FinecoBank vs MultiBank 2024

Trust Score is a data-driven rating system that provides an at-a-glance rating of a broker’s overall trust by tracking 60+ brokers and over 100 regulatory jurisdictions across the globe. To make things clearer for everyday traders, we’ve created a five-tier system for regulators and Trust Score rating labels. Learn more about Trust Score, and check out our country guides to see the most trusted brokers in your country of residence.

FinecoBank has a Trust Score of 94, giving it a "Highly Trusted" Trust Score Label.

MultiBank has a Trust Score of 84, giving it a "Trusted" Trust Score Label.

Founded in 1999, FinecoBank is a highly trusted brand regulated in multiple Tier-1 jurisdictions and listed on the Italian Stock Exchange. It's worth noting that traders aren't permitted to open online accounts with Fineco unless they are a resident of the U.K. or Italy (or are applying as EU residents at an actual Fineco branch office). Traders that are able to open an account with Fineco will find a large number of tradeable markets and multiple proprietary trading platforms, including FinecoX and the PowerDesk desktop platform.

MultiBank offers a solid range of forex and CFD trading services, making it an average choice for traders. With an overall rating that indicates satisfactory performance, it provides a reliable trading experience but may lack some advanced features found in other brokers.

Tier-1 is reserved for the strictest, most stringent regulatory jurisdictions in the world. Tier-1 regulators impose additional capital requirements and require a tougher initial screening process. FinecoBank holds regulatory licenses in the following Tier-1 jurisdictions: Australia (ASIC Authorised) and United Kingdom (U.K.) (FCA Authorised). MultiBank, on the other hand, is licensed in these Tier-1 regulatory jurisdictions: Australia (ASIC Authorised) and Singapore (MAS Authorised). Neither have Canada (CIRO Authorised), Hong Kong (SFC Authorised), CBI Authorised (Ireland), Japan (SFC Authorised), New Zealand (FMA Authorised), Switzerland (FINMA Authorised) and USA (CFTC Authorized)

Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, FinecoBank is none, while MultiBank is Cyprus (CySEC Authorised) and UAE (DFSA/Central Bank Authorised).. Neither have China (CBRC Authorised), India (SEBI Authorised), Israel (ISA Authorised), Russia (CBR Authorised), South Africa (FSCA Authorised) and Thailand (SEC Authorised). When comparing tier-3 licenses FinecoBank is none, while MultiBank is British Virgin Islands (FSC Authorised), Cayman Islands (CIMA Authorised) and Vanuatu (VFSC Authorised).. Neither have Bahamas (SCB Authorised), Belize (FSC Authorised), Bermuda (BMA Authorised) and Mauritius (FSC Authorised).

Whether your broker develops its own proprietary platforms or provides access to popular third-party platforms, you should make sure you can use your preferred type of trading platform. In our testing, we found that both FinecoBank and MultiBank offer a Proprietary Platform and Desktop Platform (Windows). Neither have cTrader, DupliTrade and ZuluTrade

For MetaTrader FinecoBank provides neither of these, while MultiBank provides MetaTrader 4 (MT4) and MetaTrader 5 (MT5). If MetaTrader is a must for you, read our guides on the best MT4 brokers or best MT5 brokers.

FinecoBank requires a minimum deposit of $0, while MultiBank requires a minimum deposit of $50. It's also important to ensure your broker accepts the funding options and deposit methods that work best for you. In our research, we've found that FinecoBank supports Bank Wire (Deposit/Withdraw) for funding and deposit methods, whereas MultiBank supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw). Neither have PayPal (Deposit/Withdraw)

When choosing a forex broker, it’s important to consider each broker’s available investment products and tradeable asset classes. We’ve researched each broker’s individual offering of investments to help you pick the right broker for what you want to trade. During our testing, we found that FinecoBank delivers a more diverse selection of investment options than MultiBank, offering tradeable asset classes and investment types such as Forex Trading (Spot or CFDs), Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD). Neither have Spread Betting.

We also keep track of each broker’s total number of tradeable symbols; FinecoBank offers 9770, and MultiBank offers a total of 1042 tradeable symbols.

Crypto trading has become popular among forex traders across a range of international jurisdictions. As a result, many forex brokers now offer crypto products to their clients; most crypto assets are offered either as an underlying physical asset (such as when you own actual bitcoin assets, for example) or as a derivative product like a CFD. If you are looking to trade physical cryptocurrencies, you’ll find that FinecoBank offers clients access to trading physical cryptocurrencies while MultiBank does not.

Market research plays a huge role in any forex trader’s ability to conduct analysis within the global forex market. We test each broker’s research offering to help you decide which broker is right for your technical or fundamental analysis needs. FinecoBank delivers the following research tools: Stock Charts and Forex News (Top-Tier Sources). MultiBank, on the other hand, provides the tools listed here: Stock Charts, Forex News (Top-Tier Sources) and Social Trading / Copy Trading. Neither have Autochartist, Daily Market Commentary and Trading Central (Recognia)

Broker Reviews