This paper presents a novel single-phase to single-phase multiconverter topology that can be applied in multiple areas. The proposed multiconverter is designed with only two soft power semiconductor switches (e.g. MOSFET or IGBT), four power diodes and a center-tapped transformer which makes it more compact in size, decrease the gate driving complexity, reduce the total equipment costs and enhance the energy conversion efficiency with minimized losses. Furthermore, the utilization of the transformer in the proposed converter mitigates the multiple AC source requirement problems and provides galvanic isolation which increases the reliability of the converter. Moreover, the presented multiconverter is applicable in various areas including electric traction as a speed controller, induction heating, AC and DC variable power supplies, etc. which signify the competence of this converter in energy conversion appliances. However, a comparative analysis of the offered converter with the existing AC-AC converters is also introduced in this paper with respect to the number of components, equipment costs, gate driving complexity, and application areas. In order to evaluate the performance of the proposed multiconverter, the simulation-based results carried out in MATLAB/Simulink are presented and analyzed in this paper with proper descriptions. Finally, a scaled-down prototype is developed in the laboratory to validate the simulation results and the feasibility of the proposed multiconverter. INDEX TERMS Cycloconverter, controlled rectifier, electric traction, matrix converter, multiconverter, static frequency changer (SFC), voltage regulator.