Written by ForexBrokers.com
In this head to head comparison of MultiBank vs Octa, 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 stands out in the online brokerage landscape with a ForexBrokers.com Trust Score of 84, placing it in the trusted category. MultiBank holds three top-tier licenses and an additional trusted Tier-2 license, supporting its credibility in the market. Although it’s not publicly traded or a bank, MultiBank's regulatory framework contributes to its perceived trustworthiness among peer brokers.
In comparison, Octa, established in 2011, holds a Trust Score of 72, categorized as average risk by ForexBrokers.com. It possesses one highly trusted Tier-1 license, and like MultiBank, it has an additional Tier-2 license. Despite not being a public entity or a financial institution, Octa's regulatory profile offers moderate assurance to consumers. This distinction in trust scores and licenses helps investors understand the varying levels of perceived risk when choosing between these two brokers.
| Feature |
MultiBank
|
Octa
|
|---|---|---|
| Year Founded | 2005 | 2011 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 1 |
| Tier-2 Licenses | 1 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 3 | 1 |
When comparing the commissions and fees of MultiBank and Octa, both brokers have managed to secure a 4-star rating. MultiBank offers three account types—Standard, Pro, and ECN. The Standard account, with a $50 minimum deposit, comes with higher spreads and is best for beginners. The Pro account requires a $1,000 minimum deposit and features more competitive spreads. For traders seeking the lowest spreads, the ECN account is an option, necessitating a $10,000 deposit and a commission charge of $3 per trade. An additional consideration is MultiBank's inactivity fee of $60 per month if no trading activity occurs for 90 days.
Octa has made significant improvements in its pricing structure and is steadily becoming more competitive among MetaTrader brokers. Unlike MultiBank, Octa doesn't have overnight carry costs, offering a noticeable advantage. Commissions and fees at Octa depend on the account type and the regulatory body overseeing the account—whether it's the EU, South Africa, or its offshore entity in Mwali. Octa also boasts minimal slippage and competitive spread pricing, particularly for its EU entity, which averages 0.5 pips for the EUR/USD pair. However, it lacks specific date ranges for average spread data, which might leave users wanting more clarity.
Despite both brokers sharing a 4-star rating in the Commissions and Fees category, they hold different ranks among 62 brokers on ForexBrokers.com. MultiBank is at #37, while Octa is placed higher at #28, indicating a slightly more favorable perception in terms of cost efficiency.
| Feature |
MultiBank
|
Octa
|
|---|---|---|
| Minimum Deposit | $50 | $25 |
| Average Spread EUR/USD - Standard | N/A | 0.9 |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | No | No |
| ACH or SEPA Transfers | Yes | No |
| 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 MultiBank and Octa in terms of their investment offerings, both brokers provide opportunities for forex trading through CFDs or spot contracts. MultiBank stands out with a remarkable 1042 tradeable symbols, significantly surpassing Octa's 257 offerings. In the realm of forex pairs, MultiBank offers 40 pairs, slightly edging out Octa, which offers 35. Neither broker provides the ability to trade exchange-traded securities, such as shares from the U.S. market. While Octa extends its offering to include international equities, MultiBank does not. Both platforms support copy trading, catering to those interested in mimicking the strategies of successful traders.
In terms of cryptocurrency, MultiBank distinguishes itself by allowing the purchase of actual cryptocurrencies, unlike Octa, which only offers crypto derivatives. Both brokers permit trading through crypto derivatives if that suits your investment perspective. Based on their overall range of investments, MultiBank receives a rating of 4 stars, ranking 37th out of 62 brokers on ForexBrokers.com, thereby outperforming Octa, which earns a 3.5-star rating and ranks 52nd. These metrics make MultiBank a more favorable option for those looking for a diverse range of trading opportunities.
| Feature |
MultiBank
|
Octa
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1042 | 257 |
| Forex Pairs (Total) | 40 | 35 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | Yes | No |
| 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 the trading platforms and tools of MultiBank and Octa, both brokers demonstrate an impressive lineup of features that empower traders with user-friendly experiences. Both platforms offer simulated or paper trading through free virtual demo accounts, allowing users to practice and refine their strategies without financial risk. Each broker has developed its proprietary platform, catering to traders looking for in-house developed solutions. Additionally, both feature Windows-based desktop platforms and web-based options for those who prefer browser trading. The inclusion of popular trading platforms like MetaTrader 4 and MetaTrader 5 is standard with both brokers, offering robust charting capabilities and a comprehensive set of tools. While neither broker supports DupliTrade or ZuluTrade, they compensate by enabling functionalities such as direct trading from stock charts and provide a healthy mix of technical indicators and drawing tools.
For traders interested in copy trading, both MultiBank and Octa offer this service, reinforcing their appeal to a wide range of trading strategies. MultiBank provides 17 drawing tools for charting, slightly more than Octa's 15, while both offer seven columns for watch lists. Ratings from ForexBrokers.com show both brokers scoring four stars for their trading platforms and tools, reflecting their solid offerings in the market. In terms of ranking, though, Octa edges slightly ahead at #37 compared to MultiBank's #39 out of 62 brokers. Both brokers deliver a comprehensive and efficient set of trading tools, suitable for novice and experienced traders alike.
| Feature |
MultiBank
|
Octa
|
|---|---|---|
| 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) | 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.
Both MultiBank and Octa offer a strong selection of features within their mobile trading apps, compatible with iPhone and Android devices. Traders can find essential tools such as stock and forex price alerts, trendline drawing capabilities, and multiple time frame views on both platforms. Each app includes 30 technical studies for charting, providing a comprehensive approach to market analysis. Additionally, both apps allow users to create watchlists with real-time quotes, although they do not offer watchlist symbol syncing with their respective online accounts.
Despite sharing many similarities, Octa is slightly ahead in its ranking for mobile trading apps, holding the 36th position out of 62 brokers according to ForexBrokers.com, compared to MultiBank, which is ranked 41st. Both platforms boast a solid 4-star rating for their mobile trading apps, indicating satisfaction among users. For traders seeking reliable mobile trading tools with many useful features, both MultiBank and Octa present commendable choices, with only slight differences in their market rankings.
| Feature |
MultiBank
|
Octa
|
|---|---|---|
| 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, MultiBank and Octa each provide unique advantages for their users. MultiBank delivers forex news from top-tier sources such as Bloomberg and Reuters, ensuring that its clients have access to high-quality information. However, MultiBank does not include daily market commentary or technical analysis tools from companies like Autochartist, which can sometimes limit traders looking for those specific features. Conversely, Octa stands out by providing daily market commentary and collaborates with Autochartist to offer technical analysis tools. Both brokers ensure their clients are informed about global events through comprehensive economic calendars.
In terms of ratings and rankings, Octa has a slight edge over MultiBank. Octa is rated at 4 stars for research by ForexBrokers.com and is ranked 26th out of 62 brokers. In contrast, MultiBank holds a 3.5-star rating and is ranked 49th. While neither broker provides research tools from Trading Central, sentiment-based trading tools, or market insights from TipRanks or Acuity Trading, Octa's higher research rating suggests a more comprehensive suite of resources, making it a popular choice among traders seeking in-depth market analysis.
| Feature |
MultiBank
|
Octa
|
|---|---|---|
| Daily Market Commentary | No | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | No | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, both MultiBank and Octa provide at least ten educational materials focused on forex or CFDs, including articles, videos, and archived webinars. However, Octa goes a step further by offering monthly online educational webinars, which can help beginners learn in a live setting. Additionally, Octa provides a searchable archive of these recorded webinars, making it convenient for users to access past sessions at their convenience—unlike MultiBank, which lacks these features.
Both platforms offer over ten beginner videos, but Octa leads with more advanced educational content tailored for experienced traders. Additionally, Octa provides an investor dictionary, assisting beginners in understanding at least 50 investing terms. MultiBank, on the other hand, does not offer such a resource. As a result, Octa is rated slightly higher for education with 4 stars compared to MultiBank's 3.5 stars. In a broader ranking by ForexBrokers.com, MultiBank is positioned at #50, trailing behind Octa's #41 out of 62 brokers. These differences highlight Octa's stronger emphasis on comprehensive educational support for traders at all levels.
| Feature |
MultiBank
|
Octa
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | No | Yes |
| Client Webinars (Archived) | No | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | No | Yes |
| Investor Dictionary (Glossary) | No | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that MultiBank is better than Octa. MultiBank finished with an overall rank of #40, while Octa finished with an overall rank of #47.
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
|
Octa
|
|---|---|---|
| Overall Rating |
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| Trust Score | 84 | 72 |
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When comparing online brokers MultiBank and Octa, MultiBank stands out for offering the ability to buy actual cryptocurrency, unlike Octa, though both platforms provide options for trading cryptocurrency derivatives.
MultiBank and Octa both support Visa, Mastercard, Skrill, and bank wires for fund deposits and withdrawals, but only MultiBank offers ACH or SEPA transfers, whereas neither broker provides a PayPal option.
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 | Octa | |
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| Trust Score | 84 | 72 | |
| Winner | check_circle | ||
| Review | MultiBank Review | Octa Review |
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| Regulation | MultiBank | Octa | |
|---|---|---|---|
| Trust Score | 84 | 72 | |
| Year Founded | 2005 | 2011 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 3 | 1 | |
| Tier-2 Licenses | 1 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 3 | 1 |
| Tier-1 Licenses (Highly Trusted) | MultiBank | Octa | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | Yes | No | |
| 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) | MultiBank | Octa | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | MultiBank | Octa | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1042 | 257 | |
| Forex Pairs (Total) | 40 | 35 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | Yes | No | |
| 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 | MultiBank | Octa | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | 0.9 | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | MultiBank | Octa | |
|---|---|---|---|
| Minimum Deposit | $50 | $25 | |
| 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 | Yes | No |
| Trading Platforms | MultiBank | Octa | |
|---|---|---|---|
| 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 | MultiBank | Octa | |
|---|---|---|---|
| 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 | Octa | |
|---|---|---|---|
| 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 | MultiBank | Octa | |
|---|---|---|---|
| Daily Market Commentary | No | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | No | |
| Economic Calendar | Yes | Yes |
| Education | MultiBank | Octa | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | No | Yes | |
| Client Webinars (Archived) | No | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | No | Yes | |
| Investor Dictionary (Glossary) | No | Yes |
| Major Forex Pairs | MultiBank | Octa | |
|---|---|---|---|
| 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 | Octa Review |
| Overall | MultiBank | Octa | |
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| Trust Score | 84 | 72 | |
| Winner | check_circle | ||
| Review | MultiBank Review | Octa Review |
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