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, established in 1971, stands as a well-recognized online broker, not only due to its longevity but also due to its extensive regulatory backing. The company is publicly traded and operates as a bank, which adds to its credibility among investors. With 5 Tier-1 licenses, Charles Schwab is equipped with top-tier regulatory compliance, contributing to its impeccable Trust Score of 99 according to ForexBrokers.com. This score places Charles Schwab in the highly trusted category, reflecting both its reputation and commitment to client security.
MultiBank, founded in 2005, offers a contrasting profile. Although it has garnered its own level of trust with a ForexBrokers.com Trust Score of 84, it is not publicly traded and does not operate as a bank. MultiBank holds 3 Tier-1 licenses and 1 Tier-2 license, demonstrating a solid regulatory standing but slightly less robust than Charles Schwab's. Falling into the trusted category, MultiBank represents a viable option for investors seeking a regulated broker with an established, albeit shorter, history in the industry.
| Feature |
Charles Schwab
|
MultiBank
|
|---|---|---|
| Year Founded | 1971 | 2005 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 5 | 3 |
| Tier-2 Licenses | 0 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 3 |
Charles Schwab and MultiBank both earn 4 out of 5 stars for commissions and fees, but they take different routes. Schwab ranks #25 out of 63 brokers in this category, while MultiBank ranks #39. Schwab suits U.S. dollar–based forex traders who prefer no commission charges, whereas MultiBank caters to traders who want tiered account choices, including an ECN option with a small commission in exchange for potentially tighter spreads.
Schwab charges no commissions on forex; your cost comes from the spread. In October 2024, the average EUR/USD spread was 1.35 pips, which is on the higher side of the industry average. Forex trading is available through the Schwab One account on thinkorswim, with all trades settled in U.S. dollars. The smallest trade size is 10,000 units, implying about $500 in required margin at 20:1 leverage. If you want to place trades in a foreign market’s local currency, Schwab Global supports 12 markets, but currency conversions can add 0.2%–1% depending on your balance. Schwab also discloses overnight financing (carry) costs inside thinkorswim so you can estimate holding costs.
MultiBank offers three account types for forex and CFDs. The Standard account has a $50 minimum deposit but carries higher spreads. The Pro account lowers spreads with a $1,000 minimum. The ECN account targets the lowest spreads but adds a round‑trip commission of $3 per trade and a $10,000 minimum deposit. Note the non-trading fee: MultiBank charges $60 per month after 90 days of inactivity. In short, Schwab’s spread-only pricing with no minimum deposit is simple but can be pricier per trade, while MultiBank’s ECN route can reduce spreads at the cost of commissions, higher minimums, and a potential inactivity fee.
| 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 | No | No |
| ACH or SEPA Transfers | Yes | Yes |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Comparing Charles Schwab vs MultiBank for range of investments, both brokers offer forex trading as CFDs or spot. Schwab delivers a far wider lineup with about 40,000 tradeable symbols and 73 forex pairs, versus MultiBank’s 1,042 symbols and 40 pairs. Schwab also lets clients buy actual exchange-traded shares on U.S. and international markets (think Apple or Vodafone), while MultiBank does not. That breadth helps explain Schwab’s 5-star rating and #5 ranking out of 63 brokers for Range of Investments, compared with MultiBank’s 4 stars and #38 ranking.
Feature-wise, MultiBank stands out for copy trading and the ability to buy real cryptocurrency, two options Schwab doesn’t offer. Both brokers support crypto derivatives. In short, choose Charles Schwab if you want the widest selection of stocks, funds, and forex pairs across U.S. and global exchanges; pick MultiBank if you value copy trading and want to purchase actual crypto alongside forex.
| 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 | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | No | 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.
Both Charles Schwab and MultiBank provide free paper trading, in-house platforms, and both desktop (Windows) and web platforms. MultiBank adds copy trading and supports MetaTrader 4 (MT4) and MetaTrader 5 (MT5), while Schwab does not. Neither broker connects to DupliTrade or ZuluTrade. You can place trades directly from charts on either platform.
For charting tools, Schwab lists 24 drawing tools versus 17 at MultiBank; both include technical indicators (counts not specified). Watchlists are far more flexible at Schwab (up to 580 columns) compared with MultiBank (7 columns). In independent testing by ForexBrokers.com, Schwab earned 5 stars and ranked #5 of 63 for Trading Platforms and Tools, while MultiBank scored 4 stars and ranked #40. Choose Schwab if you want deeper platform features and expansive watchlists; choose MultiBank if you want copy trading and MetaTrader access.
| 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 | No | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| 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.
Both the Charles Schwab mobile trading app and the MultiBank mobile trading app are available for iPhone and Android. Each app supports price alerts, real-time quote watchlists, trendline drawing, multiple time frames (intraday to weekly), and auto-saved chart drawings, so it’s easy to track stocks or forex on the go.
The big differences show up in syncing and chart depth. Charles Schwab syncs watchlist symbols with your online account, while MultiBank does not. For technical analysis, Schwab offers 374 built-in studies versus MultiBank’s 30, giving active traders many more indicators to choose from. Reflecting this, ForexBrokers.com rates Schwab’s mobile app 5 stars and ranks it #6 out of 63 brokers, compared with MultiBank’s 4 stars and #42 ranking. If you want deeper charting and seamless watchlist syncing, Schwab stands out; if you need the basics on both iPhone and Android, MultiBank still delivers.
| Feature |
Charles Schwab
|
MultiBank
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| 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.
For market research, Charles Schwab stands out versus MultiBank. Schwab provides daily market commentary and delivers forex news from top-tier sources such as Bloomberg, Reuters, or Dow Jones, while MultiBank lacks the daily commentary but does offer top-tier forex news. Both brokers include an economic calendar with upcoming global events. Reflecting these differences, ForexBrokers.com rates Schwab 5 stars and ranks it #4 of 63 for Research, while MultiBank earns 3.5 stars and ranks #50.
As for research add-ons, neither broker integrates Autochartist or Trading Central, and neither offers a sentiment tool or TipRanks research. Schwab does not provide Acuity Trading tools; the availability of Acuity Trading at MultiBank is not specified here.
| Feature |
Charles Schwab
|
MultiBank
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | No | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, Charles Schwab stands out compared to MultiBank. Both brokers offer a variety of materials on forex and CFDs, including articles, videos, and archived webinars. However, Charles Schwab surpasses MultiBank by providing monthly online educational webinars and a searchable archive of recorded sessions, which MultiBank does not offer. Additionally, Schwab caters to both beginners and advanced traders with over ten educational videos for each category, while MultiBank focuses primarily on beginners. For those seeking an in-depth understanding, Charles Schwab includes an investor dictionary with more than 50 investing terms, a feature that MultiBank lacks.
In terms of quality ratings from ForexBrokers.com, Charles Schwab receives an excellent score of five stars for its education offerings, ranking sixth among 63 brokers. In contrast, MultiBank garners a modest 3.5 stars and is positioned at number fifty. This indicates that Charles Schwab provides a richer and more comprehensive educational experience, making it a preferable choice for those looking to strengthen their trading knowledge, especially at the beginner level. The superior resources offered by Charles Schwab make it an attractive option for newcomers who are eager to explore trading.
| Feature |
Charles Schwab
|
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 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
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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 cryptocurrency, it offers cryptocurrency derivatives, just like MultiBank, which uniquely enables the direct acquisition of delivered cryptocurrencies alongside derivative options.
Both Charles Schwab and MultiBank offer ACH or SEPA transfers and bank wires for account funding, but while MultiBank extends additional options including Skrill and Visa/Mastercard, neither provides PayPal as a transaction method.
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 | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | 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) | No | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (SFC Authorised) | No | ||
| Singapore (MAS Authorised) | Yes | Yes | |
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | ||
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes |
| Tier-2 Licenses (Trusted) | Charles Schwab | MultiBank | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | ||
| South Africa (FSCA Authorised) | No | ||
| UAE (DFSA/Central Bank Authorised) | Yes | ||
| India (SEBI Authorised) | No | ||
| 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 | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | No | 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 | 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 | No | No | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | No | Yes |
| Funding | Charles Schwab | MultiBank | |
|---|---|---|---|
| Minimum Deposit | $0 | $50 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | No | 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 | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| 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 | No | |
| 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 | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | No | No | |
| Economic Calendar | Yes | Yes |
| Education | Charles Schwab | 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 | 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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