Written by ForexBrokers.com
In this head to head comparison of HFM 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.
When considering online brokers, HFM and MultiBank are two well-known names, each with its own strengths in regulatory compliance. Founded in 2010, HFM holds 2 Tier-1 licenses and 3 Tier-2 licenses, securing a trust score of 86 out of 99 from ForexBrokers.com. This suggests that HFM is trusted, though not the highest tier of trust, according to the rating criteria. Despite not being publicly traded or a bank, HFM demonstrates a strong commitment to client security through its regulatory standing.
On the other hand, MultiBank, established in 2005, also features prominently on the regulatory front. It boasts 3 Tier-1 licenses, further reinforcing its regulatory stature, and has a trust score of 84. Like HFM, it is neither publicly listed nor operates as a bank. Despite having fewer Tier-2 licenses—just 1 compared to HFM's 3—MultiBank's additional Tier-1 license positions it as slightly more secure in terms of high-level regulatory approvals. Both brokers offer trusted options for traders, albeit with slightly different regulatory frameworks.
| Feature |
HFM
|
MultiBank
|
|---|---|---|
| Year Founded | 2010 | 2005 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 3 |
| Tier-2 Licenses | 3 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 3 |
When evaluating HFM and MultiBank based on their commissions and fees, prospective traders should note subtle differences. HFM offers a range of trading accounts, with their standard account reflecting slightly above-average trading costs. Typical spreads stand at 1.2 pips, although without a specified date range, these figures might not reflect averages. For tighter spreads, the Zero account provides an effective spread of 0.7 pips post-commission. Despite the commendable offerings, HFM earns a 4-star rating out of five for commissions and fees and ranks 31st out of 62 brokers in this category according to ForexBrokers.com.
MultiBank caters to various trader needs with its three account types: Standard, Pro, and ECN. Their Standard account, with only a $50 minimum deposit, features higher spreads and is recommended mainly for novices. For traders seeking lower spreads, the Pro account demands a $1,000 deposit. The ECN account, with the lowest spreads, requires a $10,000 minimum deposit and applies a $3 round-trip commission per trade. Users should also be wary of the $60 monthly inactivity fee that applies after 90 days of no trading activity. MultiBank, like HFM, has a 4-star rating for commissions and fees, with a ranking of 37th out of 62 brokers by ForexBrokers.com.
Both HFM and MultiBank offer competitive, yet distinct, structures for commissions and fees that suit different trading preferences and experience levels. While HFM generally provides higher trading costs, its Zero account appeals to those focused on effective spreads. On the other hand, MultiBank offers diversity in account types but requires higher deposits for more favorable conditions. Traders need to carefully consider these factors to select the broker that aligns best with their trading strategy and requirements.
| Feature |
HFM
|
MultiBank
|
|---|---|---|
| Minimum Deposit | $0 | $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 | No | No |
| ACH or SEPA Transfers | No | Yes |
| PayPal (Deposit/Withdraw) | No | 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 comparing the range of investments offered by HFM and MultiBank, both brokers provide forex trading as CFDs or spot contracts. HFM provides a selection of 500 tradable symbols, which include an impressive 102 forex pairs, catering well to forex enthusiasts. In contrast, MultiBank boasts a larger array of 1042 tradable symbols but offers a more limited number of 40 forex pairs. However, neither broker provides access to exchange-traded securities on U.S. or international exchanges, such as buying shares like Apple or Vodafone directly.
For traders interested in cryptocurrencies, HFM and MultiBank both allow trading cryptocurrency derivatives. However, only MultiBank lets clients buy actual cryptocurrencies, adding a layer of versatility for crypto investors. Further enhancing their user offerings, both brokers support copy trading, allowing users to replicate the trades of proficient investors. HFM and MultiBank both hold a rating of four stars for their range of investments, with rankings on ForexBrokers.com of #36 and #37 respectively out of 62 brokers, highlighting their competitive yet similar standing in the market.
| Feature |
HFM
|
MultiBank
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 500 | 1042 |
| Forex Pairs (Total) | 102 | 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 looking at trading platforms and tools, both HFM and MultiBank present a comprehensive suite that caters to various trading needs. Both brokers provide a simulated trading experience with the availability of free virtual demo accounts, making it easier for beginners to practice without financial risk. Additionally, each broker has its own proprietary platform while also supporting popular platforms like MetaTrader 4 and MetaTrader 5, offering traders familiar and versatile choices across Windows-based desktop, and web-browser interfaces. Uniquely, HFM provides a broader selection of drawing tools for charting, totaling 30 compared to MultiBank's 17, aiding in more detailed technical analysis. In terms of copy trading, both brokers accommodate this feature, adding a layer of social trading appeal to their platforms.
Further adding to their utility, both HFM and MultiBank enable direct trading from stock charts, streamlining the trading process for users. For those who like to keep tabs on their investments, each broker offers watch lists with seven columns, facilitating organized tracking. Both have been given the same four-star rating for their trading platforms and tools, although MultiBank ranks marginally higher with a #39 ranking compared to HFM’s #42 out of 62 brokers according to ForexBrokers.com. No matter which you choose, both HFM and MultiBank provide solid tools and functionalities that cater to enhancing the trading experience.
| Feature |
HFM
|
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) | 15 | 38 |
| Charting - Drawing Tools (Total) | 30 | 17 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both HFM and MultiBank provide comprehensive mobile trading apps compatible with iPhone and Android devices. Traders can take advantage of functionalities like price alerts and the ability to draw trendlines on charts, making these apps convenient for monitoring market movements and executing strategies on the go. With each app offering 30 technical studies for charting, users have ample tools to analyze their trading options thoroughly. Moreover, both platforms support real-time quote watchlists, ensuring that users are always up-to-date with the latest market data. However, neither HFM nor MultiBank currently offers watchlist symbol syncing between their mobile apps and online accounts, which means any changes in the watchlist need to be updated separately across devices.
In terms of user satisfaction, HFM and MultiBank evenly match in user ratings, each garnering 4 out of 5 stars for their mobile trading apps. When considering their ranks among 62 brokers reviewed by ForexBrokers.com, HFM holds a slightly higher position at #39, compared to MultiBank at #41. This ranking reflects minor differences in user experience and features, yet both brokers capably serve traders seeking reliable mobile trading solutions. Whether analyzing charts over multiple time frames or automatically saving drawing annotations, both apps provide essential tools for effective mobile trading.
| Feature |
HFM
|
MultiBank
|
|---|---|---|
| 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 it comes to market research offerings, HFM stands out with daily market commentary, a valuable feature that MultiBank does not provide. Both brokers offer forex news from top-tier sources like Bloomberg and Reuters, keeping you well-informed on currency market movements. HFM enhances its market research tools with Autochartist, providing in-depth technical or fundamental analyses, whereas MultiBank lacks this feature. Additionally, HFM includes a sentiment-based trading tool, showing long and short position ratios across various instruments, another area where MultiBank falls short.
Both HFM and MultiBank supply an economic calendar detailing global news events, helping traders plan around important announcements. However, neither broker offers additional resources like Trading Central, TipRanks, or Acuity Trading tools. In terms of research quality, HFM is rated 4 out of 5 stars, compared to MultiBank's 3.5 stars. According to ForexBrokers.com rankings, HFM is positioned at #20 out of 62 brokers for research, offering a broader array of tools and insights than MultiBank, which is ranked at #49.
| Feature |
HFM
|
MultiBank
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | 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.
HFM and MultiBank both provide educational resources aimed at helping beginners navigate the world of forex and CFDs trading. HFM takes a more comprehensive approach by offering a wide range of educational materials, including articles, videos, and archived webinars, all focused on forex or CFDs. This commitment is further demonstrated by HFM’s regular monthly webinars and a searchable archive of past sessions. Beginners will also find value in HFM’s library of over ten educational videos tailored for newcomers, in addition to advanced videos for those with more experience. To aid in understanding complex terms, HFM provides an investor dictionary with definitions of over 50 investing terms, positioning them as a solid resource for learning and development.
In contrast, while MultiBank also delivers over ten educational pieces and a set of beginner-friendly videos, it lacks some of the depth HFM provides. MultiBank does not host monthly webinars or maintain an archive of recorded sessions, which can be a missed opportunity for interactive learning. Furthermore, MultiBank’s absence of videos catering to advanced traders, and the lack of an investor dictionary, may limit their appeal for those seeking to deepen their trading knowledge. Ultimately, HFM earns a higher rating with 4 stars for education compared to MultiBank’s 3.5 stars, and ranks better in the educational category, placing 37th out of 62 brokers on ForexBrokers.com, as opposed to MultiBank’s 50th rank.
| Feature |
HFM
|
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 HFM is better than MultiBank. HFM finished with an overall rank of #30, while MultiBank finished with an overall rank of #40.
Alongside its enhanced MetaTrader offering and quality research, HFM (HF Markets), previously known as HotForex, offers a proprietary copy trading platform, HFcopy, a proprietary HF mobile app, and a decent selection of over 1,000 CFDs and 47 forex pairs. Still, trading costs at HFM are slightly above the industry average.
| Feature |
HFM
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MultiBank
|
|---|---|---|
| Overall Rating |
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| Trust Score | 86 | 84 |
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While HFM provides access to cryptocurrency derivatives but not actual cryptocurrencies, MultiBank offers the flexibility to purchase both real cryptocurrencies and their derivatives.
While both HFM and MultiBank support Skrill, Visa, Mastercard, and bank wire transfers for depositing or withdrawing funds, MultiBank additionally offers ACH or SEPA transfers, which HFM does not, and neither broker supports 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 | HFM | MultiBank | |
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| Trust Score | 86 | 84 | |
| Winner | check_circle | ||
| Review | HFM Review | MultiBank Review |
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| Regulation | HFM | MultiBank | |
|---|---|---|---|
| Trust Score | 86 | 84 | |
| Year Founded | 2010 | 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 | 3 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 3 |
| Tier-1 Licenses (Highly Trusted) | HFM | MultiBank | |
|---|---|---|---|
| Australia (ASIC Authorised) | No | 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) | Yes | 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) | HFM | MultiBank | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | HFM | MultiBank | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 500 | 1042 | |
| Forex Pairs (Total) | 102 | 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 | HFM | 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 | No | No | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | HFM | MultiBank | |
|---|---|---|---|
| Minimum Deposit | $0 | $50 | |
| PayPal (Deposit/Withdraw) | No | 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 | HFM | 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 | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | HFM | MultiBank | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 15 | 38 | |
| Charting - Drawing Tools (Total) | 30 | 17 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | HFM | 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 | 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 | HFM | MultiBank | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | HFM | 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 | HFM | 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 | HFM Review | MultiBank Review |
| Overall | HFM | MultiBank | |
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| Trust Score | 86 | 84 | |
| Winner | check_circle | ||
| Review | HFM Review | MultiBank Review |
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