Written by ForexBrokers.com
In this head to head comparison of Charles Schwab 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.
Charles Schwab, a longstanding financial institution established in 1971, holds a position as one of the most reliable online brokers, fortified by a stellar Trust Score of 99 out of 99 from ForexBrokers.com. As a publicly traded bank, it commands significant credibility with five Tier-1 licenses, indicating a high level of trust. In comparison, MultiBank, founded in 2005, offers a solid but less stellar Trust Score of 84. Not publicly traded nor a bank, MultiBank has garnered trust with three Tier-1 licenses and an additional Tier-2 license, categorizing it as trusted but not at the pinnacle of security like Charles Schwab.
In terms of regulatory credentials, Charles Schwab's position in the financial market is robust, partly due to its bank status and stock exchange listing, further solidifying its trusted reputation. MultiBank, while maintaining regulatory compliance and trustworthiness, is an option for those seeking a broker with valid licenses but without the added assurance of public trading or banking operations. For potential investors, understanding these differences in regulatory trust scores and licenses can guide a well-informed choice between these two online brokers.
| Feature |
Charles Schwab
|
MultiBank
|
|---|---|---|
| Year Founded | 1971 | 2005 |
| Publicly Traded (Listed) | Yes | |
| Bank | Yes | |
| Tier-1 Licenses | 5 | 3 |
| Tier-2 Licenses | 0 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 3 |
Charles Schwab offers traders access to two primary accounts for forex trading: Schwab One and Schwab Global. Schwab One allows traders to utilize the thinkorswim platform with no minimum deposit, although trades settle in U.S. dollars. The Schwab Global account gives access to twelve international markets in their local currencies, with conversion fees ranging from 0.2% to 1% based on account balance size. Notably, Schwab does not charge commissions for forex trading, with costs mainly coming from the bid/ask spread. However, the average spread on pairs like EUR/USD can be on the high side, at 1.35 pips, and overnight carry charges are included within their platform. Schwab receives a 4-star rating and ranks #24 among 63 brokers for commissions and fees.
MultiBank provides three account types for forex and CFD trading: Standard, Pro, and ECN. The Standard account, with a $50 minimum deposit, has high spreads and is recommended only for beginners. The Pro account offers lower spreads with a $1,000 minimum deposit, while the ECN account provides the lowest spreads along with a $3 round-trip commission, requiring a $10,000 deposit. Additionally, MultiBank charges a $60 monthly inactivity fee after 90 days of dormancy. MultiBank also receives a 4-star rating but ranks slightly lower at #38 out of 63 brokers in the commissions and fees category.
| Feature |
Charles Schwab
|
MultiBank
|
|---|---|---|
| Minimum Deposit | $0 | $50 |
| Average Spread EUR/USD - Standard | 1.35 | N/A |
| All-in Cost EUR/USD - Active | 1.35 | N/A |
| Active Trader or VIP Discounts | ||
| ACH or SEPA Transfers | Yes | Yes |
| PayPal (Deposit/Withdraw) | ||
| Skrill (Deposit/Withdraw) | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Charles Schwab and MultiBank both provide diverse investment opportunities, which include forex trading through CFDs or spot contracts. Schwab offers a staggering 40,000 tradable symbols, compared to MultiBank's 1,042. When it comes to forex pairs, Schwab provides access to 73 pairs, outshining MultiBank's offering of 40. Both brokers allow users to trade cryptocurrency derivatives, but only MultiBank lets clients purchase actual cryptocurrencies. However, MultiBank is unique in offering copy trading, which could be a draw for investors looking to mimic successful strategies.
In terms of securities, Charles Schwab offers clients the chance to trade exchange-listed securities both in the U.S. and internationally. This contrasts with MultiBank, which does not provide this service. Schwab’s comprehensive range of investment options earns it a five-star rating for available investments, while MultiBank receives four stars. According to ForexBrokers.com, Schwab ranks impressively at number five among 63 brokers for range of investments, whereas MultiBank stands at position 37, indicating Schwab’s superior investment offerings.
| Feature |
Charles Schwab
|
MultiBank
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 40000 | 1042 |
| Forex Pairs (Total) | 73 | 40 |
| U.S. Stock Trading (Non CFD) | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | |
| Social Trading / Copy Trading | Yes | |
| Cryptocurrency (Physical) | 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 trading platforms and tools, Charles Schwab and MultiBank both offer key features like simulated trading with virtual demo accounts and proprietary platforms. Both brokers provide Windows-based desktop platforms and web-based trading options, making them accessible for various users. While Charles Schwab and MultiBank offer the ability to trade directly from stock charts, they differ in some special features. MultiBank supports MetaTrader 4 and MetaTrader 5 platforms and offers copy trading, whereas Charles Schwab does not. However, Charles Schwab stands out with a remarkable 580 columns for watch lists, compared to just 7 offered by MultiBank, and provides 24 drawing tools for charting against MultiBank's 17.
In terms of ratings, Charles Schwab receives a full 5-star rating for its Trading Platforms and Tools from industry watchers, while MultiBank garners a solid 4 stars. In a ranking of 63 brokers by ForexBrokers.com, Charles Schwab's platforms and tools prove more favorable, taking the #5 spot, in contrast to MultiBank's position at #39. Both brokers offer a range of features that meet diverse trading needs, but Charles Schwab’s high rating and advanced customization capabilities give it an edge for traders seeking comprehensive analytical tools and a detailed overview of market conditions.
| Feature |
Charles Schwab
|
MultiBank
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | |
| MetaTrader 4 (MT4) | Yes | |
| MetaTrader 5 (MT5) | Yes | |
| DupliTrade | ||
| ZuluTrade | ||
| Charting - Indicators / Studies (Total) | 374 | 38 |
| Charting - Drawing Tools (Total) | 24 | 17 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 580 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Charles Schwab and MultiBank both offer mobile trading apps that are available for iPhone and Android devices, providing a convenient way to trade on the go. Both platforms also provide vital features like price alerts for stock and forex markets, the ability to draw trendlines, and options to view multiple timeframes on charts. Real-time quote tracking with customizable watchlists is also a part of the package for both apps. However, Charles Schwab stands out by offering a unique feature that allows users to sync watchlists between their mobile app and online account, ensuring seamless transitions and updates across platforms—a feature not currently available with MultiBank.
When it comes to charting capabilities, Charles Schwab takes the lead with an extensive range of 374 technical studies available on its mobile app, compared to MultiBank’s offering of 30 technical studies. Both apps, however, do allow for the auto-saving of chart drawings. In terms of user satisfaction, Charles Schwab is highly rated with 5 stars and holds the #6 ranking out of 63 brokers by ForexBrokers.com for their mobile trading apps, whereas MultiBank receives a commendable 4-star rating but is positioned lower at the #41 spot. This makes Charles Schwab a stronger contender for users who prioritize advanced charting tools and seamless app-account integration.
| Feature |
Charles Schwab
|
MultiBank
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | |
| Mobile Charting - Indicators / Studies | 374 | 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, Charles Schwab stands out with impressive offerings, including daily market commentary and access to top-tier forex news from industry giants like Bloomberg and Reuters. While offering a comprehensive economic calendar, Charles Schwab shines with a perfect 5-star research rating, securing its esteemed position as the fourth-ranked broker out of 63 by ForexBrokers.com. In contrast, MultiBank provides access to forex news from prestigious sources and an informative economic calendar, yet it falls short in other areas, earning a 3.5-star rating and ranking 49th.
Both Charles Schwab and MultiBank ensure traders are well-informed with pivotal news and updates, but Charles Schwab's deeper commitment to research and analysis tools appears to offer greater value. For those prioritizing detailed and consistent market insights from a broker with a top-tier reputation, Charles Schwab remains a strong choice. Meanwhile, MultiBank serves as a viable alternative but might lag for those who demand the most comprehensive research capabilities in the market.
| Feature |
Charles Schwab
|
MultiBank
|
|---|---|---|
| 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.
Charles Schwab and MultiBank both excel in offering educational resources for beginners interested in forex or CFDs. Both online brokers provide a variety of learning materials, with more than 10 educational pieces such as articles, videos, and archived webinars, aimed at helping new investors understand the basics. While both companies also offer beginner-focused videos in trading topics, Charles Schwab distinguishes itself by presenting a comprehensive set of advanced educational videos specifically designed for experienced traders. Additionally, Charles Schwab hosts online educational webinars monthly and maintains a searchable archive of recorded sessions, features that do not appear to be offered by MultiBank. This comprehensive access to live learning and recorded materials makes Charles Schwab a strong contender for those looking for an enriched learning environment.
Beyond videos and webinars, Charles Schwab also offers an investor dictionary containing over 50 investing terms, a resource not provided by MultiBank. Considering these extensive educational tools and features, it is not surprising that Charles Schwab earned a 5-star rating for education and holds the #6 rank out of 63 brokers in ForexBrokers.com's Education category. In comparison, MultiBank received a 3.5-star rating and is ranked #50 in the same category. The difference in rankings and resource availability highlights Charles Schwab's greater emphasis on supporting clients' educational growth through a well-rounded suite of learning opportunities, making it a preferred choice for beginners who seek a deeper, more thorough educational experience.
| Feature |
Charles Schwab
|
MultiBank
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | |
| Client Webinars (Archived) | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | |
| 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 Charles Schwab is better than MultiBank. Charles Schwab finished with an overall rank of #6, while MultiBank finished with an overall rank of #40.
Charles Schwab is a highly trusted financial institution and multi-asset broker catering to U.S.-based and international forex traders. Schwab's award-winning thinkorswim platform offers over 70 tradeable currency pairs alongside impressive tools, research, and education. That said, the broker’s forex offering is still largely limited to what is available on thinkorswim.
| Feature |
Charles Schwab
|
MultiBank
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 84 |
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While Charles Schwab does not provide the option to purchase actual delivered cryptocurrencies, both Charles Schwab and MultiBank offer the ability to trade cryptocurrency derivatives.
Both Charles Schwab and MultiBank offer ACH and SEPA transfers as well as bank wire options for depositing or withdrawing funds, while MultiBank additionally supports Skrill and credit card transactions with Visa or Mastercard.
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 | Charles Schwab | MultiBank | |
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| Trust Score | 99 | 84 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | MultiBank Review |
| Broker Screenshots | Charles Schwab | MultiBank | |
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| Regulation | Charles Schwab | MultiBank | |
|---|---|---|---|
| Trust Score | 99 | 84 | |
| Year Founded | 1971 | 2005 | |
| Publicly Traded (Listed) | Yes | ||
| Bank | Yes | ||
| Regulated in one or more EU or EEA countries (MiFID). | Yes | ||
| Tier-1 Licenses | 5 | 3 | |
| Tier-2 Licenses | 0 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 3 |
| Tier-1 Licenses (Highly Trusted) | Charles Schwab | MultiBank | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | ||
| Canada (CIRO Authorised) | Yes | ||
| Hong Kong (SFC Authorised) | Yes | ||
| Japan (SFC Authorised) | |||
| Singapore (MAS Authorised) | Yes | Yes | |
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | Yes | ||
| USA (CFTC Authorized) | Yes | ||
| New Zealand (FMA Authorised) | |||
| Regulated in one or more EU or EEA countries (MiFID). | Yes |
| Tier-2 Licenses (Trusted) | Charles Schwab | MultiBank | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | |||
| South Africa (FSCA Authorised) | |||
| UAE (DFSA/Central Bank Authorised) | Yes | ||
| India (SEBI Authorised) | |||
| Jordan (JSC Authorised) |
| Investments | Charles Schwab | MultiBank | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 40000 | 1042 | |
| Forex Pairs (Total) | 73 | 40 | |
| U.S. Stock Trading (Non CFD) | Yes | ||
| Int'l Stock Trading (Non CFD) | Yes | ||
| Social Trading / Copy Trading | Yes | ||
| Cryptocurrency (Physical) | 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 | Charles Schwab | MultiBank | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.35 | N/A | |
| All-in Cost EUR/USD - Active | 1.35 | N/A | |
| Active Trader or VIP Discounts | |||
| Inactivity Fee | Yes | ||
| Execution: Agency Broker | Yes | ||
| Execution: Market Maker | Yes |
| Funding | Charles Schwab | MultiBank | |
|---|---|---|---|
| Minimum Deposit | $0 | $50 | |
| PayPal (Deposit/Withdraw) | |||
| Skrill (Deposit/Withdraw) | Yes | ||
| Visa/Mastercard (Credit/Debit) | Yes | ||
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | Yes |
| Trading Platforms | Charles Schwab | MultiBank | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | ||
| MetaTrader 4 (MT4) | Yes | ||
| MetaTrader 5 (MT5) | Yes | ||
| cTrader | |||
| DupliTrade | |||
| ZuluTrade |
| Trading Tools | Charles Schwab | MultiBank | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 580 | 7 | |
| Charting - Indicators / Studies (Total) | 374 | 38 | |
| Charting - Drawing Tools (Total) | 24 | 17 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Charles Schwab | MultiBank | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | ||
| Mobile Charting - Indicators / Studies | 374 | 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 | Charles Schwab | MultiBank | |
|---|---|---|---|
| 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 | Charles Schwab | MultiBank | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | ||
| Client Webinars (Archived) | Yes | ||
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | ||
| Investor Dictionary (Glossary) | Yes |
| Major Forex Pairs | Charles Schwab | 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 | Charles Schwab Review | MultiBank Review |
| Overall | Charles Schwab | MultiBank | |
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| Trust Score | 99 | 84 | |
| Winner | check_circle | ||
| Review | Charles Schwab Review | MultiBank Review |
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