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 |
MultiBank offers three types of accounts for forex and CFD trading: Standard, Pro, and ECN. The Standard account, with a $50 minimum deposit, has relatively higher spreads and is more suited for beginners. The Pro account offers more competitive spreads with a $1,000 minimum deposit. The ECN account has MultiBank's most favorable spreads, featuring a round-trip commission of $3 per trade with a $10,000 minimum deposit. Be aware of the inactivity fee of $60 per month, applied if there's no trading activity for 90 days. MultiBank has earned a 4-star rating for its commissions and fees, ranking 38th among 62 brokers evaluated by ForexBrokers.com.
TopFX provides two account options: the spread-only ZERO account and the commission-based RAW account, both available on MetaTrader and cTrader platforms. The RAW account charges a 2.75 EUR commission per side, offering an industry-average all-in cost of about 0.88 pips when factoring in spreads. On the other hand, the ZERO account does not charge commission but shows higher spreads, averaging 1.03 pips for the EUR/USD. Similar to MultiBank, TopFX also holds a 4-star rating for commissions and fees, though it is slightly lower in ranking at 40th place among the 62 brokers reviewed by ForexBrokers.com.
In summary, both MultiBank and TopFX offer competitive options for traders, each with their unique setups catering to different trading preferences. MultiBank aligns its services across three account types focusing on deposit requirements and spread preferences, while TopFX differentiates its accounts based on commission versus spread costs, offering flexibility depending on trading style. Both brokers maintain a strong reputation in their fee structures despite their distinct approaches and industry rankings.
| 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 comparing MultiBank and TopFX for their range of investments, you'll find both brokers offer forex trading either as CFDs or spot contracts. MultiBank impressively provides 1,042 tradeable symbols, including 40 forex pairs. Although TopFX has fewer tradeable symbols, totaling 655, it makes up for it with a larger selection of 60 forex pairs. Neither broker offers clients the ability to purchase exchange-traded securities on U.S. or international exchanges, which could be a limitation for investors seeking direct equity investments.
Both MultiBank and TopFX support copy trading, allowing users to mimic successful strategies. However, when it comes to cryptocurrencies, MultiBank provides additional flexibility by offering both actual cryptocurrencies and cryptocurrency derivatives, while TopFX limits its offerings to derivatives only. This broader variety in cryptocurrency options contributes to MultiBank's higher rating of four stars for its range of investments compared to TopFX's 3.5 stars. In the big picture, MultiBank ranks 37th among 62 brokers in ForexBrokers.com's investment range category, outperforming TopFX's ranking of 46th.
| 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 the trading platforms and tools of MultiBank and TopFX, both brokers offer free virtual demo accounts and support for MetaTrader 4 (MT4), ensuring traders have the opportunity to practice and utilize market-leading software. Where MultiBank stands out is with its proprietary trading platform, which is developed in-house, offering additional internal innovation that TopFX does not provide. Both brokers offer Windows-based desktop and web-based trading platforms, as well as support for copy trading. However, MultiBank offers MetaTrader 5 (MT5), which is not available through TopFX, potentially providing more options for traders seeking advanced features.
For charting tools, MultiBank and TopFX are fairly similar, with MultiBank offering 17 drawing tools compared to TopFX's 15. Both brokers allow trading directly from stock charts, enhancing efficiency for traders. Moreover, each provides watch lists with seven configurable columns. Despite these similarities, MultiBank holds a slightly better position at #39 in ForexBrokers.com's rankings compared to TopFX's #45. Nevertheless, both brokers achieve a commendable four-star rating for their trading platforms and tools, indicating that they deliver a competitive range of features and functionality overall.
| 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, you'll find they both cater well to iPhone and Android users. Each application provides essential features such as stock and forex price alerts, the ability to draw trendlines on charts, and options for viewing various time frames. They also auto-save any drawings you make and allow you to create watchlists with real-time quotes. The overall user experience is quite similar between the two platforms, as they both offer 30 technical studies within their charting tools. However, neither of the apps currently supports watchlist symbol syncing with the user's online account.
In terms of user ratings, both MultiBank and TopFX mobile apps hold a solid 4-star rating, indicating user satisfaction with their core offerings. Yet, their rankings on ForexBrokers.com differ slightly, with MultiBank being positioned at #41 out of 62 brokers, while TopFX is ranked #51. This slight difference signifies a marginal preference among users and reviewers for MultiBank over TopFX in the mobile trading category. Overall, both apps provide a comprehensive trading experience, suitable for traders who require reliable tools at their fingertips.
| 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 comparing MultiBank and TopFX, both brokers provide a steady flow of forex news from leading sources like Bloomberg and Reuters, ensuring traders stay informed about global market developments. While neither platform offers daily market commentary, they each provide an economic calendar which displays essential global economic events that could impact traders' decisions. However, a key distinction emerges in their range of analytical tools. TopFX outshines MultiBank by offering tools from renowned companies like Autochartist and Trading Central. Additionally, TopFX provides a sentiment-based trading tool, helping traders gauge market trends and positions, which MultiBank lacks.
Despite TopFX's advantage in offering more analysis tools, MultiBank holds an edge in its overall research rating. With a rating of 3.5 stars, MultiBank ranks #49 out of 62 brokers on ForexBrokers.com, compared to TopFX's lower rating of 3 stars and being ranked #59. While neither broker uses tools from TipRanks or Acuity Trading, these distinctions in research capabilities and rankings highlight how potential users can prioritize their needs in market analysis and research support when selecting between these two brokers.
| 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 comparing MultiBank and TopFX for educational resources suitable for beginners, MultiBank has a slight edge. MultiBank provides more than ten educational pieces focusing on forex and CFDs, which could be beneficial for newcomers looking to grasp the basics. They also offer a series of beginner-friendly videos, helping new traders understand various trading topics better. On the other hand, TopFX falls short in these areas, lacking a similar range of educational content and beginner videos.
Neither MultiBank nor TopFX offers regular live webinars or archives of past sessions, which might be a drawback for those seeking interactive learning experiences. Additionally, both brokers do not provide an investor dictionary, which could be a handy tool for learning key investing terms. In terms of ratings, MultiBank receives a 3.5-star rating in education compared to TopFX’s 3-star rating. According to ForexBrokers.com, MultiBank ranks 50th out of 62 brokers in the education category, whereas TopFX holds the 60th position. This suggests that while neither broker excels in educational offerings, MultiBank presents a slightly better option for beginners seeking educational resources.
| 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 62 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 #61.
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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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 |
| Broker Screenshots | MultiBank | TopFX | |
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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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