleTrade receive a solid four-star rating for their mobile trading apps. However, when ranked by ForexBrokers.com, there is a notable difference in their standings among 62 brokers, with TeleTrade securing a more favorable position at #25 compared to MultiBank at #41. Despite these nuances, both brokers deliver commendable mobile trading experiences, catering to the needs of traders on-the-go.
| Feature |
MultiBank
|
TeleTrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | 35 |
| 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 comparing MultiBank and TeleTrade for market research offerings, both platforms have their strengths and weaknesses. TeleTrade distinguishes itself by providing daily market commentary, a feature MultiBank does not offer. However, both brokers offer forex news from top-tier sources like Bloomberg and Reuters, ensuring traders have access to high-quality news. While neither MultiBank nor TeleTrade includes tools like Autochartist or Trading Central for technical and fundamental analysis, they both provide users with an economic calendar to stay updated with global news events.
In terms of market research tools, neither platform offers sentiment-based trading tools or research from companies like TipRanks or Acuity Trading. Both MultiBank and TeleTrade have an equal research rating of 3.5 stars. However, in the broader ranking by ForexBrokers.com, TeleTrade is positioned higher at #38 compared to MultiBank’s rank of #49 out of 62 brokers. This comparison shows that while both brokers offer useful resources, TeleTrade slightly edges out in its market research categorization.
| Feature |
MultiBank
|
TeleTrade
|
|---|---|---|
| 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 it comes to educational resources for beginners, MultiBank clearly stands out compared to TeleTrade. MultiBank provides a substantial collection of educational materials, offering over ten pieces centered around forex and CFDs, along with more than ten beginner-friendly videos specifically tailored to help new traders grasp basic trading concepts. However, neither MultiBank nor TeleTrade hosts monthly online webinars or maintains an archive of recorded sessions. Similarly, both brokers fall short on providing an investor dictionary or advanced educational content for seasoned traders.
Despite both brokers being rated 3.5 stars for education, MultiBank ranks higher at #50 out of 62 brokers in the ForexBrokers.com's Education category, whereas TeleTrade lags behind at #61. This ranking reflects MultiBank's broader educational offerings aimed at novices, unlike TeleTrade, which lacks comprehensive educational resources. For beginners wanting a better head start in understanding the trading world, MultiBank offers a more supportive educational foundation.
| Feature |
MultiBank
|
TeleTrade
|
|---|---|---|
| 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 62 of the best forex brokers, our research and account testing finds that MultiBank is better than TeleTrade. MultiBank finished with an overall rank of #40, while TeleTrade finished with an overall rank of #50.
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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TeleTrade
|
|---|---|---|
| Overall Rating |
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| Trust Score | 84 | 71 |
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MultiBank provides both actual cryptocurrency purchases and cryptocurrency derivatives, whereas TeleTrade only offers the option to buy cryptocurrency derivatives.
In comparing online brokers MultiBank and TeleTrade, MultiBank provides a broader range of deposit and withdrawal options by supporting ACH or SEPA transfers and Skrill, while both platforms offer Visa or Mastercard and bank wires, yet neither supports PayPal, with TeleTrade also lacking ACH or SEPA capabilities.
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 | TeleTrade | |
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| Trust Score | 84 | 71 | |
| Winner | check_circle | ||
| Review | MultiBank Review |
| Broker Screenshots | MultiBank | TeleTrade | |
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| Regulation | MultiBank | TeleTrade | |
|---|---|---|---|
| Trust Score | 84 | 71 | |
| Year Founded | 2005 | 1994 | |
| 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 | 0 |
| Tier-1 Licenses (Highly Trusted) | MultiBank | TeleTrade | |
|---|---|---|---|
| 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 | TeleTrade | |
|---|---|---|---|
| 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 | TeleTrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1042 | 500 | |
| Forex Pairs (Total) | 40 | 61 | |
| 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 | TeleTrade | |
|---|---|---|---|
| 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 | Yes | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | MultiBank | TeleTrade | |
|---|---|---|---|
| Minimum Deposit | $50 | $100 | |
| 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 | TeleTrade | |
|---|---|---|---|
| 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 | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | Yes |
| Trading Tools | MultiBank | TeleTrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 38 | 35 | |
| Charting - Drawing Tools (Total) | 17 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | MultiBank | TeleTrade | |
|---|---|---|---|
| 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 | 35 | |
| 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 | TeleTrade | |
|---|---|---|---|
| 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 | TeleTrade | |
|---|---|---|---|
| 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 | TeleTrade | |
|---|---|---|---|
| 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 |
| Overall | MultiBank | TeleTrade | |
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| Trust Score | 84 | 71 | |
| Winner | check_circle | ||
| Review | MultiBank Review |
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