Written by ForexBrokers.com
In this head to head comparison of MultiBank vs FXOpen, 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.
Founded in 2005, MultiBank is a non-publicly traded online broker with a strong presence in the forex market. The broker boasts three Tier-1 licenses, indicating a high degree of trust from regulatory authorities, while also holding one Tier-2 license. With a Trust Score of 84 out of 99 from ForexBrokers.com, MultiBank is recognized as a trusted brokerage firm.
FXOpen, established in 2003, is also a non-publicly traded online broker but operates with slightly fewer regulatory endorsements compared to MultiBank. It holds two Tier-1 licenses, contributing to its reliability, although it does not possess any Tier-2 licenses. The broker has a Trust Score of 76, positioning it as carrying an average risk compared to MultiBank.
| Feature |
MultiBank
|
FXOpen
|
|---|---|---|
| Year Founded | 2005 | 2003 |
| Publicly Traded (Listed) | ||
| Bank | ||
| Tier-1 Licenses | 3 | 2 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 3 | 0 |
When comparing MultiBank and FXOpen, both brokers have their distinct approaches to commissions and fees, each earning a 4-star rating. With MultiBank, traders have a choice of three account types: Standard, Pro, and ECN. The Standard account, suitable for beginners due to its $50 minimum deposit, carries higher spreads, making it less appealing for those with more experience. The Pro account requires a higher $1,000 deposit but offers lower spreads than the Standard option. The ECN account, ideal for advanced traders, boasts the lowest spreads, requiring a $10,000 deposit and a $3 round-trip commission per trade. However, be mindful of MultiBank's non-trading fee, which charges $60 monthly for inactive accounts over 90 days.
FXOpen, while not providing average spread data, manages to hold its own in the market, also earning a 4-star rating for its commissions and fees. In terms of ranking, MultiBank is placed higher at #38 compared to FXOpen's #44 out of 63 brokers reviewed by ForexBrokers.com. This suggests a slight edge for MultiBank in user preference for commissions and fee structures but doesn’t undermine the value FXOpen brings to traders looking for competitive options.
| Feature |
MultiBank
|
FXOpen
|
|---|---|---|
| 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 | Yes | |
| ACH or SEPA Transfers | Yes | |
| PayPal (Deposit/Withdraw) | ||
| 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 FXOpen for their range of investments, both platforms provide opportunities for forex trading as CFDs or spot contracts. However, MultiBank stands out with a significant offering of 1,042 tradeable symbols, which is considerably more than FXOpen's 87. Similarly, MultiBank surpasses with 40 available tradeable forex pairs compared to FXOpen's 25. In terms of investment variety, MultiBank also offers copy trading and the option to buy actual cryptocurrency, whereas FXOpen lacks the feature to purchase actual cryptocurrencies but does offer cryptocurrency derivatives. Both platforms provide the ability to trade cryptocurrency derivatives, giving users some variety in digital asset trading.
Despite neither platform offering exchange-traded securities on U.S. or international exchanges, MultiBank is rated slightly higher for its range of investments with four stars compared to FXOpen's three stars. In the ForexBrokers.com rankings for the range of investments category, MultiBank holds the 37th spot out of 63 brokers, while FXOpen is positioned at 62nd. These rankings suggest a more favorable evaluation of MultiBank's investment offerings in contrast to FXOpen, making it a potentially more appealing choice for those seeking a broader range and depth in investment options.
| Feature |
MultiBank
|
FXOpen
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1042 | 87 |
| Forex Pairs (Total) | 40 | 25 |
| U.S. Stock Trading (Non CFD) | ||
| Int'l Stock Trading (Non CFD) | ||
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | Yes | |
| Cryptocurrency (Derivative) | Yes | Yes |
| Disclaimers |
Dive deeper: Best Copy Trading Platforms.
When considering online brokers for trading platforms and tools, MultiBank and FXOpen share several similarities yet have distinct attributes. Both brokers offer simulated trading through free virtual demo accounts, making them attractive to those new to trading. MultiBank and FXOpen provide Windows-based desktop platforms and web-based platforms, ensuring flexibility for traders accessing different devices. They both support popular trading platforms like MetaTrader 4 and MetaTrader 5, which are favored for their comprehensive features. While MultiBank offers a proprietary platform developed in-house, FXOpen does not have this feature. However, FXOpen compensates with an edge in social trading by offering ZuluTrade. Copy trading is supported by both brokers, enabling users to mimic the trades of successful investors.
Charting tools and customization options also present some differences. MultiBank boasts 17 drawing tools for charting, slightly more than FXOpen’s 15, which provides users with enhanced capabilities for technical analysis. Both brokers allow trading directly from stock charts, which can streamline the trading process. Watch lists on each platform can be customized with up to seven columns to suit individual preferences. In terms of ratings, both MultiBank and FXOpen receive 4 out of 5 stars for their trading platforms and tools, yet they rank differently on ForexBrokers.com. MultiBank secures the 39th position, while FXOpen holds the 53rd spot among 63 brokers, highlighting some variance in perceived quality or user experience.
| Feature |
MultiBank
|
FXOpen
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | 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 | ||
| ZuluTrade | Yes | |
| 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 FXOpen, both brokers provide apps for iPhone and Android users. They allow traders to receive stock or forex price alerts, and both support watchlists with real-time quotes. While they both offer 30 technical studies for charting and enable users to draw trendlines and view multiple time frames, MultiBank holds a slight advantage with its ability to auto-save drawings on charts, a feature not mentioned for FXOpen.
Despite this difference, both apps have received similar user ratings, with each earning four stars for their mobile trading experience. However, MultiBank is ranked higher by ForexBrokers.com, securing the 41st spot out of 63 brokers, compared to FXOpen's 54th position. On the whole, while both apps are comparable in many areas, MultiBank edges out slightly in both features and recognition.
| Feature |
MultiBank
|
FXOpen
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | ||
| Mobile Charting - Indicators / Studies | 30 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing MultiBank and FXOpen for their market research offerings, it is evident that both brokers provide some noteworthy resources. FXOpen offers daily market commentary, giving traders regular updates, which MultiBank does not. Both MultiBank and FXOpen supply forex news from top-tier sources such as Bloomberg and Reuters, ensuring traders access to quality information. Additionally, both brokers offer comprehensive economic calendars that display global news events, which can prove beneficial for traders looking to stay informed about market catalysts.
However, there are areas where these brokers diverge. Neither MultiBank nor FXOpen provide sentiment-based trading tools or market analysis from companies like Autochartist, Trading Central, TipRanks, or Acuity Trading's Signal Centre. In terms of ratings and rankings, MultiBank edges slightly ahead with a research rating of 3.5 stars compared to FXOpen’s 3 stars, and it is ranked #49 out of 63 brokers by ForexBrokers.com, whereas FXOpen is positioned at #63. These distinctions highlight the differences in the depth and scope of their research offerings for traders.
| Feature |
MultiBank
|
FXOpen
|
|---|---|---|
| Daily Market Commentary | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | ||
| Trading Central (Recognia) | ||
| Social Sentiment - Currency Pairs | ||
| TipRanks | ||
| Signal Centre (Acuity Trading) | ||
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational offerings for beginners between MultiBank and FXOpen, MultiBank stands out by providing beginner traders access to a variety of educational resources, including more than 10 articles and videos focused on forex and CFDs. These materials are designed to help newcomers understand trading concepts better. In addition, MultiBank offers over 10 educational videos specifically tailored to beginners, making it easier for them to grasp trading essentials.
In contrast, FXOpen offers fewer beginner-centric educational materials but compensates with an investor dictionary that includes definitions for over 50 investing terms, providing a useful reference for those new to trading. With educational ratings at 3.5 stars for MultiBank and 3 stars for FXOpen, both brokers offer educational resources, but with different strengths. MultiBank is ranked #50 out of 63 brokers by ForexBrokers.com in the Education category, while FXOpen is ranked #58. This suggests that while both brokers have room for improvement, MultiBank has a slightly better standing in terms of educational offerings for beginner traders.
| Feature |
MultiBank
|
FXOpen
|
|---|---|---|
| Education (Forex or CFDs) | Yes | |
| Client Webinars | ||
| Client Webinars (Archived) | ||
| Videos - Beginner Trading Videos | Yes | |
| Videos - Advanced Trading Videos | ||
| Investor Dictionary (Glossary) | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that MultiBank is better than FXOpen. MultiBank finished with an overall rank of #40, while FXOpen finished with an overall rank of #54.
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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FXOpen
|
|---|---|---|
| Overall Rating |
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| Trust Score | 84 | 76 |
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MultiBank allows the purchase of both actual delivered cryptocurrency and cryptocurrency derivatives, while FXOpen provides the option to trade cryptocurrency derivatives but not actual delivered cryptocurrency.
In comparing online brokers, MultiBank and FXOpen both support Visa/Mastercard, Skrill, and bank wires for depositing and withdrawing funds, while MultiBank uniquely provides ACH/SEPA transfer options and neither offers PayPal services.
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 | FXOpen | |
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| Trust Score | 84 | 76 | |
| Winner | check_circle | ||
| Review | MultiBank Review |
| Broker Screenshots | MultiBank | FXOpen | |
|---|---|---|---|
| Broker Gallery (click to expand) |
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| Regulation | MultiBank | FXOpen | |
|---|---|---|---|
| Trust Score | 84 | 76 | |
| Year Founded | 2005 | 2003 | |
| Publicly Traded (Listed) | |||
| Bank | |||
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 3 | 2 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 3 | 0 |
| Tier-1 Licenses (Highly Trusted) | MultiBank | FXOpen | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | ||
| Canada (CIRO Authorised) | |||
| Hong Kong (SFC Authorised) | |||
| Japan (SFC Authorised) | |||
| Singapore (MAS Authorised) | Yes | ||
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | Yes | ||
| USA (CFTC Authorized) | |||
| New Zealand (FMA Authorised) | |||
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | MultiBank | FXOpen | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | |||
| South Africa (FSCA Authorised) | |||
| UAE (DFSA/Central Bank Authorised) | Yes | ||
| India (SEBI Authorised) | |||
| Jordan (JSC Authorised) |
| Investments | MultiBank | FXOpen | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1042 | 87 | |
| Forex Pairs (Total) | 40 | 25 | |
| U.S. Stock Trading (Non CFD) | |||
| Int'l Stock Trading (Non CFD) | |||
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | Yes | ||
| Cryptocurrency (Derivative) | Yes | Yes | |
| Disclaimers |
| Cost | MultiBank | FXOpen | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | N/A | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | Yes | ||
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | Yes | ||
| Execution: Market Maker | Yes | Yes |
| Funding | MultiBank | FXOpen | |
|---|---|---|---|
| Minimum Deposit | $50 | $100 | |
| PayPal (Deposit/Withdraw) | |||
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes |
| Trading Platforms | MultiBank | FXOpen | |
|---|---|---|---|
| Proprietary Platform | 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 | |||
| DupliTrade | |||
| ZuluTrade | Yes |
| Trading Tools | MultiBank | FXOpen | |
|---|---|---|---|
| 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 | FXOpen | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | |||
| Mobile Charting - Indicators / Studies | 30 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | ||
| Mobile Economic Calendar | Yes | Yes |
| Research | MultiBank | FXOpen | |
|---|---|---|---|
| Daily Market Commentary | Yes | ||
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | |||
| Trading Central (Recognia) | |||
| TipRanks | |||
| Social Sentiment - Currency Pairs | |||
| Economic Calendar | Yes | Yes |
| Education | MultiBank | FXOpen | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | ||
| Client Webinars | |||
| Client Webinars (Archived) | |||
| Videos - Beginner Trading Videos | Yes | ||
| Videos - Advanced Trading Videos | |||
| Investor Dictionary (Glossary) | Yes |
| Major Forex Pairs | MultiBank | FXOpen | |
|---|---|---|---|
| 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 | FXOpen | |
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| Trust Score | 84 | 76 | |
| Winner | check_circle | ||
| Review | MultiBank Review |
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