Written by ForexBrokers.com
In this head to head comparison of FP Markets vs MultiBank, 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.
FP Markets and MultiBank, both founded in 2005, are well-known online brokers not publicly listed as stock exchange companies nor recognized as banks. When examining their trustworthiness, FP Markets secures an edge with a Trust Score of 89, placing it in the 'trusted' category according to ForexBrokers.com. In contrast, MultiBank holds a Trust Score of 84, also in the 'trusted' bracket but slightly lower. This level of trust is complemented by FP Markets' possession of two Tier-1 licenses, while MultiBank holds three, indicating they prioritize top-level regulatory standards.
Further assessing regulatory credentials, both FP Markets and MultiBank each maintain one Tier-2 license, supporting their standing in the trusted category. These licensing details reflect their commitment to adhering to respected financial regulations, offering a similar degree of security for traders while their respective Trust Scores and licensing numbers provide a nuanced decision point for potential clients evaluating their options.
| Feature |
FP Markets
|
MultiBank
|
|---|---|---|
| Year Founded | 2005 | 2005 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 3 |
| Tier-2 Licenses | 1 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 3 |
FP Markets is highly regarded in terms of commissions and fees, offering globally competitive pricing through its MetaTrader and cTrader platforms. The broker shines particularly with its Raw ECN account, where competitive spreads average 0.1 pips, although they rise to 0.8 pips when including commissions. Meanwhile, the Standard account features significantly higher spreads, averaging 1.1 pips for EUR/USD. In Australia, FP Markets' Iress ViewPoint accounts cater to active, high-balance traders with various deposit requirements, although they could be less affordable compared to other options. Due to these features, FP Markets earned a stellar rating of 5 stars and ranks #6 out of 62 brokers in the Commissions and Fees category by ForexBrokers.com.
In contrast, MultiBank provides three account types: Standard, Pro, and ECN, each with distinct features and associated costs. The entry-level Standard account requires a $50 minimum deposit but comes with relatively higher spreads, making it less attractive unless you're new to trading. The Pro account, necessitating a $1,000 deposit, offers reduced spreads, while the ECN account provides the lowest spreads with a reasonable $3 commission per trade and requires a $10,000 deposit. Notably, MultiBank charges a $60 monthly inactivity fee if the account remains untouched for 90 days. Overall, MultiBank earns a commendable 4-star rating and ranks #37 in the same category.
In summary, FP Markets and MultiBank offer distinct advantages based on account type and trader needs. FP Markets is particularly suitable for active traders seeking low commission-based spreads, whereas MultiBank provides a variety of account structures with flexible entry requirements. Choosing between the two will depend largely on your trading style, budget, and platform preference.
| Feature |
FP Markets
|
MultiBank
|
|---|---|---|
| Minimum Deposit | $100 AUD | $50 |
| Average Spread EUR/USD - Standard | 1.2 | N/A |
| All-in Cost EUR/USD - Active | 0.7 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | No | Yes |
| PayPal (Deposit/Withdraw) | Yes | 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 it comes to the diversity of investments, FP Markets provides a significantly larger selection with 10,000 tradeable symbols, far surpassing MultiBank's offering of 1,042 symbols. Forex enthusiasts will find FP Markets appealing with 71 tradeable forex pairs compared to MultiBank's 40. Both brokers facilitate forex trading via CFDs or spot contracts, providing flexibility for traders. However, neither FP Markets nor MultiBank offers direct access to exchange-traded securities on U.S. or international markets, such as shares from NASDAQ or the London Stock Exchange.
For those interested in cryptocurrency, MultiBank allows the purchase of actual cryptocurrencies, a feature that FP Markets does not provide. Nonetheless, both brokers enable trading in cryptocurrency derivatives. Investors can also benefit from copy trading on both platforms, allowing them to mimic expert trader strategies. In terms of investment range, FP Markets proves to be more favorable with a 4.5-star rating, compared to MultiBank’s 4 stars. According to ForexBrokers.com, FP Markets is ranked 18th out of 62 brokers for the range of investments, while MultiBank holds the 37th spot.
| Feature |
FP Markets
|
MultiBank
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 10000 | 1042 |
| Forex Pairs (Total) | 71 | 40 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | No | Yes |
| 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 FP Markets to MultiBank for their trading platforms and tools, both brokers offer a wide array of features that cater to the needs of traders. They each provide a proprietary platform, allowing users to experience personalized trading environments. Furthermore, both brokers support the popular MetaTrader 4 and MetaTrader 5 platforms, ensuring traders have access to industry-standard tools. Investing in the innovation of their services, both FP Markets and MultiBank also offer Windows-based desktop downloads and web-based trading platforms, enabling flexibility and access for users on various devices. Additionally, they provide free demo accounts for simulated trading, copy trading capabilities, and allow trading directly from stock charts. Notably, neither broker offers DupliTrade or ZuluTrade, but they both include a satisfactory number of columns for watch lists and drawing tools for charting.
In terms of user ratings and industry standings, FP Markets edges past MultiBank by maintaining a higher rank in the Trading Platforms and Tools category according to ForexBrokers.com, positioning at #23 out of 62 brokers compared to MultiBank's #39. Both brokers, however, receive a four-star rating for their trading platforms and tools, reflecting a solid endorsement from the trading community. Technical indicators remain unspecified for both brokers, yet they match each other with 17 drawing tools available, which fosters an enriched analytical experience.
| Feature |
FP Markets
|
MultiBank
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| 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 | No |
| Charting - Indicators / Studies (Total) | 30 | 38 |
| Charting - Drawing Tools (Total) | 17 | 17 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both FP Markets and MultiBank provide mobile trading apps compatible with iPhone and Android devices, ensuring traders can conveniently access the market anywhere. They both support stock and forex price alerts, plus the ability to draw trendlines, view multiple time frames, and auto-save drawings on charts. Additionally, users can create watchlists featuring real-time quotes on both platforms, although neither app currently supports syncing watchlist symbols with the user's online account.
While FP Markets utilizes MetaTrader's default technical studies for charting, MultiBank distinguishes itself by offering 30 charting studies. Despite these differences, both mobile trading apps have earned a solid 4-star rating. However, FP Markets outshines MultiBank in rankings, securing the 18th spot among 62 brokers on ForexBrokers.com compared to MultiBank's position at 41. This difference might reflect FP Markets' appeal to users who prioritize accessibility and rankings.
| Feature |
FP Markets
|
MultiBank
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | MetaTrader (Default) | 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 FP Markets and MultiBank for market research, FP Markets stands out with an array of resources. It provides daily market commentary, which is beneficial for traders looking to stay updated on the latest trends and developments. In addition, FP Markets offers valuable forex news from top-tier sources, ensuring reliable and timely information. The availability of several technical and fundamental analysis tools from companies like Autochartist and Trading Central further enhances FP Markets' offerings. Furthermore, traders on FP Markets can access a sentiment-based tool, helping them gauge long and short positions across different instruments. Both brokers provide an economic calendar, offering a comprehensive view of upcoming global news events.
While MultiBank delivers quality forex news from top-tier sources and an informative economic calendar, it lacks in other areas of market research support compared to FP Markets. For instance, MultiBank does not offer daily market commentary, nor does it provide technical analysis tools from companies like Autochartist and Trading Central. These differences may influence the decision of traders looking for extensive research support. Ultimately, FP Markets is rated 4 stars for research and ranks 25th out of 62 brokers according to ForexBrokers.com, whereas MultiBank is rated 3.5 stars and ranks 49th, reflecting the differences in their comprehensive market research offerings.
| Feature |
FP Markets
|
MultiBank
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
For beginners eager to navigate the world of online trading, FP Markets and MultiBank both present some solid educational offerings, but there are key differences to note. FP Markets is notably more extensive, providing over ten educational resources, including articles and videos focusing on forex and CFD trading. Not only do they conduct online webinars monthly, but they also maintain a searchable archive of these sessions for continued learning. In addition, FP Markets supplies a range of beginner and advanced video content, ensuring there's material available for traders at any level. The inclusion of an investor dictionary featuring definitions for over fifty investing terms rounds off their comprehensive educational suite.
MultiBank, while also offering educational content on forex and CFDs, falls short in comparison to its counterpart. Although they have over ten beginner videos available, MultiBank does not provide monthly webinars or an archive of past webinars. Furthermore, their educational resources lack advanced trading videos tailored to experienced traders and do not feature a detailed investor dictionary. Based on user experience and reviews, FP Markets is rated higher, earning 4 stars and ranking 23rd in education among brokers on ForexBrokers.com, while MultiBank trails with 3.5 stars, landing at the 50th position. Beginners who prioritize a broad and accessible educational experience might find FP Markets more suitable for their learning needs.
| Feature |
FP Markets
|
MultiBank
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that FP Markets is better than MultiBank. FP Markets finished with an overall rank of #19, while MultiBank finished with an overall rank of #40.
FP Markets shines as a low-cost broker for trading forex and CFDs – as long as you use the MetaTrader platform. The Iress platform suite offers well over 9,000 tradeable symbols, but it’s mostly a share trading platform – and is generally a much pricier option.
| Feature |
FP Markets
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MultiBank
|
|---|---|---|
| Overall Rating |
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| Trust Score | 89 | 84 |
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FP Markets allows you to trade cryptocurrency derivatives but does not offer the option to buy actual delivered cryptocurrency, whereas MultiBank offers both the ability to purchase actual cryptocurrency and trade cryptocurrency derivatives.
When comparing online brokers FP Markets and MultiBank for account funding options, FP Markets supports PayPal, Skrill, Visa/Mastercard, and bank wires but lacks ACH or SEPA transfers, whereas MultiBank accommodates ACH or SEPA transfers, Skrill, Visa/Mastercard, and bank wires, but does not offer PayPal.
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 | FP Markets | MultiBank | |
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| Trust Score | 89 | 84 | |
| Winner | check_circle | ||
| Review | FP Markets Review | MultiBank Review |
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| Regulation | FP Markets | MultiBank | |
|---|---|---|---|
| Trust Score | 89 | 84 | |
| Year Founded | 2005 | 2005 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 2 | 3 | |
| Tier-2 Licenses | 1 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 3 |
| Tier-1 Licenses (Highly Trusted) | FP Markets | MultiBank | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | Yes | |
| 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) | FP Markets | MultiBank | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | No | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | FP Markets | MultiBank | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 10000 | 1042 | |
| Forex Pairs (Total) | 71 | 40 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | No | Yes | |
| 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 | FP Markets | MultiBank | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.2 | N/A | |
| All-in Cost EUR/USD - Active | 0.7 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | FP Markets | MultiBank | |
|---|---|---|---|
| Minimum Deposit | $100 AUD | $50 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | Yes |
| Trading Platforms | FP Markets | MultiBank | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| 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 | Yes | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | FP Markets | MultiBank | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 30 | 38 | |
| Charting - Drawing Tools (Total) | 17 | 17 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FP Markets | MultiBank | |
|---|---|---|---|
| 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 | MetaTrader (Default) | 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 | FP Markets | MultiBank | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | FP Markets | MultiBank | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | FP Markets | MultiBank | |
|---|---|---|---|
| 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 | FP Markets Review | MultiBank Review |
| Overall | FP Markets | MultiBank | |
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| Trust Score | 89 | 84 | |
| Winner | check_circle | ||
| Review | FP Markets Review | MultiBank Review |
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